Electric Capacitor Market Research, 2031
The global electric capacitor market size was valued at $16.4 billion in 2021, and electric capacitor industry is projected to reach $30.4 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
The electric capacitor market is segmented into Type, Capacity and Application.
An electric capacitor, like a rechargeable battery, can store energy in the form of electrical charge while producing a static voltage across its plates. 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 growing use of electric capacitors in industries such as industrial, automotive electronics, consumer electronics, energy, and others is projected to propel the growth of the electric capacitor market during the forecast period.
The market is driven by the increased capacitance value of the electric capacitor. Electric capacitors are an important component in the circuit designer's inventory, combining low size with high capacitance and low cost when compared to other types of capacitors. The electric capacitor market is growing due to its extended service life and low cost of manufacturing. However, limited energy storage is anticipated to limit the market growth. If electric capacitors are not mounted properly, they will not attain the correct capacitance and may cause internal gas pressure, which could also lead to an explosion, thus hampering the development of the market.
The Chinese government has subsidized local electronics manufacturing through a series of stimulus projects like "Home Appliances to the Countryside," "Replace the Old with New," and "Automobiles to the Countryside". These regulations have helped China's capacitor market by boosting the country's electronics industry. In India, the government has taken initiatives to phase out fuel based public transportation services to hybrid powered vehicles which led to demand for the electric capacitors. The increase in awareness among people and introduction of different government policies to provide various subsidies for the individuals have driven the demand for the electric vehicle industry, which fosters the growth of the electric capacitor market.
The electric capacitor market forecast 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.
The plastic film capacitor segment dominates the global electric capacitor market. Plastic dielectrics, are commonly used for thin film capacitors include polypropylene, polyethylene terephthalate, polyethylene naphthalate, and polyphenylene sulphide. However, polypropylene is the most widely used film in a thin film capacitor owing its low and stable dissipation property. However, in operations that require high temperature and surface mounting, polyethylene terephthalate is preferred over polypropylene, due to low melting point of the latter. Thin film capacitors are extremely high power applications including high intensity vibrations in automotive and other high temperature applications. Moreover, accelerated electrification of vehicles, using a key DC to AC inverters, is propelling the deployment of plastic film capacitor in the automotive industry. This is expected increase its adoption and thus, driving the growth of the market during the forecast period.
The high voltage segment dominates the global electric capacitor market share. 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 enclosed in plastic cases with pivotal terminals, and are exhaustively vacuum-dried and infused with an insulating liquid. The high voltage capacitor market is driven by factors such as increased demand to boost grid infrastructure for increasing the electricity accessibility in the developed and developing countries. However, the high voltage capacitor in electric capacitor market is hindered by the high voltage hazards related to high voltage capacitor. The presence of above mentioned advantages is anticipated to drive the electric capacitor market growth.
The power generation segment dominates the global electric capacitor market. The process of converting various sources of energy into electrical energy is known as power generating. In the power generation industry, capacitors are used to store the generated power. In power generation, reservoir capacitors are used for power conditioning in supply of power where they smooth the output of a half or full wave rectifier. They can be used as energy storage element in charge pump circuit in the generation of higher voltages than the input voltage. DC dry-type capacitors, motor surge protection, three-phase capacitors, and CONDIS electrical capacitor are the examples of the capacitors used for power generation. Power generation equipment has witnessed a strong demand owing to the increase in population followed by rise in number of consumers and rapid urbanization. The increase in consumption leads to a rise in demand for electricity, thereby increasing the demand for electrical capacitors in the power generation equipment. The presence of above mentioned wide range of utilization of electric capacitor in power generation applications is anticipated to provide ample opportunities for the market.
Asia-Pacific dominated the electric capacitor market during the forecast period. In this region, 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, the demand for electric capacitors is projected to increase with the increased use of automation in different industries. The electric capacitor market is developing rapidly due to increase in utilization of Internet of Things (IoT). Superconductors in the future can end up powering IoT. Furthermore, 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 all most every electronic gadget with the growth of technology. The above mentioned initiatives are major factors driving the growth of the market in this region during the forecast period.
COVID-19 analysis:
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. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturer led to the decline in the demand for solar related equipment in most of the countries across the world led to decline in the demand of the electric capacitor market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.
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. The raw material procurement was also challenged owing to outbreak of COVID-19. The revenue streams of government of numerous countries were halted which correspondingly hindered the government funded transmission and distribution projects. This consequently decreased the demand for high voltage capacitors. As economies of numerous countries are recovering, the government funded transmission and distribution projects resumed operations. The above mentioned factors will increase the demand for high voltage capacitor. The growth trend is expected to continue during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric capacitor market analysis from 2021 to 2031 to identify the prevailing electric capacitor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electric capacitor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electric capacitor market trends, key players, market segments, application areas, and market growth strategies.
Electric Capacitor Market Report Highlights
| Aspects | Details |
 By Type |
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 By Capacity |
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 By Application |
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 By Region |
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 Key Market Players | Panasonic Corp., ABB Ltd, Suzhou Maxwell Technologies Co., Ltd, TDK-EPC Corporation, Siemens AG, WIMA GmbH, Murata Manufacturing Co.,Ltd, Samsung Electronics Co Ltd, Cornell Dubilier, AVX Corporation, Schneider Electric, Kemet Corporation |
Analyst Review
According to CXO perspective, the global electric capacitor market is expected to witness increased demand during the forecast period, due to rapid growth in functionality, convergence & complexity of electronic devices coupled with rise in demand for smart components from emerging markets. Ongoing technological advancements in the consumer electronic industry, majorly across the smartphone segment have propelled the industry players to opt for high speed energy offering products. Moreover, increase in deployment across applications requiring a combination of high capacitance and voltage across the automobile & power T&D industries is anticipated to have a positive impact on the market.
A capacitor plays an important role in majority of electronic devices and it is used to store an electrical charge. The capacitors are of different types such as film capacitors, ceramic capacitors, and electrolytic capacitors based on their performance and application requirements.
The rise in demand for advanced functionality, increase in complexity of electronic devices, and demand for smart electronic devices are some of the key driving factors of the global electric capacitor market. In addition, the rise in technological advancements in consumer electronics majorly in the smartphones arena are anticipated to boost the demand for electric capacitors. The increase in demand for automation in other diverse industry verticals such as automotive, IT & Telecom, energy & power, and others is expected to offer ample growth opportunities for market players.
Increased demand to boost grid infrastructure for increasing the electricity accessibility and increase in complexity of electronic devices, and demand for smart electronic devices are the key factors boosting the Electrical capacitors market growth.
The market value of Electrical capacitors in 2031 is expected to be $30.4 billion
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
Power generation industry is projected to increase the demand for Electrical capacitors Market
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.
Increase in renewable energy market is the Main Driver of Electrical capacitors Market.
The market growth decreased marginally in several industries in 2020, due to the closure of industrial facilities because of workforce shortage, work-from-home policies, and lockdown actions. Therefore, the growth of the electric capacitor market slowed slightly in 2020. The gradual surge in the demand for electronic devices and product launch of new mobiles from manufacturers post pandemic is projected to have positive impact on the electric capacitor market.
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