Leading market players are investing heavily in the research and development in order to expand their product lines, which will help the Automatic Power Factor Controller market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Automatic Power Factor Controller industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global Automatic Power Factor Controller industry to benefit the clients and increase the market sector. In recent years, the Automatic Power Factor Controller industry has offered some of the most significant advantages to several industries. Major participants in the Automatic Power Factor Controller market, including General Electric, Siemens AG, ABB, Emerson Electric Co., AVEVA Group plc, Schneider Electric, STMicroelectronics, AB POWER SYSTEMS, Eaton, Fujitsu, and others, are trying to increase market demand by investing in the research and development operations.
Siemens AG is global powerhouse in the fields of electrification, automation, and digitalization, with a diverse portfolio of products, solutions, and services. Headquartered in Munich, Germany, Siemens operates across various sectors, including energy, healthcare, industry, and infrastructure. The company is renowned for its innovative technologies that address complex challenges and contribute to sustainable development. Siemens plays a crucial role in shaping the future of industries through its focus on digital transformation, smart infrastructure, and the integration of cutting-edge technologies such as the artificial intelligence and the Industrial Internet of Things (IIoT).
In June 2023, Siemens and Infineon Technologies announced a partnership to develop and manufacture new smart APFCs. The two companies will compile their expertise in power electronics, semiconductor manufacturing, and artificial intelligence to develop new APFCs that can optimize power factor correction and achieve even greater energy savings.
Mitsubishi Corporation is a diversified Japanese conglomerate with a global presence and a rich history dating back to its establishment in 1950. As one of Japan's largest trading and investment companies, Mitsubishi engages in a broad spectrum of businesses, including finance, energy, machinery, chemicals, and more. The corporation operates on the global scale, with a network of offices and subsidiaries spanning various industries and regions. Known for its commitment to the sustainability and corporate responsibility, Mitsubishi Corporation has played a pivotal role in contributing to economic development while addressing environmental and societal challenges.
In May 2023, Mitsubishi Electric and Hitachi Energy announced a partnership to develop and manufacture new APFCs for renewable energy applications. The two companies will compile their expertise in power electronics, renewable energy, and grid integration to develop new APFCs that can support the growing deployment of renewable energy sources.