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Shunt Capacitor Market Analysis by Type (Low, Medium, and High Voltage); by Application (Utilities, Industries, and Others); and by System (Floor, Pole, and Wall-Mounted, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • ABB Group was selected to supply a High Voltage Direct Current (HVDC) Light Valve, high voltage capacitors, and power semiconductor devices to China for its Zhangbei HVDC grid built in the area of Beijing-Tianjin-Hebei. This HVDC will help to control and transmit power flow between grids efficiently by supporting the voltage and frequency of weak grids.

  • GE: GE (General Electric) declared the first Solution developed after the acquisition of Opus One Solutions. ‘Opus One DERMS’ Solution (Distributed Energy Resource Management System) helps utilities to optimize the energy transition and help keep the electric grid safe, secure, and resilient.

Global Shunt Capacitor Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 900 Million

Forecast Year Market Size (2035)

~ USD 1 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global shunt capacitor market is estimated to garner a revenue of ~USD 1 Billion by the end of 2035 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 900 Million in the year 2022. The growth of the market can be attributed to increasing in power generation plants and transmission cables. With the rapid urbanization, the need of power and energy has considerably grown which is expected to bring lucrative growth opportunities for the market. The global power plant database covers about 30,000 power plants from around 164 countries involving thermal plants and renewables.

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The rise in rural electricity supply initiatives and an increase in long-distance transmission of high voltage power cables is estimated to boost the global shunt capacitor market growth. Increased power generation plants and transmission lines have impacted the sales of global shunt capacitor market trends across the globe. Worldwide data transmission networks consumed about 260-340TWh or 1.1-1.4% of global electricity consumption in 2020. The global energy consumption by data centers in 2020 was 200-250 TWh which is around 1% of final electricity demand, excluding the cryptocurrency mining consumption of ~100 TWh in 2020.

Global Shunt Capacitor Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Need for Distribution Energy The increased urbanization along with industrialization has prompted the rise in consumption of electricity for varied processes. Also, the high demand from end-use industries is expected to increase the production of electricity and energy which, in turn, is projected to expand the market size of shunt capacitor. In 2021, the U.S. primary energy consumption by energy sources used 36% petroleum, 8% nuclear electric power, 11% coal, 12% renewable energy, and 325 natural gas which adds to a total of 97.33 quadrillion Btu (British Thermal Units).

  • Rapid Adoption of Electricity in Rural AreasThe worldwide population with access to electricity increased from 87.7% of the population in 2016 to 90.5 % of the population in 2020.

  • Increasing Demand for Telecommunication – The Federal Communications Commission and Department of Education working together to promote remote learning with the use of USD 16 billion funds from the CARES Act’s Education Stabilization Fund.

  • Rise of Industries and Manufacturing Units – U.S Manufacturing contributed USD 2269.2 to U.S GDP in 2020 which is 10.8% of total GDP. Also in 2019, the U.S. manufacturing imported value of intermediate goods and services is 14.7% leading to 10.7% output from foreign origin.

  • Increase in Power Generation and Supply As per Electricity Market Report, coal-fired electricity generation is targeted to increase by 5% in 2021 and 3% in 2022 to reach a new high record. With current policy settings and economic trends, the world electricity generation is set to track 8% electricity demand in 2021 and higher than 6% in 2022.

Challenges

  • More Product Alternatives

  • Unfavorable Production During COVID-19 Pandemic – As per the Economic Commission for Latin America and the Caribbean more than 2.7 million companies are about to close of which 2.6 million microenterprises and 8.5 million jobs are at stake during the pandemic in 2020.

  • High-Cost Investment

The global shunt capacitor market is segmented and analyzed for demand and supply by application into utilities, industries, and others. Out of which, industries are anticipated to hold the largest market size by the end of 2035 in the global shunt capacitor market. The growth of the market segment is on account of rapid growth in the economy and population that led to increasing telecommunication such as fiber net and broadband. As per the Organization for Economic Co-operation and Development, in 2021 the number of fixed subscriptions raised by 18.6%, and fixed broadband subscriptions increased by 32.4% in 2022.

Global Shunt Capacitor Market Regional Synopsis

The North America shunt capacitor market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, on the back of rapid urbanization, an increase in industrial and manufacturing units backed by increased railways, metros, high-speed trains, IT hubs, and commercial centers in developing countries. The Federal Railroad Administration in June 2022 released a budget of USD 368 million for 46 projects in 32 states of Columbia district in Consolidated Rail Infrastructure and Safety Improvements grant program funds. About 46.3% i.e.,3.6 million people reported using a bus, 37.7% used subway or elevated rail, 11.8% used commuter rail or long-distance train, 3.1% take street cars or trolleys, and 1% used ferryboat as primary commuting mode in 2021.

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Market Segmentation

Our in-depth analysis of the global shunt capacitor market includes the following segments:

     By Voltage Type

  • Low voltage
  • Medium voltage
  • High voltage

     By Application

  • Utility
  • Industries
  • Others

      By System

  • Floor-mounted
  • Pole-mounted
  • Wall-mounted
  • Others

Top Featured Companies Dominating the Global Shunt Capacitor Market

  • ABB Group

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Siemens Aktiengesellschaft
  • General Electric Company
  • Schneider Electric SE
  • Larsen & Toubro Limited
  • Eaton Corporation
  • Aerovox Business Management
  • Magnewin Energy Private Limited
  • CIRCUTOR, SAU
  • Energe Capacitors Pvt Ltd

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