A shunt capacitor is an electrical device that improves the quality of electricity supply and permits efficient operation of the power system. These capacitors are primarily installed to provide capacitive reactive compensation or power factor correction. The application of the shunt capacitor is increasing continuously, mainly due to its low cost, easy and quick installation and convenient virtual deployment, anywhere in the power network. The shunt capacitor market is driven by various factors such as the increase in power consumption, and high investment in renewable energy power generation. The shunt capacitor market has various restraints such as fluctuation in raw material prices and high initial investment.
There is huge scope for shunt capacitor in developing nations. Developing markets such as India and China tend to have a higher growth rate with low level of competition. This gives them huge opportunities for the power business in these countries. Indian companies are displaying attention in power generation and in the electricity sector, and have developed 319.60 GW of power generation capacities. This will create vast opportunities for OEMs such as manufacturers of conductors, insulators, shunt capacitors and Engineering Procurement Construction (EPC).
For the purpose of this study, shunt capacitor market has been segmented, based on voltage, end-user, and region. By voltage, High Voltage accounted for the largest market share and is projected to grow at the highest CAGR of 7.38% during the forecast period. High voltage capacitors offer excellent reliability and thermal shock performance. By end-user, Utilities accounted for the largest market share and is projected to have the highest CAGR of 7.55% during the forecast period. Utilities use these capacitors at distribution and utilization voltages to provide reactive power near the inductive loads that require it.
ABB Ltd. (U.S.), Schneider Electric (France), General Electric Company (U.S.), Siemens AG (Germany), Larsen & Toubro Ltd (India), Eaton Corporation Plc (Ireland), Aerovox Corp. (U.S.), Magnewin Energy Private Limited (India), CIRCUTOR, SA (Spain), and Energe Capacitors Pvt Ltd (India).
Objective of Global Shunt Capacitor Market Analysis & Forecast, from 2017 to 2023
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments included in global offshore wind market (for the next five to ten years), with the analysis of its development and demand in the market
- To identify high growth regions and countries
- To study regional and country-specific demand and forecast for global shunt capacitor market
- To cover the key segments of voltage, application and region
- To finalize unit breakdown for all different classifications required for forecasting, considering various factors
- To identify forecast demand for all probable segments for all the regions, and to collect the historical figure, data through primary and annual reports to derive the regional and country level market size
- To identify historical trends to forecast and estimate the future value data
- Research Institutes & education institute
- Potential investors
- Key executive (CEO and COO) and strategy growth manager
- Global shunt capacitor market is expected to reach USD 893.8 million by 2023.
- By voltage, High Voltage accounted for the largest market share of 63.47% in 2016, and is projected to grow at the highest CAGR of 7.38% during the forecast period.
- By application, Utilities accounted for the largest market share of 56.30% in 2016, and is projected to grow at the highest CAGR of 7.55% during the forecast period.
- Asia Pacific, of all regions accounted for the largest market share of 41.30% in 2016 and is projected to grow at a CAGR of 7.34% during the forecast period.
Regional and Country Analysis of Global Shunt Capacitor Market Estimation and Forecast
Geographically, the global shunt capacitor market has been divided into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region holds the largest market share in shunt capacitor market. Growing population and improvement in the lifestyle in the region ultimately increase the consumption of energy. Hence there is high demand for the shunt capacitor. Moreover, a rise in investment in T&D network is also a positive influence on the growth of the market. India, China, Japan, and Indonesia are the major markets in the region.
Europe is the second largest market for the shunt capacitor in 2016. The increasing number of cross-border interconnections in Europe will drive the growth for the transmission and distribution (T&D) equipment. Additionally, increasing upgradation of old infrastucture and is also fuelling nthe growth of the market.
The reports also cover country-level analysis:
- ·North America
- ·Rest of Europe
- ·Asia Pacific
- ·Rest of Asia Pacific
- ·Rest of the World
- ·South America
- ·Middle East & Africa