From GlobeNewswire:

The power quality meter market is expected to grow to USD 3.7 billion by 2032, as industries strive to optimize energy consumption and reduce waste and carbon emissions. Residential electricity use in 2021 emitted 578.3 Mt CO2e, with 91% coming from the US. Power quality meters help save energy by providing real-time data on electrical parameters and are crucial for monitoring quality in power grids and industrial applications. Industries rely on these meters to prevent costly downtime and maintain productivity. Therefore, the market is expected to experience substantial growth as industries become more digitally driven, more automated, and more focused on sustainability. This growth will be seen particularly in industries such as manufacturing facilities, process industries, and critical infrastructure. Panel-mounted power quality meters are expanding too, expected to record a strong CAGR from 2024 to 2032 due to their seamless integration with control systems. Europe is at the forefront of this growth, with the expansion of the power quality meter market through 2032. The area’s commitment to renewable energy integration has accelerated the adoption of advanced power quality meters, with stringent regulations emphasizing power quality standards. Across the globe, key players in the global power quality meter market are stepping up their game, offering specialized products and features to capitalize on the growing market. With all these factors in play, it is no surprise that the power quality meter market is expected to expand significantly in the coming years.



Read more: Power Quality Meter Market to surpass $3.7 Bn by 2032, Says