The electric capacitor market size was valued at $16.4 billion in 2021, and electric capacitor industry is estimated to reach $30.4 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
A capacitor is an electronic component that stores and releases electrical energy. It is a passive two-terminal device that consists of two conductive plates separated by an insulating material called a dielectric. When a voltage is applied across the terminals of a capacitor, an electric field is established between the plates, causing them to store electrical charge.
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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.
Asia-Pacific accounts for the largest electric capacitor market share, followed by North America and Europe.
Consumer interest in smart devices such as smart TVs and wearable devices, expanding disposable income, continued product innovation, have positive impact on the market.
Major shift in the automobile market from the conventional oil powered engines to electric and hybrid automotive. Furthermore, grid integration of renewable energy sources coupled with enhanced efforts to improve quality of electrical system.
Low voltage capacitors are used in low voltage networks to improve the power factor. These capacitors thereby improve operation efficiency and power savings in industrial and power applications.
High voltage capacitors offer simple and reliable reactive power to enhance system efficiency, performance, and quality. It is utilized under oil for peaking in large pulse power systems or pulse shaping.
The capacitors are produced utilizing foil electrode windings and dielectric. The capacitors are enclosed in plastic cases with pivotal terminals, and are exhaustively vacuum-dried and infused with an insulating liquid.
There has been an increase in the demand for efficient and continuous supply of power to meet the growing commercial and industrial needs with the growing global population.
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Electric capacitors are expected to witness a steady flow of demand during the forecast period given their key applications in end use industries such as, consumer products, and industrial power generation industries.
The presence of hazards such as retaining energy even after the equipment has been de-energized and which may further build up a hazardous residual charge without external energy source, subjected to high current or beyond the specific ratings can cause heating and explosion.
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.
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies.
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The outbreak of COVID-19 in China and its spread across numerous countries around the world halted the manufacturing activities of industrial sectors which correspondingly hampered high voltage capacitor manufacturing as well.
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