Market Size of Power Quality Equipment Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 16.82 Billion |
| Market Size (2029) | USD 23.99 Billion |
| CAGR (2024 - 2029) | 7.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Power Quality Equipment Market Analysis
The Power Quality Equipment Market size is estimated at USD 16.82 billion in 2024, and is expected to reach USD 23.99 billion by 2029, growing at a CAGR of 7.40% during the forecast period (2024-2029).
- Over the medium term, factors, such as the increasing demand for power quality in industrial and manufacturing sectors and the increase in smart grid infrastructure, are likely to support the power quality equipment market growth during the forecast period.
- On the other hand, high costs of power-quality equipment are expected to restrain the power-quality equipment market during the forecast period.
- Nevertheless, the integration of variable renewable energy in power grids and the extensive use of non-linear equipment present significant business opportunities for power-quality equipment providers operating across the globe in the near future.
- Asia-Pacific is expected to dominate the overall power quality equipment market owing to the fast-growing industries, increased adoption of renewables, and frequent blackouts in non-developed countries.
