Worldwide deals of shunt capacitor is supposed to develop at a CAGR of around 8% by 2031. A shunt capacitor is an electrical gadget that works on the nature of power supply and allows effective activity of the power framework.
These capacitors are basically introduced to give capacitive responsive remuneration or power factor adjustment. The use of the shunt capacitor is expanding consistently, essentially because of its minimal expense, simple and speedy establishment and helpful virtual sending, anyplace in the power organization.
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What is Driving Demand for Shunt Capacitor?
Growth of the residential & commercial construction sector and rise in investments for the development of railways and other transportation infrastructure are expected to drive the global demand for shunt capacitor during the forecast period.
Exponentially growing urbanization and rising population have increased the demand for power generation, telecommunications, infrastructure and mass transportation. This, in turn, is anticipated to augment the demand for power transmission and distribution infrastructure in the near future.
The major growth driver for the global shunt capacitor market is the rising demand for electricity, as the per capita consumption of electricity is gaining pace. Moreover, all electrical network require the use of a shunt capacitor for efficient, reliable, and safe operation. The increasing industrial activities around the globe and manufacturing units are estimated to boost the market growth over the forecast period.
Power Generation Industry is expected to Contribute Largest Market Share
The global power industry is significantly transforming, with increasing demand for reliable and efficient power supply, implementation of sustainability policies, and emergence of new technologies fueling the modernization of grid and power infrastructure. Furthermore, rise in the demand for modernized and upgraded power grids is boosting the global shunt capacitor industry growth.
In addition to this, increasing concerns about environment and initiatives by various governments across the world are expected to increase investments in the renewable energy generation during the forecast period.
This spike in the development of modern power grid infrastructure is estimated to raise the demand for shunt capacitors during the forecast period All in all, shunt capacitors are also easy to install and maintain, and they have a longer life span than their counterparts. Therefore, they are a more preferred option when it comes to stabilizing power systems.
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Who are the Key Shunt Capacitor Manufacturers?
Some of the leading providers of shunt capacitor include
- ABB Ltd.
- General Electric Company
- Siemens AG
- Larsen & Toubro Ltd.
- Eaton Corporation Plc
- Magnewin Energy Pvt. Ltd.
- Globe Capacitors Ltd.
- Motif Electric Limited
- TDK Electronics AG
- Schneider Electric SE
- Among others.
Key Segments
By Voltage
- Low
- Medium
- High
By End Use Industry
- Power Generation
- Renewable Energy
- Transmission and Distribution Utilities
- Transport & Infrastructure
- Industrial
- Others
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia & Pacific
- India
- Malaysia
- Indonesia
- Singapore
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- Turkey
- South Africa
- North Africa
- Rest of Middle East & Africa
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