LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global automatic power factor controller market 2017-2021 report. This market research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, there are many vendors in the global automatic power factor controllers that offer a variety of products. Due to developments in technology and increase in the use of simulation software, the vendors of automatic power factor controllers are now manufacturing recent technology-enabled, quality products. The product development within this industry is high. Also, there are many products that are expected to be introduced with upgrades thus, increasing the product differentiation and degree of innovative solutions.
“One of the major reasons for growth in the global automatic power factor controller market is the increasing need for energy efficiency in the end-user industries. Most process and discrete industries incur high energy expenses. With the help of automatic power factor controllers, these industries can make optimal use of resources and reduce expenses. Automatic power factor controllers help in achieving a high power factor and ensure smooth operations even under fluctuating load conditions,” says Bharath Kanniappan, a lead automation research analyst from Technavio.
APAC has the highest growth rate in the global automatic power factor controller market as there are many investments in APAC's automotive, oil and gas, power, and food and beverages industries. It is expected that these end-user industries will continue to create demand for automatic power factor controllers during the forecast period.
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Technavio market research analysts identify the following key vendors:
ABB is a major vendor in robotics, engineering, and automation products with business operations in more than 100 countries. Automated power factor controllers are sold under the high voltage product category. Some other products sold under the high voltage category include hybrid switchgear, generator circuit breakers, monitoring and controlled switches, capacitors and filters, and other products.
General Electric is a multinational conglomerate with a global presence. It is a prominent vendor for automatic power factor controllers sold under the grid solutions segment. Some other products sold under grid solutions include HV/MV equipment, automation and protection, and other software solutions.
ON Semiconductor is a key vendor of semiconductors and automatic power factor controllers. Other products sold by ON Semiconductor include power and signal management, automotive products, computing, logic and discrete, LED lighting, consumer and industrial products, medical, power applications, and aerospace and military products. Power factor controllers are sold under AC-DC controllers and regulators.
STMicroelectronics is a prominent manufacturer of semiconductors and electronics. Other products sold by the company include power factor controllers. STMicroelectronics gives high importance to innovation, and as of 2016, the company had 16,000 patents under its name for various products and solutions. Power factor controllers are sold under the power management product segment.
Texas Instruments is a prominent manufacturer of semiconductors and offers automatic power factor controllers. The major products of Texas Instruments include analog chips and embedded processors. Other products include calculators, microcontrollers, and multi-core processors.
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