North America Capacitor Banks Market Size, Share & Industry Analysis Report By Voltage (Medium [10 kV - 69 kV], High [>69 kV], and Low [<10 kV]), By Application (Power Factor Correction, Harmonic Filter, Voltage Regulation, Renewable Integration, Industrial Application, Data Centers, and Other Application), By Country and Growth Forecast, 2025 - 2032

The North America Capacitor Banks Market would witness market growth of 3.9% CAGR during the forecast period (2025-2032).

The US market dominated the North America Capacitor Banks Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $1,476.9 million by 2032. The Canada market is experiencing a CAGR of 6.4% during (2025 - 2032). Additionally, The Mexico market would exhibit a CAGR of 5% during (2025 - 2032). The US and Canada led the North America Capacitor Banks Market by Country with a market share of 76.1% and 10.2% in 2024.

Capacitor banks in North America have gone from simple, stationary devices that were manually turned on and off to more complex, automated assets that are essential to current grid management. The DOE Smart Grid Investment Grant (SGIG) experiments demonstrated that using automated capacitor banks with voltage regulators together may improve feeder voltage stability, reduce losses by approximately 4%, and delay expensive infrastructure upgrades. Utilities like Southern Company and Duke Energy have leveraged these improvements. OEMs like Schneider Electric have created smart capacitor bank solutions with built-in Modbus communication, real-time monitoring, harmonic mitigation, and modular, certified hardware designs that are easy to integrate into Volt/VAR control and Conservation Voltage Reduction (CVR) strategies.

The Power Logic PFC series from Schneider Electric is a good example of how the market is moving toward capacitor banks that are suitable for IoT and automation. These banks offer better operational visibility, remote control, and proactive fault detection. Flexible deployment in industrial and utility environments is possible since the designs are compliant with UL/CSA requirements, employ detuned reactors for harmonic filtering, and can be scaled up or down. This combination of digital intelligence, modular hardware, and compatibility with utility smart grid programs meets the rising need for dynamic, coordinated reactive power management. As utilities use more automated Volt/VAR control and data-driven energy management, Schneider's integrated strategy makes it a market leader that can handle both old and new problems with distribution systems.

Voltage Outlook

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 4.4% over the projection period, the Medium [10 kV - 69 kV] Market, dominate the Mexico 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 5.9% during (2025 - 2032).

Application Outlook

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 US Capacitor Banks Market by Application is expected to grow at a CAGR of 2.3 % during the forecast period thereby continuing its dominance until 2032. Also, The Industrial Application market is anticipated to grow as a CAGR of 4.5 % during the forecast period during (2025 - 2032).

Free Valuable Insights: The Capacitor Banks Market is Predict to reach USD 6.43 Billion by 2032, at a CAGR of 4.5%

Country Outlook

The United States dominates the North American capacitor banks market, driven by its extensive electrical infrastructure, aging grid systems, and stringent energy efficiency regulations. Government initiatives like the DOE’s Grid Modernization Initiative and FERC policies promote the deployment of capacitor banks to enhance voltage regulation and reduce transmission losses amid growing renewable energy integration. Utilities such as Duke Energy and Southern Company are investing in advanced, smart capacitor banks featuring real-time switching and IoT-based monitoring, supporting digital substations and improved power quality. Industrial sectors and data centers further contribute to demand, while leading players like ABB, Eaton, and GE Vernova offer innovative, modular solutions tailored for modern grid challenges.

List of Key Companies Profiled

• Eaton Corporation plc
• ABB Ltd.
• Siemens AG
• Schneider Electric SE
• General Electric Company
• Hitachi Energy Ltd. (Hitachi, Ltd.)
• Bharat Heavy Electricals Ltd.
• Mitsubishi Electric Corporation
• Powerside
• Larsen & Toubro Limited

North America Capacitor Banks Market Report Segmentation

By Voltage

• Medium [10 kV - 69 kV]
• High [>69 kV]
• Low [<10 kV]

By Application

• Power Factor Correction
• Harmonic Filter
• Voltage Regulation
• Renewable Integration
• Industrial Application
• Data Centers
• Other Application

By Country

• US
• Canada
• Mexico
• Rest of North America

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Capacitor Banks Market, by Voltage
1.4.2 North America Capacitor Banks Market, by Application
1.4.3 North America Capacitor Banks Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance
2.1 Key Highlights

Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges

Chapter 4. Market Trends – Capacitor Banks Market
Chapter 5. State of Competition – Capacitor Banks Market
Chapter 6. Product Life Cycle (PLC) – Capacitor Banks Market
Chapter 7. Market Consolidation Analysis – Capacitor Banks Market
Chapter 8. Competition Analysis – Global
8.1 Market Share Analysis, 2024
8.2 Porter Five Forces Analysis

Chapter 9. Value Chain Analysis – Capacitor Banks Market
9.1 Product Design & Engineering
9.2 Raw Material Sourcing
9.3 Component Manufacturing
9.4 Assembly and System Integration
9.5 Distribution and Logistics
9.6 Installation and Commissioning
9.7 Customer Training and Education
9.8 Maintenance and Monitoring Services
9.9 After-Sales Support and Spare Parts

Chapter 10. Key Customer Criteria – Capacitor Banks Market
Chapter 11. North America Capacitor Banks Market by Voltage
11.1 North America Medium [10 kV - 69 kV] Market by Country
11.2 North America High [>69 kV] Market by Country
11.3 North America Low [<10 kV] Market by Country

Chapter 12. North America Capacitor Banks Market by Application
12.1 North America Power Factor Correction Market by Country
12.2 North America Harmonic Filter Market by Country
12.3 North America Voltage Regulation Market by Country
12.4 North America Renewable Integration Market by Country
12.5 North America Industrial Application Market by Country
12.6 North America Data Centers Market by Country
12.7 North America Other Application Market by Country

Chapter 13. North America Capacitor Banks Market by Country
13.1 US Capacitor Banks Market
13.1.1 US Capacitor Banks Market by Voltage
13.1.2 US Capacitor Banks Market by Application
13.2 Canada Capacitor Banks Market
13.2.1 Canada Capacitor Banks Market by Voltage
13.2.2 Canada Capacitor Banks Market by Application
13.3 Mexico Capacitor Banks Market
13.3.1 Mexico Capacitor Banks Market by Voltage
13.3.2 Mexico Capacitor Banks Market by Application
13.4 Rest of North America Capacitor Banks Market
13.4.1 Rest of North America Capacitor Banks Market by Voltage
13.4.2 Rest of North America Capacitor Banks Market by Application

Chapter 14. Company Profiles
14.1 Eaton Corporation PLC
14.1.1 Company Overview
14.1.2 Financial Analysis
14.1.3 Segmental and Regional Analysis
14.1.4 Research & Development Expense
14.1.5 SWOT Analysis
14.2 ABB Ltd.
14.2.1 Company Overview
14.2.2 Financial Analysis
14.2.3 Segmental and Regional Analysis
14.2.4 Research & Development Expenses
14.2.5 SWOT Analysis
14.3 Siemens AG
14.3.1 Company Overview
14.3.2 Financial Analysis
14.3.3 Segmental and Regional Analysis
14.3.4 Research & Development Expense
14.3.5 SWOT Analysis
14.4 Schneider Electric SE
14.4.1 Company Overview
14.4.2 Financial Analysis
14.4.3 Segmental and Regional Analysis
14.4.4 Research & Development Expense
14.4.5 Recent strategies and developments:
14.4.5.1 Geographical Expansions:
14.4.6 SWOT Analysis
14.5 General Electric Company
14.5.1 Company Overview
14.5.2 Financial Analysis
14.5.3 Segmental and Regional Analysis
14.5.4 Research & Development Expense
14.5.5 SWOT Analysis
14.6 Hitachi Energy Ltd. (Hitachi Ltd.)
14.6.1 Company Overview
14.6.2 Financial Analysis
14.6.3 Segmental and Regional Analysis
14.6.4 Research & Development Expenses
14.6.5 Recent strategies and developments:
14.6.5.1 Product Launches and Product Expansions:
14.7 Bharat Heavy Electricals Ltd.
14.7.1 Company Overview
14.7.2 Financial Analysis
14.7.3 Segmental and Regional Analysis
14.7.4 Research & Development Expenses
14.7.5 Recent strategies and developments:
14.7.5.1 Partnerships, Collaborations, and Agreements:
14.7.6 SWOT Analysis
14.8 Mitsubishi Electric Corporation
14.8.1 Company Overview
14.8.2 Financial Analysis
14.8.3 Segmental and Regional Analysis
14.8.4 Research & Development Expense
14.8.5 SWOT Analysis
14.9 Powerside
14.9.1 Company Overview
14.9.2 Recent strategies and developments:
14.9.2.1 Acquisition and Mergers:
14.9.3 SWOT Analysis
14.10. Larsen & Toubro Limited
14.10.1 Company Overview
14.10.2 Financial Analysis
14.10.3 Segmental and Regional Analysis
14.10.4 Research & Development Expenses
14.10.5 SWOT Analysis

TABLE 1 North America Capacitor Banks Market, 2021 - 2024, USD Million
TABLE 2 North America Capacitor Banks Market, 2025 - 2032, USD Million
TABLE 3 Key Customer Criteria – Capacitor Banks Market
TABLE 4 North America Capacitor Banks Market by Voltage, 2021 - 2024, USD Million
TABLE 5 North America Capacitor Banks Market by Voltage, 2025 - 2032, USD Million
TABLE 6 North America Medium [10 kV - 69 kV] Market by Country, 2021 - 2024, USD Million
TABLE 7 North America Medium [10 kV - 69 kV] Market by Country, 2025 - 2032, USD Million
TABLE 8 North America High [>69 kV] Market by Country, 2021 - 2024, USD Million
TABLE 9 North America High [>69 kV] Market by Country, 2025 - 2032, USD Million
TABLE 10 North America Low [<10 kV] Market by Country, 2021 - 2024, USD Million
TABLE 11 North America Low [<10 kV] Market by Country, 2025 - 2032, USD Million
TABLE 12 North America Capacitor Banks Market by Application, 2021 - 2024, USD Million
TABLE 13 North America Capacitor Banks Market by Application, 2025 - 2032, USD Million
TABLE 14 North America Power Factor Correction Market by Country, 2021 - 2024, USD Million
TABLE 15 North America Power Factor Correction Market by Country, 2025 - 2032, USD Million
TABLE 16 North America Harmonic Filter Market by Country, 2021 - 2024, USD Million
TABLE 17 North America Harmonic Filter Market by Country, 2025 - 2032, USD Million
TABLE 18 North America Voltage Regulation Market by Country, 2021 - 2024, USD Million
TABLE 19 North America Voltage Regulation Market by Country, 2025 - 2032, USD Million
TABLE 20 North America Renewable Integration Market by Country, 2021 - 2024, USD Million
TABLE 21 North America Renewable Integration Market by Country, 2025 - 2032, USD Million
TABLE 22 North America Industrial Application Market by Country, 2021 - 2024, USD Million
TABLE 23 North America Industrial Application Market by Country, 2025 - 2032, USD Million
TABLE 24 North America Data Centers Market by Country, 2021 - 2024, USD Million
TABLE 25 North America Data Centers Market by Country, 2025 - 2032, USD Million
TABLE 26 North America Other Application Market by Country, 2021 - 2024, USD Million
TABLE 27 North America Other Application Market by Country, 2025 - 2032, USD Million
TABLE 28 Use Case 1: Power Factor Optimization in Smart Grids
TABLE 29 Use Case 2: Harmonic Filtering in Steel Manufacturing Plants
TABLE 30 Use Case 3: Voltage Regulation for Rural Electrification Projects
TABLE 31 Use Case 4: Renewable Energy Integration at Solar Parks
TABLE 32 Use Case 5: Capacitor Bank Deployment in Heavy Industries
TABLE 33 Use Case 6: Power Conditioning in Tier-3 Data Centers
TABLE 34 Use Case 7: Smart Grid Trials for Mixed-Use Urban Areas
TABLE 35 North America Capacitor Banks Market by Country, 2021 - 2024, USD Million
TABLE 36 North America Capacitor Banks Market by Country, 2025 - 2032, USD Million
TABLE 37 US Capacitor Banks Market, 2021 - 2024, USD Million
TABLE 38 US Capacitor Banks Market, 2025 - 2032, USD Million
TABLE 39 US Capacitor Banks Market by Voltage, 2021 - 2024, USD Million
TABLE 40 US Capacitor Banks Market by Voltage, 2025 - 2032, USD Million
TABLE 41 US Capacitor Banks Market by Application, 2021 - 2024, USD Million
TABLE 42 US Capacitor Banks Market by Application, 2025 - 2032, USD Million
TABLE 43 Canada Capacitor Banks Market, 2021 - 2024, USD Million
TABLE 44 Canada Capacitor Banks Market, 2025 - 2032, USD Million
TABLE 45 Canada Capacitor Banks Market by Voltage, 2021 - 2024, USD Million
TABLE 46 Canada Capacitor Banks Market by Voltage, 2025 - 2032, USD Million
TABLE 47 Canada Capacitor Banks Market by Application, 2021 - 2024, USD Million
TABLE 48 Canada Capacitor Banks Market by Application, 2025 - 2032, USD Million
TABLE 49 Mexico Capacitor Banks Market, 2021 - 2024, USD Million
TABLE 50 Mexico Capacitor Banks Market, 2025 - 2032, USD Million
TABLE 51 Mexico Capacitor Banks Market by Voltage, 2021 - 2024, USD Million
TABLE 52 Mexico Capacitor Banks Market by Voltage, 2025 - 2032, USD Million
TABLE 53 Mexico Capacitor Banks Market by Application, 2021 - 2024, USD Million
TABLE 54 Mexico Capacitor Banks Market by Application, 2025 - 2032, USD Million
TABLE 55 Rest of North America Capacitor Banks Market, 2021 - 2024, USD Million
TABLE 56 Rest of North America Capacitor Banks Market, 2025 - 2032, USD Million
TABLE 57 Rest of North America Capacitor Banks Market by Voltage, 2021 - 2024, USD Million
TABLE 58 Rest of North America Capacitor Banks Market by Voltage, 2025 - 2032, USD Million
TABLE 59 Rest of North America Capacitor Banks Market by Application, 2021 - 2024, USD Million
TABLE 60 Rest of North America Capacitor Banks Market by Application, 2025 - 2032, USD Million
TABLE 61 Key Information – Eaton Corporation PLC
TABLE 62 Key Information – ABB Ltd.
TABLE 63 Key Information – Siemens AG
TABLE 64 Key Information – Schneider Electric SE
TABLE 65 Key Information – General Electric Company
TABLE 66 Key Information – Hitachi Energy Ltd.
TABLE 67 Key information – Bharat Heavy Electricals Ltd.
TABLE 68 Key Information – Mitsubishi Electric Corporation
TABLE 69 Key Information – Powerside
TABLE 70 Key Information – Larsen & Toubro Limited.

List of Figures
FIG 1 Methodology for the research
FIG 2 North America Capacitor Banks Market, 2021 - 2032, USD Million
FIG 3 Market Share Analysis, 2024
FIG 4 Porter’s Five Forces Analysis – Capacitor Banks Market
FIG 5 Value Chain Analysis – Capacitor Banks Market
FIG 6 Key Customer Criteria – Capacitor Banks Market
FIG 7 North America Capacitor Banks Market Share by Voltage, 2024
FIG 8 North America Capacitor Banks Market Share by Voltage, 2032
FIG 9 North America Capacitor Banks Market by Voltage, 2021 - 2032, USD Million
FIG 10 North America Capacitor Banks Market Share by Application, 2024
FIG 11 North America Capacitor Banks Market Share by Application, 2032
FIG 12 North America Capacitor Banks Market by Application, 2021 - 2032, USD Million
FIG 13 North America Capacitor Banks Market Share by Country, 2024
FIG 14 North America Capacitor Banks Market Share by Country, 2032
FIG 15 North America Capacitor Banks Market by Country, 2021 - 2032, USD Million
FIG 16 SWOT Analysis: Eaton Corporation PLC
FIG 17 SWOT Analysis: ABB ltd.
FIG 18 SWOT Analysis: Siemens AG
FIG 19 SWOT Analysis: Schneider Electric SE
FIG 20 SWOT Analysis: General electric Company
FIG 21 SWOT Analysis: Bharat Heavy Electricals Ltd.
FIG 22 SWOT Analysis: Mitsubishi Electric Corporation
FIG 23 SWOT Analysis: Powerside
FIG 24 Swot Analysis: Larsen & Toubro Limited.