Sag Corrector Market Size

Sag Corrector Market size was valued at USD 829.64 Million in 2023 and is likely to reach USD 1.88 Billion by the end of 2036, expanding at around 6.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sag corrector is assessed at USD 878.17 Million. The market is flourishing owing to the growing digitization of electricity grids which raises a number of problems when it comes to providing an enhanced electrical quality. Digital technology investments connected to the grid have increased by over 50% since 2015 and are predicted to account for 19% of all grid investments in 2023.

In addition, market growth is also expected to be stimulated by a growing focus of government entities on the development of standards for electrical and electronic equipment. For instance, semiconductor equipment and materials international (SEMI) proposed the SEMI F47 voltage sag immunity standard. The tools must meet this standard's requirement for immunity to voltage sags. Because of this, producers of voltage sag correctors are progressively adhering to the standards in order to produce improved sag correctors, which is helping to fuel the growth in demand for sag correctors.