Low Voltage Capacitor Bank Market Size - By Type (Open Air Substation, Metal Enclosed Substation, Pole Mounted), By Application, By Regional Outlook & Forecast, 2024 – 2032

Low Voltage Capacitor Bank Market Size

The global low voltage capacitor bank market size in 2023 was valued at USD 515.5 million and is estimated to grow at a rate of 3.4% by 2032. The capital markets of enterprises together with energy efficient appliances are expected to be positively affected due to the modernization of power networks. For instance, more than 20 % of the total electricity consumed in the US is generated through renewable energy sources.
 

Low voltage capacitor banks are also integrally incorporated within electric circuits constructed for the purpose of correcting power factor, improving efficiency of the system, and economizing on cost of electricity. By providing local reactive power, these systems reduce transmission losses and assist in relieving the electric service. They may be supplied in various forms; fixed, automatic, and modular types for specific load requirements and operational conditions. In addition, these banks are also able to improve the stability and reliability of electric supply and result in more efficient operation of electrical equipment with fewer disturbances. Furthermore, these devices help to improv e power factor and improve energy efficiency, making them indispensable in contemporary electricity networks.
 

Low Voltage Capacitor Bank Market Trends

The rising population combined with rapid industrialization has significantly increased electricity consumption thereby enhancing business opportunities. The policymakers are expanding connections in areas without electricity access and a growing industrial sector will enhance the expansion of T&D networks shaping the industry landscape. Collaborating with private and public partners, policymakers are focused on strengthening and transforming the energy infrastructure to provide secure and reliable energy resources which will in turn drive product penetration.
 

Low Voltage Capacitor Bank Market Analysis

The open air substation low voltage capacitor bank industry will reach over USD 500 million by 2032. Wide scale utilization of these units across utility and industrial facilities to improve reduce losses & power quality will positively sway the business growth. Increasing investments toward the development of  T&D lines coupled with development of smart energy infrastructure will foster the industry growth. Additionally, the growing demand of open air substations across the renewable sector will augment the business outlook.
 

The power factor correction low voltage capacitor bank market size will witness growth rate of over 3% by 2032. The implementation of a power factor correction system provides numerous advantages comprising of enhanced system capacity, lower electricity costs, decreased power losses, and improved grid voltage. In addition, these banks enhance the power carrying capacity which stimulates its adoption across the substations.
 

The Asia Pacific low voltage capacitor bank market is set to exceed USD 350 million by 2032. Rising investments in the development of industrial establishments coupled with growing government focus on electrification programs will positively influence industry potential. Shifts in power consumption patterns across residential buildings and commercial zones along with the increasing integration of clean energy resources will further drive industry growth.
 

The U.S. capacitor bank market is set to witness a significant growth owing to the increasing demand for replacement and retrofitting of existing supply network. Ongoing technological advancements along with emphasis on minimizing the energy losses in a system will further augment the industry growth. The large scale integration of renewable systems to reduce the dependency on conventional units along with increasing refurbishment activities will escalate the business outlook.
 

Low Voltage Capacitor Bank Market Share

Hitachi Energy is one of the leaders in energy solutions, renowned for its advanced technology and expertise in power systems and automation. The enterprise provides a wide assortment of capacitor banks, which are essential for the enhancement of power quality and efficiency within electrical networks. These banks act as an active management for reactive power and reduce transmission losses as well as stabilize voltages for industrial as well as utility purposes. Their solutions comprise of both fixed and automatic capacitor banks for different kinds of operational requirements and regulations. Striving for reliability and sustainability this company is committed to ensuring that each of its capacitive bank optimally functions to guarantee a smooth operation within contemporary energy systems.
 

Low Voltage Capacitor Bank Market Companies

The key industry players include:

• ABB
• Aener Energía
• Alpes Technologies
• ARTECHE
• Bharat Heavy Electricals Limited
• CIRCUTOR
• Eaton
• Enerlux Power
• General Electric
• Hitachi Energy
• Larsen & Toubro
• Powerside
• Schneider Electric
• Siemens
• The Legrand Group
• ZEZ SILKO
   

Low Voltage Capacitor Bank Industry News

• In February 2023, ABB has inaugurated a new state-of-the-art factory in Nashik which specializes in the manufacture of power distribution equipment. This facility occupies an immense area of five acres and is equipped with smart manufacturing technologies that integrate humans, processes , and assets in such a manner as to be able to provide real time information. The factory also has a web-based integrated production traceability system integrated for daily planning and oversight. Users can interact with unit control through advanced digital screens that enhance transparency by displaying important parameters and point out to operators the best settings for improved efficiency. In addition, customers and service technicians can use mobile applications to scan a product's QR code to get specifications, installation guidance, factory testing results, and other valuable information.
   
• In November 2022, Vishay Intertechnology has developed a novel series of screw-terminal electrolytic aluminum capacitors that increase energy storage within a smaller space. These capacitors are available in 11 case sizes which includes models measuring 35mm x 60mm up to 90mm x 220mm. Each capacitor includes cylindrical aluminum housing which is fitted with blue insulating sleeves along with pressure venting in the seal disc as a precaution. The series is consisting of very high CV ranging from 56,000uF x 200V to 15,000uF x 450V. Thanks to this innovation, designers are able to achieve great storage density in increasingly smaller designs which ultimately increases efficiency and design flexibility.
   

The low voltage capacitor bank market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Type

• Open air substation
• Metal enclosed substation
• Pole mounted
• Others

Market, By Application

• Power factor correction
• Harmonic filter
•  Voltage regulation
• Renewable integration
• Industrial application
• Data centers
• Others

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
  • Netherlands
  • Russia
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • New Zealand
  • Malaysia
  • Thailand
  • Singapore
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
• Latin America
  • Brazil
  • Chile
  • Argentina