Three Phase Power Capacitors Market to be dominated by Commercial segment through 2028
Increasing
Demand for Electricity and Rising Awareness of Energy Efficiency is rising to
drive Global Three Phase Power Capacitors Market in the forecast period, 2023-2028.
According to TechSci Research report, “Global Three Phase Power Capacitors Market - By Region, Competition, Forecast &
Opportunities, 2028”, Global
Three Phase Power Capacitors Market is anticipated to grow at a 5.02% CAGR in
the forecast period, 2024-2028. Clean
and renewable energy storage technologies have been developed due to the energy
crisis and environmental damage. The Electrical Double Layer Capacitor (EDLC),
often known as a supercapacitor, offers a very high capacitance in a compact form.
Because it does not undergo the wear and tear associated with the chemical
process, it may store electric energy as an electric field between two
conducting plates and perform hundreds of thousands more charge-discharge
cycles than batteries. Because of this and its growing application in electric
drives, UPS, active filters, traction, and automotive industries have drawn
interest to learn more about their peculiarities.
Browse over XX market data Figures
spread through 180 Pages and an in-depth TOC on "Three Phase Power Capacitors Market.”
Based on End User Industry, the market's largest
contribution will be the Commercial segment. A wiring system consisting of four
wires and used in industrial and commercial applications. This system is
suitable for installations requiring large motors. It consists of three hot
wires and one ground wire. Based on Region, Asia Pacific region is expected to
dominate the market for Three Phase Power Capacitors during the forecast
period. The Asia-Pacific region is one of the most important markets for
capacitors in power electronics applications. The popularity of EVs is growing,
and China is regarded as one of the most dominant adopters of electric
vehicles. The country's 13th Five-Year Plan promotes the development of green
transportation solutions, such as hybrid and electric cars, for advancements in
the country's transportation sector.
China's electric cars are reached the 20% nationwide penetration goal in
2022, well ahead of the Chinese government's 2025 forecast, due to new models
by dozens of competitors attracting new buyers and encouraging owners to switch
to electric vehicles. Capacitors in power electronics applications are expected
to benefit significantly from the government's growing interest in expanding
electric distribution networks throughout India. To encourage the use of e-2W,
the demand incentive under the FAME-II plan was raised from INR 10,000/KWh to
INR 15,000/KWh with a ceiling increase from 20% to 40% of vehicle cost.
Additionally, after March 31, 2022, phase II of the FAME-India Scheme was
extended for an additional two years. This strategy was developed to provide
more economical, environment-friendly transportation, strengthen national fuel
security, and help India's car sector take the lead in global manufacturing.
The region is witnessing an increase in market
investments. For instance, Exxelia, a well-known designer and manufacturer of
passive components and subsystems, declared in January 2022 that it had
successfully acquired Alcon Electronics in December 2021. Alcon Electronics is
an Indian company that specializes in providing the end markets for renewable
energy, medical imaging, induction heating equipment, power production, and
railroads with custom-designed film and aluminum electrolytic capacitors. For
usage in power electronic applications, Alcon Electronics offers a variety of
aluminum electrolytic film and screw terminal capacitors.
Major companies operating in the Global Three Phase
Power Capacitors market are:
- DK
Corporation
- Vishay
Intertechnology Inc.
- Murata
Manufacturing Co. Ltd
- AVX
Corporation (Kyocera Group)
- Kemet
Corporation (Yageo Company)
- Cornell
Dubilier Electronics Inc.
- Eaton
Corporation PLC
- Hongfa
Technology Co.
- NIPPON
CHEMI-CON CORPORATION
- Yageo
Corporation
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“The
Global Three Phase Power Capacitors Market is expected to expand during the
projected period. The global single-phase power capacitors market is
driven by several critical factors shaping its growth and significance in the
electrical industry. Increasing electricity demand, propelled by urbanization
and industrialization, necessitates power capacitors to optimize energy
efficiency and reduce wastage. Moreover, the integration of renewable energy
sources like solar and wind underscores the role of single-phase power
capacitors in stabilizing the grid and accommodating intermittent energy
generation. Stringent energy efficiency regulations worldwide push industries
and utilities to adopt power capacitors, aligning with sustainability goals and
reducing energy costs. Technological advancements, including innovations in
design and materials, enhance the efficiency and adaptability of these
capacitors, addressing the evolving needs of modern electrical systems.
Additionally, grid modernization initiatives, aiming to improve grid
performance and accommodate the changing energy landscape, often involve the deployment
of power capacitors to reduce losses during transmission and distribution.
Together, these drivers highlight the global importance of single-phase power
capacitors in facilitating efficient, reliable, and sustainable electrical
systems across industries and regions.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
Three Phase Power Capacitors Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented
by
Product Type (Dual Run Capacitors, Split-Phase Capacitor Start and Run Motors,
Single-Phase Capacitors), by End-User Industry (Residential, Commercial,
Industrial), by Voltage Rating (110V, 120V, 220V, 240V),
By Region, Competition, 2018-2028”, has evaluated the future growth potential of global
Three Phase Power Capacitors market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision-makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
the global Three Phase Power Capacitors market.
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