Selbyville, Delaware, United States, October 22 2020 (Wiredrelease) Global Market Insights, Inc –:The global capacitor bank market has witnessed considerable expansion over the years due to the magnifying demand for electricity along with the need to reduce the line losses, globally. Capacitor bank helps in enhancing the operational efficiency of supply systems and offers voltage stability during peak load. This is amplifying the use of these equipment across substations.
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Concerning the type of voltage, high voltage capacitors have gained considerable deployment over the years due to installation across various industrial facilities and power plants to control the current and voltage fluctuations from non-linear electrical equipment. The growing need for a reliable power factor correction solution and to enhance the supply of power across various grid network will support the adoption of the product.
According to reports, global capacitor bank market could register annual installations of more than 160 thousand units through 2026.Pole mounted capacitor banks are mainly used on an electric pole and is fixed using a robust frame structure to mitigate the risk of damage that may occur due to extreme climatic conditions.
The ease of installation, minimum maintenance along with improved operational efficiency are some of the positive characteristics of pole-mounted capacitors. These banks carry the ability to offer support for voltage regulations, reduce system losses, and controls power system penalties.
With respect to geographical expanse, Latin America has emerged as a substantial market for capacitor banks, due to the increasing urbanization in the region primarily due to the improvement in employment conditions among the people. Infrastructural development has led to the demand for efficient solutions for power factor correction. There has been an escalating demand for power across commercial and residential sectors along with the need for a secure power supply source and grid stability.
In maximum industrial units, power systems deliver AC current for running electrical tools and equipment, which makes power factor one of the main aspects of electricity transmission. For various heavy industrial instruments, the power factor correction solution is extremely important to rectify the current, DC drivers, furnace, induction furnaces, and welders. A reduction in utility penalties for low power factor and optimized consumption of energy are some of the integral factors which are supporting the use of the product across industrial applications.
In essence, the constantly growing need for reliable and safe electricity due to the developments in infrastructure and industries worldwide will support the demand for the product in the near future. Capacitor bank manufacturers are heavily investing in R&D to improve the quality of the product and meet the changing consumer demands. Some of the major industry players include Siemens AG, ABB Limited, Schneider Electric, and Eaton Corporation, among others.
Partial Table of Contents (ToC) of the report:
Chapter 4 Capacitor Bank Market, By Voltage
4.1 Capacitor bank market share by voltage, 2019 & 2026
4.2 Low [<10 kV]
4.2.1 Global market from low [<10 kV], 2015 – 2026
4.2.2 Global market from low [<10 kV], by region, 2015 – 2026
4.3 Medium [10 kV – 69 kV]
4.3.1 Global market from medium [10 kV – 69 kV], 2015 – 2026
4.3.2 Global market from medium [10 kV – 69 kV], by region, 2015 – 2026
4.4 High [>69 kV]
4.4.1 Global market from high [>69 kV], 2015 – 2026
4.4.2 Global market from high [>69 kV], by region, 2015 – 2026
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