Global Automatic Power Factor Controller Market – Industry Trends and Forecast to 2029

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Market Analysis and Size

The global market for automatic power factor controllers is anticipated to generate significant amounts of revenue over the forecast period. The market’s significant growth can be attributed to the adoption of automatic power factor controllers to reduce losses in electric systems and maintain the power factor. Some of the developing nations in the Asia Pacific region that could lead the global market for automated power factor controllers include South Korea, Japan, India, and China. Consequently, such growth determinants give the market a positive outlook over the forecasted timeline.

Global automatic power factor controller market was valued at USD 5013.52 million in 2021 and is expected to reach USD 7129.73 million by 2029, registering a CAGR of 4.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

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Market Definition

The automatic power factor controller (also referred as APFC) is basically a tool that can automatically improve, maintain, or rectify the power factor level close to unity. The automatic power factor controller recognizes and corrects power factor decreases brought on by linked inductive loads in power circuits.

Automatic Power Factor Controller Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Burgeoning Demand across End Use Industries

The rising need for automatic power factor controllers across a variety of end-user industries is one of the key factors driving the growth of the automatic power factor controller market. The sector has a high demand for power management equipment, which is anticipated to boost the global market for automated power factor controllers. Additionally, the automatic power factor controller is now more widely accepted in sectors like business, manufacturing, commercial, military, and utilities, which could accelerate the expansion of the global market over the forecast period.

• Numerous Benefits offered by Automatic Power Factor Controller

The market for automated power factor controllers is positively impacted by their advantages, including decreased electricity prices, power savings, and power factor management. The global market is expected to grow at a rapid rate due to this controller's ability to safeguard electrical equipment. Consequently, these benefits of the automated power factor controllers further aids the market to gain traction over the forecast period.

Furthermore, the factors such as rapid industrialization and urbanization coupled with the surge in the infrastructure development investments will accelerate the overall market expansion during the forecast period. Additionally, the development of upgraded and sophisticated infrastructure is anticipated to drive the growth rate of the automatic power factor controller market. The expansion of industrial facilities to improve energy efficiency is further projected to positively impact the market's growth rate during the forecast period.

Opportunities

• Investments and Product Launches

The growing investments by the manufacturers for the advancements and improvisation is estimated to generate lucrative opportunities for the market, which will further expand the automatic power factor controller market's growth rate. Additionally, the surging product launches and other innovations by market players further offer numerous growth opportunities within the market.

Restraints/Challenges

• High Maintenance Costs

The high cost of maintaining autonomous power factor controllers is a significant barrier to the market's expansion. Due to its high cost, repairing the old one is not financially advantageous. The cost of developing and making APFC panels is high because they require large-capacity capacitors and inductors for low-frequency filtering. Commercial and industrial equipment is expensive and requires a one-time investment. High maintenance costs are constraining the global market for automated power factor controllers.

• Various Hazards In Power Factor Controller

The installation of the power factor controller has some additional dangers. When linked to the system, automatic power factor controller create a parallel resonance circuit between their capacitors and the network inductance of the system. Overvoltage tripping of drives and excessive voltage distortion are only a few of the major issues that can occasionally result from wave components close to the amplification of the parallel resonance. Insulation breakdown in motors, transformers, and conductors are another common issue. These hazards may constrain the market for automatic power factor controller.

• Standards And Regulatory Requirements

The standards and regulatory requirements will further derail the overall market’s growth rate. The standards and regulatory requirements to enhance the power factor further result in designing the complicated circuits. These complex circuits further require much attention and time. As a result, the regulatory requirements are estimated to be significant challenge for the automatic power factor controller market over the forecast period.

Also, the technological restrictions caused by excessive energy fluctuation and availability of substitutes such as vacuum contactors are other major restraints that hurdle the market's overall growth.

This automatic power factor controller market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automatic power factor controller market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automatic Power Factor Controller Market

The automatic power factor controller market was immensely impacted by the outbreak of COVID-19. In addition, consumer demand has declined as people have become more concerned with cutting expenses that are not absolutely necessary from their budgets as a result of the epidemic's negative effects on the general economic status of the majority of people. The aforementioned elements are projected to impact the growth trajectory of the global market for automatic power factor controllers during the forecast period. As various regulatory authorities remove these imposed lockdowns, the global market for automatic power factor controllers will be expected to rebound.

Global Automatic Power Factor Controller Market Scope

The automatic power factor controller market is segmented on the basis of type, component, installation type, and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Passive APFCs
• Active APFCs

 Component

• Relays
• Capacitors
• Resistors
• Displays
• Microcontrollers
• Switches

 Installation Type

• Self-Standing APFC Panels
• Wall-Mounted APFC Panels

 Industry

• Manufacturing
• Utility
• Commercial
• Enterprise
• Military

Automatic Power Factor Controller Market Regional Analysis/Insights

The automatic power factor controller market is analyzed and market size insights and trends are provided by country, type, component, installation type, and industry as referenced above.

The countries covered in the automatic power factor controller market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the automatic power factor controller market because of the presence of a major market players within the region over the forecast period of 2022 to 2029. Moreover, the expansion of industrial facilities to improve energy efficiency is further estimated to accelerate the expansion over the forecast period.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to development of advanced infrastructure within the region. Also, the factors such as the rapid urbanization and industrialization are also boosting the expansion of the regional market.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automatic Power Factor Controller Market Share Analysis

The automatic power factor controller market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automatic power factor controller market.

Some of the major players operating in the automatic power factor controller market are

• General Electric (U.S.)
• Siemens (Germany)
• ABB (Switzerland)
• Emerson Electric Co.  (U.S.)
• AVEVA Group plc (U.K.)
• Schneider Electric (France)
• STMicroelectronics (Switzerland)
• AB POWER SYSTEMS (India)
• Techno Power Systems (India)
• Semiconductor Components Industries, L.L.C. (U.S.)
• I.B.M. (U.S.)
• Eaton (Ireland)
• SAP SE (Germany)
• Oracle (U.S.)
• Robert Bosch GmbH (Germany)
• Texas Instruments Incorporated. (U.S.)
• Navitas Semiconductor Ltd.(U.S.)
• Fujitsu (Japan)
• ACPD Services Ltd (U.K.)

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