Global Capacitor Banks Market – Overview
The Global Capacitor Banks Market is growing with the rapid pace; mainly due to the increase in the power consumption. According to World Bank, in 2014, the consumption of electricity was 3,144.4 kWh per capita as compared to 2,956.6 in 2010.
A Capacitor Bank is a group of several capacitors of the same rating that are connected in series or parallel with each other to store electrical energy. The resulting bank is then used correct a power factor lag or phase shift in an alternating current (AC) power supply. They can also be used in a direct current (DC) power supply to increase the ripple current capacity of the power supply.
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Alstom SA (France), BB Ltd. (Switzerland), Siemens Energy (Germany),Toshiba (Japan), Epcos AG (Germany) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Capacitor Banks Market.
Capacitor Banks Market – Segmentation
Global Capacitor Banks Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of technology, the market has been segmented as Line Commutated Converter (LCC), and Voltage Source Converter (VSC).
Based on End User, the Capacitor Banks Market has been segmented into Commercial, Residential, and Industrial.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Capacitor Banks Market – Regional Analysis
Asia Pacific region dominates the global capacitor banks market mainly due to increasing demand for energy because of the growing population and improvement in the lifestyle in the region. China, India, japan and Indonesia are the major market in Asia Pacific region. China accounted for the largest share in Asia pacific region mainly due to strong economic growth along with high investment in transmission & distribution network. According to IEA World Energy Investment Outlook, China is investing around USD 83 billion on their transmission & distribution network. In India, the rising participation of the private sector in power generation, transmission and distribution sectors, is leading to the rapid development of robust and healthy domestic electrical equipment (EE) industry.
Europe is another major market for the capacitor banks. The increasing number of cross-border interconnections will drive the growth for the transmission and distribution (T&D) equipment market in Europe. The region is developing an interconnected grid that can transfer electricity between countries in the region such as between the UK, Germany, Poland, France, and Sweden. This drives the growth of the market.
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