Capacitor Banks Market Top Key Vendors: Siemens Energy, Alstom SA, BB Ltd., Toshiba | Industry Trends and Forecast To 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.

According to a recent study report published by the Market Research Future, The global market of Capacitor Banks is booming and expected to gain prominence over the forecast period. The global Capacitor Banks market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2018 – 2027).

Industry Key Players:-
• Alstom SA
• BB Ltd.
• Siemens Energy
• Toshiba
• Epcos AG

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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.

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.

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Regional Analysis of Capacitor Banks Market:-
Major scope for the Capacitor Banks lies in the Asia-Pacific region due to the heavy investment in the manufacturing and Infrastructural sector. Favorable government policies provide huge scope for market players for growth and development in this region. Due to significant development of new technology and product development in the North American region, the region is one of the leading regions for the Capacitors bank market.

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