Power Factor Correction Market Set to Reach $3.3 billion by 2030
The power factor correction market is booming! Projections show it reaching a substantial USD 3.3 billion by 2030, a significant jump from USD 2.4 billion in 2024. This represents a compound annual growth rate (CAGR) of 5.5%, indicating strong and steady expansion.
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What’s Driving This Growth?
Several...
Power Factor Correction Market Size, Share, Growth and Analysis: 2024-2030
The Power Factor Correction market is expected to reach USD 3.3 billion by 2030, up from an anticipated USD 2.4 billion in 2024, at a CAGR of 5.5% over the forecast period.
One major trend is the increasing awareness of energy efficiency and the financial benefits associated with improved power factor. As businesses strive to reduce energy costs and enhance operational efficiency, the adoption...