The power quality meter is considered an ideal choice when the consistent observing of a three-phase system is demanded. It delivers the metering for voltage, current, real and reactive power energy use, power factor, cost of power and frequency. The power quality alludes to the capability of the electrical equipment consume the energy being supplied to it. In addition, such meters play an essential role in ascertaining the issue areas when an electrical system fails. Consequently, countless end users are utilizing the power quality meters to troubleshoot by finding the root cause and structure a solution to fix the problem.
According to the report analysis, ‘Global Power Quality Meters Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that Eaton, General Electric, Schneider Electric, Emerson Electric Co, Danaher Corporation, Siemens AG, ABB Ltd., Accuenergy, Honeywell International Inc., Itron Inc., Sensus, Wasion Group Holding Ltd., Zhejiang Yongtailong Electronic Co. Ltd and many more are the foremost entities which presently operating in the global power quality meters market more actively for obtaining the competitive edge, ruling around the globe, registering the great value of market share, generating the high percentage of revenue, leading the highest market growth and keep maintaining the governing position by spreading the awareness connected to the advantages and applications of power quality meters, improving the qualitative and quantitative measures of such, establishing the countless research and development programs, increasing the features and benefits of power quality meters, delivering the better consumer satisfaction, employing the young and active personnel, analysing the strategies and policies of government as well as similar entities, and decreasing the associated prices of such.
On the basis of types, the global power quality meters market is segmented into single phase and three phase. On the basis of application, the global power quality meters market is classified into industrial, commercial, transportation and several others. Whereas, it is predicted that the industrial and commercial segment holds the major segment of the market owing to the speedy urbanization and change in living style of individuals.
Factors such as growing investments in renewable power projects, increment in transmission & distribution expenditure, necessity to safeguard the electrical components and networks, and growing construction and industrial activities around the globe are few of the foremost drivers for the growth of the market. Not only has this, aspects, such as the growing requirement for power quality in industrial and manufacturing segments and the augment in smart grid infrastructure are likely to assist the power quality equipment market growth throughout the forecast duration.
The industrial and manufacturing sector is projected to hold the greatest share of the power quality equipment market, by end-user, throughout the forecast duration. Integration of variable renewable energy in power grids and wide-ranging use of non-linear equipment presents a foremost business opportunity for power quality equipment providers functioning across the world in the coming future. Asia-Pacific is projected to dominate the entire power quality equipment market due to the fast-increasing industries, augmented adoption of renewables and frequent blackouts in non-developed countries.
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Global Power Quality Meters Market
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