Shunt Capacitor Market Size, Analysis and Forecast 2023-2029

The global shunt capacitor market size was valued at USD 1,372.9 million in 2022 and is poised to grow at a significant CAGR of 3.5% during the forecast period 2023-29. The primary factors that drive the market are the growing per capita consumption of electricity, rising the use of maximum electrical appliances, and the increasing demand for more electricity around the world.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/shunt-capacitor-market

The shunt capacitor market is segmented based on, voltage type, system, distribution channel, and region.

Based on the voltage type, the market is segmented into the following:
• Low voltage
• Medium voltage
• High Voltage

Based on the system the market is segmented into the following:
• Floor Mounted,
• Pole Mounted
• Wall- Mounted
• Others

Based on the distribution channel, the market is segmented into the following:
• Retail stores
• Government Electricity Board
• E-commerce

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Pole Mounted Shunt Capacitor to Dominate the Shunt Capacitor market:
Based on type, Pole Mounted Shunt Capacitor holds the highest market share. The major factor for the rise of this segment is the increase in electricity consumption across the world, different types of shunt capacitors are used according to the use. For most electrical supplies, Pole Mounted Shunt Capacitor is a real solution for a user to install this capacitor in any area. These factors can drive the Shunt Capacitor market growth.

Asia Pacific Shunt Capacitor market:
Asia Pacific region is expected to grow significantly in the Shunt Capacitor market over the forecast period. The Shunt Capacitor market in the Asia Pacific is likely to hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. China is by far the largest electricity-generating country in the world, with over 8.5 petawatt-hours generated in 2021. It was followed by the United States, with an electricity production of some 4.4 petawatt-hours that year. Asia Pacific held the major market share in 2022 and is expected to dominate the Shunt Capacitor market in the forecasted years.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
The Shunt Capacitor market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

In June 2021, Diesel & motor engineering Plc and Siemens India secured Ceylon electricity board contract for variable shunt reactors.

Request sample report at https://precisionbusinessinsights.com/request-sample/?product_id=478896

Key players' profiles in the Shunt Capacitor Market report are General Electrical Company, ABB Ltd., Siemens AG, Larsen & Toubro Ltd., Eaton Corporation, Magnewin Energy Pvt. Ltd., Globe capacitors, Motif electrics Ltd., TDK Electronics AG, and Others

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.