A study on the Shunt Capacitor Market has been conducted to understand the landscape in 2022.
Survey period: November 3-10, 2022
Survey coverage: We conducted a survey of 535 market players of all sizes. Number of valid answers: 535
Survey method: 214 field surveys, 321 internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Survey results:
Q: What are the growth prospects for the shunt capacitor market? The global shunt capacitor market is expected to generate a revenue of over US$2.1 billion by the end of 2035, growing at a CAGR of around 7% during the study period. Also, the revenue of the market in 2021 reached US$ 600 million.
Market growth is calculated on the basis of the global increase in power generation and transmission to meet the power demand of the growing population. Our research shows that global electricity demand will grow by more than 350 terawatt hours, or 3%, in early 2022. This is due to the post-COVID economic recovery.
Shunt capacitors improve the quality of generated and transmitted power and help power systems function efficiently. They help overcome power transmission problems such as low voltage regulation,
unreliability and power factor.
Question: What factors are driving the demand for shunt capacitors? According to our research, some of the key factors responsible for the increasing demand for shunt capacitors are −
Shunt capacitors are increasingly used in implantable medical devices such as defibrillators, insulin pumps and pacemakers, as well as portable and wearable devices.
These days, electricity reaches even the most remote corners of the world. For example, in India, over 98% of the rural population has access to electricity. This means that there is an increasing demand for shunt capacitors in long transmission lines.
The residential sector, which includes single-family homes and multi-family homes, is growing rapidly. In the United States, it accounts for more than one-third of the country’s electricity consumption.
The manufacturing industry accounts for the largest share of over 80% of industrial energy consumption each year. This is followed by mining, construction and agriculture. Chemicals, petroleum and coal products, and paper together accounted for over 68% of total manufacturing energy consumption in 2018.
Growing environmental and sustainability concerns have led various governments to invest in renewable energy power generation. As a result, the use of shunt capacitors has increased primarily due to their low cost, easy and quick installation, and longer life when compared to other alternatives.
Q: How is the shunt capacitor market segmented?
The shunt capacitor market is segmented based on voltage,
implementation type, and application. It is as follows −
1. Voltage to low voltage (LV) shunt power capacitor, medium voltage (MV) shunt power capacitor, and high voltage (HV) shunt power capacitor
Many industries use high voltage shunt power capacitors to improve capacity, resilience, and power quality. Applications for HV shunt power capacitors include power generation, transmission, distribution, and oil and gas infrastructure. Poor power factor (PF) causes line losses of 1-2% during transmission and distribution from power plants. This can be minimized with the help of shunt capacitors.
2. Mounting Type – Floor Mount, Pole Mount, and Wall Mount
In distribution feeders, pole-mounted shunt capacitors are installed. The voltage of the system where the pole mounted capacitor bank can be installed varies from 440 V to 33 KV.
Please see here for the detail. : https://bit.ly/3Yu7MVh
3. Applications – Power Generation, Transmission and Distribution Utilities, Portable Medical Devices, Transportation and
Infrastructure, Industry, etc.
By 2021, the industrial sector will account for over 33% of total energy consumed in the United States.
Question: Who are the world leaders in the shunt capacitor business? Leading providers of shunt capacitors include ABB Ltd., Siemens Aktiengesellschaft, General Electric Company, Schneider Electric SE, Larsen & Toubro Limited, Eaton Corporation, Aerovox Business Management, Magnewin Energy Private Limited, Energe Capacitors Pvt Ltd, Globe Capacitors Ltd. there is.
Question: What are the recent developments in the shunt capacitor industry? California-based Johanson Dielectrics currently offers a variety of multi-layer ceramic devices. These devices combine two balanced shunt capacitors with mutual inductance cancellation for EMI filtering and noise reduction.
ABB Group has been selected to deliver high voltage direct current (HVDC) light valves, high voltage capacitors and power semiconductor devices to China’s Zhangbei HVDC grid. This HVDC helps efficiently transmit and control the flow of power between grids.
General Electric’s latest “Opus One DERMS” solution (Distributed Energy Resource Management System) helps utilities optimize the energy transition. It also keeps the power grid safe, secure and robust. Question: Which regions are expected to offer lucrative growth opportunities for the shunt capacitor market?
Asia Pacific is expected to hold the largest share in the shunt capacitor market by the end of 2035 by maintaining a CAGR of around 7.4%. China is the world’s largest market for transmission and distribution (T&D), making huge investments every year. According to the latest report, China will invest more than US$70 billion in power grid construction projects in 2021.
The Europe region is the second largest region due to the growing demand for shunt capacitors in the growing electronics industry (especially in the UK and Germany). On the other hand, the North America region shunt capacitor market is expected to grow in the coming years. This is due to increased investment by the United States to improve the resilience and reliability of the U.S. power grid. The US government is investing over US$10 billion in grid resilience and innovation.
About the company:
Research Nester (RNPL) goal is to help clients achieve their goals by providing efficient business solutions. Through our diverse network of research analysts and consultants, we help our clients understand all the key aspects of business valuation, including budgeting, to deliver strategic business solutions around the world. RNPL has earned trust and a customer base in over 30 countries, with an even greater focus on expansion into other economies. We are committed to providing our clients with the best possible service and helping them expand their scope of business.
Details about this release: