Capacitor Bank Market Latest Trends, Growth and Forecast 2019 to 2025 Capacitor Banks Market size is driven by accelerating investments toward the modernization of electrical infrastructure coupled with growing electricity consumption across emerging economies. As per the Global Energy Statistical Yearbook 2018, electricity domestic consumption in china rose from 5,367 TWh in 2016 to 5,683 TWh in 2017. In addition, ability to improve the power transmission capability and increased control of the power flow will stimulate the product adoption. Favorable regulatory initiatives and policies to interconnect power grids favored by considerable investments toward the renewable energy systems will boost the capacitor bank market size. Increasing applicability of these systems to be deployed as standalone field services or as integration part of an entire automation solution to enhance power quality and grid efficiency will complement the industry outlook. Expansion of smart grids along with the evolution of power networks coupled with the propensity of these systems to maintain grid control will foster the product penetration.
Ongoing development of High Voltage Direct Current (HVDC) networks to fulfil the continuously burgeoning power demand will augment the capacitor banks market size. Market research reports: Key analytical components
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