Automatic Power Factor Controller Market | 2031
Automatic Power Factor Controller Market | 2031
Segments - Automatic Power Factor Controller Market by Type (Active APFCs and Passive APFCs), Component (Displays, Relays, Resistors, Microcontrollers, Switches, and Capacitors), Installation Type (Wall-mounted APFC Panels and Self-standing APFC Panels), End-user (Enterprise, Utility, Commercial, Manufacturing, and Military), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-6189
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Report Description
Automatic Power Factor Controller Market Outlook 2031
The global automatic power factor controller market size was USD 5.0 Billion in 2022 and is likely to reach USD 7.8 Billion by 2031, expanding at a CAGR of 4.6% during 2023–2031. The market growth is attributed to the rising demand for automatic power factor controllers to stabilize power consumption in various industries.
The demand for automatic power stabilization and correction is expected to bolster the automatic power factor controller market. An automatic power factor controller (APFC) isa device that adjusts the power in electrical systems. Enhanced power factor helps to reduce energy losses, which further helps to save costs. Thus, companies are heavily deploying APFC systems to reduce electricity bills.
Businesses are majorly adopting APFC systems to maintain sustainability initiatives. Moreover, technological advancements in the APFC technologies make it more efficient and easier to integrate into the electrical systems, thereby creating immense possibilities for the growth of the market.
The market report finds that the COVID-19 pandemic severely affected the market, as many construction projects were delayed, due to emergency lockdown and several restrictions.This decreased the installation of new electric systems. Moreover, the pandemic disrupted the supply chain, which affected the distribution of electric components, including APFC systems, thus hampering the market.
Impact of Artificial Intelligence on the Automatic Power Factor Controller Market
Artificial Intelligence has a significant impact on the market. The power factor correction of electricity is amajor concern occurring in every industry, which was previously done manually; however, it is now easy to automate power factor correction, with the emergence of AI voice operators. Machine learning and artificial intelligence play an important role in automating the correction of power factors. For instance,
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Alexa helps to decrease the time taken for power factor correction. Smart home technologies, including Alexa, contribute to energy efficiency by allowing users to control devices remotely. This helps users improve overall efficiency.
Automatic Power Factor Controller Market Dynamics
Major Drivers
Growing awareness of power factor correction among businesses is expected to drive the market. Maintaining the power factor reduces energy costs. However, improved power factor contributes to the overall power efficiency. Furthermore, growing environmental concerns have encouraged businesses to adopt APFS systems to reduce energy consumption, which further decreases energy costs, thereby boosting the market.
Rising deployment of the APFC system to reduce carbon footprint is expected to drive the market during the forecast period. The deployment of APFC systems by businesses decreases significant energy loss, which further helps to decrease carbon emissions and protect the environment.
Existing Restraints
High costs associated with the APFC system are expected to restrain the market. Automatic power factor controllers required additional equipment, such as capacitors or reactors, which increases the overall cost of the electrical system. Furthermore, APFC systems require regular maintenance, which further increases investments, thus restraining the market.
Emerging Opportunities
Increasing R&D activities and technological advancements are expected to create lucrative opportunities for the market players. Technological advancements in automatic power factor controllers influenced businesses to adopt efficient controllers. Smart APFC systems with advanced monitoring offer real-time insights, which leads to significant energy savings. Moreover, key players are launching new solutions in the market to cater to specific requirements, thereby propelling the market. For instance,
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In July 2023, HCLTech, a leading global technology company, collaborated with Schneider Electric, a frontrunner in the digital transformation of energy management and industrial automation, to develop carbon-efficient solutions for data centers in the Asia Pacific (APAC). The collaboration aims at managing data center energy consumption with the growing digital economy.
Scope of the Automatic Power Factor Controller Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Automatic Power Factor Controller Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Active APFCs and Passive APFCs),Component (Displays, Relays, Resistors, Microcontrollers, Switches, and Capacitors),Installation Type (Wall-mounted APFC Panels and Self-standing APFC Panels), and End-user (Enterprise, Utility, Commercial, Manufacturing, and Military) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, MarketTrends, and Revenue Forecast |
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Key Players Covered in the Report |
Siemens; AVEVA Group Limited; General Electric; TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION;Schneider Electric; ABB; IBM; STMicroelectronics; Robert Bosch GmbH; Oracle; Navitas Semiconductor; TA Instruments; Eaton; and Emerson Electric Co. |
Market Segment Insights
Type Segment Analysis
Based on type, the automatic power factor controller market is bifurcated into active APFCs and passive APFCs. The active APFCs segment is projected to expand at a significant growth rate during the projection period,as active APFCs are comparatively smaller and has the ability to operateat a higher frequency than 50Hz/60Hz line frequency.
Active APFCs are widely usedin electronic circuits containing devices, such as BJTs, IGBTs, and MOSFETs. Power supply devices are able to create integrated circuits with different modes of active APFCs. Moreover, rising product launches by key players to cater to the overall growing demand are expected to drive the market.
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For instance, in September 2021, MORNSUN launched the 240W AC/DC DIN-rail converter LIF240-10BxxR2 series to meet the demand for active PFC function in applications.
The passive APFCs segment is expected to register considerable growth during the forecast period. Passive APFC is a reliable option, as it uses harmonic filters at AC input to change poor power factors. It is a convenient power supply option, owing to its low cost. These APFCs are durable and require low maintenance, thereby boosting their adoption in industrial settings.
Component Segment Analysis
On the basis of component, the global market is segregated into displays, relays, resistors, microcontrollers, switches, and capacitors. The capacitors segment is expected to hold a large market share during the forecast period. Capacitors are reactive devices that help to generate reactive power. Thus,they are widely used in electric systems.The capacitor is the main component used in the power factor correction. They further reduce energy costs.
Power capacitors are further used in renewable energy systems, as they ensure the reliability and stability of power supply. Furthermore, several companies are launching capacitors for renewable energy applications, which contributes to the segmental growth.
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For instance, in September 2022, GODI India, a lithium-ion cell manufacturer, launched India’s first-ever 3000F high-power super capacitor for electric vehicle (EV) and renewable energy storage system (ESS) applications.Integration of this super capacitor with battery packs improves the battery life in EVs and ESS.
Installation Type Segment Analysis
Based on installation type, the automatic power factor controller market is segmented into wall-mounted APFC panels and self-standing APFC panels. The self-standing APFC panels segment is expected to register a robust growth rate during the forecast period. The self-standing APFC panels are easy to install and provide plug-and-play functionalities.
These panels offer a simplified experience in power correction in electrical systems without the need to modify them. They are designed to be compact and standalone, and requireless space to fit in an electrical room,making them suitable for places with limited space, which is expected to boost the segment during the forecast period.
End-user Segment Analysis
On the basis of end-user, the market is categorized into enterprise, utility, commercial, manufacturing, and military. The utility sector dominated the market in 2022 and is expected to hold a major share of the market during the forecast period. An automatic power factor controller boosts energy by reducing the reactive power. It limits energy loss in the distribution system, allowing utilities to provide more reliable and cost-effective services.
Stabilizing power becomes a challenging factor in renewable energy sources, such as wind turbines and solar panels. However, automatic power factor controllers help stabilize power fluctuations in renewable energy sources, thereby boosting the segment.
Regional Analysis
In terms of region, the global automatic power factor controller market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the presence of major market players in the region.
Growing focus on energy efficiency and strict government regulations for power quality are expected to boost the market in the region. Moreover, increasing R & D activities for product launches and the development of advanced industrial infrastructure in the region boosts the regional market.,
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For instance, in July 2022, Schneider Electric, the global specialist in energy management and automation, announced the expansion of its IoT-connected PowerLogic PFC low-voltage capacitor solutions to markets in North America. The IoT-connected Power Logic PFC low voltage capacitor is designed to boost power management applications by responding to power factors to ensure a high-performing power network.
Segments
The automatic power factor controller market has been segmented on the basis of
Type
- Active APFCs
- Passive APFCs
Component
- Displays
- Relays
- Resistors
- Microcontrollers
- Switches
- Capacitors
Installation Type
- Wall-mounted APFC Panels
- Self-standing APFC Panels
End-User
- Enterprise
- Utility
- Commercial
- Manufacturing
- Military
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Siemens
- AVEVA Group Limited
- General Electric
- TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
- Schneider Electric
- ABB
- IBM
- STMicroelectronics
- Robert Bosch GmbH
- Oracle
- Navitas Semiconductor
- TA Instruments.
- Eaton.
- Emerson Electric Co.
Competitive Landscape
Key players competing in the global automatic power factor controller market are Siemens; AVEVA Group Limited; General Electric; TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION; Schneider Electric; ABB; IBM; STMicroelectronics; Robert Bosch GmbH; Oracle; Navitas Semiconductor; TA Instruments; Eaton; and Emerson Electric Co.
These companies adopted development strategies, including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion, to expand their consumer base worldwide.
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For instance, in March 2023, Toshiba Electronics launched a new 650V IGBT for power factor correction (PFC) circuits in air conditioners, home appliances, and power supplies for industrial equipment.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Automatic Power Factor Controller Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Automatic Power Factor Controller Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Automatic Power Factor Controller Market - Supply Chain
4.5. Global Automatic Power Factor Controller Market Forecast
4.5.1. Automatic Power Factor Controller Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Automatic Power Factor Controller Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Automatic Power Factor Controller Market Absolute $ Opportunity
5. Global Automatic Power Factor Controller Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Automatic Power Factor Controller Market Size and Volume Forecast by Types
5.3.1. Active APFCs
5.3.2. Passive APFCs
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Automatic Power Factor Controller Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Automatic Power Factor Controller Market Size and Volume Forecast by End Users
6.3.1. Enterprise
6.3.2. Utility
6.3.3. Commercial
6.3.4. Manufacturing
6.3.5. Military
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Automatic Power Factor Controller Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Automatic Power Factor Controller Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Automatic Power Factor Controller Demand Share Forecast, 2019-2026
8. North America Automatic Power Factor Controller Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Automatic Power Factor Controller Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Automatic Power Factor Controller Market Size and Volume Forecast by Types
8.4.1. Active APFCs
8.4.2. Passive APFCs
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Automatic Power Factor Controller Market Size and Volume Forecast by End Users
8.7.1. Enterprise
8.7.2. Utility
8.7.3. Commercial
8.7.4. Manufacturing
8.7.5. Military
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Automatic Power Factor Controller Demand Share Forecast, 2019-2026
9. Latin America Automatic Power Factor Controller Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Automatic Power Factor Controller Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Automatic Power Factor Controller Market Size and Volume Forecast by Types
9.4.1. Active APFCs
9.4.2. Passive APFCs
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Automatic Power Factor Controller Market Size and Volume Forecast by End Users
9.7.1. Enterprise
9.7.2. Utility
9.7.3. Commercial
9.7.4. Manufacturing
9.7.5. Military
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Automatic Power Factor Controller Demand Share Forecast, 2019-2026
10. Europe Automatic Power Factor Controller Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Automatic Power Factor Controller Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Automatic Power Factor Controller Market Size and Volume Forecast by Types
10.4.1. Active APFCs
10.4.2. Passive APFCs
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Automatic Power Factor Controller Market Size and Volume Forecast by End Users
10.7.1. Enterprise
10.7.2. Utility
10.7.3. Commercial
10.7.4. Manufacturing
10.7.5. Military
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Automatic Power Factor Controller Demand Share Forecast, 2019-2026
11. Asia Pacific Automatic Power Factor Controller Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Automatic Power Factor Controller Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Automatic Power Factor Controller Market Size and Volume Forecast by Types
11.4.1. Active APFCs
11.4.2. Passive APFCs
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Automatic Power Factor Controller Market Size and Volume Forecast by End Users
11.7.1. Enterprise
11.7.2. Utility
11.7.3. Commercial
11.7.4. Manufacturing
11.7.5. Military
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Automatic Power Factor Controller Demand Share Forecast, 2019-2026
12. Middle East & Africa Automatic Power Factor Controller Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Automatic Power Factor Controller Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Automatic Power Factor Controller Market Size and Volume Forecast by Types
12.4.1. Active APFCs
12.4.2. Passive APFCs
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Automatic Power Factor Controller Market Size and Volume Forecast by End Users
12.7.1. Enterprise
12.7.2. Utility
12.7.3. Commercial
12.7.4. Manufacturing
12.7.5. Military
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Automatic Power Factor Controller Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Automatic Power Factor Controller Market: Market Share Analysis
13.2. Automatic Power Factor Controller Distributors and Customers
13.3. Automatic Power Factor Controller Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Siemens
13.4.2. AVEVA Group Limited
13.4.3. General Electric
13.4.4. TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION
13.4.5. Schneider Electric
13.4.6. ABB
13.4.7. IBM
13.4.8. STMicroelectronics
13.4.9. Robert Bosch GmbH
13.4.10. Oracle
13.4.11. Navitas Semiconductor
13.4.12. TA Instruments.
13.4.13. Eaton.
13.4.14. Emerson Electric Co.
Methodology
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