DUBLIN, Nov 10, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Automatic Power Factor Controller Market - Global Forecast to 2022" report to their offering.
The global automatic power factor controller market is estimated to grow at a CAGR of 4.6% and is expected to be valued at USD 4.78 Billion by 2022. APFCs help in lower the power consumption due to the presence of non-linear loads such as transformers, motors, and other machines in industries. Also, the growing demand for APFCs in the utility and manufacturing industries to improve the reactive power and reduce harmonics in the systems drive the growth of the overall APFC market. The APFC is segmented on the basis of type that includes active and passive APFCs. The active APFCs, which allow the designers to achieve PF as high as 0.99, held the largest market share in 2015. The active APFC can be of two types: single stage or multi stage. The single-stage power factor controller use single switch and controller to rectify the input current and maintains the output voltage, while multi stage power factor controller has two or more power stages to reduce the input current harmonics. The APAC market is estimated to grow at the highest CAGR between 2016 and 2022. The growing development of infrastructures such as commercial buildings, power plants, and others for developing economies of the APAC region would be the driving factor for the market in the APAC region. High initial investments and installation costs for industries is a major restraint for the APAC market. The cost of designing and developing APFC panels is high due to the presence of high-capacity capacitors and inductors for low-frequency filtration. The equipment for industrial and commercial verticals are expensive and incur one-time cost.