Power Factor Correction (PFC) Capacitors: A Growth Market for the Next Decade
Introduction To Power Factor Correction Capacitors:Power factor correction capacitor markets were worth an estimated $1 billion USD worldwide in 2011. We expect the power factor correction segment of the global market, especially for power transmission and distribution, industrial power factor correction and motor run applications to grow significantly over the next decade, due to the increased global demand for power efficiency in both industrialized and emerging economies worldwide. Paumanok Publications, Inc. notes that governments of both the established and emerging economies are beginning to draw direct correlations between healthy economies and efficient power generation, transmission and distribution.
What is Power Factor and Why Does it Need Correcting?In an electric power system, a load with a low power factor draws more current than a load with a high power factor for the same amount of useful power transferred. The higher currents increase the energy lost in the distribution system and must be corrected. The preferred method of correcting power factor is through the placement of capacitors throughout the system- at the point of transmission, distribution or where the load occurs (i.e. mounted on an electric motor or in a lighting ballast).