The power quality equipment market is expected to grow at a CAGR of 6.56%, from 2017 to 2022, to reach a market size of USD 40.85 Billion by 2022. Non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization are the major drivers of the power quality equipment market.
The ecosystem of the global power quality equipment market starts with the manufacturer of basic components, such as copper and aluminum. The manufactured parts are then assembled by the OEM to form variety of power quality equipment, which are then tested. This is followed by the distribution stage, following which, the product is provided to the end-users.