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Middle East & Africa Capacitor Bank Market Trends

Report ID: GMI8792
Published Date: Apr 2024
Report Format: PDF

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Middle East & Africa Capacitor Bank Market Trends

The governments in numerous economies are prioritizing the modernization of power network infrastructure and encouraging the adoption of energy-efficient equipment, which in turn will foster the product demand. The utility companies are actively pursuing the development and improvement of new transmission and distribution infrastructures to efficiently meet the increasing demand for electricity, accelerating the industry potential.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Middle East & Africa market for capacitor bank was reached USD 590.7 million in 2023 and is estimated to grow at 3.9% CAGR through 2032, led by the increasing urbanization rate and industrialization, leading to strong demand for electricity.

Middle East & Africa low voltage capacitor bank market size will reach over 125 million by 2032, driven by higher adoption in small and medium industrial and commercial settings to minimize energy wastage and prolong the operational lifespan of electrical equipment.

Saudi Arabia capacitor bank market size is set to exceed USD 30 million by 2032, owing to the extensive investments in renewable power projects, particularly solar power, to diversify their energy mix and reduce dependence on fossil fuels.

Some of the major capacitor bank providers in the Middle East & Africa include ABB, ARTECHE, Bharat Heavy Electricals Limited, CIRCUTOR, Eaton, E-CUBE ENERGY, and General Electric.