Shunt Capacitor Market Trends

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

Shunt Capacitor Market Trends

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

Browse Key Market Insights with Data Illustration:


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.
Inquiry Before Buying Request Free Sample
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