Press release
Global Capacitor Banks Market Business Insights |Top Key Players : Alstom SA , BB Ltd. , Siemens Energy ,Toshiba |Trends And Forecast Report 2018-2027.
Market Highlights
A Capacitor Bank is a group of several capacitors of the same rating that are connected in series or parallel with each other to store electrical energy. The resulting bank is then used correct a power factor lag or phase shift in an alternating current (AC) power supply. They can also be used in a direct current (DC) power supply to increase the ripple current capacity of the power supply. The Global Capacitor Banks Market is growing with the rapid pace; mainly due to the increase in the power consumption. According to World Bank, in 2014, the consumption of electricity was 3,144.4 kWh per capita as compared to 2,956.6 in 2010.
Currently, the Capacitor Banks market is spurting mainly due to the growing attention and substantial investment in renewable power energy generation. The tremendous yearly addition (in capacity) of renewable energy requires the strong transmission and distribution network, which ultimately increases the demand of capacitor banks. Additionally, many countries around the world are expanding and upgrading their electric grid infrastructure, so as to fulfil the growing demand of power and margining of grid to form inter grid connection. These developments are expected to provide vital boost for capacitor banks market. However, high initial investment and fluctuation in raw material prices are the major factor that may hamper the growth of the market.
Key Players
Some of the key players in the Capacitor Banks market are Alstom SA (France), BB Ltd. (Switzerland), Siemens Energy (Germany),Toshiba (Japan), Epcos AG (Germany) and others.
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Industry News
CIRCUTOR has launched a new range of static capacitor banks, EMS-C, EMK, OPTIM FRE (with detuned filters), with a new compensation system with thyristor operation that is suitable for industrial applications and also the services sector, due to its quick load input and output rate.
ABB, the leading power and automation technology group, has launched the new generation of APCQ capacitor banks, which help reduce utility penalties for low power factor, optimize energy consumption, increase power availability and ultimately help improve overall business performance.
ABB is extending its prominent Relion 615 protection and control series with REV615 - a dedicated capacitor bank protection and control relay. REV615 is perfectly aligned for protection, control, measurement and supervision of capacitor banks used for compensation of reactive power, in both utility and industrial power distribution systems.
Regional Analysis :
Asia Pacific region dominates the global capacitor banks market mainly due to increasing demand for energy because of the growing population and improvement in the lifestyle in the region. China, India, japan and Indonesia are the major market in Asia Pacific region. China accounted for the largest share in Asia pacific region mainly due to strong economic growth along with high investment in transmission & distribution network. According to IEA World Energy Investment Outlook, China is investing around USD 83 billion on their transmission & distribution network. In India, the rising participation of the private sector in power generation, transmission and distribution sectors, is leading to the rapid development of robust and healthy domestic electrical equipment (EE) industry.
Segmentation:
On the basis of technology, the market has been segmented as Line Commutated Converter (LCC), and Voltage Source Converter (VSC).
Based on End User, the market has been segmented into Commercial, Residential, and Industrial.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
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