Global Power Quality Meter Market was valued at US$ 920.64 Mn in 2017 and is expected to reach US$ 1520.90 Mn by 2026, at a CAGR of 6.48 % during a forecast period.
Power quality meters play a vital role at the end user industries includes industrial, manufacturing, and commercial sectors across various applications, comprising transformers, feeders, motors, motor control centers, and other equipment. The rising need to safeguard electrical networks and components, increasing investments in renewable power plants, and growing renovation activities in developed economies are estimated to drive the global power quality meter market. Power quality is used to evaluate the characteristics of the electricity, which interacts with the electrical equipment and devices.
Increasing adoption of installation of new technologies among consumers is one of the key drivers in the global power quality meter market. Furthermore, lack of awareness on the importance of quality measurement and testing equipment among consumers is limiting the growth in the global power quality meter market.
Global Power Quality Meter Market
The objective of the report is to present a comprehensive assessment of the Global power quality meter market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global power quality meter market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
The three-phase power quality meter segment is estimated to grow at the high rate of CAGR during the forecast period. This can be accredited to the growing investments in transmission & distribution infrastructure, renewable power plants, and industrial & infrastructural activities. Rapid industrialization & infrastructural activities are also expected to increase the demand for a product.
The commercial sector is projected to dominate the global power quality meter market during the forecast period. The dominance position is attributed to increasing usage of energy meters in the commercial applications. Increasing commercial infrastructure is expected to share major contribution in the power quality meter market. The commercial applications include offices, malls, hotels, and other commercial facilities, which use systems such as computing devices, HVAC units, and other electronic devices. These devices and systems are extremely susceptible to power fluctuations. Distortions in power supply are bringing the complete functioning of the office or the hotel to a stop initiating financial losses for the commercial end user. To avoid such issues and to safeguard that all computing and electronic devices work competently, power quality meters are most widely used in the commercial sector.
Geographically, the Asia-Pacific is estimated to share significant growth in the global power quality meter market. The growth in the market is attributed to the rapid urbanization & industrialization, which also propels the demand for power quality meters. Increasing awareness for the supply of quality power and the growing number of industries and manufacturing abilities in the country is expected to boost global power quality meter market in this region. Growing investments in transmission & distribution infrastructural development and energy-efficiency measures and increasing renewable projects in the country also estimated to boom growth for the installation of power quality meters in this region. A government of developing countries in the Asia-Pacific region is rapidly making development toward executing stricter rules for the supply of the quality power at the commercial facilities includes IT hubs, banking institutions, and other sectors, which is expected to drive the demand for power quality meters in this region.
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Scope of the Report Global Power Quality Meter Market
Global Power Quality Meter Market, By Phase
- Single Phase
- Three Phase
Global Power Quality Meter Market, By Application
- Distribution Panels
- Substation Monitoring
- Equipment
- Others
Global Power Quality Meter Market, By End User
- Industrial & Manufacturing
- Commercial
- Utilities
- Transportation
- Others
Global Power Quality Meter Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players in Global Power Quality Meter Market
- Megger
- Sensus
- Siemens
- Valhalla Scientific
- Vitrek
- Wasion Group Holding
- Yokogawa Test & Measurement
- Zhejiang Yongtailong Electronic
- B&K Precision
- Danaher
- Dranetz Technologies
- Emerson
- FLIR Systems
- Fluke Corporation
- Hioki E.E. Corporation
- Honeywell International
- Itron
- Keysight Technologies
- This Report Is Submitted By : Maximize Market Research Company
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