Home > Energy & Power > Electrical Equipment > Electric Capacitors > Medium Voltage Electric Capacitor Market
Medium Voltage Electric Capacitor Market Size
- Report ID: GMI11127
- Published Date: Aug 2024
- Report Format: PDF
Medium Voltage Electric Capacitor Market Size
Medium Voltage Electric Capacitor Market was valued at USD 7.1 billion in 2023 and is set to grow at a CAGR of 7% from 2024 to 2032. Increasing demand for power quality improvement along with expansion of electrical infrastructure is fuelling the product demand across the globe. Medium voltage electric capacitors are essential in enhancing power factor correction and voltage regulation, reducing losses, and mitigating voltage drops. This demand is driven by the need to improve the efficiency and reliability of electrical systems, especially in sectors such as manufacturing, data centres, and utilities, which require stable and high-quality power for optimal performance.
The surge in consumer electronics demand, combined with the rapid growth of the automotive sector and the rise in electric vehicle (EV) adoption, is enhancing the market landscape. For instance, in June 2024, the National Renewable Energy Laboratory (NREL) introduced the EVI-X Modeling Suite of EV Charging Infrastructure Analysis Tools. This comprehensive suite is designed to support the deployment of efficient and cost-effective EV charging infrastructure. Its goal is to accelerate electric vehicle adoption by addressing and overcoming potential barriers to the development of EV charging networks.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Medium Voltage Electric Capacitor Market Size in 2023: | USD 7.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7% |
| 2032 Value Projection: | USD 12.6 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 90 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Material, Polarization, End use, & Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Medium Voltage Electric Capacitor Market Scope
