The global shunt capacitor market size was valued at USD 135.9 million in 2020 and is anticipated to register a substantial CAGR of 6.72% during the forecast period, 2021–2028. Growth of the market is attributed to increasing demand of shunt capacitors for its use in applications such as distribution and transmission utilities, power generation, smart-grids renewable energy, transport & infrastructure, and industrial.

The shunt capacitor is an electrical device primarily used in power system and provides load line. It is used to improve the quality of electrical supply by releasing the power supply capacity, improving voltage profile, and brace reactive power to provide correct power factor. Factors such as increasing demand for reliable and efficient power supply, tool for long lasting and feasible policies, and exposure of new technologies are driving the market. Furthermore, rise in the demand for power grids is boosting the global shunt capacitor market.
Rising environment concerns and initiatives by various governments across the world are expected to increase investments in the renewable energy during the forecast period. This spike of power grid utilization is anticipated to expand the demand for shunt capacitors during the forecast period.
The Covid-19 out-break had an adverse impact on the shunt capacitor market. Due to lack of investors the market was already at halt, the pandemic lead to reduction in sales value, product transfers, and manufacturing. The market suffered huge loss; however the government’s steps and strategies have helped to neutralize the situation.
Market Trends, Drivers, Restraints, and Opportunities
- Rising population and growing urbanization have increased the demand for telecommunication, power generation, infrastructure, and transportation, which is expected to drive the shunt capacitor market during the forecast period.
- Rising investments for the development of railways and other transportation systems and growing residential and commercial construction are anticipated to boost the market during the forecast period.
- Factors such as easy and quick installation, availability, and efficient price are driving the market.
- Unfavorable production and supply during the Covid-19 situation hampered the market growth.
- Fluctuation of raw materials and high investment cost act as a barrier for market growth.
Scope of the Report
The report on the global shunt capacitor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Shunt Capacitor Market-Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Category (Low Voltage, Medium Voltage and High Voltage) and Applications (Utilities, Industries, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ABB Ltd, Siemens AG, General Electric Company, Eaton Corporation Plc, Larsen & Toubro Ltd, Magnewin Energy Pvt. Ltd, Motif Electric Limited, Globe Capacitors Ltd, TDK Electronics AG, and Schneider Electric SE.
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Market Segment insights
The high voltage shunt capacitor segment to expand at a high CAGR
Based on category, the global shunt capacitor market is segregated into low voltage, medium voltage, and high voltage. The high voltage segment held more than 63.47% share in 2018. High voltage capacitors are used in several industries because of the reliability and performance. The medium voltage segment is anticipated to expand at a rapid pace during the forecast period due to its accessibility and foremost utilization of power.

The utility segment to expand at a rapid pace during the forecast period
Based on applications, the shunt capacitor market is divided into utilities, industries, and others. The utility segment held more than 50% share in 2020. The rapid growth of this segment is attributed to utilization and distribution of voltage. It prevents damage of expensive equipments with the help of shunt capacitors.
The market in Asia Pacific is estimated to expand at a robust CAGR
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific holds the maximum share of the shunt capacitor market in terms of revenue, demand, and consumption. This is attributed to the improvement in lifestyle and growing population. The market in Europe is anticipated to expand at a rapid rate during the forecast period, as growing investment in the power generation and renewable energy; thus, leading to boost the market in near future.

Segments
Segments Covered in the Report
The Global shunt capacitor market has been segmented on the basis of:-
Category
- Low Voltage
- Medium Voltage
- High Voltage
Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
- ABB Ltd.
- Siemens AG
- General Electric Company
- Eaton Corporation Plc
- Larsen & Toubro Ltd
- Magnewin Energy Pvt. Ltd.
- Motif Electric Limited
- Globe Capacitors Ltd
- TDK Electronics AG
- Schneider Electric SE
Competitive Landscape
Key players in the global shunt capacitor market include ABB Ltd, Siemens AG, General Electric Company, Eaton Corporation Plc, Larsen & Toubro Ltd, Magnewin Energy Pvt. Ltd, Motif Electric Limited, Globe Capacitors Ltd, TDK Electronics AG, and Schneider Electric SE.
Key players operating in the shunt capacitor market are investing to increase their distribution networks and product portfolios. They have adopted strategies such as development of new products, joint ventures, mergers, and acquisitions and expansions to meet the rising demand for shunt capacitors around the globe.
