About Capacitor Banks
A capacitor bank is a group of capacitors that are connected with each other in parallel or series. It is primarily used to store electric energy and power-factor correction. Capacitor banks are a cost-effective source of reactive power and are widely deployed to increase transformer capacity, avoid penalties on utility bills, maintain nominal voltage, and lower energy losses. It is also used to enhance electrical supply quality and in radars, detonators, nuclear weapons, pulsed lasers, Marx generators, etc.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Capacitor Banks market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), ABB (Switzerland), Alpes Technologies (France), Aener Energia (Spain), CG Global (India), Eaton Corporation (Ireland), Schneider Electric (France), Gentec (Canada), General Electric (United States), Arteche (Spain) and Alstom (France) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Capacitor Banks market by Type (Automatic Capacitor Bank and Shunt Capacitor Bank), Application (Power-Factor Correction, Energy Storage, Fusion Research and Others) and Region.
On the basis of geography, the market of Capacitor Banks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Connections, the sub-segment i.e. Star Connection will boost the Capacitor Banks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage, the sub-segment i.e. High-Voltage will boost the Capacitor Banks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacitor Types, the sub-segment i.e. Internally Fused will boost the Capacitor Banks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Controlled Switching Technologies in Capacitor Banks
Market Growth Drivers:
Surging Demand of Energy Across the Globe Due to High Adoption of Electronics and Increased Use of Capacitor Banks in Wind-Farm Substation to Store Electric Energy
Challenges:
Current-Limiting Fuses In Low Voltage Capacitor Banks
Restraints:
Concern Regarding Safety Issues of Capacitor in Medium Voltage Systems
Opportunities:
Rapid Development of Offshore Wind-Farms Worldwide
In 2020, Siemens released The DLC Module (Double Layer Capacitor Module) is an energy storage device for machines for connection to the SINAMICS S120 DC link of 380–480V 3AC devices, either directly or via the DC-DC chopper.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Capacitor Banks Manufacturers, Suppliers and Distributors of Capacitor Banks, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.