[227 Pages Report] The global power factor correction devices market size was valued at US$ 5,732.6 Mn in 2021 and is estimated to touch a valuation of US$ 6,025.9 Mn in 2022. Furthermore, with rising adoption across industrial and commercial sectors, the overall demand for power factor correction devices is slated to grow at a CAGR of 5.7% between 2022 and 2032, reaching a valuation of US$ 10,471.0 Mn by 2032.
By end-use, the industrial sector currently accounts for more than 80% share of the global power factor correction market. Demand from end-use industries such as manufacturing industries, heavy industries, and the commercial sector is surging due to the rapidly growing world population.
Power factor correction devices increase the power factor of a load, thereby minimizing electricity cost and increasing energy efficiency. These devices aid in removing additional charges in electricity supply, reduce energy losses, and carbon footprint, and can be installed in available space due to its modular design and compact size.
Installation of power factor correction (PFC) devices in manufacturing facilities is anticipated to improve power quality by ensuring efficient power use, lowering capital expenditures, and increasing the facilities' economic viability.
Europe is anticipated to hold the majority of the share in the global power factor correction market due to escalating need for technology driven products with increased cost effectiveness and decreased power consumption. FMI predicts Europe to hold 28.9% of the total market share in 2022.
FMI’ latest analysis reveals that the power factor correction devices market accounts for 8 to 14% of its parent power quality equipment market.
|
Attribute |
Key Statistics |
|
Global Power Factor Correction Devices Market Size (2021A) |
US$ 5,732.6 Mn |
|
Estimated Market Size (2022E) |
US$ 6,025.9 Mn |
|
Projected Market Valuation (2032F) |
US$ 10,471.0 Mn |
|
Value-based CAGR (2022-2032) |
5.7% |
|
Collective Value Share: Top 3 Countries (2022) |
35.7% |
The global demand for power factor correction devices is projected to increase at a steady CAGR of 5.7% between 2022 and 2032, in comparison to 3.4% CAGR registered from 2017 and 2021. Increasing applications of power factor correction devices across various end-use sectors is a key factor driving growth in the global power factor correction devices market.
Power factor correction devices have become ideal electronic devices for compensating the lagging current, they improve electricity efficiency and reduce costs. Furthermore, these devices offer advantages such as ease of installation, repair, and maintenance activities.
The demand for power factor correction devices has significantly increased as a result of the rapid expansion of HVAC systems throughout the world and increased public awareness of the need to save electricity by integrating power factor correction devices into electrical systems.
Over the forecast period, it is anticipated that the use of energy-efficiency norms and regulations for the building of public lighting and power systems will increase the need for power factor correction devices and power quality devices.
“Expansion of Industrial End Use Sector Supporting the Growth of Power Factor Correction Devices”
The automotive industry requires a continuous supply of power due to the ongoing production of vehicles. Increasing demand for electric vehicles is expected to boost the production process of automotive manufacturing units, which will require a safe and stable power supply. Power factor correction devices are suitable for such applications and provide efficient power distribution across networks.
A poor power factor in the electric system increases the operating cost for manufacturers due to increased power consumption. As a result, industries employ power factor correction devices. Adoption of power factor correction devices enable users to lower power consumption, increase cost efficiency, and enhance the efficiency of the system.
The power consumption at various production facilities is anticipated to increase as the production capacity increases. Manufacturers are concentrating on reducing operational costs through efficient power supply with the use of power factor correction devices for efficient and cost-effective production.
“Increasing Usage of Energy Efficiency and Power Saving Devices Across End Use Industries to Push Power Factor Correction Device Sales”
Demand from end-use industries such as manufacturing industries, heavy industries, and the commercial sector is expanding due to the exploding population. The goal of manufacturers is to reduce operating expenses associated with wasted energy and effectively satisfy power demand. In order to achieve this, they use power factor correction devices.
The demand for energy-saving equipment, such as power factor correction devices, is also increasing as a result of domestic government policies and regulations on energy.
Installation of PFC devices in manufacturing facilities is anticipated to improve power quality by ensuring efficient power use, lowering capital expenditures, and increasing the facilities' economic viability. These devices offer continuous delivery of uninterrupted power, eliminate excess reactive power charges, and thus helps in voltage optimization. This enables efficient power transmission to various industrial equipment.
“Growth in Electricity Sector Boosting Demand for Power Factor Correction Devices in the U.S”
In the United States, utility-scale energy producing facilities produced about 4,116 billion kWh of power in 2021. Coal, natural gas, petroleum, and other gases accounted for approximately 61% of the fuel used to generate this power.
According to the U.S. Energy Information Administration, small-scale solar photovoltaic systems generated an additional 49 billion kWh of electricity in 2021. The expansion of power producing operations in the U.S. has had an impact on the market growth.
The study projects that the U.S. power factor correction devices market will surpass revenues worth US$ 1,296.5 Mn by the end of 2032.
“Growth in Industrial Sector Triggering Power Factor Correction Devices Sales in China”
China is expected to emerge as the leading market for power factor correction devices in East Asia by the end of 2032. FMI predicts the power factor correction devices market in China to grow at a 6.0% CAGR during the forecast period.
According to CIEC data, China's industrial production rose at 3.9 % Y-o-Y growth rate in June 2022. Over the projected period, the rising industrial sector is expected to make this country as an emerging market for the power factor correction devices.
Similarly, growing popularity of power conditioning devices and power quality devices will bode well for power factor correction devices market growth in the country over the next ten years.
“Growing Automotive Industry Creating Demand for PFC Devices in India”
From 2022 to 2032, power factor correction devices market in India is estimated to grow at the highest CAGR of 7.5%. Demand for power factor correction devices in the country is rising due to the constant production of automobiles.
As the automotive industry needs a steady supply of power, manufacturers employ power factor correction devices in the systems. This helps them to get a constant power supply during automotive manufacturing processes and reduce energy costs.
India is one of the leading countries in the world in terms of vehicle production. In the financial year 2022, the total production volume of vehicles in India was around 22.9 million units. Thus, the increase in automobile production impacts the growth of power factor correction devices.
“Distributed Power Factor Correction Device to Hold the Prominent Market Share”
The distributed power factor correction device is projected to increase at a CAGR of 4.9% in terms of value from 2022 to 2032. This kind of power factor correction device is recommended for heavy loads that are connected to the system for an extended period of time.
Fluorescent lamps and induction motors are common applications for distributed power factor correction devices. As per FMI, distributed power factor correction device segment is projected to create an absolute $ opportunity of US$ 1,296.5 Mn between 2022 and 2032.
“Industrial Sector Holds the Predominant Share in the Global Power Factor Correction Market”
Industrial sector is projected to create an absolute $ opportunity of US$ 4,445.1 Mn between 2022 and 2032. Industries such as mining, power generation, medical and healthcare, automotive, and electronics use power factor correction devices for reliable and effective power supply. This also helps them to increase cost effectiveness and decrease power consumption.
Similarly, increasing need for voltage optimization across industries and rising adoption of power quality devices will trigger growth of this segment during the forthcoming years.
Leading power factor correction devices market players are focusing on developing and extending production technologies and expansion capacities to meet the industry demands, which help to reduce environmental impact and comply with stringent government regulations. In addition, key players are focusing on expanding and planning to establish new and innovative ways of production facilities across the world.
For instance, in 2022, Power Integrations unveiled the HiperPFS-5 family of power factor correction (PFC) ICs with integrated 750 V PowiGaN gallium-nitride switch.
“Schneider Electric, ABB , and Eaton Corp. Will Continue to Remain at the Top of the Ladder”
The ultimate search for energy saving devices with compact size and inexpensive nature has been a prime motive of numerous companies dealing with electrical and electronic products. These companies have been investing huge sums in the development of energy efficient devices that could help industries to get a constant supply of electricity while at the same time reducing energy bills. One such invention has been power factor correction device.
Since their introduction, power factor correction devices have effectively solved the mystery of achieving energy efficiency and power saving across various sectors. Although the power factor correction devices space is highly competitive in nature, it is mainly dominated by players like Schneider Electric, ABB, and Eaton Corp.
Schneider Electric offers wide range of energy management and automation digital solutions for efficiency and sustainability. Its products such as PowerLogic PFC Capacitors and EasyLogic PFC Capacitors have become quite popular across industrial and commercial sectors. These devices are specially designed to contribute to power quality and power factor mitigation.
The company has been continuously striving towards achieving sustainability targets. For instance, Schneider’s Sustainability Impact (SSI) scored 4.17 out of ten, relative to its 4.70 year-end target, as per the results of the company’s sustainable impact program for the second quarter of 2022.
ABB provides utility, industrial, and commercial customers with safe, smart and sustainable technologies for distribution of electricity. It recently launched the next generation RVC power factor controller featuring simple and intuitive design that provides an enhanced user experience for control and monitoring
Another company that is leading at the forefront in power factor correction devices space is Eaton Corporation. The company recorded sales of around US$ 5.2 billion in the second quarter of 2022. Its line of power factor correction products feature technology that is compatible with a variety of voltage applications to meet the needs of every industry.
During last few years, the company has made various moves to improve its revenues as well as to expand its global footprint. For instance, in July 2022, it (Eaton Corp.) acquired 50% stake in Jiangsu Huineng Electric Co., Ltd.’s circuit breaker business.
|
Attribute |
Details |
|
Estimated Market Size (2022) |
US$ 6, 025.9 Mn |
|
Projected Market Size (2032) |
US$ 10, 471.0 Mn |
|
Anticipated Growth Rate (2022-2032) |
5.7% CAGR |
|
Forecast Period |
2022-2032 |
|
Historical Data Available for |
2017-2021 |
|
Market Analysis |
US$ Million for Value |
|
Key Regions Covered |
North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East & Africa |
|
Key Countries Covered |
U.S., Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Nordics, Russia, China , Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Northern Africa, South AFRICA, Turkey |
|
Key Market Segments Covered |
Type, End Use, and Region |
|
Key Companies Profiled |
|
|
Report Coverage |
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
5. Global Power Factor Correction Devices Market Demand Analysis 2017-2021 and Forecast, 2022-2032
5.1. Historical Market Volume (Units) Analysis, 2017-2021
5.2. Current and Future Market Volume (Units) Projections, 2022-2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Power Factor Correction Devices Market - Pricing Analysis
6.1. Regional Pricing Analysis by End Use
6.2. Global Average Pricing Analysis Benchmark
7. Global Power Factor Correction Devices Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032
7.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Real GDP Growth
8.1.2. Industry Value Added
8.1.3. Manufacturing Industry Value Added
8.1.4. Leading Mining Countries Worldwide in 2019
8.1.5. Primary Energy Consumption by World Region
8.1.6. Russia-Ukraine Conflict Impact
8.1.7. Growth of Pharmaceutical and Healthcare Sectors
8.2. Forecast Factors - Relevance & Impact
8.2.1. GDP Growth
8.2.2. Manufacturing Industry Value Added
8.2.3. Urbanization Rate
8.2.4. Industry 4.0 and Penetration of automation by Industry
8.2.5. Mining Industry Growth
8.2.6. Government Policies
8.2.7. R&D Spending
8.2.8. Per Capita Income Growth
8.2.9. Government Policies
8.3. Value Chain
8.3.1. List of Manufacturers
8.4. COVID-19 Crisis – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. National Electrical Manufacturers Association Standards
9. Global Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis by Type, 2017-2021
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Type, 2022-2032
9.3.1. Distributed Power Factor Correction Device
9.3.2. Group Power Factor Correction Device
9.3.3. Centralized Power Factor Correction Device
9.3.4. Combined Power Factor Correction Device
9.3.5. Automatic Power Factor Correction Device
9.4. Market Attractiveness Analysis by Type
10. Global Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032, By End Use
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis by End Use, 2017-2021
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by End Use, 2022-2032
10.3.1. Industrial
10.3.1.1. Mining Industry
10.3.1.2. Power Generation
10.3.1.3. Medical and Healthcare Industry
10.3.1.4. Automotive Industry
10.3.1.5. Electronics Industry
10.3.1.6. Other Industries
10.3.2. Commercial
10.4. Market Attractiveness Analysis by End Use
11. Global Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032, by Region
11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume Analysis by Region, 2017-2021
11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast by Region, 2022-2032
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. East Asia
11.3.5. South Asia and the Pacific
11.3.6. The Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis by Region
12. North America Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
12.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
12.3.1. By Country
12.3.1.1. U.S.
12.3.1.2. Canada
12.3.2. By Type
12.3.3. By End Use
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Type
12.4.3. By End Use
13. Latin America Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
13.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
13.3.1. By Country
13.3.1.1. Brazil
13.3.1.2. Mexico
13.3.1.3. Rest of Latin America
13.3.2. By Type
13.3.3. By End Use
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Type
13.4.3. By End Use
14. Europe Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
14.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
14.3.1. By Country
14.3.1.1. Germany
14.3.1.2. Italy
14.3.1.3. France
14.3.1.4. The U.K.
14.3.1.5. Spain
14.3.1.6. Nordic
14.3.1.7. Russia
14.3.1.8. Rest of Europe
14.3.2. By Type
14.3.3. By End Use
14.4. Market Attractiveness Analysis
14.4.1. By Type
14.4.2. By End Use
15. East Asia Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
15.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
15.3.1. By Country
15.3.1.1. China
15.3.1.2. Japan
15.3.1.3. South Korea
15.3.2. By Type
15.3.3. By End Use
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Type
15.4.3. By End Use
16. South Asia and Pacific Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
16.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
16.3.1. By Country
16.3.1.1. India
16.3.1.2. ASEAN
16.3.1.3. ANZ
16.3.1.4. Rest of South Asia & Pacific
16.3.2. By Type
16.3.3. By End Use
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Type
16.4.3. By End Use
17. The Middle East and Africa Power Factor Correction Devices Market Analysis 2017-2021 and Forecast 2022-2032
17.1. Introduction
17.2. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2017-2021
17.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022-2032
17.3.1. By Country
17.3.1.1. GCC Countries
17.3.1.2. Turkey
17.3.1.3. Northern Africa
17.3.1.4. South Africa
17.3.1.5. Rest of the Middle East and Africa
17.3.2. By Type
17.3.3. By End Use
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Type
17.4.3. By End Use
18. Emerging Countries Power Factor Correction Devices Market Analysis
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. U.S. Power Factor Correction Devices Market Analysis
18.2.1. By Type
18.2.2. By End Use
18.3. Canada Power Factor Correction Devices Market Analysis
18.3.1. By Type
18.3.2. By End Use
18.4. Mexico Power Factor Correction Devices Market Analysis
18.4.1. By Type
18.4.2. By End Use
18.5. Brazil Power Factor Correction Devices Market Analysis
18.5.1. By Type
18.5.2. By End Use
18.6. Germany Power Factor Correction Devices Market Analysis
18.6.1. By Type
18.6.2. By End Use
18.7. Italy Power Factor Correction Devices Market Analysis
18.7.1. By Type
18.7.2. By End Use
18.8. France Power Factor Correction Devices Market Analysis
18.8.1. By Type
18.8.2. By End Use
18.9. U.K. Power Factor Correction Devices Market Analysis
18.9.1. By Type
18.9.2. By End Use
18.10. Spain Power Factor Correction Devices Market Analysis
18.10.1. By Type
18.10.2. By End Use
18.11. BENELUX Power Factor Correction Devices Market Analysis
18.11.1. By Type
18.11.2. By End Use
18.12. Russia Power Factor Correction Devices Market Analysis
18.12.1. By Type
18.12.2. By End Use
18.13. China Power Factor Correction Devices Market Analysis
18.13.1. By Type
18.13.2. By End Use
18.14. Japan Power Factor Correction Devices Market Analysis
18.14.1. By Type
18.14.2. By End Use
18.15. S. Korea Power Factor Correction Devices Market Analysis
18.15.1. By Type
18.15.2. By End Use
18.16. India Power Factor Correction Devices Market Analysis
18.16.1. By Type
18.16.2. By End Use
18.17. ASEAN Power Factor Correction Devices Market Analysis
18.17.1. By Type
18.17.2. By End Use
18.18. Australia and New Zealand Power Factor Correction Devices Market Analysis
18.18.1. By Type
18.18.2. By End Use
18.19. GCC Countries Power Factor Correction Devices Market Analysis
18.19.1. By Type
18.19.2. By End Use
18.20. Turkey Power Factor Correction Devices Market Analysis
18.20.1. By Type
18.20.2. By End Use
18.21. Northern Africa Power Factor Correction Devices Market Analysis
18.21.1. By Type
18.21.2. By End Use
18.22. South Africa Power Factor Correction Devices Market Analysis
18.22.1. By Type
18.22.2. By End Use
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies (Power Factor Correction Devices)
19.2. Market Share Analysis of Top Players
19.3. Market Presence Analysis
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
20.3.1. Schneider Electric SE
20.3.1.1. Overview
20.3.1.2. Product Portfolio
20.3.1.3. Key Financials by Market Segments (Product/Region)
20.3.1.4. Sales Footprint
20.3.1.5. Strategy Overview
20.3.2. GE’s Grid Solutions
20.3.2.1. Overview
20.3.2.2. Product Portfolio
20.3.2.3. Key Financials by Market Segments (Product/Region)
20.3.2.4. Sales Footprint
20.3.2.5. Strategy Overview
20.3.3. TOSHIBA CORPORATION
20.3.3.1. Overview
20.3.3.2. Product Portfolio
20.3.3.3. Key Financials by Market Segments (Product/Region)
20.3.3.4. Sales Footprint
20.3.3.5. Strategy Overview
20.3.4. ABB Limited
20.3.4.1. Overview
20.3.4.2. Product Portfolio
20.3.4.3. Key Financials by Market Segments (Product/Region)
20.3.4.4. Sales Footprint
20.3.4.5. Strategy Overview
20.3.5. Eaton Corp.
20.3.5.1. Overview
20.3.5.2. Product Portfolio
20.3.5.3. Key Financials by Market Segments (Product/Region)
20.3.5.4. Sales Footprint
20.3.5.5. Strategy Overview
20.3.6. Hubbell Incorporated
20.3.6.1. Overview
20.3.6.2. Product Portfolio
20.3.6.3. Key Financials by Market Segments (Product/Region)
20.3.6.4. Sales Footprint
20.3.6.5. Strategy Overview
20.3.7. Siemens AG
20.3.7.1. Overview
20.3.7.2. Product Portfolio
20.3.7.3. Key Financials by Market Segments (Product/Region)
20.3.7.4. Sales Footprint
20.3.7.5. Strategy Overview
20.3.8. MITSUBISHI HEAVY INDUSTRIES, LTD.
20.3.8.1. Overview
20.3.8.2. Product Portfolio
20.3.8.3. Key Financials by Market Segments (Product/Region)
20.3.8.4. Sales Footprint
20.3.8.5. Strategy Overview
20.3.9. LARSEN & TOUBRO LIMITED
20.3.9.1. Overview
20.3.9.2. Product Portfolio
20.3.9.3. Key Financials by Market Segments (Product/Region)
20.3.9.4. Sales Footprint
20.3.9.5. Strategy Overview
20.3.10. TE Connectivity
20.3.10.1. Overview
20.3.10.2. Product Portfolio
20.3.10.3. Key Financials by Market Segments (Product/Region)
20.3.10.4. Sales Footprint
20.3.10.5. Strategy Overview
21. Assumptions and Acronyms Used
22. Research Methodology
Table 01: Global Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 02: Global Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 03: Global Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Region, 2017 – 2032
Table 04: North America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 05: North America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 06: North America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 07: Latin America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 08: Latin America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 09: Latin America Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 10: Europe Power Factor Correction Devices Market Volume (Units) Forecast by Country, 2017 – 2032
Table 11: Europe Power Factor Correction Devices Market Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 12: Europe Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 13: Europe Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 14: East Asia Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 15: East Asia Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 16: East Asia Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 17: South Asia & Pacific Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 18: South Asia & Pacific Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 19: South Asia & Pacific Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Table 20: Middle East & Africa Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Country, 2017 – 2032
Table 21: Middle East & Africa Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by Type, 2017 – 2032
Table 22: Middle East & Africa Power Factor Correction Devices Market Volume (Units) and Value (US$ Mn) Forecast by End Use, 2017 – 2032
Figure 01: Global Power Factor Correction Devices Market Historical Demand, 2017-2021
Figure 02: Global Power Factor Correction Devices Market Demand Forecast, 2022-2032
Figure 03: Global Power Factor Correction Devices Market Historical Value (US$ Mn), 2017-2021
Figure 04: Global Power Factor Correction Devices Market Value (US$ Mn) Forecast, 2022-2032
Figure 05: Global Power Factor Correction Devices Market Absolute $ Opportunity, 2022-2032
Figure 06: Global Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 07: Global Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 08: Global Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 09: Global Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 10: Global Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 11: Global Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 12: Global Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 13: Global Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 14: Global Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 15: Global Power Factor Correction Devices Market Share and BPS Analysis by Region- 2022-2032
Figure 16: Global Power Factor Correction Devices Market Y-o-Y Growth Projections by Region, 2021-2032
Figure 17: Global Power Factor Correction Devices Market Attractiveness by Region, 2022-2032
Figure 18: North America Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 19: North America Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 20: North America Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 21: North America Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 22: North America Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 23: North America Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 24: North America Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 25: North America Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 26: North America Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 27: North America Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 28: North America Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 29: North America Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 30: Latin America Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 31: Latin America Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 32: Latin America Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 33: Latin America Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 34: Latin America Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 35: Latin America Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 36: Latin America Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 37: Latin America Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 38: Latin America Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 39: Latin America Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 40: Latin America Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 41: Latin America Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 42: Europe Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 43: Europe Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 44: Europe Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 45: Europe Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 46: Europe Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 47: Europe Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 48: Europe Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 49: Europe Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 50: Europe Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 51: Europe Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 52: Europe Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 53: Europe Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 54: East Asia Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 55: East Asia Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 56: East Asia Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 57: East Asia Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 58: East Asia Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 59: East Asia Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 60: East Asia Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 61: East Asia Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 62: East Asia Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 63: East Asia Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 64: East Asia Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 65: East Asia Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 66: South Asia & Pacific Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 67: South Asia & Pacific Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 68: South Asia & Pacific Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 69: South Asia & Pacific Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 70: South Asia & Pacific Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 71: South Asia & Pacific Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 72: South Asia & Pacific Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 73: South Asia & Pacific Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 74: South Asia & Pacific Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 75: South Asia & Pacific Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 76: South Asia & Pacific Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 77: South Asia & Pacific Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
Figure 78: Middle East & Africa Power Factor Correction Devices Market Share and BPS Analysis by Country - 2022-2032
Figure 79: Middle East & Africa Power Factor Correction Devices Market Y-o-Y Growth Projections by Country, 2021-2032
Figure 80: Middle East & Africa Power Factor Correction Devices Market Attractiveness by Country, 2022-2032
Figure 81: Middle East & Africa Power Factor Correction Devices Market Share and BPS Analysis by Type, 2022 & 2032
Figure 82: Middle East & Africa Power Factor Correction Devices Market Y-o-Y Growth Projection by Type, 2021-2032
Figure 83: Middle East & Africa Power Factor Correction Devices Market Attractiveness Analysis by Type, 2022-2032
Figure 84: Middle East & Africa Power Factor Correction Devices Market Share and BPS Analysis by End Use, 2022 & 2032
Figure 85: Middle East & Africa Power Factor Correction Devices Market Y-o-Y Growth Projection by End Use, 2021-2032
Figure 86: Middle East & Africa Power Factor Correction Devices Market Attractiveness Analysis by End Use, 2022-2032
Figure 87: Middle East & Africa Power Factor Correction Devices Market Share and BPS Analysis by Industrial End Use, 2022 & 2032
Figure 88: Middle East & Africa Power Factor Correction Devices Market Y-o-Y Growth Projection by Industrial End Use, 2021-2032
Figure 89: Middle East & Africa Power Factor Correction Devices Market Attractiveness Analysis by Industrial End Use, 2022-2032
The global power factor correction devices market is expected to total US$ 6,025.9 Mn in 2022.
The demand for power factor correction devices is set to increase at a CAGR of 5.7% during the forecast period from 2022 to 2032.
Schneider Electric, ABB, Eaton Corp., Toshiba Corporation, Hubbell, Siemens AG and others are the leading players in power factor correction devices market, collectively accounting for 30% to 35% share.
The demand for power factor correction devices in China is expected to increase by 6.0% CAGR from 2022 to 2032 on a value basis.
The U.S., China, and India, are the key consumers of power factor correction devices.
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Power Factor Correction Devices Market
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