Market Research Report
Capacitor Bank Market Size By Voltage, By Type, By Application Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
|Capacitor Bank Market Size By Voltage, By Type, By Application Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026|
Published: September 28, 2020
Global Market Insights Inc.
Content info: 320 Pages
Delivery time: 2-3 business days
Capacitor Bank Market Size By Voltage (Low [<10 kV], Medium [10 kV - 69 kV], High [>69 kV]), By Type (Open Air Substation, Metal Enclosed Substation, Pole Mounted, Others), By Application (Power Factor Correction, Harmonic Filter, Voltage Regulation, Renewable Integration, Industrial Application, Data Centers. Others) Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Spain, Italy, UK, Netherlands, Russia, Sweden, China, India, Japan, South Korea, Indonesia, New Zealand, Malaysia, Thailand, Singapore, Australia, Saudi Arabia, UAE, Qatar, Oman, South Africa, Brazil, Chile, Argentina), Application Potential, Competitive Market Share & Forecast, 2020 - 2026.
The global capacitor banks market is likely to record significant gains over the forthcoming timeframe owing to rising investments toward the development of new grid infrastructure, growing demand for smart grid network, and technological advancements.
A capacitor bank is grouping of numerous capacitors having similar rating. These are connected in parallel or series, generally depending upon the required rating. In terms of individual capacitor, banks of capacitors are utilized for storing electrical energy and conditioning the flow of the energy. Capacitor banks can be installed with ease anywhere on the power network and can deliver to the complete power system. In terms of benefits, these components are less expensive than other solutions, which is likely to increase their demand.
Global capacitor bank market is bifurcated in terms of voltage, type, application, and regional landscape.
With respect to type, the global capacitor bank market is classified into pole mounted, metal enclosed substation, open air substation, and others. The others segment includes mobile capacitor banks and specialty application banks among others. Mobile capacitor banks can be an essential part of utility operations, essentially providing a feasible option for extending sub-station operations for both present as well as future application needs.
In terms of application, the overall capacitor bank market is segmented into data centers, industrial application, renewable integration, voltage regulation, harmonic filter, power factor conversion, and others. Installing a capacitor bank for harmonic filter application segment can enhance the voltage stability, reduce the network losses at a substation, and provide higher power factor, which will drive the industry statistics.
In terms of voltage regulation segment, capacitor banks provide enhanced voltage regulation and can decrease the per MW capital investment of the load. This is likely to stimulate the business growth over the coming years.
Capacitors banks are deployed across commercial applications such as data centers to optimize the power factor of the establishments. This will further augment the product demand across data center application segment. The other applications of capacitor banks include capacitive reactive compensation in a transmission substation, E-houses, battery energy storage solutions, and others
From a regional frame of reference, technological advancements along with the increasing demand for smart grid network will embellish the demand for capacitor banks across Europe. Substantial power demand owing to increasing investments toward the development of new grid infrastructure will drive the Middle East & Africa capacitor bank market over the coming years. The market is also likely to be driven by grid modernization over the coming years.