Low Voltage Capacitor Bank Market Analysis

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.