Shunt Capacitor Market Share

North American Market Forecast   

North America industry is set to dominate majority revenue share by 2037, on the back of rapid urbanization, an increase in industrial and manufacturing units backed by increased railways, metros, high-speed trains, IT hubs, and commercial centers in developing countries. The Federal Railroad Administration in June 2022 released a budget of USD 368 million for 46 projects in 32 states of Columbia district in Consolidated Rail Infrastructure and Safety Improvements grant program funds. About 46.3% i.e.,3.6 million people reported using a bus, 37.7% used subway or elevated rail, 11.8% used commuter rail or long-distance train, 3.1% take street cars or trolleys, and 1% used ferryboat as primary commuting mode in 2021.

APAC Market Statistics

Further, the market in the Asia Pacific region is estimated to grow owing to the factors such as growing urbanization which is further boosting the development of infrastructure. Additionally, the demand for renewable and sustainable energy is increasing which is also estimated to boost the market growing in this region. Moreover, the focus of government on rural electrification is growing in this region which is estimated to have positive impact on the demand for shunt capacitor. Also, the shunt capacitor is necessary for an effective, dependable, and steady energy supply in the growing number of metros, railroads, business centers, IT hubs, and high-speed trains. Therefore, the development of these applications in this region the market is expected to grow.