Power Quality Equipment Market

ABB, Ltd. (Switzerland) and Electric Company (U.S.) are the Global Players in the Power Quality Equipment Market

The global power quality equipment market is projected to grow at a CAGR of 6.56%, from 2017 to 2022. The market in North America is estimated to be the largest, followed by Asia-Pacific. This trend is expected to continue till 2022. The growth of the power quality equipment market is driven by non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization.

The power quality equipment market is dominated by a few global players. Key players operating in the market are ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.).

The major strategies adopted by the players include contracts and agreements, new product developments, expansions, and mergers & acquisitions. New product developments was the most commonly adopted strategy from 2013 to 2016. Industry players also adopted contracts and agreements, which was the second most widely followed strategy, during the same period.

ABB, Ltd. is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company operates in four segments, namely, power grids, electrification products, process automation, and discrete automation and motion. It offers power quality equipment under its electrification products division, which accounted for 26% of the company’s total net sales in 2016. The company has a wide array of products ranging from switches and sockets to robots, and from large transformers to control systems that manage entire power networks and factories. The company, through its continuous innovation in the power sector, has been winning numerous awards and scientific accolades. ABB, Ltd. acquired Thomas and Betts (U.S.) in May 2012, a market leader in power quality equipment in the North American region. The company has launched a number of new products in recent years and improved its existing product portfolio. For instance, the company introduced the UL 1449, which offers life-long protection against surges for valuable electronic equipment. The company is likely to focus on continuous innovation through technological advancements. Moreover, ABB emphasized operational excellence by improving its post sales services in the last quarter of 2016.  

Eaton Corporation Plc is a power management company offering a wide range of products related to fuel-efficient systems and power chain management tools. The company operates in five business segments, namely, electrical products, electrical systems and services, vehicles, hydraulics, and aerospace. Eaton’s electrical business segment offers power distribution, power quality, control and automation, and monitoring products and services. The company offers power quality equipment through its electrical products division, which accounted for 35% of the company’s total net sales in 2016. The principal markets for these products are the industrial, institutional, governmental, utility, commercial, residential, and information technology sectors. These products and solutions are used wherever there is a demand for electrical power in commercial buildings, datacenters, residences, apartments and office buildings, hospitals, factories, utilities, and industrial and energy facilities. The company strongly focuses on R&D and product or technology innovations, which would help it to grow in the power quality equipment market, and in regions such as China and India. For instance, in October 2016, the company launched SPC series surge protective devices which provide flexible and configurable surge protection for commercial and light industrial applications. In addition, a wide array of offerings in its power quality equipment portfolio helps the company increase its consumer base globally.

Related Reports:

Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region - Global Forecast to 2022

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