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 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.
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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.
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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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