Single Phase Power Capacitors Market to be dominated by Automotive segment through 2028
Increasing
Demand for Electricity and Energy Efficiency Regulations is rising to drive Global
Single Phase Power Capacitors Market in the forecast period, 2023-2028.
According to TechSci Research report, “Global Single Phase Power Capacitors Market - By Region, Competition, Forecast &
Opportunities, 2028”, Global
Single Phase Power Capacitors Market is anticipated to grow at a 6.94% 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.
Based on Application, the market's largest
contribution will be the Automotive segment. Start capacitors usually have
ratings above 70 µF, with four major voltage classifications: 125 V, 165 V, 250
V, and 330 V. Start capacitors above 20 µF are always non-polarized aluminium electrolytic
capacitors with non solid electrolyte and therefore they are only applicable
for the short motor starting time.
Based on Region, Asia Pacific region is expected to
dominate the market for Single 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.
Browse over XX market data Figures spread through 180
Pages and an in-depth TOC on "Single Phase Power Capacitors Market.”
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 Single 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 Single
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.
Single Phase Power Capacitors Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented
by
Product Type (Polypropylene Film Capacitor, Polyester Film Capacitor, Aluminum
Electrolytic Capacitor, Others), by Application (Automotive, Industrial,
Consumer Electronics, Others) and by Voltage (Low Voltage, High Voltage),
By Region, Competition,
2018-2028”, has evaluated the future growth potential of global Single
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 Single
Phase Power Capacitors market.
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