The North America Power Quality Equipment Market would witness market growth of 5.7% CAGR during the forecast period (2024-2031). The US market dominated the North America Power Quality Equipment Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9,548.6 million by 2031. Canada market is experiencing a CAGR of 7.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.1% during (2024 - 2031).
As renewable energy grows, the need for power quality management becomes increasingly critical. Countries are investing in advanced technologies to address the challenges posed by renewable energy variability, ensuring that the transition to cleaner energy sources does not disrupt the stability and reliability of electricity grids. Additionally, this growing demand for power quality equipment reflects the ongoing efforts to harmonize the power supply in the face of expanding renewable energy infrastructure.
The regional nations are emphasizing more on the integration of renewable energy sources as well as grid modernization, both of which, while beneficial for the preservation of electricity quality, bring new challenges to the preservation of sustainability. An increasing number of people are becoming aware of the relevance of power quality in both the residential and commercial sectors. This is primarily due to the development of sensitive electronic gadgets and the requirement for an uninterrupted power supply. One critical factor is the increasing prevalence of home automation and smart home technologies, which necessitate a consistent and dependable power supply to operate efficiently.
Free Valuable Insights: The Power Quality Equipment Market is Predict to reach 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 U.S., Mexico, Canada, and Rest of North America.
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