The global automatic power factor controller market is predicted to reach USD 5.03 billion in 2024 and USD 6.28 billion by 2029, growing at a CAGR of 4.55% during the forecast period.
An automatic power factor controller is a device that is programmed to automatically increase output power when the power factor drops below a certain level. The demand for electrical energy is constantly increasing. In addition, the need to build a system for automatic power factor improvement increases, as a low power factor puts excessive pressure on power grids and transmission lines. This need can be met through the use of automatic power factor controllers. The demand for automatic power factor controllers is expected to increase at a considerably high rate in the near future and existing players are expected to gain a larger market share in the coming years.
The relationship between the real load power and the apparent load power is the power factor. It ensures the conversion of current into effective output and the efficiency that can be achieved with a certain amount of power. An electrical system includes several automatic load power and power factor controllers, which are used to centralize power compensation at the point of distribution of electrical power. They are widely used in various industries such as defense, utilities, manufacturing, business, and commerce. An automatic power factor controller is required in computer peripherals, computers, and graphics power units (GPUs) where disabling the switches minimizes the power supply and therefore provides efficient power to these devices. Installing this device reduces energy consumption and therefore reduces electricity costs. Utilities industries, such as power plants, where transformers need reactive power factor and reducing power loss is one of the important functions.
Power management is used in computers, graphics power units (GPUs), computer peripherals where turning off switches reduces power supplies, leading to efficient powering of these devices. APFC, once installed in these industries, reduces energy requirements and the low level of energy consumption also reduces electricity costs. Most utility industries, such as power plants and transformers, require a reactive power factor and reducing energy loss is one of the main requirements. This would prevent damage to electrical equipment and FPAC is expected to meet the growing demand during the forecast period.
This type of PFCA has a short useful life and its best performance is between 8 and 10 years. However, as the PFCA requires low voltage or fluctuating power level, some PFCAs are not suitable to compensate for the balancing power load under extreme volatility. Due to its high maintenance cost, it is not profitable to repair the old one. This type of high maintenance cost and technological restriction adapted to extreme energy volatility is obstructing the growth prospects of the global market for automatic power factor controllers.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
CAGR |
4.55% |
|
Segments Covered |
By Type, Component, and Region |
|
Various Analyses Covered |
Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Baker Hughes (US), Corrosion Control Engineering, (Australia), Rouge Pipeline & Process Services (UAE), Penspen (UK), Halfwave AS (Norway), Romstar (Malaysia), Cokebusters (UK), Quest Integrity Group (US), A.Hak Industrial Services (Netherlands), SGS SA (Switzerland), T.D.Williamson (US), Rosen Group (Switzerland), and NDT Global (UAE) and Others. |
Active PFCAs, which allow designers to achieve a PF as high as 0.99, had the highest market share in 2015. Active PFCAs can be of two types: single-story or multi-story. The single-stage power factor controller uses a single switch and controller to rectify the input current and maintain the output voltage, while the multi-stage power factor controller has two or more power stages to reduce harmonics of the input current.
In the age of industrialization, there is a growing need for inductive charging and losses in the electrical system are common. Therefore, the demand for APFC microcontrollers would increase and the demand for APFC microcontrollers is likely to increase during the forecast period. The APFC switch is another important segment that may experience increased demand during the forecast period.
The North American region is expected to dominate most of the world market. Most of North America may be due to the existence of significant automatic power factor controllers in the region.
Europe is following North America in leading the dominant shares of the market by owing to quick adoption of the latest technologies. Increasing expenditure is also likely to fuel the demand of the automatic power factor controller market in Europe.
The Asia-Pacific area is required to be the quickest developing business sector. Variables owing to the fast development of the Asia-Pacific district are expanded industrialization, urbanization, and improved framework. The Asia-Pacific area incorporates nations like India, South Korea, China, and Japan.
Major Key Players in the Global Automatic Power Factor Controller Market are
The STMicroelectronics STNRG012 full regulator joins a multi-mode PFC regulator and a LLC time balance resonant half-connect regulator. This regulator is fit for dealing with both AC and DC inputs. The STNRG012 power framework and control algorithmss are driven by a 8-bit center with High Speed Dedicated Peripherals (SMED). This full driver includes an inherent 800V starter circuit and line sense. The STNRG012 resounding driver offers earthy colored out assurance and a full arrangement of half-bridge securities.
ABB dispatches the cutting edge RVC power factor regulator. The new straightforward and instinctive plan of the RVC power factor regulator gives an improved client experience to control and monitor.
By Type
By Component
By Region
Frequently Asked Questions
Key drivers include the increasing need for energy efficiency, the rise in industrial activities, stringent government regulations regarding energy consumption, and the growing adoption of renewable energy sources which necessitate power factor correction.
The integration of IoT and smart technologies is significantly enhancing the functionality and efficiency of APFC systems. Smart APFCs offer real-time monitoring, remote control, and predictive maintenance, leading to better energy management.
Challenges include the high initial cost of installation, lack of awareness about power factor correction benefits in developing regions, and technical complexities associated with integrating APFCs with existing electrical infrastructure.
Technological advancements include the development of hybrid APFC systems, the integration of advanced sensors and controllers, and the use of artificial intelligence and machine learning for optimizing power factor correction.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region