Automatic Power Factor Controller Market Size Will Attain USD 5.57 Billion By 2030 Growing At 3.1% CAGR
Global Automatic Power Factor Controller Market Size Was Valued at USD 4.36 Billion In 2022 And Is Projected to Reach USD 5.57 Billion By 2030, Growing at A CAGR of 3.1% From 2023 To 2030.
An automatic power factor controller project is developed to enhance the power factor automatically whenever the power factor falls below a certain level. As we know demand for electrical energy is rising day by day. More and more inductive loads are being utilized in industry and domestic applications. Inductive loads are the key factor for low power factors in the power system. Hence, they are required to design a method to enhance the power factor automatically. Furthermore, an automatic power controller project offers a solution to this problem. Low power factor incorporates a redundant burden on the power system and transmission lines.
Top Key Players in the Automatic Power Factor Controller Market:
STMicroelectronics NV (Switzerland), Eaton Corporation Plc. (Ireland), General Electric Company (US), EPCOS AG (Germany), Fairchild Semiconductor International Inc. (US), Larsen & Turbo (India), APFC panels manufacturers include ABB Ltd. (Switzerland), Crompton Greaves Ltd. (India), General Electric (U.S.), Schneider Electric (France), Texas Instruments Inc. (US), ON Semiconductor Corporation (U.S.), STMicroelectronics (Switzerland), and Other Major Players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Automatic Power Factor Controller Market:
Drivers:
Demand For Electric Power
An automatic power factor controller is a device that is programmed to automatically improve the output power when the power factor decreases under a certain level. Demand for electric power is growing constantly. In addition, the requirement to build a system for automatic improvement in the power factor is rising, as a low power factor puts lavish pressure on power grids and transmission lines. This requirement can be accomplished by using automatic power factor controllers. Demand for automatic power factor controllers is anticipated to grow at a significantly high rate shortly and the existing players are anticipated to reach a higher market share over the forecast period. Furthermore, the automatic power factor controller market is the
growing demand for power management in certain industries such as utility, manufacturing, defense, commercial, and enterprise among others.
Opportunities:
Revolutionizing Power Management
A prototype-designed GSM system can be utilized for the large rating of an automatic power factor controller system. Decreases harmonic content in the network which further reduces disturbances in the telecommunication network, misbehavior in control equipment and relay protections, and measuring errors in the metering system. Furthermore, declines in network losses and equipment overloading & stress on insulation Reduce cost, unplanned outages, and raise power accessibility, which is expected to create a lucrative opportunity for the automatic power factor controller market in the upcoming years.
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The Market Analytics Report Segments The Automatic Power Factor Controller Market As Below:
By Type
· Active Power Factor Controller
· Passive Power Factor Controller
By Component
· Relays
· Capacitors
· Resistors
· Displays
· Microcontrollers
· Switches
By Installation Type
· Self-Standing APFC Panels
· Wall-Mounted APFC Panels
By Application
· Petroleum Chemical Industry
· Food Industry
· Manufacturing
· Utility Industry
· Others
Regional Analysis of the Automatic Power Factor Controller Market:
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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