Power Quality Meter Market - Global trends & forecasts to 2021 - New Market Report
New Energy market report from Markets and Markets: "Power Quality Meter Market - Global trends & forecasts to 2021"
[ClickPress, Wed Jun 22 2016] Power Quality Meter Market by application (Distribution Panels, Substation Monitoring, Equipment, and others), by End-User (Industrial, Commercial, Utility, Transportation and Others), by Phase and by Region - Global trends & forecasts to 2021
Power Quality meter market projected to grow at a CAGR of 7.5% from 2016 to 2021"
The power quality meter market is projected to reach USD 1,252.0 million by 2021, growing at a CAGR of 7.5% during the forecast period. Power quality meters play a crucial role in the industrial, manufacturing, and commercial sectors across various applications, including transformers, feeders, motors, motor control centers, and other equipment. The growing need to protect electrical networks and components, investments in renewable power plants, and increasing refurbishment activities in developed economies are expected to drive the global power quality meter market.
"Utility: The fastest growing end-user segment"
Utility is estimated to constitute the fastest growing end-user segment of the power quality meter market. The reason for the same can be attributed to the increasing investments in transmission & distribution infrastructure in developed economies; North America and Europe are investing heavily in upgrading their existing transmission & distribution infrastructure.
"Asia-Pacific: The fastest growing market for power quality meter"
Asia-Pacific is estimated to be the fastest growing market for power quality meters, followed by Europe and North America. China accounted for the largest share in the Asia-Pacific power quality meter market in 2015, and is projected to grow at the highest CAGR after India from 2016 to 2021. This can be attributed to the rising awareness for the supply of the quality power and increasing number of industries and manufacturing facilities in the country. Increasing investments in transmission & distribution infrastructural development, energy-efficiency measures, and renewable projects in the country also play a vital role in boosting the growth for the installation of power quality meters. Government of several countries in the Asia-Pacific region are swiftly making stride toward implementing stricter regimes for the supply of the quality power at the commercial facilities such as IT hubs, banking institutions, and other facilities which would further drive the demand for power quality meters.
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Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, corporate-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1-35%, Tier 2-45%, and Tier 3-20%
By Designation: Corporate Level-35%, Director Level-25%, and Others*-40%
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