Asia Pacific Capacitor Bank Market Analysis

Asia Pacific Capacitor Bank Market Analysis:

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Based on type, the metal enclosed substation capacitor banks industry size will observe gains at nearly 3.3% up to 2032, owing to surging refurbishment of existing electricity infrastructure and increasing peak load demand. These systems are available in multiple step configurations and can be installed in outdoor, indoor, and underground locations.
 

Based on voltage, the medium voltage capacitor banks market holds a share of over 50% in 2022. The units will gain an appreciable momentum owing to soaring electricity demand and shifting regulatory focus to reduce the line losses. The absence of efficient power networks in developing countries, coupled with a strong focus on improving and upgrading existing electrical infrastructure, has created a promising business environment.
 

Based on application, the harmonic filter application is set to surpass USD 400 million by 2032. Applicability of these units can enhance the voltage stability, provide higher power factor, and reduce the network losses at a substation. The growing demand to mitigate the total harmonic distortion in a grid network will augment the product demand.
 

• The China capacitor bank was valued at over USD 445.1 million in 2022. The industry is set to grow on account of increasing investments toward the development of industrial establishments and shifting government focus toward the implementation of electrification programs.
   
• Changing power consumption patterns across residential buildings and commercial zones in line rising integration of clean energy resources with will boost the industry growth across the region.