Global Power Quality Meter Market was valued at US$ 1077.69 Mn. in 2020. Global Power Quality Meter Market size is estimated to grow at a CAGR of 7.2%.
Power Quality Meter Market Overview:
The market report for Power Quality Meter provides a comprehensive analysis of the competition together with data on market share and company profiles for the top international rivals. The study's scope covers a thorough analysis of the Power Quality Meter Market as well as the variables affecting regional variances in the sector's growth.
Market Scope:
Extensive primary research was conducted to collect data and verify key figures once market engineering, which involved market statistics calculations, market size estimates, market projections, market breakdown, and data triangulation, was finished. Top-down, bottom-up, and other data triangulation approaches were frequently used throughout the market engineering process to conduct market estimates and forecasting for the overall market segments and sub-segments described in this study. All data gathered during the market engineering process is subjected to extensive qualitative and quantitative analysis in order to give crucial information throughout the study.
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Drivers:
Due to significant changes in the world's electrical power systems, such as decarbonization, decentralisation, and digitization, the energy management industry is expanding. In order to increase energy efficiency, process performance, and cost, next-generation power quality instruments that monitor, record, and analyse key electrical patterns are being built by manufacturers of advanced power quality metres with the help of this growth. It is anticipated that demand for energy and power quality metres will increase globally as a result of the rising demand for energy management solutions.
Segmentation:
The Power Quality Meter Market is divided into Single Phase and Three Phase segments based on Phase. In 2020, the Three-Phase segment accounted for 61.3 percent of the market. A three-phase power quality metre is widely used in commercial and industrial facilities to support higher loads because it provides power supply at a consistent and effective rate. Three-phase power quality metres are perfect for troubleshooting because they log data, produce detailed reports, and are simple to use. This increases demand for products in this market. During the forecast period, the Single Phase segment is anticipated to expand significantly at a CAGR of 5.89 percent.
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Key Players:
Both primary and secondary research are carried out to determine the market's leaders and forecast market revenue. The in-depth interviewees for the main study included CEOs, marketing executives, and seasoned front-line workers, to name just a few notable thought leaders and subject matter experts. In-depth interviews with significant thought leaders and business experts, including CEOs, marketing executives, and seasoned front-line personnel, were done as part of the primary research.
Reviewing the annual and financial reports of the major manufacturers was done as part of the secondary study. To compute percentage splits, market shares, growth rates, and global market breakdowns, secondary data is used. The outcomes of these calculations are then contrasted with original information. The following companies dominate the Power Quality Meter market:
• Megger
• Sensus
• Siemens
• Valhalla Scientific
• Vitrek
• Wasion Group Holding
• Yokogawa Test Measurement
• Zhejiang Yongtailong Electronic
• BK Precision
• Danaher
• Dranetz Technologies
• Emerson
• FLIR Systems
• Fluke Corporation
• Hioki E.E. Corporation
• Honeywell International
• Itron
• ABB Ltd.
• General Electric
• Schneider Electric SE
• Eaton
• Accuenergy Ltd
Regional Analysis:
The specific market driving forces and changes in market legislation affecting present and future market trends are also included in the regional market research report for Power Quality Meter. In order to assess the potential market as a whole and identify profitable patterns to build a stronger foundation, current and upcoming trends are researched. The current environment and expected trends form the foundation of the regional market's evaluation.
COVID-19 Impact Analysis on Power Quality Meter Market:
The growth of end-user industries using Power Quality Meter declined between January 2020 and May 2020 as a result of a halt in operations. These nations included China, the United States, the United Kingdom, Spain, France, Italy, and Spain. As a result, both the market for Power Quality Meter manufacturers and the earnings of businesses involved in these industries saw a dramatic fall. The market's growth in 2020 was impacted by this. End-user business demand for Power Quality Meter has been significantly reduced as a result of lockdowns and an increase in COVID-19 incidents globally.
Key Questions Answered in the Power Quality Meter Market Report are:
- What market sector represented the most percentage of Power Quality Meter in 2021?
- To what extent is the marketplace competitive?
- What are the main elements impacting the development of the Power Quality Meter market?
- Which region commands the largest market share in Power Quality Meter?
- What is the expected CAGR for the market from 2022 to 2029?
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