Europe 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.

In Europe, France, Russia, Italy, the UK, Spain, and Germany are among the worst-affected countries by the COVID-19 pandemic. The region experienced a significant decline in revenue from numerous industries as the government enacted strict containment measures. Several types of power quality equipment, such as UPS systems, are widely used at retail stores, wholesale stores, hotels, restaurants, warehouses, etc. Restaurants witnessed a drastic decline in footfall due to travel limitations and restrictions imposed on people’s movement. This consequently affected the operations at retail stores, wholesale stores, and warehouses. Therefore, the demand for UPS systems dedicated to these fields declined significantly. However, there was some demand for UPS systems in the cloud kitchens that were operational during this period. Europe had large-scale import–export trade operations before the pandemic. Supply of various power quality equipment declined in the entire European region with the drop in import–export activities. As the supply chain of various industries got disrupted, including power quality equipment, the market players witnessed severe hardships in selling their products in 2020. New start-ups and businesses require industrial HVACs, factory equipment, and other power equipment. As no significant new businesses were coming up, the power quality equipment market experienced a decline from the demand side in 2020.

Market Overview and Dynamics

The power quality equipment market in Europe is expected to grow from US$ 7,051.4 million in 2021 to US$ 11,459.0 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The demand for power quality equipment (PQE) is gaining traction due to the rising application of PQE at electric vehicles (EVs) power station. The equipment provides a stable power frequency to charge electric vehicles and avoid any voltage deviation while charging. The increasing number of electric vehicles globally is poised to increase the EVs charging stations, and it is expected to set a future trend for power quality equipment. Also, the demand for electric vehicles is set to increase as governments of many countries are promoting the use of EVs. Hence, such government promotions for adopting electric vehicles are expected to fuel the growth of power quality equipment market in the near future.

Key Market Segments

In terms of equipment, the others segment accounted for the largest share of the Europe power quality equipment market in 2020. In terms of phase, the three-phase segment accounted for the largest share of the Europe 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 Europe 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 Europe 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 Europe Power quality equipment market
• Efficiently plan M&A and partnership deals in Europe 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 Europe Power quality equipment market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE 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

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

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 

Europe Power Quality Equipment Market Strategic Insights

Europe Power Quality Equipment Market Segmentation Analysis

Europe Power Quality Equipment Market Report Highlights

Europe Power Quality Equipment Report Scope

Europe Power Quality Equipment Market Country and Regional Insights