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According to our (Global Info Research) latest study, the global Power Factor Correction Devices market size was valued at USD 6917.9 million in 2023 and is forecast to a readjusted size of USD 9657.1 million by 2030 with a CAGR of 4.9% during review period.
Power-factor correction increases the power factor of a load, improving efficiency for the distribution system to which it is attached. Linear loads with low power factor (such as induction motors) can be corrected with a passive network of capacitors or inductors. Non-linear loads, such as rectifiers, distort the current drawn from the system. In such cases, active or passive power factor correction may be used to counteract the distortion and raise the power factor. The devices for correction of the power factor may be at a central substation, spread out over a distribution system, or built into power-consuming equipment.
Global Power Factor Correction Devices main players are ABB, Schneider, Siemens, Eaton, etc. Global top four manufacturers hold a share nearly 40%. Asia-Pacific is the largest market, with a share above 50%.
The Global Info Research report includes an overview of the development of the Power Factor Correction Devices industry chain, the market status of Commercial Utility (Power Capacitor, AC Reactor), Industrial Utility (Power Capacitor, AC Reactor), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Power Factor Correction Devices.
Regionally, the report analyzes the Power Factor Correction Devices markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Power Factor Correction Devices market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Power Factor Correction Devices market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Power Factor Correction Devices industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the revenue generated, and market share of different by Type (e.g., Power Capacitor, AC Reactor).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Power Factor Correction Devices market.
Regional Analysis: The report involves examining the Power Factor Correction Devices market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Power Factor Correction Devices market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Power Factor Correction Devices:
Company Analysis: Report covers individual Power Factor Correction Devices players, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Power Factor Correction Devices This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Commercial Utility, Industrial Utility).
Technology Analysis: Report covers specific technologies relevant to Power Factor Correction Devices. It assesses the current state, advancements, and potential future developments in Power Factor Correction Devices areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Power Factor Correction Devices market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Power Factor Correction Devices market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Market segment by Type
- Power Capacitor
- AC Reactor
- Active Power Filter
- Others
Market segment by Application
- Commercial Utility
- Industrial Utility
- Public Power Supply
Market segment by players, this report covers
- ABB
- Schneider
- Siemens
- Eaton
- GE Grid Solutions
- NISSIN ELECTRIC
- Guilin Power Capacitor
- Hubbell
- Xian XD Power
- Herong Electric
- Shizuki Electric
- Sieyuan Electric
- Socomec
- Rongxin Power Electronic
- Ducati Energia
- Iskra
- ICAR SpA
- Hangzhou Yinhu Electric
Market segment by regions, regional analysis covers
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
- South America (Brazil, Argentina and Rest of South America)
- Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
The content of the study subjects, includes a total of 13 chapters:
Chapter 1, to describe Power Factor Correction Devices product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top players of Power Factor Correction Devices, with revenue, gross margin and global market share of Power Factor Correction Devices from 2019 to 2024.
Chapter 3, the Power Factor Correction Devices competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.
Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2019 to 2030.
Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and Power Factor Correction Devices market forecast, by regions, type and application, with consumption value, from 2025 to 2030.
Chapter 11, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 12, the key raw materials and key suppliers, and industry chain of Power Factor Correction Devices.
Chapter 13, to describe Power Factor Correction Devices research findings and conclusion.