Global Three Phase Power Capacitors Market Assessment, By Product Type [Fixed Capacitors, Automatic Power Factor Correction Capacitors, Detuned Reactor Capacitors, Switched Capacitor Banks, Others], By Voltage Rating [Low, Medium, High, Extra High, Ultra High], By Application [Power factor Correction, Voltage /VAR support, Others] By End-User [Residential, Commercial, Industrial], By Region, Opportunities and Forecast, 2017-2031F

Three phase power capacitors market is projected to witness a CAGR of 4.85% during the forecast period 2024-2031, growing from USD 3.51 billion in 2023 to USD 5.13 billion in 2031. The benefits of three-phase capacitors include their essential role in power factor correction and reactive power compensation, leading to improved power system efficiency and stability. The increasing demand for electricity, intelligent controllers, energy efficiency regulations, and technological advancements are the significant factors driving the growth of the three-phase capacitor market. Moreover, emerging economies in regions like Asia-Pacific and Latin America contribute to market growth through rapid industrialization and increased investments in infrastructure development. Intelligent controllers in three-phase capacitors actively monitor and control the capacitor's performance, ensuring optimal power factor correction. They minimize stress on capacitor components by sequencing and engaging them precisely, enable quick response times for dynamic compensation, reduce harmonic distortion, and improve system efficiency. These advanced features contribute to increased reliability, efficiency, and reduced energy costs in power systems.

For example, in September 2022, as per the Power electronics news, Pulsiv OSMIUM MCU is considered as one of the best intelligent controllers whose major objective is to provide a high-power factor while retaining a higher efficacy rate over the whole load range. A switched current is sent via a series inductor in a simple PFC controller, and the power factor is rectified by detecting the phase change in voltage and current.

Power Factor Correction is Proliferating the Market Growth

Power factor correction via the three phase capacitors is significantly driving the market growth rate. These capacitors improve distribution efficiency, correct interference, and solve power problems such as low power factor, harmonics, surge, and ripple, thereby contributing to energy loss in substations and distribution lines. Moreover, the market growth is attributed to the rising adoption of strategies by key players and the increasing demand for power factor correction systems due to the adoption of the Internet of Things (IoT) and smart technologies.

In January 2023, TDK Corporation introduced the TDK-Lambda brand PF1500B-360 whole brick power factor correction AC-DC module. The module, rated at 1512W with an input voltage range of 170 to 265V, produces a non-isolated, regulated 360Vdc output with a power factor of 0.98. The PF1500B-360 is appropriate for high voltage power systems that use isolated DC-DC converters in a distributed power architecture topology, as well as loads that require a high voltage source.

Three-Phase Power Capacitors with Advanced Voltage Reduction Technology

The utilization of power technology in three-phase capacitors for voltage reduction amplifies the market growth of three-phase capacitors. Key factors driving this growth include the continuously increasing demand for electricity, energy efficiency regulations, and technological advancements.

For example, in March 2022, ROHM introduced a new power supply technology known as QuiCur, that improves the load transient response (LTR) characteristics of DC/DC converter ICs & LDOs. The output voltage becomes more stable as the output capacitance increases, but the immediate reaction performance gradually degrades. Here, QuiCur allows for linear adjustment of both output capacitance and output voltage variation since the instantaneous response performance remains constant with the rise of output capacitance. This, in turn, minimizes the output voltage variations to a great extent.

Heavy-Duty Operations Propel Market Opportunities for Three-Phase Capacitors

The implementation of three-phase capacitors in heavy-duty operations is creating numerous opportunities in the market. The demand for these capacitors is driven by their use in power factor correction and reactive power compensation in medium-voltage networks. The capacitors, such as the ones offered by GE, WEG, and Hitachi Energy, are designed to operate in demanding conditions, providing reliable performance and contributing to improved power system efficiency and stability.

For example, in March 2023, Murata announced its plans to expand its Silicon Capacitor production by creating a new 200-mm mass production plant in Caen, France. This facility's capacitors are used in high-performance applications like implantable medical equipment, communications infrastructure, and mobile phones. The new production line is based on 200 mm wafers and focuses on the most recent PICS technology, which offers significantly improved electrical performance and is primarily aimed at the mobile handset market, offering high performance and capacitance values in compact sizes, with thickness of around 40µm.

Asia-Pacific Surges Ahead in High-Voltage Capacitor Market

Asia-Pacific significantly dominated the market due to the prevalence of some key factors. The region's growing popularity of EVs has increased the demand for high-voltage capacitors in the automotive industry. Additionally, the rising electricity demand in the region, driven by urbanization, industrialization, and the integration of renewable energy sources, has led to an increased need for capacitors to optimize energy efficiency. Furthermore, Asia-Pacific is home to some of the most prominent market players in the world and along with this the market has also witnessed government-funded T&D projects, further contributing to its dominance.

For example, in June 2023, Indian and Korean researchers collaborated to develop technologically advanced light-powered supercapacitors. This technology aims to replace traditional lithium-ion batteries in portable and wearable devices such smartphones, tablets, laptops, and smartwatches. Moreover, to gather visible light, this capacitor design has a stainless-steel electrode equipped with a quartz clear window. A specially prepared 'down-conversion' phosphor is placed before the quartz window to assist light-induced charging.

Government Initiatives

Favorable government initiatives are needed to boost the growth of the three phase capacitors market. The government-funded transmission and distribution projects have resumed operations, which is anticipated to increase the demand for high voltage capacitors. Moreover, the government regulations aimed at reducing energy wastage and carbon emissions via the usage of shunt capacitors thereby mitigating the transmission and distribution losses.

For example, in January 2023, MDPI presented a multilayer inverter system with three switched capacitors and a low switch count and voltage strain. The proposed architecture is designed to generate five different output voltage levels from a single isolated DC source, making it suitable for medium and low-voltage applications.

Report Scope

"Three Phase Power Capacitors Market Assessment, Opportunities, and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of the three phase capacitors market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 4.85% between 2024-2031
Revenue Forecast in 2031	USD 5.13 billion
Segments Covered	Product Type, Voltage Rating, Application, End-User
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	TDK Corporation, Murata Manufacturing Co., Ltd, KYOCERA AVX Components Corporation, Eaton Corporation plc, KEMET Corporation, Cornell Dubilier and Cornell Dubilier Marketing, Inc., Hongfa Technology Co., Nippon Chemi-Con Group, Vishay Intertechnology, Inc., Hitachi Energy Ltd.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In this report, three phase capacitors market has been segmented into the following categories: 

·         By Product Type

o   Fixed Capacitors

o   Automatic Power Factor Correction Capacitors

o   Detuned Reactor Capacitors

o   Switched Capacitor Banks

o   Others

·         By Voltage Rating

o   Low

o   Medium

o   High

o   Extra High

o   Ultra-High

·         By Application

o   Power factor Correction

o   Voltage / VAR support

o   Others

·         By End-User

o   Residential

o   Commercial

o   Industrial

·         By Region 

o   North America

o   Asia-Pacific

o   Europe

o   South America  

o   Middle East and Africa

Key Players Landscape and Outlook

Major corporations are extensively investing in power factor corrections via the utilization of three-phase capacitors, accelerating the total industry growth. Furthermore, the market is extremely competitive, with multiple competitors contending for market dominance and investing in R&D, partnerships, and collaborations to expand their product portfolios and acquire a competitive advantage. Overall, the market for three-phase capacitors is expected to grow significantly in the coming years.

In November 2023, TDK Corporation announced the addition of the TDK-Lambda brand TPS4000-12 power supply to the current 3kW to 4kW rated TPS series 3 phase capacitors. The TPS4000 series runs from a broad range Delta or Wye 350 - 528Vac three phase input and delivers up to 2040W output power (12V @ 170A) in a 2U high box. These industrial power supplies are well suited for usage in a variety of applications such as measurement and testing equipment, semiconductor fabrication, additive manufacturing, printers, lasers, and RF power amplifiers. The HV, three-phase input eliminates the need for expensive step-down transformers and aids in phase load current balancing.

In February 2023, Vishay Intertechnology, Inc. exhibited its industry-leading power electronic components at the ELECRAMA 2023, India Expo Mart in Greater Noida, NCR, India. Vishay showcased its broad line of Vishay ESTA power electronic capacitors (PEC) and LVAC power capacitors at the event. Moreover, Vishay passive components at ELECRAMA 2023 also included ceramic and metallized polypropylene film capacitors.

Key Players Operating in the Three Phase Capacitors Market are:

·         TDK Corporation

·         Murata Manufacturing Co., Ltd

·         KYOCERA AVX Components Corporation

·         Eaton Corporation plc

·         KEMET Corporation

·         Cornell Dubilier And Cornell Dubilier Marketing, Inc.

·         Hongfa Technology Co.

·         Nippon Chemi-Con Group

·         Vishay Intertechnology, Inc.

·         Hitachi Energy Ltd

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·         How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

·         What is the business environment and regulatory landscape specific to the product/service?

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