Shunt Capacitor Market Size

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

Shunt Capacitor Market Size

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.

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Author Credits:  Abhishek Verma

  • 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.
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