The UK market for fixed capacitors intended for 50/60 Hz circuits with a reactive power handling capacity of more than 0.5 kVAr is on a steady growth trajectory. In 2023, the production value stood at an estimated level that has been surpassed by the forecasted values for 2024 onwards. From 2024 to 2028, the market is expected to experience a consistent year-on-year increase in value, reflecting a robust demand with a notable compound annual growth rate over this period. This sustained growth could be indicative of increasing industrial and residential reliance on energy-efficient electrical systems.
Looking ahead, potential trends to monitor include:
- Technological advancements in capacitor performance and efficiency.
- Regulatory shifts towards energy conservation and emission reductions.
- Emerging applications in renewable energy systems and smart grids.
- Macroeconomic factors influencing manufacturing and energy sectors.
