Asia Pacific Power Quality Equipment Market

Market Introduction

The Power Quality Equipment Market is expected to witness significant growth in the coming years attributing to increasing demand from developing nations and emergence of smart power solutions.

Thus, the growing industrial, manufacturing & processing sector are expected to create a significant demand for Power quality equipment in the coming years, which is further anticipated to drive the power quality equipment market.

India is the worst-affected country in APAC, considering the outbreak of COVID-19. APAC witnessed a notable decline in numerous economic activities as the government-imposed travel bans, strict lockdowns, and business shutdown. In many Asian countries, buying capacity of consumers reduced drastically due to the disruption of trade operations. Expenditure, especially on nonessentials, was also avoided. Fitness centers, spas, parlors, mining, oil & gas, glass, and cement are among the worst-hit industries. As swimming pools, gyms, parlors, and salons were closed as per the orders from the concerned authorities, the demand for various power quality equipment that ensure uninterrupted power went down terrifically. Due to less demand, the production of power quality equipment dropped significantly. However, new healthcare facilities and oxygen plants being set up in India to handle the rising cases of COVID-19 are propelling the demand for power quality equipment such as UPS systems, power quality meters, and static VAR compensators. Additionally, with respect to international trade, China, Hong Kong, South Korea, and Japan are the top Asian exporting countries that observed a decline in their exports. Thus, with a disrupted supply chain coupled with weak demand, an overall negative impact was observed on the growth of the power quality equipment market in 2020.

Market Overview and Dynamics

The power quality equipment market in Asia Pacific is expected to grow from US$ 7,988.6 million in 2021 to US$ 13,422.9 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028. Rapid growth of manufacturing industries and processing sector is boosting the electricity consumption. Industrial manufacturing and food processing sectors are among the largest consumers of electricity, followed by other sectors such as transportation, healthcare, commercial, and residential. Factors such as rising population, growing disposable income, and increasing digitalization are enabling consumers for online purchasing and payments in the region. This is bolstering the growth of manufacturing industries in the region. In addition, several governments in region are promoting manufacturing industries, which is another key factor for the rapid industrialization. Thus, the aforementioned trends in the region are generating scope for related power quality equipment to ensure regulated power supply in industries with minimal spikes and to prevent hardware damages due to power fluctuations. Also, the continuously growing processing sector globally due to the rise in demand for fast moving consumer goods is expected to keep floating the demand for power quality equipment for the stable power supply in the processing factories. Thus, the continuously growing manufacturing and processing sector is expected to generate the demand for power quality equipment during the forecast period.

Key Market Segments

In terms of equipment, the others segment accounted for the largest share of the Asia Pacific power quality equipment market in 2020. In terms of phase, the three-phase segment accounted for the largest share of the Asia Pacific power quality equipment market in 2020. In terms of end user, the industrial and manufacturing segment held a larger market share of the power quality equipment market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Power quality equipment market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.

Reasons to buy report

• To understand the Asia Pacific Power quality equipment market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific Power quality equipment market
• Efficiently plan M&A and partnership deals in Asia Pacific Power quality equipment market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific Power quality equipment market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.

ASIA PACIFIC POWER QUALITY EQUIPMENT MARKET SEGMENTATION

By Equipment

• Uninterruptable Power Supply (UPS)
• Harmonic Filters
• Static VAR Compensator
• Power Quality Meters
• Others

By Phase

• Single Phase
• Three Phase

By End User

• Industrial and Manufacturing
• Commercial
• Others

By Country

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific

Companies Mentioned

1. Acumentrics.
2. Emerson Electric Co.
3. AMETEK Inc.
4. Eaton.
5. General Electric Company
6. Schneider Electric SE
7. Siemens AG
8. Toshiba Energy Systems & Solutions Corporation  
9. Hitachi ABB Power Grids Group
10. Piller Group GmbH 

Asia Pacific Power Quality Equipment Market Strategic Insights

Asia Pacific Power Quality Equipment Market Segmentation Analysis

Asia Pacific Power Quality Equipment Market Report Highlights

Asia Pacific Power Quality Equipment Report Scope

Asia Pacific Power Quality Equipment Market Country and Regional Insights