2017 - 2023 power quality equipment market will increase by 5.5%
Power quality equipment market growth is the main driving force in the telecommunications industry to accelerate the trend of digital. Demand for electricity growth has also led to increased use of power quality equipment. The growing demand for protection systems in electronic equipment, the increasing use of alternative energy sources, and the standardization of power quality contribute to market growth.
North America is expected to dominate the global power quality equipment market. The transmission and distribution infrastructure in the area is very old and is bringing huge demand for the installation of power quality equipment. The regional government focuses on rebuilding the infrastructure to overcome the power loss in transmission and distribution. In addition, substantial investment in urban infrastructure, especially the telecommunications industry, is expected to further promote market growth.
The key players in the power quality equipment market include ABB (Switzerland), Active Power (USA), Eaton Group (Ireland), Emerson Electric (USA), General Electric (USA), MTE (USA), Schneider Electric (France) Siemens (Germany), Smith Group (UK), Toshiba (Japan).