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Overview of the global power quality meter market

According to Technavio's market research analysis, the rising investments in renewable energy projects will be one of the major factors that will drive the growth of the power quality meter market till 2021. Owing to the depletion of non-renewable energy sources and the rising focus on reducing the carbon emissions, the recent years witnessed a rapid increase in the number of renewable energy projects. The increasing environmental concerns is inducing governments to take initiatives towards the reduction of fossil fuels by promoting solar, wind, tidal, and hydropower projects. This focus towards renewable energy projects, will subsequently increase the demand for power quality meters to measure the quality of the power generated in distribution substations. Our market research analysts predict that this market will grow at a CAGR of almost 6% by 2021.

Power quality monitoring systems are used to prevent system outages and damages. Moreover, these systems also assist in isolating the challenging areas and in identifying solutions. Additionally, the utilization of power quality meters will also enable building managers to avoid expensive issues that are not analyzed during spot checking and power quality analysis. Such benefits will drive the permanent installation of power quality meters, which according to our industry research report, will be one of the key trends that will gain traction in the power quality meter market.

Competitive landscape and key vendors

The power quality meter market consists of numerous global, local, and regional vendors. Several regional vendors offer high-quality products at lower prices than the global vendors. The existing vendors will try to gain more market shares by expanding their product portfolio and introducing innovative products. Owing to technological advancements, the competitive environment among the players in the power quality equipment market will intensify in the coming years.

The leading vendors in the market are ?

• ABB
• Eaton
• Electro Industries/GaugeTech
• GE
• Schneider Electric

The other prominent vendors in the market are Accuenergy, B&K Precision, Danaher, Dranetz Technologies, Emerson, FLIR Systems, Fluke Corporation, HIOKI E.E. CORPORATION, Honeywell International, Itron, Keysight Technologies, Megger, Sensus, Siemens, Valhalla Scientific, Vitrek, Wasion Group Holding, Yokogawa Test & Measurement, and ZHEJIANG YONGTAILONG ELECTRONIC.

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Segmentation by end-user and analysis of the power quality meter market

• Industrial sector
• Commercial sector
• Utility sector

During 2016, the industrial sector was the major end-user to the power quality meter market. The growing investments in the industrial sector and the increasing demand for power quality meters from the developing countries, will be the major factors contributing to the growth of the power quality equipment market in this industry segment.

Geographical segmentation and analysis of the power quality meter market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the power quality meter market throughout the forecast period. The rise in new industrial and commercial development projects and the developments in renewable energy projects, will be the primary factors driving the demand for power quality meters in this region.

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 Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global power quality meter market?
• What are the key market trends impacting the growth of the global power quality meter market?
• What are the challenges to market growth?
• Who are the key vendors in the global power quality meter market?
• What are the market opportunities and threats faced by the vendors in the global power quality meter market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global power quality meter market?

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According to our analysts, one of the major reasons for the growth of the global power quality meter market is the increase in construction and industrial activities. This market report on the global power quality meter market cover vendors ABB Ltd, Siemens, Schneider Electric SE, General Electric, and Eaton Corporation to offer a holistic overview of the market for the estimated period of 2017-2021.

This market research report on the global power quality meter market provides deep insights into the heavy industry focusing on major sectors like test and measurement. Furthermore, this report on the global power quality meter market is segmented across various geographies like the Americas, APAC, and EMEA to offer a wide-ranging perspective of the market and help the client expand in the niche as well as international markets.

This market research report on the global power quality meter market offers deep-dive assessments into the market in terms of market segments, market share and size, and market trends and drivers. Furthermore, this report on the global power quality meter market follows an in-depth market research methodology comprising of qualitative and quantitative data collection techniques.

Our market report on the global power quality meter market offers insights into other major segments in the heavy industry like the engineering tools market. This report also considers similar growing markets like the electrical testers market, which is expected to grow rapidly at a CAGR of around 4% by 2021.

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