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Allied Market Research

Power Quality Meter Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

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Aug 2021 | 237 Views
   
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COVID-19

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A power quality meter is a machine designed to generate electricity. A power quality convertor is required for generators to adjust the generator frequency and voltage. This energy is also used to work for mill grains, drive machinery, and pump water. A power quality meter can also convert the variable frequency output of an induction generator, driven by the variable speed of turbine. The system is recognized as renewable, eco-friendly, and emits no carbon dioxide. Therefore, these benefits are expected to witness significant growth of the power quality meter market over the forecast timeframe.

Scope of the report:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Application, End user, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

ABB, Alstom, AMSC Windtec USA Suzhou, Emerson Network Power CO, Schneider, Sungrow Power supply Co, Siemens AG

 

COVID-19 scenario analysis:

  • The recent lockdown measures over the past few months have significantly reduced electricity demand in the commercial and industrial sectors. 
  • The International Energy Agency (IEA) predicted a demand drop of 5% in the power sector by the end of 2020. This is expected to decline the demand for power quality meter.
  • Decline in the demand resulting from fallen economic activities prompted by this pandemic is expected to lead to lower production rate and high inventory cost.
  • Companies across the power sector ceased or decreased capital expenditures and non-critical investments have been delayed. This negatively affected the market growth.
  • Moreover, local and international travel restrictions have delayed many new projects in the power sector, which diminished the growth rate for the market.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The need to replace current energy sources, such as fossils fuel, gas, and coal, are the major drivers for the high demand for power quality meter systems. The market is diverting toward the adoption of renewable sources of energy and is considered a safe environment. Therefore, meters have been widely used for generating electricity. This accelerated consumption of electricity in commercial and other industrial processes also boosts the demand for renewable power quality meter. Power meter also adopts the changing speeds continuously with respect to the changing wind velocity, thus they are considered high-efficiency technology for electricity generation.

The global power quality meter trends are as follows:

New product launches to boost the market

The major market players also have taken the necessary steps to improve the accuracy of devices and overall functionality. The increasing installation rate of power quality meter across the globe plays a significant role in the evolution of the market. More focus is given to the design and control of power converters. The new technologies have been used for increasing the overall performance of the power quality meter and build innovative blade manufacturing techniques. The adoption of wind-induced energy harvesting devices and smart rotors is an emerging trend in the power quality meter market.

Surge in usage in commercial and industrial applications 

Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on utilization. Leading market players have determined how improved accuracy can be influential in many applications. The need to generate electrical power with a wide range of speeds leads to high usage of power quality meter system. Furthermore, this system has the ability to capture and transfer the energy to the grid or a load.

Key Segments Covered:

Segments

Sub-Segments

  By Application

  • Induction Generators
  • Electricity
  • Distribution Panels
  • Others

  By End User

  • Residential
  • Commercial
  • Industrial

 

Key benefits of the report: 

  • This study presents the analytical depiction of the global power quality meter market along with the current trends and market estimation to determine the imminent investment pockets.
  • The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the power quality meter market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the power quality meter market growth scenario.
  • The report provides a detailed analysis based on competitive and how the competition will take shape in coming years.
  • This report helps users in comprehending the key product segments and their future.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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  • Regional government and statistical databases for macro analysis
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  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
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  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
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Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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