Capacitor Bank Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Voltage (Low [<10 kV], Medium [10 kV - 69 kV], High [>69 kV]), By Type (Internally Fused, Externally Fused, Fuse Less), By Installation (Open Air Substation, Metal Enclosed Substation, Pole Mounted, Others), By Application (Power Factor Correction, Harmonic Filter, Voltage Regulation, Re
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCapacitor Bank Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Voltage (Low [<10 kV], Medium [10 kV - 69 kV], High [>69 kV]), By Type (Internally Fused, Externally Fused, Fuse Less), By Installation (Open Air Substation, Metal Enclosed Substation, Pole Mounted, Others), By Application (Power Factor Correction, Harmonic Filter, Voltage Regulation, Re
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 3.67 Billion |
| CAGR (2023-2028) | 3.92% |
| Fastest Growing Segment | Fuse Less |
| Largest Market | North America |
Global Capacitor Bank Market is predicted to proliferate during the forecast period due to the rapid growing investments in the energy sector, especially in developing countries by enterprises to meet the need for growing economies along with the development of more electronic products and electrifications.
The capacitor bank is a component of efficient power transmission systems that reduces the phase difference between the voltage and current to manage and optimize the performance of power distribution.
To compensate for the losses in transmission systems, businesses are increasingly utilising capacitor bank applications to provide stable voltage level, reactive power support, and increasing power transfer capability in the power system. Numerous innovations and product launch carried out in capacitor are expected to enhance the features of capacitor bank. This, in turn, is expected to drive market growth during the forecast period.
A physical collection of numerous capacitors with similar characteristics that are linked to one another in series or parallel to create a capacitor bank to store electrical energy is known as a capacitor bank.
To create a complete three-phase capacitor bank, these units are mostly coupled in the form of a star/delta connection. The most common capacitor units in the market are of the 1-phase kind, whereas 3-phase capacitor units are rarely produced. Moreover, capacitor banks come in three different configurationsinternally fused, externally fused, and fuse less. They are used to improve the operating efficiency of electric power systems and help transmission and distribution systems voltage stability during disturbances and high load conditions. In addition, capacitor banks can be left online continuously to meet the steady state reactive power requirements of the system or can be switched on or off to meet dynamic reactive requirements. These capacitor banks are generally used in nuclear weapons, coilguns, electromagnetic railguns radars, fusion research, pulsed lasers, marx generators, detonators, etc.
Refurbishment of Existing Electricity Networks
An electricity network is one of the biggest, most complicated, and most advanced systems in the world. Electricity networks across the world are obsolete, inefficient, and unable to handle the demands of the twenty-first century. Despite living in industrialized nations, millions of people experience daily power outages of a few hours. The majority of an energy network's components are outside infrastructure, which has contributed to the recent sharp rise in weather-related catastrophic outages.
For instance, in October 2022, National Grid has completed the first stage of a USD 162 million project to refurbish the existing overhead line network, 170km of overhead power line between Lincolnshire and Hertfordshire in England and Wales with the second phase completing in 2023.
Growing Investments in the Energy Sector, Especially in Developing Countries
However, countries like India still require an investment worth USD 540 billion by 2029 to meet its ambitious targets for electricity generation from renewable sources. Moreover, China has topped the world in clean energy investments, spent around USD 546 billion in 2022 nearly four times the amount of U.S. investments, which totaled USD141 billion including solar and wind energy, electric vehicles, and batteries. For instance, according to International Renewable Energy Agency (IRENA), global investment in energy transition technologies reached a new record of USD 1.3 trillion in 2022.
Download Free Sample ReportIncrease in Demand for Efficient Power Transmission Systems to ensure Reliable Power Distribution
The need for reliable power distribution has increased the demand of efficient power transmission systems. Electric power transmission systems in the countries mostly comprise of generating units that produce electricity. High voltage transmission lines that transport electricity over long distances require power transmission at high voltage levels from a power plant to a substation. The primary purpose of capacitors is to reduce the maximum demand and maintain the voltage at a certain level. As power losses are proportional to the square of the current. An efficient power transmission system requires the capacitors located as close as possible to the load are confined to decrease the load current. This, in turn, will reduce power losses of the system substantially.
Recent Advancements
- On Feb 16, 2023, VishayIntertechnology, Inc. announced the introduction of a new series of lowimpedance Automotive Grade miniature aluminum electrolytic capacitors thatdeliver higher performance in smaller case sizes than previous-generationsolutions. The Vishay BCcomponents 172 RLX series delivers 1700 mA in the 10 mmby 12 mm case size allowing designers to utilize fewer components, increasingdesign flexibility, and saving board space.
- On Aug 24, 2022, HitachiEnergy announced the inauguration of new power quality products manufacturingfacility in Doddaballapur in Bangaluru, India. The USD 12 million facilitywould produce cutting-edge capacitors, units, banks, and power electroniccompensators for low, medium, and high-voltage systems, which are employed inindustries, renewable energy, and transportation as well as power utilities.
- On Jan 12, 2021, CornellDubilier Electronics announced the release of its high-temperature prismaticcapacitors featuring a high capacitance at high voltages and temperatures. Thenew launch poised to replace the costly banks of wet tantalum capacitors withconsiderable size and cost advantages over series-parallel capacitors saving valuable space, weight, and cost.
Market Segmentation
Company Profiles
Eaton Corporation plc, Comar Condensatori S.p.A, ABB Ltd., Enerlux Power s.r.l., Hitachi Ltd., Circutor S.A., Siemens Aktiengesellschaft,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Voltage By Type By Installation By Application By Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Qatar, South Africa, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia |
| Key Companies Profiled | 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 among others |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy