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Asia Pacific Capacitor Bank Market Trends

Report ID: GMI6973
Published Date: Oct 2023
Report Format: PDF

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Asia Pacific Capacitor Bank Market Trends

Increasing energy requirements coupled with large-scale urbanization are considerably driving demand for the integration of renewable energy sources in the total energy mix, augmenting the business outlook. Additionally, growing initiatives to shift the dependency from conventional to unconventional clean energy systems will proliferate the capacitor bank market. Rapid economic growth has led to an upsurge in the energy demand coupled with integration of smart networking technologies will propel the industry landscape.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of APAC capacitor bank size in 2022 was wroth USD 1.5 billion in 2022 and is estimated to surpass USD 2.1 billion by 2032, owing to the increasing population along with rapid industrialization that has boosted the electricity consumption pattern.

The harmonic filter application is set to surpass USD 400 million by 2032 as applicability of capacitor units can enhance the voltage stability, provide higher power factor, and reduce the network losses at a substation.

China capacitor bank was valued at over USD 445.1 million in 2022 and is set to grow on account of increasing investments for development of industrial establishments and shifting government focus toward the implementation of electrification programs.

ABB, Schneider Electric, Eaton, Siemens, Hitachi, Legrand, Arteche, Unistar, Lifasa, Genteq, and others.