Power Quality Equipment Market to Garner US$ 45,131.9 Million, Globally, by 2028 at 6.8% CAGR: The Insight Partners [MarketWatch]
Emerson Electric Company (EMR)
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Source: MarketWatch
Dec 06, 2021 (AB Digital via COMTEX) -- The Power Quality Equipment Market is projected to reach US$ 45,531.9 million by 2028 from US$ 28,499.6 million in 2021; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. In the wake of global warming, due to surge in carbon pollution due to burning of fossil fuels, coal, and natural gas, the demand for renewable energy sources is increasing gradually. The growing focus on renewable energy projects is anticipated to boost the demand for power quality equipment to measure the quality of the power generated in distribution substations. The growing preference for renewable energy over the conventional energy sources can be attributed to factors such as zero or low carbon emissions, reduced air and water pollution levels, and economical electricity production. Strategic Insights Market Size Value by US$ 45,131.9 Million by 2028 Growth rate CAGR of 6.8% from 2021-2028 Forecast Period Base Year No. of Pages No. Tables N
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