Power Quality Analyzer Market is expected to grow at CAGR 6.2% during the forecast period, 2025
Published | March 2019
According to BlueWeave Consulting, The global Power Quality Analyzer market is estimated to grow at a CAGR of 6.2%, during the forecast period 2019-2025 owing to rapid industrialization, high investments in the renewable projects, up-gradation of transmission & distribution infrastructure.
Rising industrialization & infrastructural activities coupled with massive investments in renewable power plants, will boost the Global Power Quality Analyzer Market. Moreover, the increasing importance of an electric power analyzer to protecting electrical components and the networks and increment in industrial activity and infrastructural investments across the globe will drive the global Power Quality Analyzer market.
Power Quality Analyzer is the most commonly used tool to observe real-time readings of electrical activity like voltage, current & quality, and also collect data for downloading to computers for analysis. The increased risk of electrical equipment failure or damage due to poor power quality also adds the cost of replacing equipment, diagnosis, and labor will augment the power quality analyzer market. Furthermore, the industrial and manufacturing sector is also expected to make a significant contribution to the growth of the global power quality analyzer market. The growth will be driven by the rising need to create an uninterrupted power supply to achieve the desired output in the most efficient manner. Power quality analyzers are especially deployed to prevent power outages that can severely impact operations, also generating huge losses.
The portable product type of Power Quality Analyzer market is projected to be the leading segment of the overall market during the forecast period.
Based on product type, the Power Quality Analyzer market has been segmented into portable and Online. Portable type product dominates the global Power Quality Analyzer owing to properties of portable analyzer such as user friendly navigation screens and Bluetooth and SD cards for communication and data logging. Online analyzer products will be driven by the power plant and larger manufacturing industry for identifing trends accurately, and address operational issues before costly problems arise. Onlien Product type also provides a maintainence record of plant operating conditions for increased plant uptime and improve productivity for a lifetime.
Electric Power Enterprise is projected to be the leading application for utilizing Power Quality Analyzer during the forecast period
On the basis of application, the global Power Quality Analyzer market segmented into Electric Power Enterprise and Industry Enterprise. By application type, Electric Power Enterprise will lead the market due to growing awareness among people to avoid low-quality power, uninterrupted power supply, and minimize cost in electric consumption. The industry enterprise segment will be driven by rapid industrialization in small cities, which will need of uninterrupted power supply.
Distribution channel is expected to leading sales channel for distributing Power Quality Analyzer during the forecast period.
On the basis of the sales channel, the global Power Quality Analyzer market has been segmented into direct channel and distribution channel. By sales channel, Distribution channel is projected to lead the market owing to major increments in online-based consumers and rapid enhancement in retail stores. Direct sales segment will drive by increment in opening of authorized and providing services through online portals.
Asia Pacific accounts for lion’s share of the global Power Quality Analyzer market during the anticipated period.
Based on region, the Power Quality Analyzer market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the Global Power Quality Analyzer market during the forecast period, owing to the rapid pace of industrialization and urbanization, setting up new distribution and transmission lines in this region. North America is projected to be the fastest-growing market throughout the forecast period due to major projects in energy-efficiency measures and renewable projects and investments in effective smart grid initiatives.
Global Power Quality Analyzer Market Competitive Landscape
Companies, such as Fluke Corp, Hioki, Chauvin Arnoux, Yokogawa, Extech, Kyoritsu, Sonel, HT Instruments, Dranetz, Metrel d.d. , Satec, Elspec, Ideal, Janitza Electronics, Megger, Reinhausen Group, XiTRON, Gridsense, CANDURA Instruments, DEWETRON GmbH, Summit Technology, UNI are the key players in manufacturing Power Quality Analyzer. In terms of product offerings, Fluke Corp, Hioki, and Chauvin Arnoux are the major players in the market.
Browse Detailed Analysis with TOC, “Global Power Quality Analyzer Market, By Product Type (Portable and Online), By Applications (Electric Power Enterprise And Industry Enterprise), By Sales Channel (Direct Channel And Distribution Channel), By Region (North America, Europe, Asia Pacific, Middle East & Africa And Latin America); Size And Forecast, 2018-2025”
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Power Quality Analyzer Market size & forecast. The report promises to provide state-of-the-art technology of Power Quality Analyzer production and industry insights, which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.