Automatic Power Factor Controller Market

Market Insights

"The global automatic power factor controller market is estimated to grow from USD 4.2 billion in 2020 to USD 5.6 billion by 2026 at a healthy CAGR of 4.8% during the forecast period."

Power factor controllers help to supervise the reactive power of a plant and prevent overloads. Automatic power factor controllers (APFCs) are completely automated in function and can easily accomplish the preferred power factor under unstable load situations. These APFCs enable to lower power consumption owing to the presence of non-linear loads such as motors, transformers, and other machines in various sectors. APFC) is primarily used for centralized power compensation at the point of electrical power distribution.

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The automatic power factor controller market is mainly driven by the adoption of APFCs in various sectors such as military, enterprise, manufacturing, commercial, etc. APFC implemented in these industries reduces power requirements, hence the low level of power consumption reduced electricity costs. Surging increasing demand for power management devices in the industries; thus ultimately a need for automatic power factor controller is another key driver. Moreover, the ability of APFC in management of power factor, reduction in electricity expenses, growing need for inhibiting electronic apparatus from destruction, and power saving, further boosts the industry growth in the coming years.

The outbreak of COVID-19 negatively affected the automatic power factor controller industry. The shutdown of manufacturing activities along with ban on travel & transportation ban across the globe, the demand for APFC was affected. Most automakers and other manufacturing sectors had to halt operations or are working at a limited capacity, thus led to a reduction in demand for APFC.

Key Players

Key players operating in the global automatic power factor controller market are:

• ABB Ltd. (Switzerland)
• General Electric Company (US)
• Eaton Corporation PLC (Ireland)
• Schneider Electric SE (France)
• EPCOS AG (Germany)
• Texas Instruments, Inc. (US)
• Fairchild Semiconductor International, Inc. (US)
• Larsen & Toubro Limited (India)
• STMicroelectronics N.V. (Switzerland)
• Crompton Greaves Ltd. (India)

Note: The above list does not necessarily include all the top players of the market.

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Segment’s Analysis

Test Insights

"The active segment accounted for the largest market share."

Based on test type, the automatic power factor controller market has been divided into passive and active. The active segment accounted for the largest market share in 2020. Surging demand for APFCs by different industries, including manufacturing, commercial, military, utility, etc. is a key driver. Also, the APFC comprises of active components such as diodes and transistors that help the engineers to attain high power factor as 0.99, thereby augmenting the segment growth.

Regional Trends

"Asia-Pacific accounted for the largest market share."

By region, the Asia-Pacific accounted for a significant share in 2020 and is expected to grow at a robust CAGR during the review period. The Automatic Power Factor Controller market growth is mainly attributed to the increasing development of infrastructure such as power plants, commercial buildings, and others in China and India coupled with rising industrialization & urbanization, further bolsters the regional market growth. North America is expected to grow at a healthy CAGR during the review on account of growth of the major end-use industries. This growth is mainly attributed to the infrastructure improvement of residential and commercial buildings as well as the construction of new power plants.

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