Businesses across different industries are striving not only to reopen but also to grow. Business leaders are leveraging the rescue packages from the government to restructure themselves with digital conversions and agile organizational structures. They are taking swift actions to get ready for greater resilience and better productivity in a future where the usual business does not exist. The industry leaders are investing in future technologies to automate facilities and physical processes to comply with social distancing norms. The industrial sector is transforming towards centralized and automated non-core tasks.
The businesses are evaluating and re-aligning service capabilities and network models to adapt with the new normal. To overcome the impact of disrupted supply chain models, the businesses are creating transparent system with help of big data, connected ecosystem and intelligent system. Besides all the organizational level changes, the market players in industrial sector are increasing work safety precautions to fall in line with the social-distancing norms issued by the government.
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Power Quality Measurement devices Market: Overview
Certifying electric power quality is emerging concern for governments, utilities, and industrial energy consumers all around the world. The principal step towards saving energy and refining operational processes is the measurement of the electrical power quality. Power quality measurement devices constantly observes the key parameters of power quality to help decrease outages and equipment destruction from deprived quality of service. Power quality measurement devices helps to gain a broad overview of the power supplies and introduce the accurate measures. The power quality is also observed according to the general valid criteria. (e.g. EN50160).
Power quality problems comprises of intermittent phenomena namely voltage flicker and steady-state phenomena namely harmonic distortion. Although apparatuses have been developed that calculate a wide range of disturbances, a number of different devices may be used, depending on the phenomena being examined. Hence with the increasing usage of power quality measurement devices for calculation of power quality in many industries is expected to drive the global power quality measurement devices market in the near future.
Power Quality Measurement devices Market: Dynamics
Power quality measurement devices market is primarily driven by increased electricity use and energy-efficiency initiatives with its associated losses and other noise involved in transmission process. Power quality measurement devices market is also driven by the demand for enhancing the systems power quality performance. Many commercial and industrial customers have devices that is sensitive to power turbulences, and therefore, it is more important to recognize the quality of power being delivered.
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The low level of product awareness and resistance of users to the installation of latest technologies is a main concern for the utility of power quality measurement devices. Irrespective of the type of power quality measurement devices, gaining customer’s confidence is very important. The key reason behind such unwillingness is lack of awareness on the importance of the power quality measurement equipment among customers, which can be cited as the main reason for hampering the growth of the power quality measurement devices market.
Power Quality Measurement devices Market: Segmentation
Segmentation of power quality measurement devices market can be done on the basis of instrument type, current type, phase, display type, end user and region.
On the basis of instrument type, power quality measurement devices market can be segmented as
On the basis of current type, power quality measurement devices market can be segmented as
On the basis of phase type, power quality measurement devices market can be segmented as
On the basis of display type, power quality measurement devices market can be segmented as
On the basis of end user, power quality measurement devices market can be segmented as
Power Quality Measurement devices Market: Regional Outlook
North America is expected to dominate the power quality measuring devices market in the near future. Moreover Europe is anticipated to hold significant share of power quality measuring devices market followed by Asia Pacific at third place and is estimated to show highest growth of power quality measurement devices market in the forecasted period. This is due to presence of countries namely India and China owing to steady growth of many manufacturing and automobile industries where power quality equipment are predominantly used due to high quality power requirement. Developing countries in Asia Pacific, Latin America and Africa where intermittent power, fluctuations in input voltage supply is a common issue is poised to be the target market of power quality management devices in the forecast period
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Power Quality Measurement devices Market: Market Participants
Some of the market participants of power quality measurement devices are