Sag Corrector Market size is predicted to surpass USD 1.70 Billion by the end of 2035, growing at a CAGR of 6.5% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of sag corrector was around USD 779 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 6.5% |
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Base Year Market Size (2022) |
~ USD 779 Million |
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Forecast Year Market Size (2035) |
~ USD 1.70 Billion |
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Regional Scope |
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End-User Industry (Retail, Healthcare, Manufacturing)
The manufacturing segment in the sag corrector market is expected to hold a 30% revenue share during the forecasted period. The fact that the manufacturing sector is increasingly reliant on energy from electricity to power equipment deployed at its production facilities, as well as increased concern about air quality problems which have a serious impact on industrial productivity, has contributed to growth in this segment. According to MECS 2018, the combined energy use by six energy-intensive manufacturing subsectors—chemicals, petroleum, and coal products, paper, primary metals, food, and non-metallic minerals products—equalled 16.9 quadrillions Btu, or 87% of total manufacturing energy consumption.
Application (Data Center, Robotics & Machinery, Pharmaceuticals & Medicals)
Sag corrector market from the robotics & machinery segment is anticipated to grow at a significant rate during the projected year and has a 40% market share. The robotic system is connected via a power line to the electric grid, which allows them to be exposed to general electrical disturbances such as voltage drops. 88% of businesses want to spend money integrating industrial robotics into their operations. Around 3 million industrial robots are in operation worldwide. Every year, some 400,000 new robots are introduced to the market.
Our in-depth analysis of the global market includes the following segments:
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Amp Rating |
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Line Voltage |
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Wiring Type |
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Application |
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End-User Industry |
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North American Market Forecast
The North America region is anticipated to hold 30% share of the global sag corrector market by the end of 2035, owing to the growing need for enhanced power quality among the end-users. The most common types of power quality disturbances in the country are voltage fluctuations. In the United States, due to these interruptions, millions of dollars are lost annually in productivity. In the United States, a third of the demand for voltage stabilizers is generated by data centers and other electrical sectors themselves, making them major end-use industries in the US market in this sector. The United States has more than 2 700 data centers, accounting for around 38% of all global data centers. The country is the largest producer of silicon, accounting for more than 20 % of worldwide sales. Furthermore, new opportunities for market players in the country are expected to emerge as more and more applications of voltage sag protectors in different forms such as step-down voltage regulator become widely used in different sectors such as business, retail, or health care.
APAC Market Statistics
The Asia Pacific sag corrector market is expected to have a 25% of the revenue share during the forecast period. This region is projected to grow with a significant CAGR during the forecast period, owing to the growing industrialization in the region and the poor electricity quality in several nations. For India's power companies, which have traditionally concentrated on filling demand shortfall and ensuring 24-hour supply to all customer segments, the issue of quality of electricity is not one that has ever been a priority.
Author Credits: Payel Roy, Dhruv Bhatia
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