Power Factor Correction Market Set to Reach $3.3 billion by 2030

Power Factor Correction Industry
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. Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=193037457 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...

Power Factor Correction Market Size to Grow $3.3 billion by 2030 at a CAGR of 5.5%

Power Factor Correction Market
The global Power Factor Correction Market is projected to reach USD 3.3 billion by 2030 from an estimated USD 2.4 billion in 2024, at a CAGR of 5.5% during the forecast period. The demand for power factor is on the rise due to various factors such as the globally increasing level of energy consumption, fostered by the rapid process of industrialization as well as urbanization, is additionally pressuring...