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Capacitor Bank Market Trends

Report ID: GMI3767
Published Date: Jul 2024
Report Format: PDF

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Capacitor Bank Market Trends

The capacitor banks are extensively used in smart grid systems to reduce carbon emissions associated with power generation for electrical grids. These units enhance system voltages and energy efficiency in the distribution network, thereby delivering a higher percentage of energy to consumers and boosting the business outlook. The growing energy demands, along with large-scale urbanization, are significantly driving the need to integrate renewable energy sources into the overall energy mix, thereby increasing the industry potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of capacitor bank reached USD 3 billion in 2023 and is set to witness 4% CAGR between 2024 and 2032, led by large scale integration of clean energy sources and increasing peak load demand.

The high voltage segment in the capacitor bank industry will witness 3.5% CAGR through 2032, owing to the increasing demand for efficient power factor correction equipment and the expanding power infrastructure in developing nations.

Asia Pacific market is poised to cross USD 2 billion by 2032, attributed to the rising investments in the development of industrial establishments and the shifting government focus.

ABB, Aener Energía, Alpes Technologies, ARTECHE, Bharat Heavy Electricals Limited, CIRCUTOR, Eaton, Enerlux Power, and General Electric, among others.