North America Power Factor Correction Market to Reach $999.1 Million by 2030, Led by Eaton, GE Vernova, Schneider Electric, ABB, and Gentec

The North America power factor correction market is projected to reach $999.1 million by 2030, growing at a CAGR of 6.2% from 2025 to 2030. Eaton, GE Vernova, Schneider Electric, ABB, and Gentec are key players in the market. The OEM direct segment is expected to be the fastest-growing segment, while the automatic segment is the largest type in the market. The US is projected to be the fastest-growing market in the region.

The North America power factor correction market is projected to reach $999.1 million by 2030, growing at a compound annual growth rate (CAGR) of 6.2% from 2025 to 2030 [1]. This robust growth is driven by increasing demand for energy efficiency and sustainable practices across various industries. Key players in the market include Eaton, GE Vernova, Schneider Electric, ABB, and Gentec.

The market is segmented into OEM direct and automatic segments. The OEM direct segment is expected to be the fastest-growing, driven by the increasing adoption of real-time power factor correction systems. The automatic segment, however, remains the largest type in the market, accounting for a significant portion of the overall market share.

The United States is projected to be the fastest-growing market in the region, primarily due to advanced technological adoption and stringent energy regulations. The country's focus on energy efficiency and sustainability has created a favorable environment for the growth of power factor correction systems.

Several trends are influencing the market, including the integration of IoT and smart grid systems, the adoption of AI and machine learning for predictive maintenance, and the increasing emphasis on energy efficiency regulations. These trends are propelling significant growth in the power factor correction market.

Key companies leading the market include Unity Controls, Neptune India, and NAAC Energy. These companies offer advanced automated and intelligent systems that cater to various sectors, ensuring compliance with energy regulations. New entrants like Helios Power Solutions and Trinity Energy bring fresh perspectives and technological advancements, focusing on sustainability and integration with smart grid solutions.

The market is expected to witness significant growth across various regions, with North America and Europe leading the way. North America, particularly the United States and Canada, is forecasted to dominate the market due to advanced technological adoption, accounting for approximately 30% of global market share [2]. Europe, led by Germany, France, and the U.K., follows closely with around 25% share, driven by stringent energy regulations.

In conclusion, the North America power factor correction market is poised for substantial growth, driven by increasing demand for energy efficiency and sustainable practices. Key players and innovative technologies are shaping the market, with significant growth expected in the coming years.

References:
[1] https://www.linkedin.com/pulse/real-time-power-factor-correction-system-market-forecast-t9ame
[2] https://www.openpr.com/news/4138616/how-the-power-factor-correction-market-will-evolve-by-2032