The automatic power factor controller market share is expected to increase by USD 672.3 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.87%.
This automatic power factor controller market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automatic power factor controller market segmentation by product (active power factor controller and passive power factor controller), end-user (process industries and discrete industries), and Geographic (APAC, North America, Europe, South America, and MEA). The automatic power factor controller market report also offers information on several market vendors, including Eaton Corporation Plc, General Electric Co., Havells India Ltd., Hitachi ABB Power Grids, Mitsubishi Electric Corp., ON Semiconductor Corp., Schneider Electric SE, STMicroelectronics NV, Texas Instruments Inc., and WEG Equipamentos Eletricos SA among others.
What will the Automatic Power Factor Controller Market Size be During the Forecast Period?
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Automatic Power Factor Controller Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The upgrading industrial facilities to improve energy efficiency is notably driving the automatic power factor controller market growth, although factors such as high cost of active and high voltage power factor controllers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automatic power factor controller industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automatic Power Factor Controller Market Driver
Upgrading industrial facilities to improve energy efficiency is one of the key factors driving the growth of the global automatic power factor controller market. One of the major reasons for the growth of the global automatic power factor controller market is the increasing need for energy efficiency in 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 energy efficiency and reducing expenses. Automatic power factor controllers help in achieving a high power factor and ensure smooth operations even under fluctuating load conditions. Due to these applications, many end-user industries are upgrading the components within their facilities to improve efficiency and reduce operating costs. As a result, the use of automatic power factor controllers is expected to increase. Another reason for upgrading the components is to protect them from damage by low or fluctuating power. This problem can be avoided by installing automatic power factor controllers as they help in achieving a high power factor.
Key Automatic Power Factor Controller Market Trend
The use of energy-efficient solutions will fuel the global automatic power factor controller market growth. There are many end users that rely on energy-efficient products and solutions other than automatic power factor controllers. Many vendors are offering solutions where industry experts perform a complete evaluation of the plant operations. Some components and solutions provided by energy-efficient solution providers include process controls, electrical switch gears, power factor management solutions, and motor control centers. They examine the machinery and processes to check the energy consumption from each machinery and process. They also identify areas where there is wastage of energy or high energy usage depending on this collected data and suggest various methods of reducing energy consumption and wastage. These energy efficiency solutions not only provide energy efficiency but also help in improving the overall efficiency of the plant. Many end-user industries have started using these solutions to improve their efficiency. Such trends are expected to positively impact the global automatic power factor controller market during the forecast period
Key Automatic Power Factor Controller Market Challenge
The high cost of active and high voltage power factor controllers is a major challenge for the global automatic power factor controller market growth. The price of active and high voltage automatic power factor controllers is one of the main reasons that is restricting many end users from installing these products. Active power factor controllers are expensive but highly efficient, and 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 a few models, which, in turn, affects the pricing strategy of active and high voltage power factor controllers. For large manufacturing facilities, only high voltage and active power factor controllers can be used. This is because only these controllers can attain a higher power factor required for the smooth operation of the facility. Though these products are expensive, end users have to rely on these models to maintain the required power factor.
This automatic power factor controller market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global automatic power factor controller market as a part of the global electrical components and equipment market within the global electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automatic power factor controller market during the forecast period.
Who are the Major Automatic Power Factor Controller Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Eaton Corporation Plc
- General Electric Co.
- Havells India Ltd.
- Hitachi ABB Power Grids
- Mitsubishi Electric Corp.
- ON Semiconductor Corp.
- Schneider Electric SE
- STMicroelectronics NV
- Texas Instruments Inc.
- WEG Equipamentos Eletricos SA
This statistical study of the automatic power factor controller market encompasses successful business strategies deployed by the key vendors. The automatic power factor controller market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Eaton Corporation Plc - The company offers MV AutoVAR power factor controller.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automatic power factor controller market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Automatic Power Factor Controller Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the automatic power factor controller market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global electrical equipment market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Automatic Power Factor Controller Market?
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52% of the market’s growth will originate from APAC during the forecast period. China, Japan and India are the key markets for automatic power factor controller market in APAC. Market growth in this region will be faster than the growth of the market in regions.
Upgrading industrial facilities to improve energy efficiency will facilitate the automatic power factor controller market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of the COVID-19 pandemic led to a decline in demand for automatic power factor controllers in APAC. Some automatic power factor controller manufacturers started postponing their investments in R&D, owing to low revenues. However, the market in the region has been slowly recovering since the beginning of 2021, owing to the introduction of vaccines to fight against the disease. This has led to the resumption of various industrial operations. Therefore, the market in the region is expected to grow during the forecast period.
What are the Revenue-generating Product Segments in the Automatic Power Factor Controller Market?
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The automatic power factor controller market share growth by the Process industries segment will be significant during the forecast period. Process industries include power, oil and gas, food and beverages, and plastics industries. The power industry is the major end-user industry for automatic power factor controllers among all process and discrete industries. This accounts for the high growth rate of process industries compared with discrete industries.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automatic power factor controller market size and actionable market insights on post COVID-19 impact on each segment.
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Automatic Power Factor Controller Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.87% |
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Market growth 2021-2025 |
$ 672.3 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.04 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 52% |
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Key consumer countries |
US, China, Japan, Germany, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Eaton Corporation Plc, General Electric Co., Havells India Ltd., Hitachi ABB Power Grids, Mitsubishi Electric Corp., ON Semiconductor Corp., Schneider Electric SE, STMicroelectronics NV, Texas Instruments Inc., and WEG Equipamentos Eletricos SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Automatic Power Factor Controller Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automatic power factor controller market growth during the next five years
- Precise estimation of the automatic power factor controller market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automatic power factor controller industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automatic power factor controller market vendors
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