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Power Quality Equipment Market Expected to Reach $50.33 Billion by 2031

The global market for power quality equipment is on an impressive growth trajectory, anticipated to grow from $33.23 billion in 2024 to $50.33 billion by 2031, with a compound annual growth rate (CAGR) of 6.5% between 2025 and 2031. This significant expansion is attributed to various factors, primarily the urgent need for industrial modernization, substantial investments in advanced manufacturing technologies, and a rising demand for reliable power supply, especially within the telecommunications sector.

The report, generated by The Insight Partners, identifies key trends that are shaping this market, including increased integration of renewable energy sources, the advent of electric vehicles, and the imperative for efficient power systems across different sectors. As the global energy landscape evolves, power quality equipment becomes essential for maintaining stability and efficiency.

Renewable Energy Sources Fueling Growth

With concerns over climate change and pollution levels due to fossil fuel consumption, there is a pivotal shift toward renewable energy. This global movement prioritizes adopting cleaner energy sources, thereby increasing the demand for power quality equipment used to ensure optimal power measurements at distribution substations. As traditional energy sources pose environmental challenges, renewables emerge as the favored alternative due to their zero emissions and lower pollution levels.

Governments worldwide are incentivizing the transition to renewable projects. The International Energy Agency (IEA) has announced plans for the European Union (EU) to increase its renewable energy targets to 45% by 2030. Such initiatives underscore the need for robust power quality solutions, particularly as energy networks must adapt to accommodate a growing array of renewable resources while ensuring stable grid operations.

The Rise of Data Centers and IT Infrastructure

Parallel to the growth in renewable energy, there's been an unprecedented surge in the expansion of data centers and other IT infrastructures driven by developments in cloud computing, digital transformations, and AI technologies. Strategic locations such as Ireland, the Netherlands, and Germany are becoming pivotal hubs for data centers, owing to their strong regulatory frameworks and access to renewable energy.

Data centers operate continuously, necessitating a consistent and uninterrupted power supply. This demand leads to increased consumption of uninterruptible power supply (UPS) systems, surge protection devices, harmonic filters, and voltage stabilizers—all integral to maintaining seamless operations and safeguarding sensitive IT systems.

Geographic Trends in Power Quality Equipment

In 2024, the Asia Pacific region led the power quality equipment market with the highest revenue share, closely followed by North America and Europe. These trends indicate a dynamic shift in market influence as different regions adapt to evolving energy needs.

Market Segmentation Insights

The power quality equipment market is segmented into various categories based on equipment type, phase, and end-user segments:

• - By Equipment: Categories include smart sensors, thermal sensors, power quality meters, network analyzers, among others. As of 2024, the others segment dominated the market.
• - By Phase: The market is divided into single-phase and three-phase systems, with the three-phase segment showing stronger performance in 2024.
• - By End Users: The market includes distribution system operators (DSO), industrial, commercial, and others, with the industrial segment being the most significant.

Key Players and Competitive Landscape

Prominent companies in the power quality equipment sector encompass Camlin Group, HIOKI E.E. CORPORATION, Schneider Electric SE, ABB Ltd, and Siemens AG. Each of these major players is actively working on innovations to enhance their market positions and meet the rising demands as the industry evolves.

In conclusion, the outlook for the global power quality equipment market remains robust, driven by a persistent demand for stable electricity and advancements in renewable energy technologies. As major companies respond to these challenges, the power quality equipment sector is poised for remarkable growth, offering valuable insights and opportunities for various stakeholders involved in this essential industry.

For more detailed insights into the power quality equipment market, visit The Insight Partners.