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

Low Voltage Capacitor Bank Market was valued at USD 515.5 million in 2023 and is predicted to showcase about 3.4% CAGR between 2024 and 2032. Focusing on modernizing power networks and the increasing adoption of energy-efficient equipment will positively influence the business landscape.
 

Low voltage capacitor banks are essential components in electrical systems designed to improve power factor, enhance energy efficiency, and reduce electricity costs. By supplying reactive power locally, these systems help to minimize transmission losses and alleviate the burden on the electrical grid. They come in various configurations including fixed, automatic, and modular designs, to accommodate specific load requirements and operational conditions. Additionally, these capacitor banks contribute to the stability and reliability of the power supply, ensuring that electrical equipment operates efficiently and with fewer disturbances. Through their ability to correct power factor and optimize energy usage, these units play a crucial role in modern electrical infrastructure.
 

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 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% through 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.
 

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 company offers a comprehensive range of capacitor banks, which are crucial for improving power quality and efficiency in electrical networks. These capacitor banks are designed to manage reactive power, reduce transmission losses, and enhance voltage stability, making them essential for both industrial and utility applications. Its solutions include fixed and automatic capacitor banks, tailored to meet diverse operational needs and regulatory requirements. With a focus on innovation, reliability, and sustainability, it ensures that its capacitor banks deliver optimal performance and contribute to the seamless operation of modern power 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 recently opened a cutting-edge factory in Nashik focused on manufacturing power distribution products. Covering an expansive five acres, this advanced facility incorporates smart manufacturing capabilities that seamlessly connect people, processes, and assets to transmit real-time data. It is equipped with a web-based integrated traceability system for daily planning and review. High-end digital screens within the facility ensure transparency by showcasing critical parameters, empowering operators to optimize settings for enhanced efficiency. Furthermore, mobile applications provide convenient access for customers and service engineers to retrieve product specifications, installation support, factory test results, and other pertinent information through a quick scan of the product's QR code.
   
• In November 2022, Vishay Intertechnology has unveiled a new series of screw-terminal aluminum electrolytic capacitors designed to maximize energy storage in a compact form factor. These capacitors are offered in 11 different case sizes, ranging from 35 mm by 60 mm to 90 mm by 220 mm. Each capacitor features a cylindrical aluminum case insulated with a distinctive blue sleeve and includes pressure relief in the sealing disc for added safety. The series offers high capacitance-voltage (CV) combinations, ranging from 56,000 µF at 200 V to 15,000 µF at 450 V. This innovation allows designers to achieve significant energy storage capabilities in a smaller footprint, enhancing flexibility and efficiency in their designs.
   

This 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