The Europe Power Quality Equipment Market would witness market growth of 5.9% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Power Quality Equipment Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,796.7 million by 2031. The UK market is exhibiting a CAGR of 5% during (2024 - 2031). Additionally, The France market would experience a CAGR of 6.8% during (2024 - 2031).
The market is expanding rapidly due to several converging factors. In a range of industries, including healthcare, manufacturing, data centers, and telecommunications, there is a growing dependence on sensitive electronic equipment and systems. This is the main reason that is contributing to this development.
Moreover, these sectors necessitate a consistent and dependable power supply to operate efficiently, as even minor disruptions can result in equipment malfunctions, data loss, and operational delays. For instance, in data centers where uptime is crucial, power quality issues can result in catastrophic failures, leading to substantial financial losses.
The European Union’s Green Deal aims for climate neutrality by 2050 and is driving significant investments in renewable energy infrastructure and the transition to electric mobility. While these endeavors are crucial for the reduction of carbon emissions, they present obstacles to the maintenance of grid stability as a result of the increased demand from EVs and the variability of renewable energy sources. In Germany, the increasing demand for power quality equipment in the utilities and transportation sectors is closely linked to the country’s Energiewende (Energy Transition) initiative.
Free Valuable Insights: The Global Power Quality Equipment Market will Hit USD 47.2 Billion by 2031, at a CAGR of 6.1%
Based on Phase, the market is segmented into Three Phase and Single Phase. Based on Product, the market is segmented into Uninterruptable Power Supply (UPS), Power Quality Meters, Surge Protection Devices, Harmonic Filters, Voltage Regulators, and Others. Based on End Use, the market is segmented into Industrial & Manufacturing, Residential, Commercial, Utilities, and Transportation. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Phase
By Product
By End Use
By Country
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