Pune, India -- (SBWIRE) -- 01/25/2018 -- Market Research Future published a Cooked research report on "Global Shunt Capacitor Market Research Report - Forecast to 2023"– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

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), Energe Capacitors Pvt Ltd (India) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Shunt Capacitor Market.

Shunt Capacitor Market - Overview

Shunt capacitors have several uses in the electric power systems. It is a device, which improves the quality of the electrical supply and enables efficient operation of the power system. Shunt capacitors are mainly installed to provide capacitive reactive compensation or power factor correction. It is also called as power factor correction capacitors. The Global Shunt Capacitor Market is growing with the rapid pace; mainly due to the increase in the power consumption.

Hence, Global Shunt Capacitor Market is expected to reach a market size of USD 893.8 Million by the end of the forecast period at CAGR of 6.72%.

According to a recent study report published by the Market Research Future, The global market of Shunt Capacitor is booming and expected to gain prominence over the forecast period. The global Shunt Capacitor market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 6.72% during the estimated period (2017 – 2023).

Currently, the Shunt Capacitor market is spurting mainly due to the growing attention and substantial investment in renewable power energy generation. The tremendous yearly addition (in capacity) of renewable energy requires the strong transmission and distribution network, which ultimately increases the demand of shunt capacitor. However, high initial investment and fluctuation in raw material prices are the major factor that may hamper the growth of the market.

Shunt Capacitor Market - Competitive Analysis

Characterized by the presence of several well-established and small players, the global Market of Shunt Capacitor appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Shunt Capacitor market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

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Industry News

In April 2016, General Electric Company opened the new Capacitor and Instrument Transformer Advanced Manufacturing Facility in Clearwater, Florida. The company invested USD 60 million in the facility and it will produce instrument transformers and capacitors for the global market. The factory has created 275 new jobs in the Tampa Bay region, training its employees to operate the latest technologies and digital platforms.
Aerovox Corp. has developed a class of rugged and long lasting power factor correction capacitors (PFCs) for 50 Hz applications. Use of PFC capacitors in industrial or manufacturing settings result in significant cost savings and longer equipment life.

On March 2014, Eaton Corporation Plc announced that it will invest in a new manufacturing facility in the Philippines for its electrical business to further expand its operations in the Asia Pacific market. The new facility will be located in Tanauan City, Batangas.

Shunt Capacitor Market - Segmentation

Global Shunt Capacitor Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
- On the basis of Voltage, the market has been segmented as high voltage, medium voltage and low voltage. High voltage dominates the material segment of the market and is projected to grow at the highest CAGR during the forecast period. High voltage capacitors are widely used in the high voltage power system. The capacitors are available in an extended voltage range to 5 kV. These capacitors offer excellent reliability and thermal shock performance. Medium Voltage was the second-largest market in 2016.

- Based on End User, the market has been segmented into Utilities, industries and others. Utilities dominates the end user segment of the market. Utilities are the major end-users of the shunt capacitor market. Substations are the crucial elements of any grid system, and require high-level protection to safeguard the stability of the entire system. Shunt capacitors are used broadly by utilities to prevent damages to critical and expensive equipment. The increasing electricity access across the world, would result in an increase in the number of substations, which would in turn, raise the demand for shunt capacitors.

- Based on Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

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Shunt Capacitor Market - Regional Analysis

Asia Pacific region dominates the global shunt capacitor market mainly due to increasing demand for energy because of the growing population and improvement in the lifestyle in the 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.

Europe is the second largest market for the Shunt Capacitor. 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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