Global Energy and Power quality meters market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7% during the forecast period.
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Global Energy and Power quality meters market Definition
Energy and Power quality meters are instruments that are basically used to provide metering for voltage, current, reactive, and real power, cost of power, energy use, frequency, and power factor. This device can also be used to avoid system outages and damages of the particular device.
Global Energy and Power quality meters market Dynamics
A surge in the adoption of Energy and Power quality meters in various industries such as commercial, industrial, and manufacturing sectors is the major driving factor behind the growth of the market. An increasing demand for Energy and Power meters to improve quality and performance of the distribution system and rising significance of Energy and Power quality meters in applications such as power factor, load shedding, low and medium voltage systems and in metering of transformers, distribution feeders, capacitor banks generators and motors are expected to improve the growth of the market during the forecast period.
However, lack of awareness regarding the significance of testing and quality measurement equipment and high cost associated with the installation are the major restraining factor that could hamper the growth of the market.
Global Energy and Power Quality Meters Market: Segmentation Analysis
By phase, three phase segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. An increasing expenditure in renewable power plants, transmission & distribution infrastructure and infrastructural & industrial activities is accredited to the growth of the market. Also, rising demand for Energy and Power quality meters in three phase systems for energy auditing, for quality power measurements with higher accuracy, to constantly analyze & monitors power lines for disturbance and to enable efficient supply of energy & power equipment are likely to expand market growth in the coming years.
By end-user, commercial utilities segment dominated the market in 2019 and is projected to witness high growth at a CAGR of XX% during the forecast period. The dominance place is attributed to the growing adoption of Energy and Power quality meters in various commercial facilities such as financial institutions, IT hubs and others commercial applications such as offices, hotels, and shopping malls. The surge in the demand for HVAC systems and other electronic devices in these commercial applications are making more demand for Energy and Power quality meters in the commercial sector, which is ultimately propelling the growth of the market.
Global Energy and Power Quality Meters Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The economies such as China, Japan, South Korea, and India are the major key contributors behind the growth of the market. The growth is attributed to the increasing demand for electricity and power in the developing economies across the region. Rising industrialization and urbanization, rising consumption of energy, growing initiatives and investment by government in power generation sector, rising focus of manufacturers of energy & power quality meters to expand their business across the globe and rising demand for the supply of quality Energy and Power are driving the growth of the market in APAC region.
Global Energy and Power Quality Meters Market: Key Development
• In Jan 2020, Schneider Electric announced the development of the PowerLogic ION9000 series power meter range with the PowerLogic ION9000T, to use in crucial facilities such as to avoid equipment damage, outages, interruption of operations and failures.
The objective of the report is to present a comprehensive analysis of the Global Energy and Power Quality Meters Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Energy and Power Quality Meters Market dynamics, structure by analyzing the market segments and projects the Global Energy and Power Quality Meters Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Energy and Power Quality Meters Market make the report investor’s guide.
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The Scope of Global Energy and Power Quality Meters Market: Inquire before buying
Global Energy and Power Quality Meters Market, By Phase
• Single Phase
• Three Phases
Global Energy and Power Quality Meters Market, By Application
• Distribution Panels
• Substation Monitoring Equipment
Global Energy and Power Quality Meters Market, By End-User
• Industrial & Manufacturing
• Commercial Utilities
Global Energy and Power Quality Meters Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Energy and Power Quality Meters Market, Key Players
• ABB Ltd
• Siemens AG
• General Electric
• Schneider Electric SE
• Eaton Corporation
• Fluke Corporation
• Accuenergy Ltd
• Premium Power Ltd
• Elmeasure India Pvt. Ltd
• Dranetz Technologies
• FLIR Systems
• Honeywell International
• Keysight Technologies
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