Research Nester published a report titled “Sag Corrector Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global sag corrector market in terms of market segmentation by amp rating, line voltage, wiring type, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global sag corrector market is segmented by end-user industry into retail, healthcare, commercial, industrial, IT, manufacturing, and others. Among these segments, the manufacturing segment is projected to hold the largest market share by the end of 2021 owing to the growing concern amongst the manufacturing organizations for the significant loss faced due to faulty grid power supply, along with the significant dependence of manufacturing industries on electrical energy to power the equipment deployed in the factories.
The global sag corrector market is anticipated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the numerous challenges observed in grid electricity, such as voltage sags and others, which is raising the need amongst the end-users to deploy sag correctors to avoid equipment failure. Moreover, the high cost-effectiveness of sag correctors over uninterrupted power systems (UPS), is also anticipated to contribute to the market growth in the coming years.
Regionally, the global sag corrector market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions, out of which, the market in North America is anticipated to hold a significant market share by the end of 2029. The growth of the market in the region can be attributed to the poor grid power quality observed in the nations such as the United States and Canada, and therefore the need for enhanced power quality by the end-users. Additionally, increasing awareness amongst the end-users in the region for voltage sag is also anticipated to contribute significantly to the market growth in the region.
Increasing Concern Amongst Organizations to Optimize their Operational Costs
Poor power quality often leads to voltage sag, thereby hampering businesses with unscheduled downtime and increased labor cost. Further, when the plant is operating at full capacity, any downtime caused by voltage sag significantly hampers the overall revenue, thereafter raising the value of lost sales. As a result, there is a rising need amongst the end-users to increasingly deploy voltage sag correctors so as to minimize their unscheduled downtime and maintenance costs, and further for the greater optimization of their operational costs.
However, the lack of awareness for sag correctors in many under-developed and developing nations globally is expected to operate as a key restraint to the growth of the global sag corrector market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global sag corrector market which includes company profiling of ABB (NYSE: ABB), Rockwell Automation, Inc. (NYSE: ROK), Schneider Electric (OTCMKTS: SBGSY), Eaton Corporation plc (NYSE: ETN), General Electric Company (NYSE: GE), SMC Electric (HKG: 2381), ORTEA SpA, Utility systems Technologies, OKY LTD., and Toshiba Mitsubishi-Electric Industrial Systems Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sag corrector market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.