The Power capacitor market sales as a whole are anticipated to expand at a CAGR of 2% to 4% over the projection period, reaching a value of about US$ 2.3 Bn by 2032. However, the market is expected to generate US$1.71 billion in sales in 2022.
Power capacitors offer good frequency characteristics and temperature stability because of these multilayer dielectrics. There are additional power capacitors with single-layer dielectrics on the market. A transmission line’s overall power factor can be raised by adding power capacitors, which also has a favorable impact on the power factor of any industry.
In an electric field, power capacitors are employed to temporarily conserve electrical energy. Due to the widespread usage of induction motors in end-user businesses, nearby distribution lines have a poor power factor. This behavior results in significant KVAR loss and energy waste. Capacitors are therefore linked in order to increase the power factor of line power, which also increases the power factor of the nearby industry.
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With the help of power capacitors, one can achieve high power and energy efficiency in electric rail traction. As per their wide range, power capacitors are used for different applications such as wind power systems, and industrial drives, and also for supplying uninterruptable power to lasers for medical engineering.
Global Power Capacitors Market: Dynamics :
Due to increasing urbanization, the use of electric pumps or induction motors for irrigation and industrial purposes is increasing day by day, which, in turn, is increasing the demand for power capacitors. The governments of many countries have implemented laws and regulations regarding energy conservation, which is increasing the demand for power capacitors in the market. Thus, these government policies are expected to significantly drive the growth of the power capacitors market over the projected period.
Features of power capacitors such as high reliability, voltage stabilization, and cost-effectiveness are some of the major factors that are expected to propel the growth of the power capacitors market during the forecast period. Efficient operation of power capacitors helps in reducing losses in long-distance high DC voltage transmission and reduction of CO2, contributing towards the growth of the power capacitors market.
Furthermore, power capacitors are easy to integrate into overall systems, which is anticipated to further drive the growth of the power capacitors market over the projected period. Moreover, the increasing demand of power capacitors for usage as voltage and frequency converters and RFI filters is also fueling the growth of the power capacitors market.
Global Power Capacitors Market: Segmentation :
The global power capacitors market can be segmented on the basis of voltage, end user, and region. Power capacitors market by voltage: Low Voltage Power Capacitors, Medium Voltage Power Capacitors, High Voltage Power Capacitors; Power capacitors market by end-user: Utilities, Industries, Others.
Global Power Capacitors Market: Competition Landscape: Key Vendors :
Some of the key vendors in the power capacitors market are Schneider Electric, Eaton Corporation Plc, ABB Ltd., Larsen & Toubro Ltd, Aerovox Corp., GE Grid Solutions, Nissin Electric, AB Power System, GE Digital Energy, and Clariant Power System.
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Key Segments Profiled in the Power Capacitors Market
Voltage:
- Low Voltage
- Medium Voltage
- High Voltage
End User:
- Utilities
- Industries
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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