Power Quality Instruments Market to Reach $59.4 Billion by 2031
Takeaways
- The global market for power quality instruments (PQI) is projected to grow from $39.5 billion in 2024 to $59.4 billion by 2031, with a compound annual growth rate (CAGR) of 6%
- Stricter regulatory standards worldwide are encouraging industries to implement advanced power quality monitoring tools.
- North America remains the largest market, supported by regulatory policies, while Asia-Pacific is the fastest-growing region due to rapid industrialization.
The global market for power quality instruments (PQI) is projected to grow from $39.5 billion in 2024 to $59.4 billion by 2031, with a compound annual growth rate (CAGR) of 6%, according to research published by Persistence Market Research.
Power quality instruments are used to measure and analyze electrical issues such as voltage sags, harmonic distortions, frequency variations and other disturbances in power systems. Their use is becoming more widespread across industrial, commercial and utility sectors.
Key Drivers:
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Renewable energy integration: As more solar and wind power sources feed into the grid, fluctuations and instabilities increase. PQIs help monitor and mitigate these effects.
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Industrial automation and digitization: With growing adoption of smart factories, data centers and digital infrastructure, stable power is critical to avoid equipment failure and operational downtime.
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Regulatory standards: Stricter power quality and efficiency standards are pushing companies to adopt sophisticated monitoring tools.
Regional Outlook:
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North America remains the largest market, supported by regulatory mandates and investment in utility infrastructure.
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Asia-Pacific is expected to see the fastest growth, due to rapid industrialization, expanding commercial infrastructure and increasing renewable energy capacity.
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