Energy & Power Quality Meters Market - A Smart Way to Achieve ‘Net-zero’ Emissions

Market Players Hone in on Digitalization to Gain Competitive Advantage

  • 2019-09-18
  • REP-GB-10462
  • 60 Tables
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  • 337 pages
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 Energy and Power Quality Meters Market
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Enhanced Monitoring of Network Quality with Industrial IoT

With Internet of Things (IoT) making forays into every space, manufacturers are integrating energy & power quality meters with wireless and connected technologies for better accuracy and monitoring of power consumption. Accurate probes and embedded servers in IoT-enabled energy & quality meters enable management of power quality (PQ) and energy data over the internet or a local network. In addition, IoT-integrated devices offer various networking options – wireless, Ethernet, and others.

IIoT-driven energy & quality meters involve on-board data and event recording with a precision of 1ms to allow exact identification and avoidance of problems in real time. The operation teams access the raw and processed measurements via cloud-based applications in a bid to provide faster response to potential risks, and energy consumption. Additionally, the maintenance crew keep an eye on product reliability, and service requisites with the help of mobile-accessible logbooks.

Energy & power quality meters, coupled with IoT, deliver multitude of information, including power quality data, revenue and billing data, as well as, power and energy data, ensuring data sharing among various stakeholders in unison for increased transparency. Further, newly-launched analytic apps convert the collected information into actionable insights, allowing operation crews to mitigate power shutdowns, and equipment damage, thereby decreasing the costs of operation.

Energy & Power Quality Meters Market - Key Research Findings

energy power quality meters market snapshot
  1. The global energy & power quality meters market size in 2018 was ~US$ 2 Bn. 
  2. The energy & power quality meters market is expected to grow at a CAGR of ~7% during the forecast period of 2019-2029. 
  3. Rapid growth of industrial IoT, increasing rate of electrification, and growing demand for next generation power quality meters are factors that have been driving the sales of energy & power quality meters. 
  4. North America is a prominent region in terms of value in energy & power quality meters market and accounted for a market share of approximately 27% in 2018. However, APEJ (Asia-Pacific excluding Japan) is expected to overtake North America, during the forecast years, to become the most significant market for energy & power quality meters. 
    • APEJ and Western Europe due to strong economic growth, rising urbanization, industrialization, growing energy and power demand, and supply, will continue to be among the prominent regional markets for energy & power quality meters. 
  5. In order to offer energy & power quality meters, manufacturers are opting for mergers and acquisitions with other small and regional players in the market to meet the growing demand for energy & power quality meters in various end-use industries including energy & power, metals & mining, and commercial. 
    • In May 2018, Schneider Electric signed an agreement with Larsen and Toubro Ltd., a leading conglomerate in India to buy its electrical and automation business and combine it with Schneider Electric India’s low voltage and industrial automation product business.
    • In July 2019, Eaton acquired Innovative Switchgear Solutions, Inc., a manufacturer of medium voltage electrical equipment. In the same year, the company also acquired Souriau-Sunbank Connection Technologies business from TransDigm Group for US$920 million.

Key Factors Shaping the Energy & Power Quality Meters Market

Rising Demand for Energy Management Solutions:

Energy management sector is growing from the major changes in the global electrical power systems, in particular decarbonization, decentralization and digitalization. This growth is helping advanced power quality meter manufacturers in creating a line of next-generation power quality instruments that monitor, record and analyse critical electrical patterns to optimize energy utilization, process performance and cost. Therefore, owing to the rising demand for energy management solutions, the demand for energy & power quality meters is expected to increase rapidly.

Urbanization, Industrialization, and Increasing Rate of Electrification:

The world is witnessing rapid increase in generation, transmission, and distribution of energy. With the growth in the energy sector, the demand for electricity is increasing with a rapid pace, which is further generating a huge demand for energy & power quality meters. Moreover, rising urbanization at the global scale is also playing a crucial role in increasing the rate of electrification in residential and commercial end-use sectors and this is further propelling the growth of the energy & power quality meters market.

Rising Demand for Energy & Power Quality Meters for Refining Power Quality Monitoring:

Nowadays, electronic equipment is becoming more sensitive than ever to minor and transient variations in voltage and this further can cause insidious damage to critical IT systems and interruptions in essential enterprise processes. In order to sustain this damage, the demand for energy & power quality meters has increased over the years to provide basic data about power consumption and to monitor voltage regulations.

Growth Opportunities in the Asia Pacific region

Manufacturers of energy & power quality meters are focusing on expanding their businesses across countries in Asia-Pacific such as China, India, and Indonesia, as these countries are witnessing strong economic growth coupled with continuous industrialization, which is supporting the increasing demand for energy & power quality meters. Also, increasing urbanization and electrification in countries of this region are bolstering the demand for energy & power quality meters in the region.

energy and power quality meters market value share

Energy & Power Quality Meters Market Structure Analysis

  • The global energy & power quality meters market has a fragmented competition landscape, where majority of key players are maintaining strategic focus on acquisitions & mergers, new product innovation, and partnerships & collaborations to target a stronger global footprint.
  • The increasing scope of applications related to energy & power quality meters and a competitive market have resulted in product differentiation and expansion strategy by the manufacturers of energy & power quality meters to provide a competitive edge and strengthen their market presence specifically to the desired end-user industry market.
  • Tier-1 energy & power quality meters providers account for around 45% of the overall market. Vendors such as Schneider Electric, Siemens AG, Eaton, and ABB are among the largest and most experienced in the industry, and have a significant regional coverage across the globe.

Active Network Management (ANM) for Monitoring Disturbances in Renewable Energy Generation

Energy & power quality meters, combined with ANM, manage connected renewable energy (RE) generating sources distantly in sync on a unified dashboard. Triggered by software algorithms, ANM monitors show variable characteristics of RE production and perform time-series assessment, negotiating unstable generation by providing relevant decision signals.

Energy & power quality meters offer real-time inspection of instantaneous parameters with threshold values in order to minimize the threat of grid breakdowns. ANM delivers load balancing insights, enabling grid operators to take precautionary measures against abnormalities occurring from RE generators linking with the grid, non-linear loads, and switching capacitor banks.

ANM-triggered energy & power quality meters are straightforwardly compatible with diverse power management software platforms, including SCADA, and ADMS, utilizing industry standard communications media – serial, ethernet, landline, and wireless – and protocols – DNP3, and IEC61850. Furthermore, intelligent energy & power quality meters are a great fit for space-sensitive applications, including commercial buildings, and industrial sites, owing to compact dimensions.

APEJ Set to Overhaul North America

Although the region of North America currently holds the largest share in the global energy & power quality meters market, APEJ is envisioned to emerge as the leader over the next decade. The progress is primarily attributed to escalating demand for energy and electricity in developing countries such as China and India. Stakeholders are specifically focused in Southeast Asia, as the energy demand in the region is anticipated to propel by two-thirds by 2040 against the backdrop of rising urbanization – growing by 20%. Moreover, India ranks third in global energy consumption which is likely to triple by the next two decades, thereby potentially raising the demand for energy & power quality meters.

* This data is only a representation. Actual data may vary and will be available in report.

APEJ Set to Overhaul North America
APEJ Set to Overhaul North America
APEJ Set to Overhaul North America
APEJ Set to Overhaul North America
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  • 2029
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Complementing ‘Accuracy’ with New-Age Launches - Key Winning Imperative

Citing end-use industries contributing to low carbon future, market players, including Eaton, are launching frequency response energy & power quality meters, enabling large energy and electricity consumers to stabilize grid, and increase the adoption of renewable energy generation. High accuracy always prioritizes the list while monitoring energy and power consumption. As such, Yokogawa Electric Corporation is introducing high-precision power analyzer with seven input parameters for the development of highly efficient electric vehicles and renewable energy systems.

Manufacturers are banking on diverse digital solutions such as, sensors, for detecting performance data of energy and electricity. Furthermore, established and emerging market players are manufacturing low voltage energy & power quality meters to ensure enhanced power quality with low accident rates following technical regulations for low voltage electric equipment.

High demand for standalone

Multi circuit gains impressive momentum

 

High applicability in power quality compliance monitoring

Growing application in energy cost management

 

Industrial takes the lead

Use in critical buildings picks pace

 

How Growth will Unfold

Despite high cost and intricacy, the global energy & power quality meters market is expected to follow a healthy growth trail over the forecast timeframe on grounds of escalating consumption of energy and electricity across the globe. The arrival of Industrial 4.0 is influencing manufacturers to rely on digital technologies, including IoT, Artificial Intelligence, and others, following the norm of reduced carbon footprint. With international agencies imposing restrictions on fossil fuel consumption, renewables are set to portray major role in meeting global energy demand.

Energy & Power Quality Meters Pricing Analysis By Technology

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Energy & Power Quality Meters Market Analysis 2019-2029

A recent market study published by FMI on the energy & power quality meters market include a global industry analysis 2014-2018 & an opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of this market, growth prospects of the market are obtained with maximum precision.

Energy And Power Quality Meters Market Taxonomy

The global energy & power quality meters market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Topology

  • Standalone
    • Panel Mount
    • Din Rail Units
    • Miniaturized
  • Embedded in Controller/PLC
  • Multi Circuit
  • Portable Units 

By Application 

  • Network & Branch Circuit Monitoring
  • Power Quality Compliance Monitoring
  • Energy Cost Management
  • Others

By End-Use Industry

  • Critical Buildings
    • Data Centers
    • Water Treatment Networks
    • Airports & Railways
    • Hospitals
  • Commercial Buildings
    • Hotels
    • Government Organizations
    • Retail & Supermarkets
    • Education Campuses
  • Industrial
    • Metals & Mining
    • Energy & Power (Grids)
      • Transmission & Distribution
      • Generation/ Renewables
    • Automotive & Transportation
    • Food & Beverages
    • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Excluding Japan
  • Japan
  • Middle East & Africa

What's Included

The report initiates with the executive summary of the energy & power quality meters market, which includes a summary of the key findings and statistics of the market. It also includes the demand and supply-side trends pertaining to this market.

Readers can find the definition and a detailed taxonomy of the energy & power quality meters market in this chapter, which will help them to understand the basic information about the energy & power quality meters market. Along with this, comprehensive information pertaining to energy & power quality meters and their properties are provided in this section. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the energy & power quality meters market report.

The energy & power quality meters market report provides the key market trends that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are also provided in this section.

This section includes the factors that have emerged as a key successful factors and the strategies adopted by key market participants.

This section explains the global market value analysis and forecast for the energy & power quality meters market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical energy & power quality meters market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, the pricing analysis of the energy & power quality meters market at the regional level has been provided in this section.

This chapter explains the key macro-economic factors that are expected to influence the growth of the energy & power quality meters market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis of the energy & power quality meters market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.

Based on the topology, the energy & power quality meters market is segmented into Standalone, Embedded in Controller/PLC, Multi Circuit, and Portable Units. In this chapter, readers can find information about the key trends and developments in the energy & power quality meters market and market attractiveness analysis based on the topology.

Based on the application, the energy & power quality meters market is segmented into network & branch circuit monitoring, power quality compliance monitoring, energy cost management, and others. In this chapter, readers can find information about the developments and key trends in the energy & power quality meters market.

This chapter provides details about the energy & power quality meters market based on the end-use industry, and has been classified into critical buildings, commercial buildings, and industrial. In this chapter, readers can understand the market attractive analysis based on the end-use industry.

This chapter explains how the energy & power quality meters market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia-Pacific excluding Japan), Japan, and Middle East & Africa.

This chapter includes a detailed analysis of the growth of the North America energy & power quality meters market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, volume analysis, and the market growth based on the topology, application, end-use industry, and countries in North America.

This chapter provides the growth scenario of the energy & power quality meters market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.

Important growth prospects of the energy & power quality meters market based on its end users in several countries, such as Germany, the UK, France, Spain, Italy, NORDIC, BENELUX, and the Rest of Europe, are included in this chapter.

This chapter provides the growth scenario of the energy & power quality meters market in Eastern Europe countries such as Russia, Poland, and Rest of the Eastern Europe.

This chapter highlights the growth of the energy & power quality meters market in APEJ by focusing on China, India, ASEAN, Australia & New Zealand, and the rest of APEJ. This section also help readers understand the key factors that are responsible for the growth of the energy & power quality meters market in APEJ.

This section also help readers understand the key factors that are responsible for the growth of the energy & power quality meters market in Japan.

This chapter provides information about how the energy & power quality meters market will grow in major countries in the MEA region, such as GCC Countries, South Africa, North Africa, Turkey, and the Rest of MEA, during the forecast period of 2019-2029.

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the energy & power quality meters market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the energy & power quality meters market, along with the detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Schneider Electric, ABB, Eaton, Siemens AG, SEL, Emerson, Iskra, Rockwell Automation, Inc., Yokogawa Electric Corporation, Elspec LTD, Phoenix Contact GmbH & Co. KG, Socomec, Secure Meters Ltd., Rishabh Instruments Pvt. Ltd., Zhejiang Eastron Electronic Instruments Co., Ltd, SATEC Ltd., Circutor SA, Janitza Electronics GmbH, Light Star Co., Ltd., Ceiec Electric Technology Inc.

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the energy & power quality meters market report.

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the energy & power quality meters market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Sales Heads
  • Sales Executives
  • Technical Advisor
  • Energy & power quality meters Manufacturers 
  • Distributors
  • Industry Experts
  • End Users
  • Current Market Dynamics and Challenges
  • Market Characteristics
  • Market Performance and Growth Quadrants
  • Competition Structure and Market Structure
  • Strategic Growth Initiatives
  • Near term and long term market growth prospects
  • Market Segment Splits and Authenticity
  • Opinions on market projections and validity of assumptions

 

Secondary Research

  • Company’s white papers  
  • Annual Reports and Investor Presentations
  • Research Papers
  • Company Press Release
  • Government Websites and Publications

Primary Interview Splits

Primary Interview Splits energy and power quality meters market designations

Primary Interview Splits energy and power quality meters market stakeholders

Energy And Power Quality Meters Market Reports - Table of Contents

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