Automatic Power Factor Controller Market Size

Automatic Power Factor Controller Market Growth Projections and Opportunities

Automatic Power Factor Controller (APFC) Market is having many factors that help in determining the direction of market movement and its growth. Some of the main motivators is increasing awareness and focus on energy efficiency in industrial and commercials end use sectors. APFC systems are integral to the effective use of electrical energy because they optimize the power factor in all different types of electrical systems. As more and more organizations try to cut down energy footprints, enhance operating efficiency, as well as comply with the law on energy by assessing devices’ performance through Ampere measurement solutions; demand for APFC continues growing. Technological upgrades regarding the power electronics and control are stepping stones of APFC Market. New microprocessors, sensors, and communication protocols lead to the development of superior APFC controllers possessing strong features. These controllers are engineered to automatically detect power factor that these electrical systems will be running on and in real-time, it will also adjust the connected capacitor banks so as to ensure proper power correction.

Smart features like remote monitoring and analytics along with integrating the APFC system promotes efficiency in such systems. The APFC Market highly depends on the existing economic conditions of various sectors since the cost of energy accounts for a big portion of operational expenses. In booming periods of economic resultant industries converge to capitalize on energy conserving options in a bid to enhance effectiveness. On the other hand, recessions may prompt cost congressional activities and thus reduce demand for APFC systems. Overall economic well-being and equilibrium of industrial sectors, such as manufacturing and utilities, is one of the major drivers influencing development in the APFC Market. The role of government rules and regulations, or energy policies is also very important making the marketplace framework of APFC.

Power factor correction has accordingly become an internationally spread phenomenon, many countries and even whole regions and continents have introduced regulations to promote power factor correction or as a duty to reduce energy wastage and improve the performance of electrical systems. The deployment of APFC solutions can be incentivized through penalties, rebates or rewards based on how a system’s power factor changes. The Electrical Machinery directive imposes stringent performance requirements and tests to the manufacturers and users of electrical equipment. This therefore leads to a market need for APFC controllers. The competitive terrain is one of the most important driving forces impacting on APFC Market. The scope of competition is such that, in which many manufacturers and suppliers are abound.