According to a new report published by Allied Market Research, titled, “Power Quality Equipment Market,” The power quality equipment market size was valued at $28.5 billion in 2021, and is estimated to reach $49.6 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
Power quality equipment refers to a range of devices and systems designed to ensure the reliable delivery of electrical power with minimal interruptions, voltage fluctuations, and harmonic distortions. These solutions are essential for maintaining the stability, efficiency, and performance of electrical systems across various applications, including industrial, commercial, and residential sectors. Power quality equipment includes uninterruptible power supplies (UPS), voltage regulators, surge protectors, harmonic filters, static VAR compensators, and power conditioners, among others.
The global power quality equipment market has gained momentum due to the growing demand for uninterrupted and high-quality electricity, especially in sectors where even brief power disruptions can lead to significant operational and financial losses. As modern technologies and automated systems become increasingly sensitive to power anomalies, the need for robust power quality solutions continues to rise. Moreover, the increasing integration of renewable energy sources, which often introduce variability into the grid, further underscores the importance of maintaining power quality, thereby driving the market growth.
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The growing development across industrial, commercial, and residential sectors is significantly fueling the expansion of the power quality equipment market. This growth is primarily driven by the rising need for reliable and efficient power solutions to support the smooth operation of machinery and equipment, particularly in industrial environments. Additionally, increasing demand for power quality equipment for grid stabilization applications from utilities—including power generation, transmission, and distribution sectors—especially in emerging economies, is contributing to the market’s global expansion. However, the high costs associated with power quality equipment, coupled with the availability of alternatives such as solid oxide fuel cells and isolation transformers, are expected to pose challenges to market growth in the coming years.
The global power quality equipment market is poised for significant growth, driven by several key factors. One major opportunity lies in the increasing demand for reliable and efficient power distribution systems, especially in rapidly industrializing and urbanizing regions. As industries and infrastructure expand, the need for equipment that ensures stable voltage and frequency becomes critical to prevent energy losses and power interruptions. This demand is further amplified by the integration of renewable energy sources into the power grid, which introduces variability and necessitates advanced power quality solutions to maintain grid stability.
Another significant growth driver is the rising reliance on digital infrastructure, such as data centers and cloud computing services. These facilities require uninterrupted power supply to ensure continuous operation and data integrity. The adoption of Uninterruptible Power Supply (UPS) systems is therefore increasing, as they provide backup power during outages and protect against power quality issues. Additionally, the proliferation of Industry 4.0 technologies and automation in manufacturing processes heightens the need for sophisticated power quality equipment to safeguard sensitive electronic components and maintain operational efficiency.
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The global power quality equipment market is segmented into equipment, phase, end user, and region. Depending on equipment, the market is categorized into UPS, harmonic filters, surge protection devices, voltage regulators, and static VAR compensators. On the basis of phase type, it is bifurcated into single and three phase. The end users covered in the global power quality equipment market analysis include residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of region, the market is analyzed across four major regions such as North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2021, and is anticipated to maintain this dominance in the power quality equipment market trend during the forecast period. This is attributed to presence of key players and a huge consumer base in the region. In addition, rapid expansion of the renewable energy sector, rise in investment toward building & construction of modern grid infrastructure, and increase in R&D efforts in the region are further anticipated to fuel the power quality equipment market growth in the upcoming years.
The global power quality equipment market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include ABB, Ltd., Andritz, Eaton Corporation Plc, Fuji Electric, General Electric, Ideal Electric Power Co., Mitsubishi Electric Corporation, Siemens Energy, Voith GmbH & Co. KGaA, and WEG Group.
Other players operating in the power quality equipment market forecast are Toshiba Corporation, Brush Group, Sustainable Power Systems, Inc., Power Systems & Controls, Inc., Ansaldo Energia, and Modern Power Systems.
The report provides a detailed analysis of these key players in the global power quality equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
Key findings
- By equipment, the UPS segment held the highest power quality equipment market share of about 37.9% in 2021, and is expected to maintain its dominance during the forecast period.
- By end user, in 2021, the industrial segment accounted for 57.08% market share, and is anticipated to grow at a rate of 6.0% in terms of revenue.
- By phase, in 2021, the three-phase power quality equipment segment accounted for 75.39% market share, and is anticipated to grow at a rate of 6.1% in terms of revenue.
- By region, in 2021, Asia-Pacific dominated the global power quality equipment market with 43% of the share, in terms of revenue.
