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(Chicago.CityRegions.Com, February 22, 2017 ) According to the new report "Automatic Power Factor Controller Market by Type (Active APFC and Passive APFC), Component (Relays, Capacitors, Displays, Microcontrollers, Switches, and Resistors), Industry and Geography - Global Forecast to 2022", the global automatic power factor controller market is expected to be worth USD 4.78 Billion by 2022, growing at a CAGR of 4.6% between 2016 and 2022. Factors such as increasing need for energy conservation devices in industries and need to prevent electronic equipment from damage due to overvoltage conditions are the key drivers for the adoption of automatic power factor controller equipment.
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Active APFC market held the largest market share in 2015 and is expected to grow at the highest rate during the forecast period
Active comprise active components such as transistors and diodes that allow the designers to achieve power factor as high as 0.99. In most of the industrial applications, active power factor controllers are preferred due to their high accuracy of power quality, lightweight and wide application areas. Active APFCs are used in various industries such as manufacturing, utility, commercial, enterprise, and military. These benefits contribute to the growth of active APFCs in the market.
Adoption of APFC devices, in the utility industry, that protect the electronic devices from damage and reduce power losses are the major driving factors for the growth of the APFC market
The utility industry held the largest market share of the global APFC market in 2015. This market is expected to grow at the highest CAGR during the forecast period. Many large voltage-rated devices such as transformers and drivers in the utility industry produce poor power factor, thereby drawing more power from the mains supply. To reduce such power losses, APFCs have been adopted in the utility industry. APFCs also reduce the current harmonics in the distribution systems, reduce electric utility expenses, and increase system capacity.
North America held the largest share of the APFC market in 2015 due to the presence of major APFC vendors in the region
Major APFCs manufacturing companies such as General Electric (U.S.), Texas Instruments Inc. (U.S.), ON Semiconductor Corporation (U.S.), and Fairchild Semiconductor International, Inc. (U.S.), among others have been developing APFC panels for various industries; hence, it would help in growth of the North American APFC market. The APFC market in the U.S. held the largest market share in 2015. Additionally, the utility industry adopted the APFC panels that have been used to manage the power factor and reduce the current harmonics in the electrical distribution systems.