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Low Voltage Capacitor Bank Market Trends

Report ID: GMI10179
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of low voltage capacitor bank was crossed USD 515.5 million in 2023 and is estimated to grow at 3.4% CAGR through 2032, owing to the increasing adoption of energy-efficient equipment.

The open-air substation segment in the low voltage capacitor bank market will reach over USD 500 million by 2032 led by wide scale utilization of these units across utility and industrial facilities to improve reduce losses & power quality.

Asia Pacific low voltage capacitor bank market is set to exceed USD 350 million by 2032 owing to the rising investments in the development of industrial establishments.

ABB, Aener Energ