The energy and power electric capacitor market is projected to grow at a CAGR of 6.97% during the forecast period to reach US$1.671 billion by 2027, from US$1.043 billion in 2020.
In the field of electricity and power, to store electric energy, an electric capacitor is used. It's a two-terminal passive component of electronics. An electric capacitor can also be called a condenser.
The effect of a capacitor is denoted by its capacitance. When there are two electrical conductors in a circuit, there is some capacitance generated in the circuit, but to provide an effective result of capacitance in a circuit, an electric capacitor is used. The electric capacitor market is expected to rise due to the increased functionality, coherence, and complexity of electronic devices, as well as the rising demand for smart components from emerging economies.
The market for energy and power electric capacitors in the automobile industry is predicted to rise as the development of electric vehicles grows. The advent of next-generation automotive electronics to support enhanced driver assistance systems, as well as rising customer demand for mobility and connection, is expected to help to propel the industry forward. Furthermore, the development of new applications such as renewable energy systems, electronic controls for industrial machinery and engines, hybrid transportation concepts, and personal computing devices is expected to propel the demand for energy and power electric capacitors even higher.
Growth Drivers
The electric capacitor is expected to dominate the market because of its higher capacitance value. To design a circuit, electric capacitors play an important part because they offer small size, high capacitance, and low cost compared to other types of capacitors. The electric capacitor industry is expected to see the rise as a result of its extended service life and low cost. In the market, there is a plentiful supply of raw materials, as well as diverse construction and connection kinds and a highly automated manufacturing process predicted to give a boost to the energy and power electric capacitor market in the foreseen period.
Electric capacitors are used in a wide range of applications like in automotive, the internal combustion engine types that are expected to dominate the market, and capacitor vendors offer a wide range of automotive devices for ease, safety, and engine control unit applications. Despite the fact that capacitive sensors have been used in a range of applications for decades, such as production quality assurance, weather, locations, acceleration, and fluid level, capacitive sensing is now a pervasive feature in electric capacitors used in consumer electronics devices.
The energy and power electric capacitor market is divided into film, ceramic and electrolytic according to the material used to make the capacitor. With the development in technologies, capacitors these days have become a necessity for the manufacturing of most electronic devices. With the growing demand for wearable and consumer electronics, it is expected that the film-based capacitor demand will also boost in the industrial sector, raising the market for energy and power electric capacitors in the foreseen period. The surge in demand for supercapacitors in automotive applications is expected to be a significant driver increasing the market's growth. Supercapacitors are suitable for automotive applications because of their long shelf life, high power density, and fast charging capability. In addition, the market is predicted to develop due to the rising demand for renewable energy systems and favourable government regulations.
Restraints
The energy and power electric capacitor market is expected to see some major restraints owing to the capacitor value tolerances, equivalent series resistance capacity, and a limited life period. Once power has been disconnected from a circuit, electric capacitors may retain a charge that might generate a harmful or fatal jolt or damage associated devices. When capacitors are exposed to voltages or currents that exceed their tolerances, or when they reach their usual end of life, they can eventually fail, which is also expected to cause a restrain in the growth of the energy and power electric capacitor market.
Coronavirus outbreak globally impacted several industries to shut down their manufacturing and supplying units. Due to this, the consumer electronics and industrial application of electric capacitors were affected, and hence the period witnessed a slight slow growth rate in the market of energy and powered electric capacitors. Stringent laws of lockdown implemented by several nations' governments have impacted the demand and supply globally in the automobile industry, which is expected to be one of the major sectors jolted by the outbreak. Due to the complete lockdown, many manufacturing units were shut down, leading to the decline of the electric capacitor in the automotive industry.
The Asia-Pacific area has been impacted by the COVID-19 epidemic, resulting in limited acceptable movement. Asian countries under siege have lost a substantial amount of business and money due to the closure of many manufacturing operations in the region. The disease's spread has had a substantial influence on transportation, consumer electronics, and vehicle manufacturing activities, resulting in a slowdown electric capacitor market's growth in 2020.
Regional Analysis
Because of the robust manufacturing of consumer electronic devices and increased individual spending on electronic appliances, the Asia Pacific electric capacitor market is expected to rise significantly. Product demand will be fuelled by an increasing reliance on technology for everyday activities, which will be assisted by ongoing residential and commercial construction initiatives. The commercial picture will be complemented by the rapid growth of HVDC transmission technologies and renewable energy, such as wind and solar, as well as the advancement of electric car infrastructure.
| Report Metric | Details |
| Market size value in 2020 | US$1.043 billion |
| Market size value in 2027 | US$1.671 billion |
| Growth Rate | CAGR of 6.97% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Type, Polarization, Industry Verticals, Voltage, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | KEMET Corporation, Vishay Intertechnology, Inc., TDK Corporation, Taiyo Yuden Co., Ltd., Yageo Corporation, Murata Manufacturing Co., Ltd., Panasonic, Nichicon Corporation, Nippon Chemi-Con Corporation, Walsin |
| Customization scope | Free report customization with purchase |
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What is the size of the global energy and power electric capacitor market?
A1. Energy And Power Electric Capacitor Market was valued at US$1.043 billion in the year 2020.
Q2. What will be the energy and power electric capacitor market size by 2027?
A2. The energy and power electric capacitor market is projected to reach a market size of US$1.671 billion by 2027.
Q3. What are the growth prospects for the energy and power electric capacitor market?
A3. The global energy and power electric capacitor market is projected to grow at a CAGR of 6.97% during the forecast period.
Q4. What factors are anticipated to drive the energy and power electric capacitor market growth?
A4. The electric capacitor market is expected to rise due to the increased functionality, coherence, and complexity of electronic devices, as well as the rising demand for smart components from emerging economies.
Q5. Which region holds the maximum market share in the energy and power electric capacitor market?
A5. The Asia Pacific region is expected to hold the largest share in the energy and power electric capacitor market because of the robust manufacturing of consumer electronic devices and increased individual spending on electronic appliances.
KEMET Corporation
Vishay Intertechnology, Inc.
Taiyo Yuden Co., Ltd.
Yageo Corporation
Murata Manufacturing Co., Ltd.
Panasonic
Nichicon Corporation
Nippon Chemi-Con Corporation
Walsin
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