Automatic Power Factor Controller Market - Forecasts from 2024 to 2029

The Automatic power factor controller market is evaluated at US$3.166 billion for the year 2022 and is projected to grow at a CAGR of 5.32% to reach a market size of US$4.559 billion by the year 2029.

An automated power factor controller is a device that is designed to enhance output power automatically when the power factor falls below a specific threshold. Electricity demand is continually increasing. In addition, the demand for a system to automatically enhance the power factor is growing, as low power factor places undue strain on power grids and transmission lines. Automatic power factor controllers can meet this demand.

Automatic power factor controllers are likely to be in high demand in the near future, with existing companies expected to increase market share during the forecast period. Owing to its capacity to drastically minimize energy loss, the automated power factor market is rising as the worldwide focus on minimizing energy usage grows.

MARKET TRENDS:

The increasing need for energy conservation in-home utilities and industries to reduce power loss, as well as the rising demand for process automation and the expansion of industrial facilities to improve energy efficiency, is anticipated to boost the growth of the automatic power factor controller market over the forecast period. On the other hand, in the projected period, the development of upgraded and sophisticated infrastructure will provide sufficient possibilities for the expansion of the automated power factor controller market.

The rising need for power management in industries such as manufacturing, defense, commercial, utility, and business is one of the key driving drivers for the automatic power factor controller market. In computers, graphics processing units (GPUs), and computer peripherals, power management is used to minimize power supplies, resulting in a more efficient power supply to these devices.

When an automatic power factor controller is placed in these businesses, it reduces the amount of energy used and, as a result, lowers electricity prices. Reactive power factor is required in most utility sectors, such as power plants and transformers, and power loss minimization. This would prevent damage to electrical equipment, and APFC is projected to see increased demand throughout the predicted period.

MARKET DRIVERS:

High demand across end-user industries is anticipated to drive the market’s growth.

One of the major reasons for the growth of the automatic power factor controller market is the growing demand for automatic power factor controllers across various end-user industries. The need for power management devices is strong in the industry, which is expected to drive the worldwide automated power factor controller market.

Furthermore, acceptance of the automatic power factor controller has increased across industries such as business, manufacturing, commercial, military, and utilities, which may boost the worldwide market growth. They provide benefits such as lower electricity costs, power savings, and power factor management, all of which are positively impacting the worldwide automated power factor controller market. This controller protects electrical equipment against harm, which is expected to fuel the global market during the forecast period.

Rising energy costs might impact automatic power factor controller market growth.

The automated power factor controllers (APFCs) market is greatly impacted by rising energy prices, which propel the technology's expansion and industry-wide acceptance. Businesses are under increasing pressure to optimize their energy consumption and save operating costs as energy bills keep rising. Under these conditions, advanced photovoltaic control (APFC) systems become indispensable for enhancing the energy economy and reducing the financial impact of high energy prices.

Automatic power factor controllers are becoming more popular among businesses in a variety of industries, such as manufacturing, commercial, and infrastructure, as a solution to the problem of growing energy expenses. By lowering reactive power usage, these controllers help businesses maximize power factor and minimize energy losses in electrical systems ultimately fueling market growth.

RESTRAINTS:

The  high cost of maintenance is predicted to hamper the market growth

A major restraint on the growth of the automatic power factor controller market is the high cost of maintenance of automatic power factor controllers. Repairing the old one is not cost-effective due to its high cost. High maintenance costs and technical limitations adapted to excessive energy fluctuation are impeding the worldwide market for automated power factor controllers from expanding. Owing to the inclusion of large-capacity capacitors and inductors for low-frequency filtering, the cost of designing and producing APFC panels is considerable. Equipment for the industrial and commercial sectors is costly and requires a one-time investment.

North America is anticipated to be the major regional market.

The North American market is anticipated to account for the highest revenue share in the worldwide automated power factor controller market. This is due to the presence of significant players in the area. Revenues from the Asia Pacific market, on the other hand, are anticipated to expand at a considerable rate throughout the forecast period, owing to increased industrialization, urbanization, and infrastructure development investments in the area.

Furthermore, the Asia Pacific region's increased need for automated power factor controllers is projected to boost the worldwide market. The growth in infrastructure development investment in the Asia Pacific is projected to keep the region's supremacy in the next few years. The need for power management devices is rising as a result of the use of automatic power factor controllers to help decrease losses in electric systems and maintain the power factor. South Korea, Japan, India, and China are some of the emerging nations in the Asia Pacific that might drive the worldwide automated power factor controller market.

Product Offerings:

• Automatic Power Control Regulator DPFC08B, The induced phase shift that is typically produced by industrial applications like welding machines, HAVAC systems, solar panels, eolic implants, etc. is lessened by the Microidea automated power factor controller. By balancing the number of insertions and the overall amount of time spent on insertion, the DPFC controller is made to utilize the connected capacitor banks to their fullest potential.
• Celec APFC Panels, The company’s speciality for Power Saving Solutions has been Celec APFC Panels (Automatic Power Factor Control Panel) devices. Even in the face of power quality interruptions, the company is Core Competent in the measurement and intelligent regulation of power factors.

Segmentation:

By Type

• Active Automatic Power Factor Controller
• Passive Automatic Power Factor Controller

By Component

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

By End-Users Industry

• Utility
• Manufacturing
• Commercial
• Defense
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others 
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others 
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others 
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others