PUBLISHER: Allied Market Research | PRODUCT CODE: 1140120
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140120
The global electric capacitor market size was valued at $16.4 billion in 2021, and projected to reach $30.4 billion by 2031, with a CAGR of 6.4% from 2022 to 2031.
Electric capacitors are electronic components that store and release electricity. A capacitor is almost usually included in an electrical circuit because it is a necessary electronic equipment component. It has effectively supplanted traditional batteries because of its simple charging and discharging characteristics and lightweight. Capacitors have become a crucial component in the construction of almost every electronic gadget with the growth of technology.
The capacitor market has developed in response to increased demand for consumer and wearable electronics, as well as increased use of polymer-based capacitors in industrial applications and electronic equipment. Moreover, increase in use of automation in different industries is projected to surge the demand for electric capacitors in the market. The electric capacitor market is likely to increase due to rise in the utilization of IoT in various electronic products; furthermore, in the future capacitor can end up powering products related to Internet of Things (IoT). In 2020, according to International Energy Agency, China accounted for the second-highest registrations globally for the electric vehicle. China accounts for 25% of the world's electric two-wheelers on the road.
Rise in consumer interest in smart products such as smart TVs and smart wearable, increase in disposable income, surge in product innovation, and presence of significant market players in this region are the factors that contribute toward the growth of the global electronics market, which, in turn, boosts the growth of the electric capacitors market. There is a rise in the requirement of efficient power generation, storage, and distribution, which boosts the demand for capacitors in the energy and power business. Furthermore, the demand for electric capacitors is projected to increase owing to the rise in demand for alternative energy sources.
The electric capacitor market is segmented on the basis of type, capacity, application and region. On the basis of type, the market is classified into plastic film capacitor, ceramic capacitor, aluminum electrolytic capacitor, and others. On the basis of capacity, it is bifurcated into low voltage and high voltage; high voltage is further classified into 500-1000V, 1001-7000V, 7001-14000V, and above 14000V. On the basis of application, the market is categorized into power generation, transmission, distribution and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
The major companies profiled in this report include Siemens AG, ABB Ltd, Schneider Electric, Kemet Corporation, Suzhou Maxwell Technologies Co., Ltd, AVX Corporation, Cornell Dubilier, Murata Manufacturing Co., Ltd, WIMA GmbH, TDK-EPC Corporation, Samsung Electronics Co Ltd, and Panasonic Corp. Rapid development of industrialization, modernization, increase in the demand for portable electronic gadgets, and investment in the renewable energy fuel the demand for electric capacitor. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the power generation, transmission, and distribution make way for key developments in the global electric capacitor market.
COVID-19 analysis:
By Type
By Capacity
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