Report Overview
India Film Capacitor Market Highlights
India Film Capacitor Market Size:
India's film capacitor market is anticipated to grow at a compound annual growth rate (CAGR) of 9.74% over the forecast period to reach US$202.159 million by 2029, increasing from an estimated value of US$126.998 million in 2024.
India Film Capacitor Market Trends:
The electronics industry in India is experiencing noteworthy development, driving an expanded requirement for film capacitors, fundamental components utilized in different consumer gadgets such as smartphones, TVs, and tablets. India has grown as a noticeable manufacturing center, seeing a considerable rise in the production of household electronics from US$29 billion in 2014-15 to US$101 billion in 2022-23. This segment contributed to the GDP of India by about 3.4 percent.
In addition, the Indian government's emphasis on renewable energy activities and updating power grid viability has upheld the requirement for film capacitors. These components play a crucial part in stabilizing voltage and empowering power generation, catering to India's long-standing need for renewable power targets. The prospering electric vehicle (EV) industry in India has, in addition, created a significant driving component behind the extended requirement for film capacitors.
Moreover, the rapid increase in urban population as well as infrastructural advancement in the various regions of the country has propelled the requirement for diverse sectors, including infrastructure for power distribution and industrial machinery, to assist in driving the necessity for film capacitors in industrial business. Their cost-effectiveness and adaptability make them a favored course of action for different applications. These combined components are affecting the Indian film capacitor industry's advancement, with expectations of a sustained expansion in the future.
India Film Capacitor Market Growth Drivers:
- Increasing demand for electric vehicles
The rapidly rising electric vehicle (EV) industry in India works as a significant catalyst for the film capacitor industry. Unlike ordinary gasoline vehicles, EVs intensely depend on capacitors to optimize performance and safeguard delicate components. Strikingly, EV sales in India surged from 12,000 units in 2021 to 48,000 units by 2022.
Aluminum electrolytic capacitors are broadly utilized in EVs for their high capacitance and potential to maintain high voltage levels, making them well-suited for power control management and DC-link smoothing tasks. Compared to traditional vehicles, EVs demand a greater variety and quantity of capacitors owing to their intricate power electronics systems. Capacitors designed for EV applications must possess attributes such as high voltage ratings, rapid charging capabilities, and extended operational temperature ranges.
Moreover, the Indian government’s concerted efforts to foster domestic EV manufacturing will spur demand for locally produced capacitors, thus presenting a favorable opportunity for Indian film capacitor manufacturers to thrive.
India Film Capacitor Market Segment Analysis:
- The Foil Electrode segment is expected to propel in the forecasted period
The foil electrode is made from aluminum, copper, and nickel and is coated with ceramic and metal particles. These metal foils serve as electrically conducting electrodes within designated electrolytic capacitors to minimize the capacitor's footprint while amplifying its discharge performance.
These foil electrodes are used in a variety of industries, including power supplies, industrial automation, industrial drivers, and lighting systems. With the progress in industrial automation and rising industrialization in developing countries such as India, the market for film capacitors is expected to rise in the coming years in India.
Additionally, the country’s government is also eagerly encouraging the people to manufacture domestically, which can also add fuel to the market. For instance, the Indian government has rolled out multiple strategies aimed at strengthening the manufacturing sector and encouraging both local and international investments in the nation. These measures incorporate the introduction of the Goods and Services Tax (GST), decreases in corporate tax charges, mediations to progress the commerce climate, changes in the Foreign Direct Investment (FDI) policy and approach, endeavors to streamline regulatory administrative compliance initiatives outlined to bolster domestic manufacturing through public acquirement, and the execution of the Phased Manufacturing Program (PMP), among other policies.
Moreover, the utilization of foil electrodes ranges from a differing extent of applications in consumer gadgets and many other electronic equipment. Additionally, many mining drilling equipment leverages film capacitors, particularly in high-temperature environments. With these activities on the rise, there's a substantial anticipated growth in the market for foil electrodes. Besides, the quick extension of these end-use industry businesses in India is anticipated to fuel the demand for foil electrodes. For instance, according to the Ministry of Mines, the total worth of mineral production (excluding atomic and fuel minerals) for the financial year 2021-22 has been approximated at Rs. 21,1857 crores, stamping an increment of around 31.96% compared to the previous year.
In addition, according to the information from Invest India, the domestic electronic manufacturing division in India comes to a value of US$ 101 billion for the FY 2023. This production is categorized into 43% for mobile phones, 12% for consumer electronics, 5% for IT equipment, and the remaining 40% for other items. With the electronic industry in India encountering noteworthy development, there's an expected market expansion for film capacitors within the anticipated period.
India Film Capacitor Market Scope:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2024 | US$126.998 million |
| Market Size Value in 2029 | US$202.159 million |
| Growth Rate | CAGR of 9.74% from 2024 to 2029 |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segments Covered |
|
| Companies Covered | |
| Regions Covered |
Maharashtra, Tamil Nadu, Gujarat, Karnataka, Uttar Pradesh, Others |
| Customization Scope | Free report customization with purchase |
India's Film Capacitor Market is segmented and analyzed as below:
- By Film Used
- Polyester
- Polypropylene
- Others
- By Application
- High Voltage
- Low Voltage
- By End-User Industry
- Automotive
- Electric Vehicles ( EVs)
- Internal Combustion Engine Vehicles ( ICEVs)
- Hybrid Vehicles (HEVs)
- Consumer Electronics
- Aerospace & Defence
- Power & Utilities
- Green Power
- Conventional Power Generation
- Smart Grids and Energy Storage
- Telecommunications
- Automotive
- By State
- Maharashtra
- Tamil Nadu
- Gujarat
- Karnataka
- Uttar Pradesh
- Others