Press release
Power Factor Correction Equipment Market Revenue Share, Insights & Future Outlook
What is Driving the Growth of the Global Power Factor Correction Equipment Market?The global Power Factor Correction Equipment market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
North American market for Power Factor Correction Equipment is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
Asia-Pacific market for Power Factor Correction Equipment is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.
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How is the Power Factor Correction Equipment Market Shaping Regional and Global Growth?
The major global manufacturers of Power Factor Correction Equipment include ABB, Schneider Electric, Siemens, Eaton, GE Grid Solutions, NISSIN ELECTRIC, Guilin Power Capacitor, Hubbell and Xian XD Power, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.
This report aims to provide a comprehensive presentation of the global market for Power Factor Correction Equipment, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Power Factor Correction Equipment.
Segment by Type
• Power Capacitor
• AC Reactor
• Active Power Filter
• Others
Segment by Application
• Commercial Utility
• Industrial Utility
• Public Power Supply
Which Companies are Leading the Power Factor Correction Equipment Market in 2024 and Beyond?
• ABB - Known for its expertise in power and automation technologies with a strong portfolio in energy efficiency solutions.
• Schneider Electric - Specializes in digital automation and energy management systems for utilities and industries.
• Siemens - Provides advanced electrical infrastructure solutions with strong capabilities in power factor correction.
• Eaton - Offers innovative power management technologies supporting industrial and commercial utilities.
• GE Grid Solutions - Delivers grid modernization solutions, including power factor correction systems.
• NISSIN ELECTRIC - Focuses on electrical equipment manufacturing, particularly in power capacitors and filters.
• Guilin Power Capacitor - Specializes in the development of high-quality capacitors for efficient energy distribution.
• Hubbell - Provides electrical and power products with applications in industrial and utility sectors.
• Xian XD Power - Recognized for its expertise in high-voltage electrical equipment and energy systems.
• Herong Electric - Develops advanced capacitor banks and correction devices for grid applications.
• Shizuki Electric - Known for reliable power capacitors supporting industrial energy optimization.
• Sieyuan Electric - Specializes in R&D and manufacturing of power transmission and distribution equipment.
• Socomec - Offers advanced power monitoring and energy efficiency equipment tailored to utilities.
• Rongxin Power Electronic - Provides cutting-edge active power filters and compensation solutions.
• Ducati Energia - Renowned for its power electronics and capacitor technologies in global markets.
• Iskra - Supplies high-performance capacitors and electronic components for power correction.
• ICAR SpA - Focused on custom capacitor solutions for industrial power factor correction needs.
• Hangzhou Yinhu Electric - Engaged in producing capacitor-based correction systems for energy savings.
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