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North America Power Factor Correction Market

Report Code EP 9436
Published in Jun, 2025, By MarketsandMarkets™
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North America Power Factor Correction Market by Reactive Power (0–200 KVAr, 200–500 KVAr, 500–1,500 KVAr, Above 1,500 KVAr), Type (Automatic, Fixed), Sales Channel (Distributors, OEM Direct), Application, and Region - Global Trends & Forecast to 2030

Overview

The North America power factor correction market is projected to reach USD 999.1 million by 2030 from an estimated USD 734.2 million in 2025, at a CAGR of 6.2% during the forecast period (2025–2030). Rising energy costs and stringent regulations are pushing industries like manufacturing, oil & gas, and HVAC to adopt advanced PFC solutions, such as capacitors and automatic control systems, to minimize reactive power, reduce energy losses, and enhance system reliability.

North America Power Factor Correction Market

Attractive Opportunities in the North America Power Factor Correction Market

North America

US is projected to emerge as the largest market for power factor correction in the North America region. The market in the region is driven by improving energy efficiency and reducing energy costs.

The North America power factor correction market is witnessing significant expansion, driven by robust technological advancements, significant investment in renewable energy projects, and a highly developed digital ecosystem.

Product launches, technological advancements, and emergence of new technologies will offer robust opportunities for market players in the next five years.

The growth of the power factor correction market can be attributed to well-developed industrial sector with a high concentration of energy-intensive industries, such as manufacturing and data centers.

High upfront costs associated with industrial PFC systems can be a significant barrier in the region.

Global North America Power Factor Correction Market Dynamics

Driver: Increasing investments in clear energy projects

The global investment in energy transition technologies is significantly boosting the growth of the power factor correction system market. For instance, according to the International Renewable Energy Agency, global investment in energy transition technologies, including energy efficiency, reached USD 2.8 trillion in 2023. This surge in investment is driven by a worldwide shift toward sustainable energy solutions and increasing awareness of the benefits of power factor correction systems.

Governments worldwide actively promote energy efficiency through stringent regulations and initiatives, further propelling the demand for power factor correction systems across various sectors. For instance, the US government has laid down the energy efficiency resource standards (EERS) mandate, which provides a quantified energy efficiency goal for an energy provider or jurisdiction within a predetermined timeframe. Companies are focused on adopting energy-efficient products to enhance the efficiency of electrical power usage by reducing reactive power. The growing need to cut energy consumption and costs is driving the adoption of power factor correction systems worldwide. These systems improve electrical power usage efficiency and support the increasing reliance on renewable energy sources. The rise of renewable energy sources is creating a need for power factor correction systems that can improve their efficiency.

Restraint: Rising deployment of low-voltage PFC systems in industrial facilities

The industrial sector is increasingly adopting low-voltage power factor correction (PFC) systems, driven by a combination of financial, operational, and environmental benefits. One of the primary factors driving this trend is cost savings. Low power factor leads to high electricity bills due to reactive power charges imposed by utility companies. PFC systems help reduce these charges by optimizing energy usage, resulting in significant savings for businesses.

In addition to financial advantages, PFC systems enhance operational efficiency. They facilitate a cleaner and more effective power flow within industrial facilities, allowing for better utilization of existing electrical infrastructure and minimizing the need for costly upgrades. Moreover, improving the power factor through PFC systems increases the capacity of the electrical grid. This additional capacity enables industries to incorporate new equipment or expand their operations without risking overloading the system. Government incentives also play a crucial role in promoting the adoption of PFC systems. Many governments offer tax breaks or rebates to encourage businesses to implement energy-efficient technologies, further motivating industries to invest in PFC solutions.

 

Opportunities: Introduction of incentive schemes by governments for adopting energy-saving technologies

Power factor correction is vital in enhancing energy efficiency and reducing electricity costs. A low power factor can lead to higher energy bills, increased strain on electrical infrastructure, and a shorter lifespan for equipment. Recognizing these issues, governments have initiated programs to incentivize power factor correction, promote sustainable energy practices, and support businesses.

Various energy-saving schemes, such as the NSW Energy Savings Scheme (ESS), offer financial incentives for organizations to invest in power factor correction projects. Under the ESS, companies can earn energy-saving certificates (ESCs) based on the energy savings achieved by installing PFC systems. These certificates can be traded, providing a financial return on investment in PFC systems. In addition to financial incentives, regulatory measures have been established to ensure compliance with power factor standards. Some utilities impose penalties on businesses with low power factors, creating a financial motivation to improve efficiency. Moreover, building codes and energy efficiency standards may mandate a minimum power factor for new constructions or renovations, further driving the adoption of PFC systems. For instance, the US Department of Energy’s voluntary Energy Star guidelines recommend that computing equipment maintain a power factor of at least 0.9 at full load.

Challenges: Complexities associated with integrating PFC systems into existing infrastructure

PFC systems might utilize data formats that are different from those of existing systems. This can lead to difficulties in interpreting and exchanging information, requiring data conversion or mapping processes that can be error-prone and slow. Existing systems might communicate using specific protocols that the PFC system does not understand. This creates a communication barrier, hindering real-time data exchange and potentially causing delays in critical financial processes. Diagnosing and resolving issues become more complex when dealing with interconnected systems. IT teams may need to troubleshoot problems across the existing infrastructure and the new PFC system, extending resolution times and increasing resource demands.

Global North America Power Factor Correction Market Ecosystem Analysis

Key participants in this industry are established and financially stable manufacturers. Some of the major companies in this market include Eaton Corporation plc (Ireland), GE Vernova (US), Schneider Electric (France), ABB (Switzerland), and Gentec (Canada). These companies have distinctive product portfolios, advanced manufacturing technologies, and a strong sales and marketing network.

Top Companies in North America Power Factor Correction Market

Note: The above diagram only shows the representation of the North America Power Factor Correction Market ecosystem; it is not limited to the companies represented above.
Source: Secondary Research and MarketsandMarkets Analysis

 

Industrial segment to be largest application of North America power factor correction market during forecast period

The industrial segment is estimated to be the largest application of the North America power factor correction market throughout the forecast period due to the extensive use of heavy machinery and equipment in industries such as manufacturing, oil & gas, and automotive. These sectors require consistent and efficient power management to minimize energy losses, reduce operational costs, and comply with stringent energy regulations. Power factor correction systems, including capacitors and motors are widely adopted to enhance equipment efficiency, reduce reactive power, and improve overall power quality, making the industrial segment a key contributor to market growth.

0–200 KVAr segment to be largest reactive power segment in North America power factor correction market during forecast period

The 0–200 KVAr segment is anticipated to be the largest reactive power segment in power factor correction market in North America during the forecast period due to its widespread application in small to medium-sized industrial and commercial setups. This range is ideal for addressing the reactive power needs of equipment like motors, pumps, and HVAC systems, which are common across various industries. The affordability, ease of installation, and compatibility of 0–200 KVAr systems with diverse applications make them highly sought after, driving their prominence in the market during the forecast period.

US to account for largest market share during forecast period

The US is estimated to be the largest as well as the fastest-growing market for power factor correction in the North America region. The country experiences strong demand for PFCs due to robust technological advancements, significant investments in renewable energy projects, and a highly developed ecosystem. Key sectors such as manufacturing and data centers are adopting PFCs to reduce risk of overheating and potential downtime.

HIGHEST CAGR (2025–2030)<- /div>
US: FASTEST-GROWING MARKET IN REGION
North America Power Factor Correction Market by region

Recent Developments of North America Power Factor Correction Market

  • In March 2024, Schneider Electric announced a significant investment of USD 140 million to expand its US manufacturing presence, focusing on supporting critical infrastructure, industries, and data center demand. This investment includes transforming and equipping an existing building in Mt. Juliet, Tennessee, and upgrading the Smyrna, Tennessee manufacturing operations to produce custom electrical switchgear and medium-voltage power distribution products.
  • In August 2023, Eaton invested over USD 500 million to increase the manufacturing of electrical solutions and meet the surging demand for these solutions from the North American industries. This substantial investment aims to expedite the energy transition and digitalization in utilities, commercial, healthcare, industrial, and residential sectors.

Key Market Players

List of Top North America Power Factor Correction Market Companies

The North America Power Factor Correction Market is dominated by a few major players that have a wide regional presence. The major players in the North America Power Factor Correction Market are

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Scope of the Report

Report Attribute Details
Market size available for years 2021–2030
Base year considered 2024
Forecast period 2025–2030
Forecast units Value (USD Million) and Volume (Units)
Segments Covered Type, Reactive Power, Sales Channel, Application, and Region
Regions covered North America

Key Questions Addressed by the Report

What is the current size of the North America power factor correction market?

The market size for North America power factor correction market is estimated to be USD 734.2 million in 2025.

What are the major drivers for the North America power factor correction market?

The North America PFC market is driven by growing industrial demand for energy efficiency, rising electricity costs, increasing adoption of renewable energy sources, and a supportive regulatory environment promoting reduced energy losses and improved power quality.

Which will be the largest segment, by type, in the North America power factor correction market during the forecast period?

The PFC market is dominated by the automatic power factor correction segment. These systems are preferred in industrial and commercial applications with fluctuating loads, as they dynamically adjust to maintain optimal power factor, reduce energy losses, and enhance system efficiency.

Which is the largest reactive power in the North America Power factor correction market during the forecast period?

The 0–200 kVAR segment is estimated to account for the largest share of the overall market during the forecast period. This dominance is attributed to the wide use of small to medium-sized PFC systems in commercial buildings, manufacturing units, and agricultural sectors, where they improve power quality and reduce energy costs.

Which is the largest application in the North America power factor correction market during the forecast period?

In North America, the industrial sector is projected to be the leading end user of power factor correction systems throughout the forecast period. This dominance is driven by the sector’s high energy consumption, need for efficient power management, and ongoing efforts to reduce operational costs while complying with energy efficiency regulations

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
18
RESEARCH METHODOLOGY
23
EXECUTIVE SUMMARY
35
PREMIUM INSIGHTS
39
MARKET OVERVIEW
43
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Increasing investments in clean energy projects
    - Rising deployment of low-voltage PFC systems in industrial facilities
    RESTRAINTS
    - High initial installation cost of PFC systems
    OPPORTUNITIES
    - Introduction of incentive schemes by governments for adopting energy-saving technologies
    - Growing inclination toward smart grid deployment
    - Elevating demand for electric vehicles
    CHALLENGES
    - Complexities associated with integrating PFC systems into existing infrastructure
  • 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 5.4 VALUE CHAIN ANALYSIS
  • 5.5 ECOSYSTEM ANALYSIS
  • 5.6 INVESTMENT AND FUNDING SCENARIO
  • 5.7 IMPACT OF AI/GENERATIVE AI ON NORTH AMERICA POWER FACTOR CORRECTION MARKET
    RATIONALE FOR IMPACT LEVELS
  • 5.8 NORTH AMERICA: MACROECONOMIC OUTLOOK
    INTRODUCTION
    GDP TRENDS AND FORECAST
    MANUFACTURING VALUE ADDED (% OF GDP)
    ELECTRICITY PRODUCTION
  • 5.9 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Internet of Things (IoT)
    ADJACENT TECHNOLOGIES
    - Solid-state switching devices
  • 5.10 PATENT ANALYSIS
  • 5.11 TRADE ANALYSIS
    EXPORT SCENARIO (HS CODE 8532)
    IMPORT SCENARIO (HS CODE 8532)
  • 5.12 KEY CONFERENCES AND EVENTS, 2024–2025
  • 5.13 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND OF POWER FACTOR CORRECTION SYSTEM, BY NORTH AMERICA
  • 5.14 TARIFF AND REGULATORY LANDSCAPE
    TARIFF ANALYSIS
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    REGULATORY FRAMEWORK
  • 5.15 PORTER’S FIVE FORCES ANALYSIS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF SUPPLIERS
    BARGAINING POWER OF BUYERS
    THREAT OF NEW ENTRANTS
    INTENSITY OF COMPETITIVE RIVALRY
  • 5.16 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 5.17 CASE STUDY ANALYSIS
    ELIMINATING ENERGY PENALTIES THROUGH STRATEGIC POWER FACTOR CORRECTION
  • 5.18 IMPACT OF 2025 US TARIFF – NORTH AMERICA POWER FACTOR CORRECTION MARKET
    INTRODUCTION
    KEY TARIFF RATES
    PRICE IMPACT ANALYSIS
    IMPACT ON NORTH AMERICA
NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER
75
  • 6.1 INTRODUCTION
  • 6.2 0–200 KVAR
    RISING DEMAND ACROSS SMALL COMMERCIAL APPLICATIONS TO DRIVE SEGMENTAL GROWTH
  • 6.3 200–500 KVAR
    RISING USE IN MEDIUM-SIZED COMMERCIAL BUILDINGS AND INDUSTRIAL FACILITIES TO DRIVE SEGMENTAL GROWTH
  • 6.4 500–1,500 KVAR
    INCREASING FOCUS OF LARGE INDUSTRIAL PLANT OWNERS ON MINIMIZING ENERGY LOSSES TO BOOST DEMAND
  • 6.5 ABOVE 1,500 KVAR
    PRESSING NEED TO STABILIZE VOLTAGE LEVELS ACROSS POWER GRID TO SUPPORT SEGMENTAL GROWTH
NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE
82
  • 7.1 INTRODUCTION
  • 7.2 AUTOMATIC
    ABILITY TO CRAFT EFFICIENT ELECTRICAL SYSTEMS TO BOOST DEMAND
  • 7.3 FIXED
    RISING FOCUS ON ENERGY COST REDUCTION TO SUPPORT SEGMENTAL GROWTH
NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SALES CHANNEL
86
  • 8.1 INTRODUCTION
  • 8.2 DISTRIBUTORS
    ABILITY TO COVER BROADER GEOGRAPHIC AREAS AND ENTER NEW MARKETS AT FASTER RATE TO BOOST SEGMENTAL GROWTH
  • 8.3 OEM DIRECT
    HIGHER UPFRONT COSTS FOR TRAINING SALES TEAM TO LEAD TO SMALLER MARKET SHARE
NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY APPLICATION
90
  • 9.1 INTRODUCTION
  • 9.2 INDUSTRIAL
    RISING USE OF POWER-INTENSIVE INDUSTRIAL EQUIPMENT TO BOOST DEMAND
  • 9.3 RENEWABLE
    INTEGRATION OF RENEWABLE ENERGY SOURCES INTO POWER GRID TO PROPEL MARKET
  • 9.4 COMMERCIAL
    INCREASING DEMAND FOR ENERGY EFFICIENCY AND COST REDUCTION IN COMMERCIAL BUILDINGS TO DRIVE MARKET
  • 9.5 DATA CENTER
    SURGING NEED FOR EFFICIENT AND RELIABLE DATA CENTER INFRASTRUCTURE TO DRIVE MARKET GROWTH
  • 9.6 EV CHARGING
    INCREASING INVESTMENT AND RAPID EXPANSION OF ELECTRIC VEHICLES TO SUPPORT MARKET GROWTH
NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REGION
98
  • 10.1 NORTH AMERICA
    US
    - Increasing focus on sustainable energy production using renewable sources to boost demand
    CANADA
    - Rising demand from automotive sector to augment market growth
    MEXICO
    - Thriving industrial sector to drive demand
COMPETITIVE LANDSCAPE
106
  • 11.1 OVERVIEW
  • 11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2023
  • 11.3 MARKET SHARE ANALYSIS, 2023
  • 11.4 REVENUE ANALYSIS, 2019–2023
  • 11.5 BRAND/PRODUCT COMPARISON
  • 11.6 COMPANY VALUATION AND FINANCIAL METRICS, 2024
  • 11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING COMPANIES
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company footprint
    - Reactive power footprint
    - Application footprint
    - Type footprint
  • 11.8 COMPETITIVE SCENARIO
    PRODUCT LAUNCHES
    OTHER DEVELOPMENTS
COMPANY PROFILES
120
  • 12.1 KEY PLAYERS
    SCHNEIDER ELECTRIC
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    EATON
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    GE VERNOVA
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    ABB
    - Business overview
    - Products offered
    - MnM view
    HITACHI ENERGY LTD.
    - Business overview
    - Products offered
    - Recent developments
    - MnM view
    GENTEC
    - Business overview
    - Products offered
    - Recent developments
    TCI, LLC
    - Business overview
    - Products offered
    POWERSIDE
    - Business overview
    - Products offered
    COS PHI
    - Business overview
    - Products offered
    CONTROLLIX CORPORATION
    - Business overview
    - Products offered
    CIRCUTOR
    - Business overview
    - Products offered
APPENDIX
152
  • 13.1 INSIGHTS FROM INDUSTRY EXPERTS
  • 13.2 DISCUSSION GUIDE
  • 13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 13.4 CUSTOMIZATION OPTIONS
  • 13.5 RELATED REPORTS
  • 13.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 INCLUSIONS AND EXCLUSIONS, BY REACTIVE POWER
  • TABLE 2 INCLUSIONS AND EXCLUSIONS, BY TYPE
  • TABLE 3 INCLUSIONS AND EXCLUSIONS, BY SALES CHANNEL
  • TABLE 4 INCLUSIONS AND EXCLUSIONS, BY APPLICATION
  • TABLE 5 NORTH AMERICA POWER FACTOR CORRECTION MARKET SNAPSHOT
  • TABLE 6 ROLE OF COMPANIES IN NORTH AMERICA POWER FACTOR CORRECTION ECOSYSTEM
  • TABLE 7 WORLD GDP GROWTH PROJECTION, 2021–2028 (USD TRILLION)
  • TABLE 8 MANUFACTURING VALUE ADDED (% OF GDP), 2023
  • TABLE 9 ELECTRICITY PRODUCTION, BY COUNTRY, 2023 (TWH)
  • TABLE 10 POWER FACTOR CORRECTION MARKET: LIST OF MAJOR PATENTS, 2021–2024
  • TABLE 11 EXPORT SCENARIO FOR HS CODE 8532-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND)
  • TABLE 12 IMPORT SCENARIO FOR HS CODE 8532-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD THOUSAND)
  • TABLE 13 NORTH AMERICA POWER FACTOR CORRECTION MARKET: LIST OF CONFERENCES AND EVENTS, 2024–2025
  • TABLE 14 INDICATIVE PRICING TREND OF CAPACITOR BANKS USED IN POWER FACTOR CORRECTION, BY REACTIVE POWER, 2023 (USD PER UNIT)
  • TABLE 15 AVERAGE SELLING PRICE TREND OF POWER FACTOR CORRECTION SYSTEM, BY REGION, 2021–2023 (USD PER UNIT)
  • TABLE 16 IMPORT TARIFF FOR HS CODE 8532-COMPLIANT PRODUCTS, 2023
  • TABLE 17 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 18 NORTH AMERICA POWER FACTOR CORRECTION REGULATIONS, BY REGULATORY BODY
  • TABLE 19 NORTH AMERICA POWER FACTOR CORRECTION REGULATIONS, BY COUNTRY
  • TABLE 20 NORTH AMERICA POWER FACTOR CORRECTION MARKET: IMPACT OF PORTER’S FIVE FORCES
  • TABLE 21 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)
  • TABLE 22 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
  • TABLE 23 NORTH POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2021–2023 (USD MILLION)
  • TABLE 24 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2024–2030 (USD MILLION)
  • TABLE 25 NORTH POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2021–2023 (UNITS)
  • TABLE 26 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2024–2030 (UNITS)
  • TABLE 27 0–200 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 28 0–200 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 29 200–500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 30 200–500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 31 500–1,500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 32 500–1,500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 33 ABOVE 1,500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 34 ABOVE 1,500 KVAR: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 35 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2021–2023 (USD MILLION)
  • TABLE 36 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2024–2030 (USD MILLION)
  • TABLE 37 AUTOMATIC: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 38 AUTOMATIC: POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 39 FIXED: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 40 FIXED: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 41 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SALES CHANNEL, 2021–2023 (USD MILLION)
  • TABLE 42 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SALES CHANNEL, 2024–2030 (USD MILLION)
  • TABLE 43 DISTRIBUTORS: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 44 DISTRIBUTORS: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 45 OEM DIRECT: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 46 OEM DIRECT: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 47 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY APPLICATION, 2021–2023 (USD MILLION)
  • TABLE 48 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY APPLICATION, 2024–2030 (USD MILLION)
  • TABLE 49 INDUSTRIAL: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 50 INDUSTRIAL: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 51 INDUSTRIAL: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY END USER, 2021–2023 (USD MILLION)
  • TABLE 52 INDUSTRIAL: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY END USER, 2024–2030 (USD MILLION)
  • TABLE 53 RENEWABLE: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 54 RENEWABLE: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 55 RENEWABLE: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SOURCE, 2021–2023 (USD MILLION)
  • TABLE 56 RENEWABLE: POWER FACTOR CORRECTION MARKET, BY SOURCE, 2024–2030 (USD MILLION)
  • TABLE 57 COMMERCIAL: POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 58 COMMERCIAL: POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 59 DATA CENTER: POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 60 DATA CENTER: POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 61 EV CHARGING: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 62 EV CHARGING: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 63 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2021–2023 (USD MILLION)
  • TABLE 64 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY REACTIVE POWER, 2024–2030 (USD MILLION)
  • TABLE 65 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2021–2023 (USD MILLION)
  • TABLE 66 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2024–2030 (USD MILLION)
  • TABLE 67 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SALES CHANNEL, 2021–2023 (USD MILLION)
  • TABLE 68 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY SALES CHANNEL, 2024–2030 (USD MILLION)
  • TABLE 69 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY APPLICATION, 2021–2023 (USD MILLION)
  • TABLE 70 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY APPLICATION, 2024–2030 (USD MILLION)
  • TABLE 71 NORTH AMERICA POWER FACTOR CORRECTION MARKET FOR RENEWABLE APPLICATIONS, BY SOURCE, 2021–2023 (USD MILLION)
  • TABLE 72 NORTH AMERICA POWER FACTOR CORRECTION MARKET FOR RENEWABLE APPLICATIONS, BY SOURCE, 2024–2030 (USD MILLION)
  • TABLE 73 NORTH AMERICA POWER FACTOR CORRECTION MARKET FOR INDUSTRIAL APPLICATIONS, BY END USER, 2021–2023 (USD MILLION)
  • TABLE 74 NORTH AMERICA POWER FACTOR CORRECTION MARKET FOR INDUSTRIAL APPLICATIONS, BY END USER, 2024–2030 (USD MILLION)
  • TABLE 75 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2021–2023 (USD MILLION)
  • TABLE 76 NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION)
  • TABLE 77 US: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2021–2023 (USD MILLION)
  • TABLE 78 US: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2024–2030 (USD MILLION)
  • TABLE 79 CANADA: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2021–2023 (USD MILLION)
  • TABLE 80 CANADA: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2024–2030 (USD MILLION)
  • TABLE 81 MEXICO: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2021–2023 (USD MILLION)
  • TABLE 82 MEXICO: NORTH AMERICA POWER FACTOR CORRECTION MARKET, BY TYPE, 2024–2030 (USD MILLION)
  • TABLE 83 NORTH AMERICA POWER FACTOR CORRECTION MARKET: OVERVIEW OF KEY STRATEGIES ADOPTED BY MAJOR PLAYERS, JANUARY 2019–AUGUST 2023
  • TABLE 84 NORTH AMERICA POWER FACTOR CORRECTION MARKET: DEGREE OF COMPETITION, 2023
  • TABLE 85 NORTH AMERICA POWER FACTOR CORRECTION MARKET: REACTIVE POWER FOOTPRINT
  • TABLE 86 NORTH AMERICA POWER FACTOR CORRECTION MARKET: APPLICATION FOOTPRINT
  • TABLE 87 NORTH AMERICA POWER FACTOR CORRECTION MARKET: TYPE FOOTPRINT
  • TABLE 88 NORTH AMERICA POWER FACTOR CORRECTION MARKET: PRODUCT LAUNCHES, JANUARY 2019–JUNE 2024
  • TABLE 89 NORTH AMERICA POWER FACTOR CORRECTION MARKET: OTHER DEVELOPMENTS
  • TABLE 90 SCHNIEDER ELECTRIC: COMPANY OVERVIEW
  • TABLE 91 SCHNIEDER ELECTRIC: PRODUCTS OFFERED
  • TABLE 92 SCHNEIDER ELECTRIC: RECENT DEVELOPMENTS
  • TABLE 93 EATON: COMPANY OVERVIEW
  • TABLE 94 EATON: PRODUCTS OFFERED
  • TABLE 95 EATON: DEVELOPMENTS
  • TABLE 96 GE VERNOVA: COMPANY OVERVIEW
  • TABLE 97 GE VERNOVA: PRODUCTS OFFERED
  • TABLE 98 GE VERNOVA: DEALS
  • TABLE 99 ABB: COMPANY OVERVIEW
  • TABLE 100 ABB: PRODUCTS OFFERED
  • TABLE 101 HITACHI ENERGY LTD.: COMPANY OVERVIEW
  • TABLE 102 HITACHI ENERGY LTD.: PRODUCTS OFFERED
  • TABLE 103 HITACHI ENERGY: DEVELOPMENTS
  • TABLE 104 GENTEC: COMPANY OVERVIEW
  • TABLE 105 GENTEC: PRODUCTS OFFERED
  • TABLE 106 GENTEC: DEVELOPMENTS
  • TABLE 107 TCI, LLC: COMPANY OVERVIEW
  • TABLE 108 TCI, LLC: PRODUCTS OFFERED
  • TABLE 109 POWERSIDE: COMPANY OVERVIEW
  • TABLE 110 POWERSIDE: PRODUCTS OFFERED
  • TABLE 111 COS PHI: COMPANY OVERVIEW
  • TABLE 112 COS PHI: PRODUCTS OFFERED
  • TABLE 113 CONTROLLIX CORPORATION: COMPANY OVERVIEW
  • TABLE 114 CONTROLLIX CORPORATION: PRODUCTS OFFERED
  • TABLE 115 CIRCUTOR: COMPANY OVERVIEW
  • TABLE 116 CIRCUTOR: PRODUCTS OFFERED
LIST OF FIGURES
 
  • FIGURE 1 NORTH AMERICA: POWER FACTOR CORRECTION MARKET SEGMENTATION AND REGIONAL SCOPE
  • FIGURE 2 NORTH AMERICA POWER FACTOR CORRECTION MARKET: RESEARCH DESIGN
  • FIGURE 3 NORTH AMERICA POWER FACTOR CORRECTION MARKET: DATA TRIANGULATION
  • FIGURE 4 NORTH AMERICA POWER FACTOR CORRECTION MARKET: BOTTOM-UP APPROACH
  • FIGURE 5 NORTH AMERICA POWER FACTOR CORRECTION MARKET: TOP-DOWN APPROACH
  • FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF POWER FACTOR CORRECTION SYSTEMS
  • FIGURE 7 NORTH AMERICA POWER FACTOR CORRECTION MARKET: SUPPLY-SIDE ANALYSIS
  • FIGURE 8 DISTRIBUTORS TO BE LARGER SALES CHANNEL SEGMENT IN 2024
  • FIGURE 9 AUTOMATIC TO BE LARGER TYPE SEGMENT IN 2024
  • FIGURE 10 INDUSTRIAL APPLICATION SEGMENT TO LEAD MARKET IN 2024
  • FIGURE 11 0–200 KVAR SEGMENT TO HOLD MAJORITY OF MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 12 INCREASING DEMAND FOR ENERGY EFFICIENCY ACROSS INDUSTRIAL SECTOR TO DRIVE MARKET
  • FIGURE 13 DISTRIBUTORS AND AUTOMATIC SEGMENTS TO HOLD LARGEST MARKET SHARE IN 2024
  • FIGURE 14 DISTRIBUTORS SEGMENT TO CAPTURE LARGER MARKET SHARE IN 2030
  • FIGURE 15 AUTOMATIC SEGMENT TO DOMINATE MARKET IN 2030
  • FIGURE 16 0–200 KVAR SEGMENT TO HOLD LARGEST MARKET SHARE IN 2030
  • FIGURE 17 INDUSTRIAL SEGMENT TO LEAD MARKET IN 2030
  • FIGURE 18 NORTH AMERICA POWER FACTOR CORRECTION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 19 GLOBAL ENERGY INVESTMENTS IN CLEAN ENERGY AND FOSSIL FUELS, 2015–2023
  • FIGURE 20 WORLDWIDE ANNUAL INVESTMENT IN ENERGY EFFICIENCY BY COMPANIES IN INDUSTRIAL SECTOR, 2020–2022
  • FIGURE 21 INVESTMENTS IN POWER GRID INFRASTRUCTURE DEVELOPMENT, 2015–2022
  • FIGURE 22 PUBLICLY AVAILABLE EV CHARGING POINTS IN US, FAST VS. SLOW, 2015–2023
  • FIGURE 23 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS
  • FIGURE 24 NORTH AMERICA POWER FACTOR CORRECTION MARKET: VALUE CHAIN ANALYSIS
  • FIGURE 25 NORTH AMERICA POWER FACTOR CORRECTION MARKET: ECOSYSTEM ANALYSIS
  • FIGURE 26 FUNDING SCENARIO FOR TOP PLAYERS
  • FIGURE 27 IMPACT OF AI/GENERATIVE AI ON POWER FACTOR CORRECTION SUPPLY CHAIN
  • FIGURE 28 POWER FACTOR CORRECTION MARKET: PATENTS APPLIED AND GRANTED, 2014–2023
  • FIGURE 29 EXPORT DATA FOR HS CODE 8532-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2019–2023
  • FIGURE 30 IMPORT DATA FOR HS CODE 8532-COMPLIANT PRODUCTS FOR TOP 5 COUNTRIES, 2019–2023
  • FIGURE 31 AVERAGE SELLING PRICE TREND OF POWER FACTOR CORRECTION SYSTEM, BY NORTH AMERICA, 2021–2023
  • FIGURE 32 NORTH AMERICA POWER FACTOR CORRECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 33 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
  • FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
  • FIGURE 35 NORTH AMERICA POWER FACTOR CORRECTION MARKET SHARE, BY REACTIVE POWER, 2023
  • FIGURE 36 NORTH AMERICA POWER FACTOR CORRECTION MARKET SHARE, BY TYPE, 2023
  • FIGURE 37 NORTH AMERICA POWER FACTOR CORRECTION MARKET SHARE, BY SALES CHANNEL, 2023
  • FIGURE 38 NORTH AMERICA POWER FACTOR CORRECTION MARKET SHARE, BY APPLICATION, 2023
  • FIGURE 39 NORTH AMERICA POWER FACTOR CORRECTION MARKET SHARE ANALYSIS, 2023
  • FIGURE 40 NORTH AMERICA POWER FACTOR CORRECTION MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023
  • FIGURE 41 BRAND COMPARISON
  • FIGURE 42 COMPANY VALUATION
  • FIGURE 43 FINANCIAL METRICS
  • FIGURE 44 NORTH AMERICA POWER FACTOR CORRECTION MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 45 NORTH AMERICA POWER FACTOR CORRECTION MARKET: COMPANY FOOTPRINT
  • FIGURE 46 SCHNIEDER ELECTRIC: COMPANY SNAPSHOT
  • FIGURE 47 EATON: COMPANY SNAPSHOT
  • FIGURE 48 GE VERNOVA: COMPANY SNAPSHOT
  • FIGURE 49 ABB: COMPANY SNAPSHOT
  • FIGURE 50 HITACHI ENERGY LTD.: COMPANY SNAPSHOT

This research study involves the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg L.P., Factiva, and ICIS, to identify and collect information useful for this technical, market-oriented, and commercial study of the North America power factor correction market. Primary sources are mainly industry experts from core and related industries, preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the value chain of this industry. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess growth prospects of the market.

Secondary Research

Secondary sources include annual reports, press releases, and investor presentations of companies; directories and databases, which include D&B, Bloomberg, and Factiva; white papers and articles from recognized authors, and publications and databases from associations, such as the International Energy Agency (IEA), the US Energy Information Administration (EIA), the International Renewable Energy Agency (IRENA), and the National Electrical Manufacturers Association (NEMA). Secondary research has been used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology-oriented perspectives. A database of the key industry leaders has also been prepared using secondary research.

Primary Research

In the primary research process, various sources from both the supply and demand sides have been interviewed to obtain and verify qualitative and quantitative information for this report and analyze prospects. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related executives from various leading companies and organizations operating in the power factor correction market. Primary sources from the demand side include experts and key persons.

After the complete market engineering process (which includes calculations of market statistics, market breakdown, market size estimations, market forecasts, and data triangulation), extensive primary research has been conducted to gather information and verify and validate the critical numbers arrived at. Primary research has also been conducted to identify the segmentation, applications, Porter’s Five Forces, key players, competitive landscape, and key market dynamics such as drivers, opportunities, challenges, industry trends, and strategies adopted by key players.

North America Power Factor Correction Market Size, and Share

Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both the top-down and bottom-up approaches have been extensively used along with several data triangulation methods to estimate and forecast the overall market segments listed in this report.

The key players in the market have been identified through secondary research, and their market share in respective regions has been determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of the key market players and extensive interviews for insights from industry leaders such as CEOs, vice presidents, directors, and marketing executives. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

North America Power Factor Correction Market : Top-Down and Bottom-Up Approach

North America Power Factor Correction Market Top Down and Bottom Up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. Data triangulation and market breakdown procedures have been used wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for all segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has been validated using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—the top-down approach, the bottom-up approach, and expert interviews. When the values arrived at from the three points matched, the data was assumed to be correct.

Market Definition

The power factor correction refers to the utilization of capacitor banks that are designed to improve the efficiency of an electrical power system by compensating for the lagging power factor caused by inductive loads such as motors, transformers, and other inductive devices. Capacitor banks are strategically installed to supply reactive power (kVArs) to the system, which reduces the amount of reactive power that needs to be supplied by the utility, thereby improving the power factor. These solutions improve the power factor in electrical systems, reducing energy losses, enhancing efficiency, and minimizing penalties from utilities.

Stakeholders

  • Suppliers of raw materials
  • Technology investors
  • Manufacturers of a wide variety of power factor correction systems
  • Integrator and service providers of power factor correction systems
  • Component providers
  • System integrators
  • Consulting service providers
  • Distributors, resellers, and traders
  • Organizations, forums, alliances, and associations
  • State and national regulatory authorities
  • Venture capital firms
  • Financial organizations
  • Healthcare organizations
  • Research institutes and organizations
  • Energy associations
  • Environment associations
  • Energy efficiency consultants

Report Objectives

  • To describe and forecast the North America power factor correction market in terms of value and volume based on reactive power, type, sales channel, application, and region
  • To describe and forecast the North America power factor correction market in terms of volume based on region
  • To provide detailed information about the key factors such as drivers, restraints, opportunities, and challenges influencing the growth of the North America power factor correction market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total North America power factor correction market
  • To study the complete supply chain and allied industry segments and perform a supply chain analysis of the North America power factor correction market landscape
  • To study market trends, patent analysis, trade analysis, tariff and regulatory landscape, Porter’s Five Forces analysis, ecosystem mapping, technologies, investment and funding scenario, key stakeholders & buying criteria, the impact of Gen AI/AI, and case studies pertaining to North America power factor correction market
  • To analyze the opportunities for various stakeholders by identifying the high-growth segments of the North America power factor correction market
  • To profile the key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive developments, such as contracts, collaborations, expansions, product launches, investments, and acquisitions, in the North America power factor correction market

Available Customizations

MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Geographic Analysis as per Feasibility

  • Further breakdown of the PFC market, by country

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Previous Versions of this Report

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Growth opportunities and latent adjacency in North America Power Factor Correction Market

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