Capacitor Banks Market Synopsis:
A capacitor bank is a combination of similar
capacitors used to store energy. The latest study has been published by Market
Research Future (MRFR), which unfolds that the global capacitor banks market is
expected to register a steady CAGR over the evaluation period. Capacitor banks
are used for rectifying power lag or phase shift; thus, increasing power
consumption levels are anticipated to drive the expansion of the capacitor
banks market size over the next couple of years.
Increasing demand for power owing to rapid
urbanization and industrialization is also projected to catapult capacitor
banks market on upward trajectory. Technological innovations are expected to
facilitate the market to gain further prominence in the years to come.
Increasing investments in energy & power sector by the governments are
poised to unleash developmental opportunities for key players. However, high
initial investment is anticipated to check the growth rate of the capacitor
banks market in the foreseeable future.
Market Segmentation:
The segmental analysis of the capacitor banks
market, in this MRFR study, is done based on technology and end-user.
On the basis of technology, the market has been
bifurcated into Voltage Source Converter (VSC) and Line Commutated Converter
(LCC).
On the basis of end-user, the global capacitor banks
market has been segmented into commercial, residential, and industrial.
Competitive Dashboard:
BB Ltd. (Switzerland), Alstom SA (France), Siemens
Energy (Germany), Epcos AG (Germany), Toshiba (Japan) are few of the prominent
players operating in the global capacitor banks market and assessed in the
share analysis included in the report. The market is assessed to remain
competitive in the years to come owing to the presence of both well-established
as well as small players. Participants in the capacitor banks market are projected
to emphasize on product quality and pricing policies for gaining an edge over
its competitors.
Regional Analysis:
The geographical evaluation of the global capacitor
banks market covers four major regional segments - North America, Asia Pacific
(APAC), Europe, and the Rest of the World (RoW).
Asia Pacific is anticipated to dictate the growth of
the global market over the next couple of years. Increasing population and
rising standards of living have led to an increasing need for energy. In
addition, rapid urban migration and industrialization are also likely to fuel demand
for energy in the years to come. These factors are expected to work in favor of
the growth pattern of the capacitor banks market in the region. The governments
are investing in energy generation and distribution, which is projected to
boost the revenue growth of the regional market over the next few years. China
holds the forefront position in the regional segment owing to its massive
investments in the power and energy sector. India, on the other hand, is also
projected to contribute substantially to the development of the regional
capacitor banks market across the forecast period.
Europe is an important growth pocket of the global
capacitor banks market. An increasing number of cross-border interconnections
is anticipated to drive the growth of the regional market over the next few
years.
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