Automatic Power Factor Controller - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Automatic Power Factor Controller market is accounted for $3.70 billion in 2018 and is expected to reach $6.57 billion by 2027 growing at a CAGR of 6.6% during the forecast period. Some of the key factors propelling the market growth are rising need for energy conservation in industries and home utilities to reduce power losses and rising requirement of preventing damage to appliances and equipment due to overvoltage conditions. However, high initial cost of installation of these panels for industrial verticals is the restraining factor for the growth of the market.
Automatic Power Factor Controllers are completely automated in function and can accomplish preferred power factor under unstable load circumstances. They are mainly used for the improvement of Power Factor which can be explained as ratio of active power to apparent power and it is a key factor in measuring electrical consumption. These panels come real handy in the achievement of this purpose. Use of these control panels becomes indispensable in those industries where electrical installations are meant to supply to large electrical load. They also supervise the reactive power of a plant and prevent overloads.
By application, process industries segment is expected to grow at the significant market share during the forecast period. The increasing utilization of this controller in the process industries such as power, oil and gas, food and beverage, and plastics industries and the rising investments for the development of these industries, will be major factors driving the growth of this market segment. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the growing development of infrastructures such as commercial buildings, power plants, and others for developing economies of the region would be the driving factor for the market in the region. Oil and gas, automotive, and power industries are the major end-user industries to the market in the region.
Some of the key players in Automatic Power Factor Controller Market include ABB Ltd, General Electric Company, Eaton Corporation PLC, Schneider Electric SE, EPCOS AG, Texas Instruments Inc, Fairchild Semiconductor International Inc, on Semiconductor Corporation, Stmicroelectronics N.V., Crompton Greaves Ltd and Larsen & Toubro Limited.
• Passive APFCs
• Active APFCs
• Potential Transformer
• Zero Crossing Circuit
Installation Types Covered:
• Wall-Mounted APFC Panels
• Self-Standing APFC Panels
• Discrete Industries
• Process Industries
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Supply chain trends mapping the latest technological advancements
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