Power Quality Equipment Market: Overview
Power quality is addressed typically based on a number of parameters. Common parameters such as flicker, current, harmonics, voltage dips, power, voltage, and transients are handled by power quality measurement equipment. These equipment are able to handle multiple disturbances. The fact that instruments which can handle multiple disturbances measurements is the prime reason for its usage in power quality measurement because these disturbances tend to become a potential fault condition. It is difficult to predict in advance what kind of disturbances may result in a potential fault; therefore, instruments with multiple disturbance detection capabilities are put into use.
Power Quality Equipment Market: Dynamics and Trends
Power quality monitoring equipment are embedded in the system itself for ease of access and improved accuracy in measurements. Power quality equipment primarily aim to reduce multiple equipment usage in a system where the entire work of measurement can be done with a single or a couple of units. As the system grows, the scalability of the power quality measurement equipment increases. Thus, it is possible to analyze multiple meters simultaneously. These equipment can centrally configure and administer meters into groups. They can automatically download data from the meters itself. A simplified overview of the disturbance can be achieved. This output can be spread throughout the grid for rectification process. .
Power quality equipment also support the databases where collection and analysis of the data can be read and stored with no time lags. This measurement of quality is essential to extract statistical data of power quality measurement that is vital for long term basis. For instance, review and analysis of the data collected over several years can be performed using power quality equipment in order to obtain immunity from disturbances. Trends that occur over a period of time can also be extracted from these equipment.
Power quality equipment can also measure and analyze data required for a short (monthly basis) period. Power quality measurement equipment with display screen can perform short measurements (hours and minutes based). This is essential in cases where constant troubleshooting has to be performed on the system. These equipment can also function in sub-zero temperatures and extreme temperature-variation regions/places.
Power Quality Equipment Market: Segmentation
In terms of equipment, the power quality equipment market can be segmented into surge protection devices, power quality meters, harmonic filters, un-interrupted power supply, power conditioning units, and others. Based on end-user, the market can be divided into utilities, commercial & residential, industrial & manufacturing, and others. In terms of region, the global power quality equipment market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Power Quality Equipment Market: Region-wise Outlook
The global power quality equipment market is driven by the rise in requirement of electronic devices protection systems, power quality uniformity and uninterrupted supply, and global quality standardization in power quality measurements. Asia Pacific is expected to account for major share of the power quality equipment market during the forecast period, especially after the Paris Agreement on climate change in 2016.
Power Quality Equipment Market: Key Players
Key players operating in the global power quality equipment market include ABB Ltd., Siemens AG, Schneider Electric, EATON Corporation Plc., and Emerson Electric Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.