In March 2021, Schneider Electric announced the launch of the new AccuSine PCSn active harmonic filter for low voltage applications, designed to help customers improve power quality, reduce energy waste and reduce operating costs.
In May 2021, ABB introduced the new PQF800-T reactive power compensation module, designed to help improve power quality and reduce energy consumption in industrial and commercial applications.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 3305
Published Date: Dec 21, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing demand for energy-efficient solutions and; the increasing integration of IoT and cloud computing are some of the major factors anticipated to drive the growth of the power factor corrector market.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2024-2036.
The major players in the market are of NAAC ENERGY CONTROLS, WEG S.A., Texas Instruments Inc., TDK Electronics AG, ON Semiconductor Components Industries LLC, STMicroelectronics, and others.
The industrial segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.