Global Automatic Power Factor Controller Market 2017-2021
About Automatic Power Factor Controller
Automatic power factor controllers use an automatic capacitor recognition mode to operate and are mainly used to maintain an ideal power factor under fluctuating load and voltage conditions. These controllers help in increasing the efficiency and reducing the energy consumption by avoiding voltage fluctuation and wastage of energy, which could occur if the power is not allocated optimally. Automatic power factor controllers are used to maintain a suitable power factor under fluctuating voltage and load conditions. In addition, most devices come with step switching and step protection features, making these controllers more suitable for the end-user industries.
Technavio’s analysts forecast the global automatic power factor controller market to grow at a CAGR of 4.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automatic power factor controller market for 2017-2021. To calculate the market size, the report considers the new installations, retrofit, and replacement.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automatic Power Factor Controller Market 2017-2021
Technavio recognizes the following companies as the key players in the global automatic power factor controller market: ABB, General Electric, ON Semiconductor, STMicroelectronics, and Texas Instruments.
Other Prominent Vendors in the market are: Ab Power System Solution, Dynamic Control Systems, Eaton, Havells, LOVATO Electric, REM Electromach, Schneider Electric, Serwel Electronics, Socomec, Techno Power Systems, and Vicor Corporation.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is need for process automation. All industries are upgrading their existing components and machinery within their facilities to improve the efficiency and achieve maximum output. Automation reduces human interference within a manufacturing facility, leading to decrease in downtime. With the help of IoT, managers and supervisors can collect data of each process and functioning of each machinery. These data can be used in making analytical models, which are used to improve the operational capacity of a facility. This helps in decreasing the workforce and operational cost of a manufacturing facility.”
According to the report, one of the major drivers for this market is Upgrading industrial facilities to improve energy efficiency. One of the major reasons for growth in the global automatic power factor controller market is the increasing need for energy efficiency in the end-user industries. Most process and discrete industries incur high energy expenses. With the help of automatic power factor controllers, these industries can optimally use the resources, thereby improving the energy efficiency and reducing the expenses. Automatic power factor controllers help in achieving a high power factor and ensure smooth operations even under fluctuating load conditions.
Further, the report states that one of the major factors hindering the growth of this market is High cost of active and high voltage power factor controllers. The price of active and high voltage automatic power factor controllers is one of the main reasons, which is restricting many end-users from installing these products. Active power factor controllers are expensive, but highly efficient, due to which only big companies can afford to purchase and maintain them. SMEs prefer passive power factor controllers as these are economical. However, the efficiency of these products is less than that of active power factor controllers. The manufacturing cost of automatic power factor controllers is high due to the components used, such as capacitors, microcontrollers, resistors, and displays in few models, which, in turn, affects the pricing strategy of active and high voltage power factor controllers.
ABB, General Electric, ON Semiconductor, STMicroelectronics, Texas Instruments, Ab Power System Solution, Dynamic Control Systems, Eaton, Havells, LOVATO Electric, REM Electromach, Schneider Electric, Serwel Electronics, Socomec, Techno Power Systems, and Vicor Corporation.