Global Automatic Power Factor Controller Market - 2022-2029

Global Automatic Power Factor Controller Market - 2022-2029

Market Overview

Automatic power factor controller market reached US$ XX million in 2021 and is estimated to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 4.46% during the forecast period (2022-2029).

The power factor, which is the outcome of the ratio of real and perceived power, is monitored by an automatic power factor controller. The automatic power factor controller improves the power factor when it falls below a predetermined level in electrical systems. The activity is carried out automatically, without the need for human involvement. Furthermore, Electrical loads like motors can make electrical systems very inductive, resulting in a low 'lagging power factor,' or energy waste. Connecting or disconnecting the power factor correction capacitors is a simple way to keep the power factor in the required range.

For rapidly variable loads, manual switching is impractical; hence an automatic control system is necessary that continuously checks the power factor and makes appropriate modifications to keep it within the required range.

Market Dynamics

The growing demand for power management in various industries has escalated the growth opportunities for the automatic power factors market.

Growing demand for power management in various industries has escalated the growth opportunities for the automatic power factors market

In an electrical network with many loads and sources, a power management system is used to monitor and balance the generation and consumption of electricity. Blackouts and operational disruptions are avoided using a power management system. It also aids in reducing energy expenses and protecting the environment.

Every industry relies on power and power management. Over the last few decades, industries' reliance on power has grown considerably. Furthermore, rising energy prices increase environmental concerns and stricter laws drive corporations to seek better power management solutions.

Furthermore, governments and businesses worldwide are investing in the construction of grids in remote locations. The demand for power management systems is expected to rise due to this. As a result, the power management system demand is expected to grow throughout the forecast period due to rising electricity consumption, thus leading to create huge opportunities for advanced technologies such as power factor controllers to control the energy losses.

The growing demand for power management in manufacturing, defense, commercial, utility and business is one of the primary drivers of the automatic power factor controller market. In computer peripherals and graphics processing units (GPUs), power management is used to lower power supplies, resulting in a more efficient power supply for these devices. When APFC is installed in these businesses, it reduces the energy used and, as a result, lowers electricity prices.

Furthermore, reactive power factor is required in most utility businesses, such as power plants and transformers and power loss minimization is one of the most important needs. Power loss minimization prevents electrical equipment from being damaged and APFC is projected to see increased demand in the forecast period.

Short service life and high installation of automatic power factor controller have hampered the market growth for the product

Automatic power factor controllers' popularity has increased in past decades. The primary reason for market growth is the wide application spectrum for the product. However, many industries are still in the initial phase, so they are not investing majorly in automatic power factor controllers due to their associated costs.

Besides the high installation cost, the short service life of automatic power factor controllers adds to the challenges list. Also, it has been seen that automatic power factor controllers using capacitors can get easily damaged if the voltage exceeds a rated value.

Furthermore, once the capacitor is damaged, the repair is uneconomical; therefore, end-user is shifting towards better and more economical substitutes, which has shown severe challenges for the growth of the automatic power factor controller market.

COVID-19 Impact Analysis

Due to the COVID-19 pandemic, the automatic power factor controller market grew slowly in value and volume in 2020 compared to 2019. In 2020, the supply chain disruption and a reduction in end-use industries due to the pandemic disrupted the automatic power factor controller market.

For instance, The COVID-19 pandemic has directly influenced the electric power industry, with significant losses in electricity output. These losses have also harmed communication and personnel performance, causing the electric power system unstable. Thus, the slowdown in the power sector has reduced the demand for automatic power factor controllers during the pandemic. However, the improving vaccination drive across the globe has shown positive growth opportunities for all the sectors and, therefore, is expected to create a growth trend in the forecast period.

Segment Analysis

The global automatic power factor controller market is segmented on type, component, installation, end-user and region.

The growing adoption of active automatic power factor controllers by many industries such as commercial, manufacturing, military, utility and others has contributed to the expansion of this segment.

The global automatic power factor controller market is segmented into active APFCs and passive APFCs based on type. Out of the mentioned types, active APFCs have shown dominance in 2020 and are expected to maintain growth in the forecast period.

An active PFC system comprises a switching regulator with a high switching frequency that may provide a potential power factor of above 95%. Active Power Factor Correction automatically corrects for AC input voltage and can handle various input voltages.

However, one disadvantage of active APFC is the greater cost incurred due to the increased complexity necessary to deploy it. Furthermore, the adoption of active automatic power factor controllers by many industries such as commercial, manufacturing, military, utility and others has expanded this segment. Furthermore, active components, including diodes and transistors, are used in the active automatic power factor controller, allowing engineers to achieve a high power factor of 0.99. As a result of the high precision of power superiority, most industries use active automatic power factor controllers.

On the other side, the passive APFC power supply comprises passive components with a PF value of around 70% to 80%. The size of APFC components becomes larger as the voltage of the power source increases. In order to switch by manual operation, the input power voltage is required. Furthermore, a low pass filter filters the distortion's high harmonic wave to boost the power factor, leaving only the 60 Hz (or 50 Hz) basic wave. The current wave can only be reduced within the standard using a passive PFC power supply and the power factor cannot be rectified to 1.

The passive APFC design offers various advantages: simple structure, easy design, low cost and only requires a filter to correct, creating market growth opportunities for the segment. However, it also has the following disadvantages: large filter dimension, heavy and low efficiency due to thermal and voltage drop while current passes through the filter, which acts as a major hurdle for the market growth for the segment.

Geographical Analysis

Asia-Pacific is expected to grow at the fastest rate in the global automatic power factor controller market due to rising industrialization, urbanization and infrastructural improvement are all elements contributing to the region's rapid growth

The global market is divided into regions: North America, Europe, Asia Pacific, South America and Middle East & Africa. In 2022, the North American area is expected to control the worldwide market. The presence of top players in North America's automatic power factor controller market accounts for most of the region's share.

However, on the other hand, the Asia-Pacific area is expected to be the fastest-growing market. Rising industrialization, urbanization and infrastructural improvement contribute to the Asia-Pacific region's rapid growth. India, South Korea, China and Japan are part of the Asia Pacific.

In addition, the Asia-Pacific market is being held back by high initial investment and installation costs for industries. Growing power management systems in the region due to rising power losses adds value to the adoption and, therefore, the growth of the automatic power factor controller market.

Competitive Landscape

The global automatic power factor controller market is highly competitive with local and global key players. Some key players contributing to the market's growth are ABB Ltd., Crompton Greaves Ltd., Fairchild Semiconductor International, Inc., EPCOS AG, Eaton Corporation, General Electric Company, Larsen & Toubro Limited, On Semiconductor Corporation, Schneider Electric Sa, Texas Instruments Inc. and others.

The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the automatic power factor controller market.

For instance, In 2021, Power Integrations announced that its HiperPFS-4 power factor correction (PFC) controller IC now includes an integrated Qspeed low reverse recovery charge (Qrr) boost diode. Between 75 W and 400 W, this combination achieves higher than 98 percent full-load efficiency in PC, TV and similar applications.

Schneider [PM1] Electric SA

Overview: Schneider Electric SA is a European multinational company providing energy and digital automation solutions for efficiency and sustainability. It addresses homes, buildings, data centers, infrastructure and industries by combining energy technologies, real-time automation, software and services. The company operates as a public entity and generated sales of US$ 30,509 million during the fiscal year ending December 31st, 2019.

With a successful energy-as-a-service project, Schneider Electric offers a model that could bring microgrid benefits to many other communities nationwide.

Product Portfolio: PowerLogic AccuSine PFV+: PowerLogic AccuSine PFV+ improves power quality by removing leading and trailing power factors and reducing voltage fluctuations. Its one-of-a-kind design extends the life of equipment and increases system power performance and it includes a variety of functions in one convenient package. AccuSine PFV+ provides worry-free power factor correction with no chance of resonance.

Key Development

In 2022, The Schneider Electric PowerLogic PFC (formerly VarSet) low voltage power factor correction solution adds a new component to the EcoStruxure Power architecture by enhancing its best-in-class low voltage capacitor bank with robust IoT-enabled communication capabilities. These new proficiencies provide opportunities for today’s power systems and energy management applications.

Why Purchase the Report?
• Visualize the global automatic power factor controller market segmentation by type, component, installation, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the automatic power factor controller market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global automatic power factor controller market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global automatic power factor controller market report would provide approximately 70 market data tables, 66 figures and 211 pages.

Target Audience 2022
• Service Providers/ Buyers
• Electronic Companies
• Research Laboratory
• Manufacturers
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