North America Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Equipment, Harmonic Filters, Static VAR Compensator, Power Quality Meters, and Others); Phase; End-Users

Others Segment has the Largest Share of Equipment in the North America Power Quality Equipment Market during 2021-2028

According to a new market research study on “North America Power Quality Equipment Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Equipment, Phase, and End-user” is expected to reach US$ 15,963.1 million by 2028 from US$ 10,620.3 million in 2021. The market is estimated to grow at a CAGR of 6% from 2021 to 2028. The report provides trends prevailing in the North America Power quality equipment market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing industrial manufacturing and processing sector are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of deployment and installation.

The North American market had to undergo considerable economic loss during the first two quarters of 2020 owing to the high number of COVID-19 cases, particularly in the US. Due to various limitations and restrictions, manufacturing, construction, metal & mining, and commercial industries witnessed a decline in production, thereby leading to an economic slowdown. Also, the imposition of stringent containment measures allowed operations only with a limited employee count. This hampered the overall production in the US. Power quality equipment help in supplying uninterrupted power for various distinct applications; however, the demand for uninterrupted power supply decreased significantly with the drop in the number of visitors to hotels and malls. Furthermore, as educational institutes were closed, the requirement of power quality meters in laboratories decreased considerably. However, as companies began switching to work-from-home, the demand for uninterrupted power supply (UPS) systems - specially designed and manufactured for residential purpose - raised significantly. The power quality equipment market is expected to experience steady growth in North America when economies return to normalcy in the coming years.

The market for power quality equipment market is segmented into equipment, phase, and End-user. Based on equipment, the power quality equipment market is segmented into uninterruptable power supply (UPS), static VAR compensator, harmonic filters, power quality meters, and others. In 2021, the others segment is estimated to account for the largest market share in the power quality equipment market. Portable power equipment, power conditioners, surge protective devices, power and energy meters, solid oxide fuel cell, static transfer switch, line voltage regulators, power distribution units, reactors & inductors, and frequency converter are other types of power quality equipment available in the market. Based on the requirement of the application, market players offer this equipment in various features, shape, sizes, efficiency, and accuracy all over the world. Client can also ask for customized power quality equipment.

Acumentrics. Emerson Electric Co. AMETEK Inc. Eaton. General Electric Company, Schneider Electric SE, Siemens AG, Toshiba Energy Systems & Solutions Corporation, Hitachi ABB Power Grids Group, and Piller Group GmbH are among the leading companies in the North America Power quality equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Acumentrics introduces SmartPDU, a new power distribution system which offers an unprecedented combination of convenience, flexibility, secure control, and system data. Such benefits ensure optimal operation of shipboard electronic systems along with the ability to accommodate changes and upgrades.

The market for Power quality equipment market is segmented into equipment, phase, and End-user. Based on equipment, the Power quality equipment market is segmented into uninterruptable power supply (UPS), harmonic filters, static VAR compensator, power quality meters, and others. Based on phase, the Power quality equipment market is segmented into single phase, and three phase. Based on End-user, the Power quality equipment market is segmented into industrial and manufacturing, commercial, and others. Geographically, the Power quality equipment market is segmented into North America (the US, Canada, and Mexico)

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America power quality equipment market
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• The key findings and recommendations highlight crucial progressive industry trends in the North America power quality equipment market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the power quality equipment market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution