The Latest Power Quality Equipment Industry Statistics Explained
Global Power Quality Equipment Market was valued at USD 33.3 Billion in 2017.
The statistic “Global Power Quality Equipment Market was valued at USD 33.3 Billion in 2017” indicates the total market worth of power quality equipment worldwide during the year 2017. This valuation provides insights into the significant financial scale of the power quality equipment industry, which encompasses devices and solutions aimed at maintaining consistent and high-quality electrical power supply. The substantial value of USD 33.3 billion highlights the economic importance and demand for such equipment in various sectors such as manufacturing, energy, healthcare, telecommunications, and more, reflecting the critical role of power quality in ensuring operational efficiency and reliability across different industries globally.
The market is expected to reach USD 40.85 billion by 2022 at a CAGR of 6.56%.
This statistic indicates that the market size is projected to increase to USD 40.85 billion by the year 2022, representing a Compound Annual Growth Rate (CAGR) of 6.56%. The CAGR is a measure of the year-over-year growth rate of an investment over a specified period of time, in this case, from the current year to 2022. The CAGR of 6.56% suggests a steady and consistent growth trajectory for the market, which implies a positive outlook for the industry as a whole. This statistic provides insights into the expected expansion of the market and can be valuable for investors, businesses, and policymakers to make informed decisions and strategic plans based on the projected growth trend.
The UPS segment held the largest market share in the Power Quality Equipment Market in 2016.
The statistic ‘The UPS segment held the largest market share in the Power Quality Equipment Market in 2016’ indicates that among all the various segments within the Power Quality Equipment Market, the Uninterruptible Power Supply (UPS) segment accounted for the highest proportion of market sales or revenue in the year 2016. This suggests that UPS systems were the most popular and widely adopted type of power quality equipment during that time period, reflecting a strong demand for solutions that provide a continuous and reliable power supply to consumers and businesses. This statistic highlights the dominant position of UPS products in the market and underscores their importance in ensuring stable and uninterrupted power in various settings.
North America is expected to lead the global Power Quality Equipment Market during 2017-2022.
The statistic you provided indicates that North America is projected to be the key driver in driving the growth of the global Power Quality Equipment Market in the period between 2017 and 2022. This suggests that North America is anticipated to have the highest market share and growth rate in the power quality equipment sector compared to other regions during the specified timeframe. Factors such as technological advancements, regulatory support, increasing energy demand, and infrastructure development in North America likely contribute to this anticipated leadership position in the market.
The power quality equipment industry registers substantial growth from Commercial Sector, accounting for a market share of nearly 32% in 2018.
The statistic indicates that the power quality equipment industry experienced significant growth in 2018, particularly driven by the commercial sector, which held a substantial market share of approximately 32%. This suggests that businesses in the commercial sector have been increasingly investing in power quality equipment to ensure stable and efficient electrical power supply, potentially due to the growing reliance on technology and the need for uninterrupted operations. The commercial sector’s strong contribution to the market share highlights its role as a key driver of growth within the power quality equipment industry during the specified period.
Asia-Pacific is expected to grow at the fastest rate of 7.55% until 2022.
The statistic that Asia-Pacific is expected to grow at the fastest rate of 7.55% until 2022 indicates the anticipated economic growth trajectory of the Asia-Pacific region over the specified time period. This growth rate suggests that the economies within the Asia-Pacific region are projected to experience significant expansion, driven by various factors such as demographic shifts, technological advancements, and increasing consumer demand. This statistic alludes to the region’s potential as a key player in the global economy, highlighting opportunities for businesses and investors to capitalize on the growth prospects within Asia-Pacific. Additionally, this figure may also signify the region’s resilience and adaptability in navigating economic challenges, positioning it as a critical driver of global economic growth in the coming years.
The harmonic filter segment of the power quality equipment market is expected to grow at a CAGR of 6.65% from 2017 to 2022.
This statistic indicates that the segment of the power quality equipment market focused on harmonic filters is projected to expand at a Compound Annual Growth Rate (CAGR) of 6.65% from 2017 to 2022. This forecast suggests that there will be a steady and consistent increase in the demand for harmonic filters over the specified five-year period. The rising CAGR implies that the market for harmonic filters is expected to experience significant growth, potentially driven by factors such as increasing awareness of power quality issues, stricter regulations, and rapid industrialization. This data provides valuable insight for investors, manufacturers, and other stakeholders in the power quality equipment industry to guide their strategic decisions and future planning.
Emerging economies have an estimated growth of up to 7.5% per year in the power quality equipment industry.
The statistic indicates that emerging economies are experiencing rapid growth in the power quality equipment industry, with an estimated annual growth rate of up to 7.5%. This suggests that there is a rising demand for power quality equipment in these economies, which could be driven by factors such as increasing industrialization, urbanization, and infrastructure development. The high growth rate signifies significant opportunities for businesses operating in the power quality equipment sector to expand their operations and capture a larger market share in these emerging economies. It also highlights the importance of investing in and developing technologies that can help improve the reliability and efficiency of power supply in these regions.
Industrial end-use segment in power quality equipment industry is anticipated to attain a growth rate of 7.6% till 2025.
The statistic indicates that the industrial end-use segment within the power quality equipment industry is expected to experience a growth rate of 7.6% until the year 2025. This growth rate signifies the projected increase in demand for power quality equipment specifically within the industrial sector over the given timeframe. Factors driving this anticipated growth could include advancements in industrial automation, increasing concerns over power reliability and efficiency, as well as the overall growth of industrial activities globally. This statistic suggests potential opportunities for manufacturers and suppliers of power quality equipment to capitalize on the growing demand within the industrial end-use segment in the coming years.
The static VAR compensator segment is projected to attain a CAGR of 8.3% in the power quality equipment industry during forecast period.
The statement indicates that the specific segment of static VAR compensators within the power quality equipment industry is expected to experience a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. This statistic implies that the demand for static VAR compensators, which are devices used to stabilize voltage fluctuations in power systems, is projected to increase steadily over the specified time frame. The CAGR of 8.3% suggests a substantial growth rate and highlights the potential opportunities for investment and development within this particular segment of the power quality equipment industry.
The electrical power quality equipment market is set to surpass USD 40 billion by 2026, according to a new research report.
This statistic indicates that the market for electrical power quality equipment is expected to see significant growth and reach a value exceeding USD 40 billion by the year 2026, as projected in a recently published research report. This suggests a strong demand for equipment that ensures the stable and reliable supply of electricity, potentially driven by factors such as increasing industrialization, infrastructure development, and the integration of renewable energy sources. The projected expansion of this market signifies a burgeoning industry with opportunities for manufacturers and suppliers of power quality equipment to capitalize on the growing need for solutions that enhance the efficiency and reliability of electrical systems.
The Power Quality Equipment having Demand Overload is expected to grow at CAGR of 7.89% from 2017 to 2022.
This statistic indicates the projected compound annual growth rate (CAGR) of Power Quality Equipment with Demand Overload from 2017 to 2022. A CAGR of 7.89% implies that the market size of this category of equipment is expected to increase at an average annual rate of 7.89% over the specified time period. This growth rate suggests a steady and significant expansion in the demand for Power Quality Equipment with Demand Overload, likely driven by factors such as technological advancements, increasing need for efficient power management, and rising awareness about the importance of maintaining power quality in various industries.
The single phase power quality equipment segment is projected to witness significant growth of nearly 5.8% over the forecast period.
The statistic indicates that the single phase power quality equipment segment is expected to experience a substantial growth rate of approximately 5.8% over the specified forecast period. This growth is significant as it suggests an increasing demand for single phase power quality equipment, which is likely driven by various factors such as changes in energy consumption patterns, technological advancements, and regulatory requirements. The projected growth rate implies that the market for single phase power quality equipment is expanding, presenting opportunities for businesses operating in this sector to capitalize on the demand and potentially increase their market share. The growth rate of 5.8% indicates a promising outlook for the single phase power quality equipment segment in the foreseeable future.
In 2019, Latin America accounted for just 3.9% of the world’s total revenue for the power quality equipment market.
The statistic stating that in 2019, Latin America accounted for just 3.9% of the world’s total revenue for the power quality equipment market indicates that the region’s contribution to the global market in this sector was relatively small. This suggests that Latin America has not yet fully tapped into its market potential for power quality equipment compared to other regions. Factors such as economic conditions, infrastructure development, and regulatory frameworks in Latin America may have influenced this low market share. Companies operating in the power quality equipment sector may consider exploring opportunities in Latin America to capitalize on its market growth potential and expand their presence in the region.
Residential segment is anticipated to grow at a CAGR of 5% in Power Quality Equipment Market during the forecast period.
The statement indicates that the residential segment within the Power Quality Equipment Market is projected to experience a Compound Annual Growth Rate (CAGR) of 5% over the forecast period. This suggests that there is an expected steady increase in demand for power quality equipment within the residential sector in the coming years. Various factors like increasing electrification, growing use of electronic devices, and the need for reliable power supply in homes could be driving this anticipated growth. As a result, companies operating in this market may focus on catering to the residential segment and developing strategies to capitalize on this expected growth trend.
The Power Quality Equipment market revenue was 28.45 Billion USD in 2019 and will reach 41.81 Billion USD in 2025, with a CAGR of 6.64% during 2020-2025.
This statistic indicates that the revenue generated by the Power Quality Equipment market was 28.45 billion USD in 2019 and is projected to increase to 41.81 billion USD by 2025, representing a compound annual growth rate (CAGR) of 6.64% over the period from 2020 to 2025. This signifies a consistent and positive growth trend in the market for power quality equipment, reflecting increasing demand and adoption of such solutions over the forecasted period. The CAGR provides a measure of the average annual growth rate of the market revenue during this time frame, showing the potential for sustained expansion and investment opportunities in the Power Quality Equipment sector.
The industrial vertical segment accounted for the largest portion of the power quality equipment market in 2018, with a share of 62.4%.
The statistic indicates that in 2018, the industrial vertical segment was the dominant sector within the power quality equipment market, contributing the highest portion of market share at 62.4%. This suggests that a significant majority of the demand for power quality equipment came from industries such as manufacturing, mining, and utilities, which typically have high power consumption needs and require reliable electricity supply to maintain operations. The strong presence of the industrial sector in the market highlights the importance of maintaining consistent power quality and reliability in industrial settings to ensure operational efficiency and productivity, thereby driving the demand for power quality equipment within this segment.
In terms of Power Quality Equipment Product type, the Uninterruptible Power Supply (UPS) category held the largest market share of 22.6% in 2018.
The statistic indicates that within the Power Quality Equipment Product type category, Uninterruptible Power Supply (UPS) products accounted for the largest portion of the market share in 2018, representing 22.6%. This suggests that among the various types of power quality equipment such as surge protectors, voltage regulators, and power conditioners, UPS systems were the most widely adopted or had the highest sales volume. UPS systems are critical for providing backup power in the event of utility power interruptions, ensuring continuity of operations and protecting sensitive electronic equipment from power disturbances. Their predominant market share highlights the importance of reliable power supply solutions in various applications and industries.
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