Global Power Factor Correction Devices Market Growth (Status and Outlook) 2023-2029

Global Power Factor Correction Devices Market Growth (Status and Outlook) 2023-2029

Power-factor correction increases the power factor of a load, improving efficiency for the distribution system to which it is attached. Linear loads with low power factor (such as induction motors) can be corrected with a passive network of capacitors or inductors. Non-linear loads, such as rectifiers, distort the current drawn from the system. In such cases, active or passive power factor correction may be used to counteract the distortion and raise the power factor. The devices for correction of the power factor may be at a central substation, spread out over a distribution system, or built into power-consuming equipment.

LPI (LP Information)' newest research report, the “Power Factor Correction Devices Industry Forecast” looks at past sales and reviews total world Power Factor Correction Devices sales in 2022, providing a comprehensive analysis by region and market sector of projected Power Factor Correction Devices sales for 2023 through 2029. With Power Factor Correction Devices sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Power Factor Correction Devices industry.

This Insight Report provides a comprehensive analysis of the global Power Factor Correction Devices landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Power Factor Correction Devices portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Power Factor Correction Devices market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Power Factor Correction Devices and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Power Factor Correction Devices.

The global Power Factor Correction Devices market size is projected to grow from US$ 6577.1 million in 2022 to US$ 9435.4 million in 2029; it is expected to grow at a CAGR of 5.3% from 2023 to 2029.

Global Power Factor Correction Devices main players are ABB, Schneider, Siemens, Eaton, etc. Global top four manufacturers hold a share nearly 40%. Asia-Pacific is the largest market, with a share above 50%.

This report presents a comprehensive overview, market shares, and growth opportunities of Power Factor Correction Devices market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Power Capacitor
AC Reactor
Active Power Filter
Others

Segmentation by application
Commercial Utility
Industrial Utility
Public Power Supply

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ABB
Schneider
Siemens
Eaton
GE Grid Solutions
NISSIN ELECTRIC
Guilin Power Capacitor
Hubbell
Xian XD Power
Herong Electric
Shizuki Electric
Sieyuan Electric
Socomec
Rongxin Power Electronic
Ducati Energia
Iskra
ICAR SpA
Hangzhou Yinhu Electric

Please note: The report will take approximately 2 business days to prepare and deliver.