Global Power Factor Correction Market Analysis & Power Quality Market Competitive Analysis + Database: Active Market, Passive Market

Global Power Factor Correction market experienced a decline of ~3% in 2020. Higher penetration of EVs, increased integration of renewable power sources, introduction of new power efficiency regulations and retrofitting are the key drivers for global PFC market. Buildings, hospitals, hotels, pharma, F&Bs, process plants and military applications are the key industries for Active filter solutions. Overall, the power quality market is experiencing a boost, but within power quality, the Active harmonic filtering market is increasing. Active solution prices experienced more increase compared to Passive solutions due to commodity price change.