Shunt Capacitor Market Size

Shunt Capacitor Market size was over USD 963 Million in 2023 and is likely to reach USD 2.32 Billion by the end of 2036, growing at around 7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of shunt capacitor is assessed at USD 1.03 Billion.. 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.