Power Factor Correction Market Accelerates Toward $3.3 Billion on Efficiency and Regulatory Winds
A surge in global energy efficiency initiatives, rising focus on electricity cost reduction, and strict environmental regulations are set to propel the power factor correction (PFC) market to new heights. Industries worldwide are rapidly deploying PFC solutions to modernize infrastructure, trim energy bills, and meet evolving compliance standards, making power factor correction a foundational element...
North America Power Factor Correction Market Size to Grow $999.1 million by 2030
According to a research report “North America Power Factor Correction Market by Reactive Power (0–200 KVAr, 200–500 KVAr, 500–1,500 KVAr, Above 1,500 KVAr), Type (Automatic, Fixed), Sales Channel (Distributors, OEM Direct), Application, and Region – Global Trends & Forecast to 2030″, the North America power factor correction market is projected to reach USD 999.1 million...
Power Factor Correction Market Set to Reach $3.3 billion by 2030
The power factor correction market is booming! Projections show it reaching a substantial USD 3.3 billion by 2030, a significant jump from USD 2.4 billion in 2024. This represents a compound annual growth rate (CAGR) of 5.5%, indicating strong and steady expansion.
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What’s Driving This Growth?
Several...
Power Factor Correction Market Size, Share, Growth and Analysis: 2024-2030
The Power Factor Correction market is expected to reach USD 3.3 billion by 2030, up from an anticipated USD 2.4 billion in 2024, at a CAGR of 5.5% over the forecast period.
One major trend is the increasing awareness of energy efficiency and the financial benefits associated with improved power factor. As businesses strive to reduce energy costs and enhance operational efficiency, the adoption...
Power Factor Correction Market Size to Grow $3.3 billion by 2030 at a CAGR of 5.5%
The global Power Factor Correction Market is projected to reach USD 3.3 billion by 2030 from an estimated USD 2.4 billion in 2024, at a CAGR of 5.5% during the forecast period.
The demand for power factor is on the rise due to various factors such as the globally increasing level of energy consumption, fostered by the rapid process of industrialization as well as urbanization, is additionally pressuring...