The Latin America, Middle East and Africa Capacitor Banks Market would witness market growth of 5.6% CAGR during the forecast period (2025-2032).
The Brazil market dominated the LAMEA Capacitor Banks Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $235.7 million by 2032. The Argentina market is showcasing a CAGR of 6.2% during (2025 - 2032). Additionally, The UAE market would register a CAGR of 4.3% during (2025 - 2032). The Brazil and UAE led the LAMEA Capacitor Banks Market by Country with a market share of 27.8% and 9.1% in 2024. The Saudi Arabia market is expected to witness a CAGR of 6.4% during throughout the forecast period.
At first, capacitor banks in the LAMEA area were used in industrial sectors, including mining, oil and gas, and manufacturing, to keep the power factor up and avoid utility surcharges. They were mostly used at low to medium voltage levels. But as the power demand grew and the grid became more complicated, these simple solutions showed their flaws. This led to huge expenditures by utilities and governments to improve transmission infrastructure. For example, ABB installed high-voltage 765 kV capacitor banks for South Africa's Eskom and 13.8 kV installations in many of Saudi Arabia's substations. At the same time, the rise of renewable energy and electrification led to the use of sophisticated reactive power solutions, such as dynamic compensation technologies like STATCOMs and SVCs, especially in mining and industrial areas. These technologies helped to enhance voltage stability and reduce harmonics.
ABB, Siemens Energy, and Hitachi ABB Power Grids are some of the most important OEMs. They have strong regional strategies that use both classic fixed capacitor banks and dynamic FACTS-integrated systems to adjust voltage and filter harmonics when the load changes. Their products are made to work with local grid codes and include digital integration for remote monitoring and better operational dependability. While regional manufacturers provide simpler fixed capacitor solutions to cost-sensitive industrial sectors, the complexity and regulatory requirements of utility-grade projects mean that big OEMs are in charge of high-voltage and FACTS-enabled installations. Their extensive service and customisation options solidify their position as the leader in LAMEA's growing capacitor bank industry.
Based on Voltage, the market is segmented into Medium [10 kV - 69 kV], High [>69 kV], and Low [<10 kV]. With a compound annual growth rate (CAGR) of 3.7% over the projection period, the Medium [10 kV - 69 kV] Market, dominate the UAE Capacitor Banks Market by Voltage in 2024 and would be a prominent market until 2032. From 2025 to 2032 The Low [<10 kV] market is expected to witness a CAGR of 5% during (2025 - 2032).
Based on Application, the market is segmented into Power Factor Correction, Harmonic Filter, Voltage Regulation, Renewable Integration, Industrial Application, Data Centers, and Other Application. The Power Factor Correction market segment dominated the Brazil Capacitor Banks Market by Application is expected to grow at a CAGR of 3.4 % during the forecast period thereby continuing its dominance until 2032. Also, The Data Centers market is anticipated to grow as a CAGR of 6.2 % during the forecast period during (2025 - 2032).
Free Valuable Insights: The Worldwide Capacitor Banks Market is Projected to reach USD 6.43 Billion by 2032, at a CAGR of 4.5%
The market for capacitor banks in Brazil is growing quickly because of big expenditures in power infrastructure, modernizing industry, and integrating renewable energy. Capacitor banks help utilities and heavy industries increase voltage stability, lower transmission losses, and raise the power factor throughout the country's enormous, complicated grid, which is mostly powered by hydroelectricity but has problems because of regional differences. The increasing use of distributed energy resources, especially solar and wind, makes the necessity for reactive power correction and smart capacitor technology even clearer. Key players in Brazil, like WEG, compete with global companies like Siemens and ABB by finding a balance between cost-effective local production and cutting-edge solutions. This helps Brazil's larger efforts to improve energy efficiency and smart grids.
By Voltage
By Application
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 