The Spain electric capacitor market is evaluated at US$79.634 million in 2020
The electric capacitor, like a rechargeable battery, can store energy in the form of electrical charge while producing a static voltage across its plates. It has effectively superseded traditional batteries due to its simple charging and discharging features and lightweight. As technology has progressed, capacitors have become an essential component in producing practically every electronic device. The growing use of electric capacitors in industries such as industrial, automotive electronics, consumer electronics, energy, and others are propelling the Spain electric capacitors market forward.
The market is driven by the electric capacitor's increased capacitance value. Electric capacitors are an important component in the circuit designer’s inventory, combining small size with high capacitance and low cost compared to other types of capacitors. The electric capacitor market is growing due to its extended service life and low cost. Limited energy storage, on the other hand, may cause market growth to slow due to its poor energy capacity. If electric capacitors are not mounted properly, they will not attain the correct capacitance and may cause internal gas pressure, leading to an explosion. As a result of these shortcomings, market growth may suffer.
Moreover, if installed correctly, electric capacitors are a very integral part of circuit design, as they can provide high capacitance for a small capacitor. As a result of the rising demand for consumer durables, the demand for electric capacitors is expected to rise, potentially creating an opportunity for the electric capacitor market.
The market for film-based electric capacitors is expected to increase steadily due to their utilization in automotive electronic units, as well as their ability to perform stable operations in higher temperature and vibrating settings. The high voltage handling capability of these items, in comparison to their competitors, is attributable to their widespread applicability.
Polarized electric capacitors are expected to rise in the coming years, according to polarisation. High capacitance, the capacity to endure large charge and discharge cycles, as well as rapid supply and charge storage are all key attributes that are driving product adoption. The non-polarized section, on the other hand, will grow because of its excellent stability, low current leakage, and low losses at high frequencies.
In terms of voltage, the growth of the low voltage market will be fuelled by rising demand for consumer electronics, fuelled by strong urban population growth, and steadily falling prices. Because of the increased focus on decreasing power system losses and providing an efficient and continuous power supply, the high voltage sector will rise.
Considering the industry vertical or the end-user, the electric capacitor market will expand due to increased demand for cell phones, digital camcorders, and laptops, as well as their short replacement cycles. The introduction of new technologies such as 4K and OLED televisions that have a variety of electronic content and functionality needs improved energy density, capacitance, and bandwidth, promoting acceptance of technology.
Due to the release and adoption of new consumer items such as wireless speakers and smart wearables, Spain is predicted to grow at a solid CAGR over the projection period. The European market will grow as a result of shifting trends toward energy-efficient technologies, as well as aggressive government efforts to reduce emissions. Furthermore, increased measures to promote electric mobility, as well as federal subsidies to encourage the adoption of renewable energy systems, will propel the industry forward.
The unprecedented pandemic crisis in 2020 caused a major blow to the automotive industry, which was one of the first to be struck, first by supply chain issues and subsequently by limitations on non-essential businesses. The crisis exacerbated a scenario that was already precarious due to the consequences of new European environmental legislation. The sector’s activity increased only marginally. The automotive sector came to a complete halt for nearly a month and a half when the state of emergency was declared in mid-March 2020. At the same time, there was no capacity to meet the demand for vehicles, resulting in significant restrictions on travel and potential customers being confined to their houses, not to mind the economic uncertainties.
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