The Asia Pacific electric capacitor market is estimated to be valued at US$13,357.890 million in 2020.
Electric capacitors are electronic components that store and release electricity. A capacitor is almost usually included in an electrical circuit because it is a necessary electronic equipment component. Because of its simple charging and discharging characteristics and lightweight, it has effectively supplanted traditional batteries. With the growth of technology, capacitors have become a crucial component in the construction of all most every electronic gadget. 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 will rise with the increased use of automation in different industries. The electric capacitor market is like to increase in IoT. Superconductors in the future can end up powering IoT. According to International Energy Agency, China accounted for the second-highest registrations globally for the electric vehicle. China accounts for 25% of the world’s electric two-wheelers on the road.
The growth of the electric capacitor market in Asia-Pacific is expected to grow over the forecasted period. Because of the expanding production of wearable commodities, Asia-Pacific owns a substantial part of the market and is expected to rise significantly. Rising consumer interest in smart products such as smart TVs and smart wearables, rising disposable income, continuing product innovation, and the presence of significant market players in this region are all contributing to the global electronics market's growth and, therefore, the market for electric capacitors. The demand for capacitors in the energy and power business will grow as the world's demand for efficient power generation, storage, and distribution grows. Furthermore, as the demand for alternative energy sources grows, so will the demand for electric capacitors.
Key Developments
Nichicon corporate, headquartered in Japan, recently launched a series of aluminium electrolyte capacitors that would run for more hours and have higher resistance. They are also developing the world’s first free electronic shelf labelling system using solar cells.
By Type, Asia-Pacific electric capacitor market is segmented into aluminium, ceramic, tantalum, Paper & Film, and super-capacitors. Cars, buses, trains, cranes, and elevators, among other things, employ super-capacitors for regenerative braking, short-term energy storage, and burst mode power delivery. The growing use of freshly enhanced capacitors in the industrial and electronic sectors has been a primary driver of the electrical capacitor market's growth.
By Polarization, Asia-Pacific electric capacitor market is segmented into polarized & non-polarized. The polarized capacitor is a type of capacitor that can be connected only one way to a circuit, whereas non-polarized capacitors can be connected either way.
By Voltage, Asia-Pacific electric capacitor market is segmented into high voltage & low voltage. Low voltage electric capacitors will see significant growth due to rising demand for consumer electronic items, which will be fuelled by short replacement cycles and steadily falling prices.
By Industry Vertical, Asia-Pacific electric capacitor market is segmented into consumer electronics, automotive, communication & technology, energy & power, industrial electronics, and others. Automotive and energy & power are expected to rise in the future as EVs, and plug-in hybrids are in demand and in sales.
By Geography, Asia-Pacific electric capacitor market is segmented into China, Japan, India, Taiwan & others. The Asia Pacific market is estimated to regain its momentum due to expansion in the automobile sector in this region; these regions are the main revenue generation countries and will grow exponentially in the electronic industry. China, Japan, and India are the major boosting countries for growth in the forecasted period.
COVID-19 Insights
COVID-19 had a negative impact on the electric capacitor market as demand and sales for electric cars declined during that period. In 2020, due to COVID-19 major industries impacted were the automotive industry and manufacturing units. Due to the shutdown in export and import, losses were incurred by the companies. However, with the world back to normal, sales and demand picking up, a new world post-COVID-19 is what is aspired by the businesses & leaders as some industries have shown immense growth potential and will be growing in the forecasted period.
Key Market Segments