Shunt Capacitor Market is expected to reach up to a CAGR of 6.72%, with market size of USD 933.65 million at the end of the forecast period.
Market segmentation based on the basis of region:
The global Shunt Capacitor Market is segmented into multiple regions that include the Asia Pacific region, North America, Europe, and others. Among all, the Asia Pacific region holds the greatest value o5r largest market share that accounted for up to 41.30% in 2016. The market Revenuevalue was approx. USD 235.7 Million and is projected to grow at the highest CAGR of 7.34% during the forecast period. The demand for this industry grows in this region because of the improvement in lifestyle and growing population.
After the Asia Pacific region, China is the second-largest shunt capacitor Market Growth share region with enormous power distribution and transmission. China is investing around USD 83 billion in this industry, according to the IEA world outlook. But in 2016, Europe was measured as the second-largest shunt capacitor Market Trends 2016 with USD 151.0 million. The market was high at that time because of the growth in transmission. Now Europe is developing multiple grids to provide electricity between the countries to different regions, including Poland, Germany, the UK, Sweden, and France. These are helpful for grid reliability and reduction in shunt capacitor Market Analysis investments.
After the Asia Pacific and Europe, North America comes to the list that also plays a major role in shunt capacitors' growth. The market Analysis value is accounted up to 19.7% in 2016 with USD 112.2 million. Multiple marketing growth factors increase its value, and those are the replacement of the aging structure and government initiatives.
In rest of the world that includes the Middle East & Africa, accounted for the growth of up to 54.60% in 2016. At that time, the market analysis value was USD 39.3 million with a CAGR of 5.84%.
Covid 19 analysis:
The pandemic covid 19 creates a bad impact on the shunt capacitor Industryas in the other industries. The pandemic is hampered the overall market structure in a bad way. This market was going to halt because of the lack of investors and key players. Because of the pandemic, there is a reduction in sales value, manufacturing process, and product transfers.
Theshunt capacitor Industry suffered a lot, but the industry gets back to its normal position because of the government's steps and advanced strategies. Multiple key players analyzed the advanced strategies to deal with this pandemic. The pandemic forces them to adopt the technology for achieving growth. As a result, the industry is gaining popularity.
Key players of the global Shunt Capacitor Market
There are multiple key players in the shunt capacitor Market Analysiswhich helps in the growth of the shunt capacitor industry, and those are ABB (U.S.), General Electric (U.S.), Schneider Electric (France), Siemens (Germany), Eaton Corporation Plc (Ireland), Larsen & Toubro Ltd (India), Aerovox Corp. (U.S.), Magnewin Energy (India), SA (Spain), CIRCUTOR, Energy Capacitors Pvt Ltd (India) and others.
The global shunt market capacitor or shunt capacitor Industry is used in multiple industries because of the efficient power operation. The shunt capacitor Market Share industry is gaining a lot of popularity due to the increased popularity and wide uses. Along with there are multiple factors that drive the market revenue, mainly due to its cost and easy and quick installations. This is a virtual and convenient process that can be used anywhere in the power network. Besides these, the factors like high investments in renewable energy and increase in power consumption also play a great role in driving theshunt capacitor Market Revenue growth.
Along with this, the Shunt Capacitor Market Report has also gained some of the market restraints. These shunt capacitor Market Trends restraints create a barrier to the market and its growth. These are the major issues in the shunt capacitor Market Share industry that hampers the market growth. These restraints are fluctuations in raw materials and their prices and high investment cost.
The global market is segmented into the multiple factors that are discussed in the below paragraphs. Well, the shunt capacitor Market Share is segmented into voltage and applications. These segments are further re-segmented into multiple forms as below.
Market segmentation based on the voltage:
The shunt capacitor Market Outlook is segmented into the voltage type that is further sub-segmented into the low voltage, medium voltage, and high voltage. Among all these segmentation, the high voltage segments hold the largest shunt capacitor Market Growth share during the period of 2016 with 63.47%. At that time, the market has recorded a value of USD 362.3 million.
High voltage capacitors are widely used in multiple industries because of the reliability and performance. After this, the medium voltage was the second-largest shareholder company in the year 2016.
The shunt capacitor Market Outlook market was valued at USD 135.9 million in the year 2016 with a CAGR value of 5.79%. These capacitors are also used in industrial applications. These are used to meet the compensation requirements in the MV induction motors and overall power factor correction at the medium voltage bus.
Market segmentation based on the applications:
The shunt capacitor Market Outlook is segmented into the applications, which are further sub-segmented into the industries, utilities, and others. Among these, the utility segmentations are accounted for the largest market share, up to 56.30%, during the period of 2016. The market was valued at a growth of USD 321.4 Million in the year 2016. The shunt capacitors are used for the utilities for the utilization and distribution of voltage. This segment takes the help of shunt capacitors to prevent damages to the expensive equipment.
The demand for shunt capacitor Market Revenue is increased due to the increasing electricity access. Because of the excessive electricity needs, there is enormous growth in the number of substations, increasing the demand for shunt capacitors.
After that, the shunt capacitor Market Growth industry segment was the second-largest market in 2016 that was valued at USD 195.2 million. The market has projected a growth of 5.74% CAGR. If we talk about the industrial sector, then it totally depends upon the continuous power supply.
The shunt capacitor is an electrical device that is used in the electrical power system. This equipment is used to improve the quality of electrical supply and enabling efficient operation. Shunt capacitors are mainly used to provide the correct power factor. This technique is also known as power factor correction capacitors. The shunt capacitor Market Size is growing day by day because of renewable power generation. This is the driving factor of this market.
The report is presented for the particular forecast period. The report includes the introduction of shunt capacitors and their classifications. The shunt capacitor Market Size report is provided to prepare the application and the market overview. In this shunt capacitor Market Trends report, the analyst has analyzed the multiple product specifications, cost structure, manufacturing process, and raw materials.
The shunt capacitor market is segmented by the multiple factors that are also mentioned in the report. This market report especially focuses on the key global shunt capacitor manufacturers who help generate market revenue and popularity. Besides these, the shunt capacitor Market Size is also segmented into the sales volume, market share, sales volume, and market competition landscape.
Research methodologies of global Shunt Capacitor Market:
The global Shunt Capacitor Market report comprises multiple extensive features that include extensive primary and secondary research. Theshunt capacitor Market Value report is published by having a detailed analysis of the market value and market revenue. Multiple analysts prepared this report by using qualitative and quantitive aspects. They took help from multiple industry experts and leaders for the deeper insight value of the market. They give a detailed analysis of the market and industry performance.
Along with that, shunt capacitor Market Value also offers a picture of the current market scenario that includes the industry performance. The analyst uses multiple advanced types of equipment to determine the market information. They took help from the SWOT analysis and Porter's five force model. With the help of this, they define the market value and volume.
They consider macro and microeconomic factors in the market with detailed strategies. The report also gives a broad study on market segments based on the product, application, and region. The shunt capacitor Market Value report is meant to highlight the global shunt capacitor market growth potential in terms of its revenue hike by the end of the forecast years in 2023.
|Market Size||2023:USD 933.65 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Voltage and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB Ltd. (U.S.), General Electric Company (U.S.), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation Plc (Ireland), Larsen & Toubro Ltd (India), Aerovox Corp. (U.S.), Magnewin Energy Private Limited (India), SA (Spain), CIRCUTOR, Energy Capacitors Pvt Ltd (India) and others.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
High voltage was the leading segment in the market and had seized a share of 63.47% in the year 2016.
Considering the end-user segment, the market caters to industries, utilities and others.
In 2016, APAC managed to seize a share of 41.30% in the global market, making it the leading region.
Surging number of cross-border interconnections, and the expanding population back the market growth in Europe.
By the end of the review timeframe, the market can achieve a growth rate of 6.72%.
The top players in the global market for shunt capacitor are CIRCUTOR, SA (Spain), Larsen & Toubro Ltd (India), Siemens AG (Germany), ABB Ltd. (U.S.), Eaton Corporation Plc (Ireland), Magnewin Energy Private Limited (India), General Electric Company (U.S.), Energe Capacitors Pvt Ltd (India), Schneider Electric (France), Aerovox Corp. (U.S.), and others.
The market can reach a valuation of USD 893.8 million by the end of 023.