Power Factor Correction Devices Market Pdf

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Power factor correction devices are also known as power saver devices. It is connected to the mains of the electrical system for improving the power factor measurement taken using an electricity meter. Power factor correction devices measure how efficiently power is consumed. However, the utility bill based on real power is not affected by power factor correction devices, but it is useful for industrial users where the power charges are based on PFC rather than real power.

Power Factor Correction Devices Market Segments and

Key Trends 2017 – 2027

May 2017

Report Id : REP-GB-3431

Status : Ongoing

Category : Industrial Automation and Equipment

©2015 Future Market Insights, All Rights Reserved


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Power Factor Correction Devices Market

Power factor correction devices are also known as power saver devices. It is connected to the mains of

the electrical system for improving the power factor measurement taken using an electricity meter.

Power factor correction devices measure how efficiently power is consumed. However, the utility bill

based on real power is not affected by power factor correction devices, but it is useful for industrial users

where the power charges are based on PFC rather than real power.

Ideally, power factor will be unity (1 i.e. 100%), when the current and voltage simultaneously achieves

maxima, but due to highly inductive load/devices in the real world it is reduced to 0.7 or less. The

capacity of a circuit performance at a particular time is real power. It is observed that load/device with a

low power factor takes more current than high-power factor devices in the electrical system for the same

amount of power transferred. However, energy loss is also more in the distribution of higher current in

the system. It also requires higher capacity wires and equipment. And due to the extra expenses and the

wastage of current, power companies charge a higher cost to low power factor users, which are usually

industrial and commercial customers. This is mainly caused by lightly loaded induction equipment; any

device that has a coil of wire will create low power factor, such as Air Conditioners, pumps, fans or

blowers, induction furnaces, weaving machines, standard stamping machines, single-stroke presses and

automated machine tools. So, the power factor correction devices are used to raise the power factor of

the respective devices and reduce the electricity bill.

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Power Factor Correction Devices Market

Power Factor Correction Devices Market:Market Dynamics

Robust growth in HVAC systems across the world and increasing awareness among people to save

electricity by connecting power factor correction devices to the electrical system lead to substantial

increase in demand for power factor correction devices. Also, implementation of energy-efficiency norms

and standards for the development of public lighting and power system is also expected to bolster the

demand for power factor correction devices over the forecast period.

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There are also certain risks associated with the installation of power factor correction devices. When

power factor correction devices are connected to the system, they set up a parallel resonance circuit

between their capacitors and the system network inductance. Sometimes, the wave components that are

close to the parallel resonance are magnified and can cause serious problems such as excessive voltage

distortion, insulation breakdown within motors, transformers and conductors and overvoltage tripping of

drives . These risks can act as restraints to the power factor correction devices market. The presence of

alternatives such as vacuum contactors can also hinder the growth of power factor correction devices

market. Whereas, the growing tendency among people to save electricity by connecting power factor

correction devices covers up these restraints to an extent.

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Power Factor Correction Devices Market

Power Factor Correction Devices Market: Market Segmentation

Segmentation of power factor correction devices market can be doneon the basis of end-use as follows;

• Automotive industries

• Consumer electronics

• Medical and healthcare industries

• Mining industries

• Electric Power industry.

Segmentation of power factor correction devices market can be doneon the basis of application as

follows;

• Distributed power factor correction device

• Group power factor correction device

• Centralized power factor correction device

• Combined power factor correction device

• Automatic power factor correction device

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Power Factor Correction Devices Market

Power Factor Correction Devices Market: Regional Outlook

Asia Pacific holds the major share of the global power factor correction devices market, followed by

North America and Europe. Asia Pacific accounts for a significant share due to the substantial growth in

electricity consuming sectors in this region. Rapid urbanization and industrialization in many major

countries in the region such as China and India, is also expected to boost the market growth over the

forecast period.

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Power Factor Correction Devices Market: Market Participants

Some of the examples of market participants in the global power factor correction devices market,

identified across the value chain are

• Siemens AG

• ABB

• Toshiba Corporation

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Power Factor Correction Devices Market

• Schneider Electric

• Mitsubishi Electric Corporation

• LARSEN & TOUBRO LIMITED

• Eaton

• Cgglobal

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