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Europe Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Equipment ; Phase ; End-Users

Europe Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Equipment ; Phase ; End-Users

  • August 2021
  • 129 pages
  • ID: 6134307
  • Format: PDF
  • The Insight Partners


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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 electricity consumption worldwide is increasing with the rapid growth of the manufacturing and processing sectors.The transportation, healthcare, commercial, and residential sectors are other prime contributors to the rise in electricity consumption.

In Asia Pacific, elevating population, growing disposable income, and increasing digitalization are driving consumers preference toward online purchases and payments.In addition, several governments in the region are promoting the growth of respective manufacturing industries.

The aforementioned trends are leading to surge in the adoption of related power quality equipment to ensure regulated power supply in industries, thus protecting hardware from damages caused by power fluctuations.Also, continuously growing processing industries due to the rise in demand for fast moving consumer goods are further bolstering the demand for power quality equipment.

Thus, the continuously growing manufacturing and processing sector is expected to generate the demand for power quality equipment during the forecast period.

The market for Europe power quality equipment market is segmented into equipment, phase, and end user.Based on equipment, the power quality equipment market is segmented into uninterruptable power supply (UPS), static VAR compensator, harmonic filters, power quality meters, and others.

In 2021, the others segment is estimated to account for the largest market share in the power quality equipment market.Portable power equipment, power conditioners, surge protective devices, power and energy meters, solid oxide fuel cell, static transfer switch, line voltage regulators, power distribution units, reactors & inductors, and frequency converter are other types of power quality equipment available in the market.

Based on the requirement of the application, market players offer this equipment in various features, shape, sizes, efficiency, and accuracy all over the world. Client can also ask for customized power quality equipment.

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 governments enacted several strict containment measures to control the spread of infection.

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 the restrictions imposed on people’s movement.

This consequently affected the operations at retail stores, wholesale stores, and warehouses, thus resulting in the significant decline in the demand for UPS systems dedicated to these fields.However, the cloud kitchens that were operational during this period contributed to the demand for UPS systems to some extent.

Europe had large-scale import–export trade operations before the pandemic. However, drop in these activities during the pandemic period interrupted the supply of various power quality equipment in the region. The disruption of the supply chains of various industries, including power quality equipment, caused further adversities for the power quality equipment market players in 2020. New start-ups and businesses require industrial HVAC systems, factory equipment, and other power equipment. As no significant new businesses were coming up, the power quality equipment market experienced an overall reduction in demand in 2020.

The overall Europe Power quality equipment market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe Power quality equipment market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Power quality equipment market. 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 are among a few players operating in the Europe Power quality equipment market.

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