MARKET OVERVIEW
The importance of power quality and energy efficiency continues to drive the demand for effective power factor correction solutions, including capacitor switching contactors. Industries are seeking ways to optimize their energy consumption and improve power factor to reduce energy costs. As renewable energy sources like solar and wind become more prominent, the need for power factor correction and reactive power compensation increases.
MARKET SIZE & GROWTH
• The global Capacitor Switching Contactors Market was valued at USD 198.3 million in 2024.
• It is projected to reach USD 289.5 million by 2032.
• The market is expected to grow at a CAGR of 6.2% from 2025 to 2032.