Automatic Power Factor Controller Market Size to Grow by $ 672.30 mn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the automatic power factor controller market and it is expected to grow by $ 672.30 Million, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
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Automatic Power Factor Controller Market: Emerging Trends to Impact Market Growth
The upgradation of industrial facilities in a bid to improve energy efficiency will drive market growth. APAC has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors. The use of software to analyze suitable power factor requirements will facilitate the automatic power factor controller market growth in APAC over the forecast period. Growth by the active power factor controller segment has been significant and is expected to offer sustained growth during the forecast period. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Automatic Power Factor Controller Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Eaton Corporation Plc, General Electric Co., Havells India Ltd., Hitachi ABB Power Grids, Mitsubishi Electric Corp., ON Semiconductor Corp., Schneider Electric SE, STMicroelectronics NV, Texas Instruments Inc., and WEG Equipamentos Eletricos SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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