Power Quality Meter Market Analysis

Power Quality Meter Market Analysis

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Based on application, the commercial application will witness 7.6% growth rate up to 2032. These meters are becoming more user-friendly with intuitive interfaces, making it easier for operators to configure and access data. Increasing inclination toward mobile apps and web-based interfaces will further propel the business growth. The growing focus on sustainability and energy efficiency has led to the development of power quality meters that help identify areas for improvement, reducing energy waste and carbon footprints.
 

Based on product, the portable power quality meter market holds a market share of over 50% in 2022. Growing complexity of electrical systems and the increasing use of sensitive electronic equipment will foster the business outlook. This is driven by the need to ensure stable and high-quality power supply to prevent equipment damage, downtime, and operational inefficiencies. These units are used to identify areas where energy waste occurs, helping organizations optimize their energy usage and reduce costs.
 

• The North America power quality meter industry was valued at over USD 356.7 million in 2022. Increasing awareness of the importance of power quality coupled with stricter regulations and standards related to power quality will foster the industry outlook.
   
• Industries, businesses, and utilities were recognizing the detrimental effects of poor power quality on equipment, efficiency, and overall operations, stimulating the business potential. These meters play a crucial role in monitoring and managing the grid, which led to increased demand for advanced metering solutions.