Shunt Capacitor Market Size & Share, by Type (Low, Medium, High Voltage); Application (Utilities, Industries); System (Floor, Pole, Wall-Mounted) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4277
  • Published Date: Mar 03, 2023
  • Report Format: PDF, PPT

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

Shunt Capacitor Market size is anticipated to reach USD 1 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of shunt capacitor was USD 900 Million. The growth of the market can be attributed to growth in power generation technologies and establishment of 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.

The rise in rural electricity supply initiatives and an increase in long-distance transmission of high voltage 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-scope
Get more information on this report: Request Free Sample PDF

Shunt Capacitor Sector: 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 Areas - The 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

  • Unfavorable Production During COVID-19 Pandemic - As per the Economic Commission for Latin America and the Caribbean more than 2.7 million companies were expected to close down of which 2.6 million microenterprises and 8.5 million jobs were at stake during the pandemic in 2020. Since, the company was shut down the production capacity was also reduced. However even though the market tried to boost after the pandemic still the growth is relatively slower as compared to that of before pandemic.
  • High-Cost Investment
  • More Product Alternatives

Shunt Capacitor Market: Key Insights

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 the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Shunt Capacitor Segmentation

Application (Utilities, Industries)

The global shunt capacitor market is segmented and analyzed for demand and supply by application into utilities, industries, and others. Out of these, the industries segment is 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. Additionally, there has been exponential growth in residential and commercial construction sector. Owing to the growing population and rise in shift of people from rural to urban region the demand for construction activities is growing which is further boosting the growth of the construction sector.

Type (Low, Medium, High Voltage)

The global shunt capacitor market is also segmented and analyzed for demand and supply by voltage type into low, medium, and high. Amongst which, the high segment is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to growing launch of satellites which requires coil guns. A multi-stage coil with a coil arrangement acting as a launcher is charged by a high voltage capacitor system that is energy intensive to operate. Unfortunately, big currents and the high voltage necessary are extremely limited. Hence, other methods of energy storage include high voltage capacitor banks is used. Additionally, the growing demand for grid infrastructure in order to stratify the need for increasing electricity accessibility is also estimated to boost the segment growth.

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

         By Type

  • Low
  • Medium
  • High

         By Application

  • Utilities
  • Industries
  • Others

         By System

  • Floor-Mounted
  • Pole-Mounted
  • Wall-Mounted
  • Others

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Shunt Capacitor Industry - Regional Synopsis

North American Market Forecast   

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.

APAC Market Statistics

Further, the market in the Asia Pacific region is estimated to grow owing to the factors such as growing urbanization which is further boosting the development of infrastructure. Additionally, the demand for renewable and sustainable energy is increasing which is also estimated to boost the market growing in this region. Moreover, the focus of government on rural electrification is growing in this region which is estimated to have positive impact on the demand for shunt capacitor. Also, the shunt capacitor is necessary for an effective, dependable, and steady energy supply in the growing number of metros, railroads, business centers, IT hubs, and high-speed trains. Therefore, the development of these applications in this region the market is expected to grow.

Research Nester
Global-Shunt-Capacitor-Market-regional
Get more information on this report: Request Free Sample PDF

Companies Dominating the Shunt Capacitor Landscape

top-features-companies
    • 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

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 would help to control and transmit power flow between grids efficiently by supporting the voltage and frequency of weak grids.

  • 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.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4277
  • Published Date: Mar 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing need for distribution of energy, rapid urbanization, and increased demand for telecommunication are the major factors driving the growth of the shunt capacitor market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

More alternatives, unfavorable production during pandemic, and high-cost investments are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are ABB Group, Siemens Aktiengesellschaft, General Electric Company, Schneider Electric SE, Larsen & Toubro Limited, Eaton, Aerovox Business Management, Magnewin Energy Private Limited, CIRCUTOR, SAU, Energe Capacitors Pvt Ltd.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by voltage type, application, system and by region.

The industries segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Shunt Capacitor Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying