Power management devices are high in demand for a conservation of energy and prevention of electronic equipment get damage by over voltage conditions. These convincing factors leads to the adoption of automatic power factor controller equipment in industries, and they are getting reduction in power loss in distribution system, superiority of reactive power, and safeguarding the electronic devices from destruction. Moreover, the Utility Industry is also determined to enhance the power factor.
Acceptance of the automatic power factor controller is rising across the industries such as enterprise, manufacturing, commercial, military, and utility, which will foster the global market growth in the near future because it provide advantages such as reduce electricity cost, saves power, and manages power factor; hence, its advantages are influencing the global automatic power factor controller market in a positive way and saves electrical equipment from getting damaged, due to all these factor it is anticipated to drive the global market in future.
Automatic power factor controllers help in achieving a high power factor and ensure smooth operations even under fluctuating load conditions, all industries are upgrading their existing components and machinery within their facilities to improve the efficiency and achieve maximum output.
Active power factor controllers are slightly high in cost, and the only reason behind the obstruction of industry growth, they are expensive but highly effective, so the big industries only can buy and afford to maintain them.
The global automatic power factor controller market is classified based on geography as Asia Pacific, North America, the Middle East & Africa Europe, and Latin America. Asia Pacific is the leading region for automatic power factor controller due to its higher demand. However, rising industrialization and urbanization in this region also positively impacting the global market.
Increasing spending on infrastructure development in Asia pacific is expecting to maintain its dominance in the coming future because Automatic power factor controller helps to reduce losses in electric systems and maintain the power factor, thus increasing the demand for power management devices. Some developing countries in Asia Pacific such as South Korea, Japan, India, and China will also propel the global automatic power factor controller market.
Major players operating in the global automatic power factor controller market are General Electric Company, Schneider Electric SA, Texas Instruments Inc., EPCOS AG, and Fairchild Semiconductor International, Inc. Other players include On Semiconductor Corporation, STMicroelectronics N.V., ABB Ltd., Eaton Corporation, Larsen & Toubro Limited, and Crompton Greaves Ltd, Which will stand in the dominating position in the market and will drive the global automatic power factor controller market in future.