The rising power consumption for the power quality equipment is the key driving factor for the market growth

ZDDQ found according to the report: The global power quality equipment market size is projected to reach nearly USD 33.7 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 6.5% over the forecast period of 2020-2028. The key motivating force for the power efficiency equipment industry is rising power usage. In addition, the market is expected to be further driven by strict government regulations on reactive power and penalties implied on end-users coupled with energy efficiency policies in different nations around the globe.

Reactive power compensation traditional way---Low voltage capacitor bank

The report also outlines the various characteristics of the global power quality equipment industry by assessing the market from value chain analysis. Moreover, the power quality equipment market report comprises various qualitative parts of the power quality equipment industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.

Reactive power compensation new way---Low voltage Static var generator