New York, United States , July 04, 2024 (GLOBE NEWSWIRE) -- The Global Capacitor Bank Market Size is to Grow from USD 3.3 Billion in 2023 to USD 5.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.
45% during the projected period. An electrical energy storage device known as a capacitor bank is constructed from many capacitors with similar ratings that are linked in series or parallel. To make up for or correct a phase shift or power factor lag, the resultant bank is then applied to an AC power source.
They can also be utilized to boost the total amount of stored energy or the power supply's ability to tolerate ripple currents in a DC power source. Improving voltage stability and grid power factor is its primary objective. Whenever the need for reactive power fluctuates, it quickly releases or absorbs energy to make up the difference.
Energy costs are reduced and system performance is improved by reducing line losses and maintaining a constant voltage level. Furthermore, the growing product consumption in telecommunications and data centers is having a beneficial effect on the market. This is a result of these sectors' increasing demand for robust and efficient power management solutions.
As vital hubs for processing and storing massive volumes of data, data centers require a steady power supply and the highest possible power quality. Capacitor banks are essential for improving power factor, reducing voltage fluctuations, improving power system stability, minimiz.
