Sag Corrector Market Trends
Growth Drivers
- Growing Need Amongst Organizations to Lower Their Downtime Costs- Given the poor quality of electricity and voltage drops results in interruption of operations, resulting in increased cost of labor, equipment repairs, etc which also results in loss of sales and revenue. On the basis of these factors, it is becoming increasingly necessary to deploy sag corrections which are capable of correcting output voltage fluctuation events in business organizations.
- Market to Grow on Back of Rising Solar Power Projects- Owing to the increasing usage of solar power worldwide to reduce the energy cost which may cause voltage fluctuations at the point of network connection and may lead to problems for sensitive electronic equipment. Voltage sag protectors can resist voltage drops at the network connecting point, guaranteeing the continued operation of delicate electronic equipment. Solar energy accounted for 4.4% of all energy consumed globally in 2021, a rise from 3.3% in 2020.
- Benefits Over Other Alternatives- UPS is not cost-effective compared to a sag correction because batteries are costly and require timely replacement and maintenance. Alternatively, demand for sag rectification is expected to increase over recent years due to the increasing voltage fluctuations.
Challenges
- Lack of Awareness Amongst End Users to Hamper the Market Growth- The lack of knowledge among end users about voltage correction devices is considered to be a major factor limiting the market's growth. A number of challenges exist among end users in choosing suitable equipment to help solve the problem as a result of a lack of appropriate expertise for identifying grid quality issues such as blackout, voltage drop, electrical noise, spikes, harmonics, and so on.
- Affected by the Covid-19 Flu
- High Costs of Sag Corrector
Sag Corrector Market: Key Insights
A voltage sag, also known as a voltage dip or voltage drop, is referred to as the phenomenon where a drop in the rms voltage, typically between 10%-90% of nominal voltage, occurs for a momentary period. The event can range from a period of 0.5 cycles to a few seconds. When the voltage sag is for a longer duration, it is then referred to as a sustained sag. A voltage sag can occur either due to natural events, such as lightning, storms, snow, heavy winds, and others, or through human-created events, such as electrical overloading. Voltage sag causes damage to the electrical equipment, and hence a multifunctional voltage instantaneous compensation (MPC) device, also known as interline unified power quality conditioner (iUPQC) device, such as voltage sag corrector or protector is used to prevent such events. Recently, with the advancements in electrical and electronics technology, a new category of product, known as dynamic sag corrector (DySC), has become readily available in the market. The basic working principle of dynamic SAG correctors is different for single phase and three phase wiring types. The topology of DySC for both these wiring types is given below: CLICK TO DOWNLOAD SAMPLE REPORT
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.6% |
|
Base Year Market Size (2024) |
USD 884.4 million |
|
Forecast Year Market Size (2037) |
USD 2.02 billion |
|
Regional Scope |
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