Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Capacitor Bank Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Capacitor Bank Market is set to experience significant growth, driven by increasing investments in the energy sector, especially in developing countries, to meet the demands of growing economies. Additionally, the development of more electronic products and electrification projects are contributing to the market's expansion.
Capacitor Banks for Efficient Power Transmission
A capacitor bank is a critical component in efficient power transmission systems, helping to reduce the phase difference between voltage and current, thereby optimizing power distribution performance. It plays a vital role in enhancing performance, reliability, and scalability while securely connecting users, programs, and data across multiple sites.
Key Market Drivers:
- Growing Energy Investments: Developing countries are witnessing substantial investments in the energy sector to bridge the demand-supply gap. Enterprises are diversifying into the industry to meet increasing energy requirements. This surge in energy infrastructure development is boosting the adoption of advanced electrical applications like capacitor banks.
- Refurbishment of Existing Electricity Networks: Many electricity networks worldwide are outdated and inefficient, resulting in frequent power outages. To address these issues and enhance energy infrastructures, enterprises and associations are refurbishing existing networks. This process often involves replacing and upgrading capacitor banks, improving energy stability and reliability.
- Efficient Power Transmission Systems: Reliable power distribution is a top priority, leading to a demand for efficient power transmission systems. Capacitors are essential in these systems, reducing power losses and ensuring voltage stability. Integrating capacitor banks enhances electrical supply quality and optimizes power system efficiency.
Company Profiles
Eaton Corporation plc, Comar Condensatori S.p.A, ABB Ltd., Enerlux Power s.r.l., Hitachi Ltd., Circutor S.A., Siemens Aktiengesellschaft, Toshiba Corporation, Vishay Intertechnology Inc., Alpes technologies Private Limited are among the major players that are driving the growth of the Global Capacitor Bank Market.
Report Scope:
In this report, the global capacitor bank market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Global Capacitor Bank Market, By Voltage:
- Low [< 10 kV]
- Medium [10 kV - 69 kV]
- High (>69kV)
Global Capacitor Bank Market, By Type:
- Internally Fused
- Externally Fused
- Fuse Less
Global Capacitor Bank Market, By Installation:
- Open Air Substation
- Metal Enclosed Substation
- Pole Mounted
- Others
Global Capacitor Bank Market, By Application:
- Power Factor Correction
- Harmonic Filter
- Voltage Regulation
- Renewable Integration
- Industrial Application
- Data Centers
- Others
Global Capacitor Bank Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Middle East & Africa
- Qatar
- South Africa
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/jer2t6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
