Power Capacitor Market in India 2015-2019
About Power Capacitor
An electrical device used to improve the power factor of an electrical power system, which is operating an inductive load, is known as a power capacitor. Many industries use induction motors that induce low power factor in the adjacent distribution line that leads to massive Kvar loss. It negatively impacts the usage of energy. To conserve energy, one of the most important measures taken is the improvement of power factor. Power capacitors, when connected to a transmission line, improves the overall power factor, which positively affects the power factor of an end-user industry. Though it has limited usage, capacitors are sometimes used to store energy.
TechNavio's analysts forecast the Power Capacitor market in India to grow at a CAGR of 12.46 percent over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Power Capacitor market in India during the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue obtained from the sales of power capacitors.TechNavio's report, the Power Capacitor Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Power Capacitor market in India and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Vendors
Technavio Announces the Publication of its Research Report – Power Capacitor Market in India 2015-2019
Technavio recognizes the following companies as the key players in the Power Capacitor Market in India: ABB Ltd., EPCOS India Pvt. Ltd., GE Digital Energy, Globe Capacitors Ltd. and Schneider Electric SE
Other Prominent Vendors in the market are: AB Power System, Clariant Power System, Commerce, Electro Power Engineers, Jainam Electronics, L&T and Shreem Electrics
Commenting on the report, an analyst from Technavio’s team said: “Technological evolution in the field of capacitors is one of the key emerging trends in the market. New-age capacitors come with better safety features, durability, performance, reliability, compactness, and other essential features. Vendors are also offering higher Kvar density in MV power capacitors, which makes the size of the installation smaller.”
According to the report, various progressive policies undertaken by the government are the major factors driving the market. Penalties and incentives for the utilities as per the quality of power available in the network are one of the significant initiatives being taken up by the government.
Further, the report states that there are growing concerns over the lack of availability of raw materials hindering the Power Capacitor market in India. The raw materials required to manufacture power capacitors are scarce in the country. Almost 80 percent are imported from other countries, which has a negative impact on the production time and cost of capacitors.
ABB , EPCOS , GE Digital Energy , Globe Capacitors , Schneider Electric , AB Power System, Clariant Power System, Commerce , Electro Power Engineers, Jainam Electronics, L&T, Shreem Electrics
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook