Sag Corrector Market to Grow with a CAGR of 5.59% through 2028
Increasing demand for reliable and uninterrupted power
supply and growing digitization of electricity grids are likely to drive the market
in the forecast period.
According to TechSci Research report, “Sag
Corrector Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Sag Corrector Market stood
at USD 819.10 million in 2022 and is anticipated to grow with a CAGR of 5.59%
in the for and ecast period.
One significant
driver of the global Sag Corrector market is the ever-increasing reliance on
sensitive electronics across various industries and applications. In our modern
digital age, electronic devices and equipment are integral to businesses,
homes, and critical infrastructure. From manufacturing plants and data centers
to healthcare facilities and telecommunications networks, sensitive electronic
components are pervasive and essential for daily operations. Voltage sags,
which are brief drops in voltage levels, can have detrimental effects on
sensitive electronics. These sags can lead to data loss, equipment
malfunctions, and costly downtime. As organizations become more dependent on
digital technology for their operations, the need to protect sensitive
electronics from voltage sags becomes paramount. Sag correctors address this
challenge by monitoring the incoming power supply and dynamically compensating
for voltage sags in real-time. They ensure that sensitive electronics receive a
stable and uninterrupted power supply, safeguarding against disruptions and
equipment damage. This increasing reliance on sensitive electronics across
industries is a driving force behind the growing demand for sag correctors
worldwide.
The ongoing
global push for grid modernization and the integration of renewable energy
sources is another significant driver of the Sag Corrector market. As
governments and utilities strive to create more resilient, sustainable, and
efficient power grids, the need for power quality solutions like sag correctors
has intensified. The integration of renewable energy sources, such as solar and
wind power, into the grid has introduced variability and intermittency into the
power supply. These sources are highly dependent on weather conditions, leading
to fluctuations in energy production. Voltage sags can occur when renewable
energy sources ramp up or down, impacting grid stability and power quality. Sag
correctors play a pivotal role in addressing this challenge by maintaining
voltage stability during sudden fluctuations in power generation. They help
ensure a consistent and reliable power supply, making it feasible to integrate
renewable energy sources on a larger scale. Furthermore, grid modernization
initiatives often involve the deployment of advanced technologies, such as
smart grids and microgrids, which require enhanced power quality control. Sag
correctors are integral components of these modernization efforts, supporting
the efficient and reliable operation of next-generation power distribution
systems. As governments worldwide continue to invest in renewable energy
integration and grid modernization, the demand for sag correctors is expected
to rise in tandem, making them a crucial driver in the evolving landscape of
the global power quality solutions market.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on " Sag Corrector Market.”
The Global Sag Corrector Market is segmented into amp
rating, line voltage, wiring type, application and region.
Based on amp rating, The Less than 25A segment had the
largest market share in 2022 & expected to maintain it in the forecast
period. A significant portion of global electricity consumption occurs in
residential and small commercial settings. In these environments, there is a
demand for sag correctors to protect sensitive electronic equipment, such as
home computers, televisions, refrigerators, and HVAC systems, from voltage sags
and power disturbances. The relatively lower Amp Rating of "Less than
25A" is sufficient for these applications, making them the most common use
case for sag correctors. Sag correctors with lower Amp Ratings tend to be more
affordable and accessible to a broader range of consumers, including homeowners
and small business owners. This affordability encourages adoption among a
larger customer base. In contrast, higher Amp Rating sag correctors can be
significantly more expensive and are typically deployed in larger industrial or
commercial settings, limiting their prevalence in terms of the number of
installations. With the proliferation of electronic devices in homes and small
businesses, there is a growing need to protect these devices from voltage sags.
Based on wiring type, The Single Phase (L-N), segment had
the largest market share in 2022 and is projected to experience rapid growth
during the forecast period. Single-phase (L-N) wiring is the standard
configuration for residential and small commercial electrical systems in many
regions worldwide. This wiring type is well-suited for supplying power to
common household and small business appliances and equipment, making it the
most prevalent electrical connection in these settings. As a result, sag
correctors designed for single-phase (L-N) applications are in high demand to
protect the sensitive electronics found in homes and small businesses.
Residential consumers and small businesses represent a vast and diverse market
for sag correctors. Nearly every household and small business relies on
electronic devices such as computers, televisions, refrigerators, and home
entertainment systems. Voltage sags can disrupt the operation of these devices,
leading to data loss, equipment damage, and inconvenience. To safeguard their
investments and maintain uninterrupted power supply, homeowners and small
business owners often opt for single-phase (L-N) sag correctors. Single-phase
(L-N) sag correctors are typically more affordable and readily accessible to a
broader range of consumers. This affordability encourages adoption among a
larger customer base. Given that voltage sags are a common power quality issue
in residential areas, the cost-effective nature of these sag correctors makes
them an attractive solution.
Major companies operating in the Global Sag
Corrector Market are:
- ABB Ltd
- Schneider
Electric SE
- Eaton
Corporation plc
- Siemens
AG
- GE
Industrial Solutions
- Delta
Electronics Inc
- SoftSwitching
Technologies Corporation
- Shenzhen
Sinexcel
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“The Global Sag Corrector market is expected to rise
in the upcoming years and register a significant CAGR during the forecast
period.The
growth of the global sag corrector market is driven by the increasing demand
for reliable and uninterrupted power supply in various industries, such as
manufacturing, healthcare, and IT. Sag correctors are used to improve the power
quality by compensating for voltage sags, which are temporary dips in voltage
that can damage sensitive equipment. In addition, the growing digitization of
electricity grids is also driving the growth of the sag corrector market.
Digitization of grids leads to increased use of power electronic devices, which
are more susceptible to voltage sags. Sag correctors can help to protect these
devices from damage. Therefore, the market of Sag Corrector is expected to
boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Sag Corrector Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Amp Rating (Less than 25A, 26A-110A, 111A-400A,
More than 400A), By Line Voltage (Less than 220VAC, 221VAC-415VAC, More than
416VAC). By Wiring Type (Single Phase(L-L), Single Phase (L-N), Three Phase
(3-Wire), Three Phase (4-Wire)), By Application (Data Center, Robotics &
Machinery, Pharmaceuticals & Medicals), By Region, By Competition”, has evaluated
the future growth potential of Global Sag Corrector Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Sag Corrector Market.
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