Power Capacitors Market

Power Capacitors Market Overview

The overall sales of power capacitors are projected to reach a valuation of nearly US$ 2.3 Bn by 2032, registering growth at a CAGR of 2% - 4% during the forecast period.

Power capacitors are generally used to enhance the power factor in electrical distribution system. These electronic devices possess excellent temperature stability and frequency characteristics. On account of this, the sales of power capacitors are projected to increase in the forthcoming years.

Further, growing demand for induction motors used in various industries for conserving electrical energy is projected to bolster the adoption of power capacitors. Subsequently, need for energy efficiency and high power in the electric rail traction transformers will create remunerative opportunities for the market.

Which are the Factors Promoting Growth in Power Capacitors Market?

Rising demand for uninterruptable power supply used in medical engineering is projected to surge the demand for power capacitors. In addition to this, rising demand for electric motors and induction motors in agriculture sector will create conducive environment for the market.

Another factor expected to propel the growth include favourable government laws and regulation related to conservation of energy. Also, requirement of radio frequency integrated circuits, voltage and frequency convertors in industrial sector is increasing. This is expected to drive the demand in the market.

Which are the Challenges Faced in Power Capacitors Market?

Growing incidence of leakage of currents in electrical components is projected to limit the use of power capacitors. Additionally, changing equivalent series resistance (ESR) and value tolerance might restrain the demand for power capacitors.

Moreover, increasing demand for an alternative due to short life span of the power capacitors will inhibit the growth in the market.

Will Asia Pacific Power Capacitors Market Exhibit Significant Growth?

As per the latest study, Asia Pacific is estimated to emerge as an attractive pocket in the global  market owing to rapid industrialization in developing regions such as China and India.

Growing interests of the governments in expanding the electric distribution networks across the India and China is anticipated to create lucrative opportunities for power capacitors manufacturers.

Subsequently, development of commercial and residential infrastructure is fuelling the need for efficient power supply and electricity, especially in India. To capitalize on this trend, key players are eyeing the India market, aiding the growth in Asia Pacific.

Nikhil Kaitwade

Principal Consultant

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How is Europe Contributing to the Growth in Power Capacitors Market?

Presence of favourable government policies related to the emission of greenhouse gases is propelling the demand for energy-efficient technologies across Europe. This is expected to accelerate the demand for power capacitors.

Apart from this, growing investments in renewable energy systems including wind energy & solar energy will augment the application of power capacitors in the region.

Market Competition

Major players dominating the global power capacitors market include GE Grid Solutions, Eaton Corporation Plc, AB Power System, Aerovox Corp., Nissin Electric, GE Digital Energy, Larsen & Toubro Ltd., ABB Ltd., Schneider Electric, and Clariant Power System, among others.

Manufacturers are developing advanced power capacitors with better voltage stabilization features to expand their consumer base.

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Report Scope

Key Segments Profiled in the Power Capacitors Market

Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

End User:

• Utilities
• Industries
• Others

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa