Electrolytic Capacitors Continue to Dominate India Electrical Capacitor Market
Rising adoption of latest electronic devices
such as smartphones, tablets, etc., along with growing popularity of renewable
energy sources, electric mobility and smart grid to drive India electrical
capacitor market through 2023
According to TechSci Research
report, “India
Electrical Capacitor Market By Product Type, By Application, Competition
Forecast & Opportunities, 2013-2023”, India electrical
capacitor market is forecast to reach $ 625 million by 2023, owing to increasing
penetration of smart devices and rising inclination towards renewable energy
sources. Moreover, the concept of electric mobility and smart grid is gaining
momentum in India, which is further pushing demand for electrical capacitors as
they are used in electric vehicles as well as smart grids. Moreover, government
of India is increasingly focusing on improving domestic manufacturing scenario,
which is anticipated to positively influence India electrical capacitor market
through 2023. EPCOS India Pvt.
Ltd., Globe Capacitors Limited, Deki Electronics Limited and Keltron Component
Complex Limited are some of the major companies operating in India electrical
capacitor market.
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Among product types, electrolytic
electrical capacitor dominated India electrical capacitor market in 2017, and the
product segment is likely to maintain its dominance during forecast period as
well on account of high demand for electrolytic capacitors in consumer
electronics, including mobile phones, laptops, air conditioners, refrigerators,
washing machines, etc., as well as telecommunications sector. However, film
electrical capacitor segment is expected to grow at the fastest CAGR during
forecast period due to its increasing demand in consumer electronics, lighting
and high speed internet access.
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“A large demand for
electrical capacitors emanates from South India due to presence of large
electronic manufacturing base in this region. However, in the coming years,
demand from North region is anticipated to grow at the fastest pace. Rising
inclination towards HVDC (High Voltage Direct Current) transmission technology,
is expected to significantly boost demand for electrical capacitors across
India in the coming years. Additionally, increasing use of electric energy
storage systems to store energy would further steer growth in the market during
the forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Electrical
Capacitor Market By Product Type, By Application, Competition Forecast &
Opportunities, 2013-2023” has evaluated the future growth
potential of India electrical capacitor market and provides statistics and information
on market size, structure and future market growth. The report offers decision
makers superior market intelligence, thereby enabling them to conduct thorough
investment appraisal. Besides, the report also analyzes the evolving market trends along with
drivers, challenges and opportunities in India electrical capacitor market.
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