Global Power Quality Meter Market 2017-2021
About Power Quality Meter
Power quality is measured according to the quality with which it is delivered to the end customers; power quality is deemed as high when it has clean sinusoidal waveforms without any spikes, sags, and other electrical disturbances. It should also be free from transients, harmonics, and other such distortions. Over the years, with the advances in technologies and equipment, power quality has become a major issue for power providers and their customers.
Technavio’s analysts forecast the global power quality meter market to grow at a CAGR of 5.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global power quality meter market for 2017-2021. To calculate the market size, the report considers the sales/volume/value market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Power Quality Meter Market 2017-2021
Technavio recognizes the following companies as the key players in the global power quality meter market: ABB, Eaton, Electro Industries/GaugeTech, GE, and Schneider Electric.
Other Prominent Vendors in the market are: Accuenergy, B&K Precision, Danaher, Dranetz Technologies, Emerson, FLIR Systems, Fluke Corporation, HIOKI E.E. CORPORATION, Honeywell International, Itron, Keysight Technologies, Megger, Sensus, Siemens, Valhalla Scientific, Vitrek, Wasion Group Holding, Yokogawa Test & Measurement, and ZHEJIANG YONGTAILONG ELECTRONIC.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Development of energy-efficient buildings. Many high-tech, newly constructed buildings worldwide make the maximum use of daylight in order to reduce energy consumption. Similarly, building contractors are trying to use many energy-efficient devices like LED for lighting or energy-efficient air conditioners so that electricity is not wasted”
According to the report, one of the major drivers for this market is Increasing investments in renewable energy projects. There has been a rapid and substantial increase in the number of renewable energy projects over the last few years due to the depletion of non-renewable energy sources as well as the focus on reducing carbon emissions from such sources. As a result of this, the governments in many nations have started taking steps to reduce the use of fossil fuels by promoting solar, wind, tidal, and hydropower projects.
Further, the report states that one of the major factors hindering the growth of this market is Slowdown in Chinese economy. The slowdown that the Chinese economy has been experiencing will have an adverse effect on the market. The Chinese GDP grew at only 7.3% in 2014, which was the slowest since 1990; the growth declined further to 6.9% in 2015. The slowdown is mainly attributed to the slow performance of the country's real estate sector, together with the enormous manufacturing overcapacity. In the manufacturing sector, state-owned firms face huge excess capacity in production. The problem can only be resolved if there is a growth in demand for the products manufactured by these firms. Also, as China is a major country for other export-driven countries, the slowdown will adversely affect such countries.
ABB, Eaton, Electro Industries/GaugeTech, GE, Schneider Electric, Accuenergy, B&K Precision, Danaher, Dranetz Technologies, Emerson, FLIR Systems, Fluke Corporation, HIOKI E.E. CORPORATION, Honeywell International, Itron, Keysight Technologies, Megger, Sensus, Siemens, Valhalla Scientific, Vitrek, Wasion Group Holding, Yokogawa Test & Measurement, and ZHEJIANG YONGTAILONG ELECTRONIC.
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