Global Power Factor Correction Devices Market Report, History and Forecast 2017-2028, Breakdown Data by Companies, Key Regions, Types and Application

Power-factor correction increases the power factor of a load, improving efficiency for the distribution system to which it is attached. Linear loads with low power factor (such as induction motors) can be corrected with a passive network of capacitors or inductors. Non-linear loads, such as rectifiers, distort the current drawn from the system. In such cases, active or passive power factor correction may be used to counteract the distortion and raise the power factor. The devices for correction of the power factor may be at a central substation, spread out over a distribution system, or built into power-consuming equipment.
Market Analysis and Insights: Global Power Factor Correction Devices Market
The research report studies the Power Factor Correction Devices market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
Due to the COVID-19 pandemic, the global Power Factor Correction Devices market size is estimated to be worth US$ 6723.3 million in 2021 and is forecast to a readjusted size of US$ 9562.9 million by 2028 with a CAGR of 5.1% during the forecast period 2022-2028.
Global Power Factor Correction Devices main players are ABB, Schneider, Siemens, Eaton, etc. Global top four manufacturers hold a share nearly 40%. Asia-Pacific is the largest market, with a share above 50%.
Global Power Factor Correction Devices Scope and Segment
The global Power Factor Correction Devices market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Power Factor Correction Devices market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2017-2028.
Segment by Type
Power Capacitor
AC Reactor
Active Power Filter
Others
Segment by Application
Commercial Utility
Industrial Utility
Public Power Supply
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
By Company
ABB
Schneider
Siemens
Eaton
GE Grid Solutions
NISSIN ELECTRIC
Guilin Power Capacitor
Hubbell
Xian XD Power
Herong Electric
Shizuki Electric
Sieyuan Electric
Socomec
Rongxin Power Electronic
Ducati Energia
Iskra
ICAR SpA
Hangzhou Yinhu Electric