Power Capacitors Market

Power Capacitors Market Overview (2022 to 2032)

The overall sales of Power Capacitors are projected to reach a valuation of nearly USD 2.3 Billion by 2032, registering growth at a CAGR of 2% - 4% during the forecast period. However, the market holds an estimated revenue of USD 1.71 Billion in 2022.

Report Attribute	Details
Power Capacitors Market Anticipated Forecast Value (2032)	~USD 2.3 Billion
Power Capacitors Market Projected Growth Rate (2022 to 2032)	2% - 4% CAGR

As smart technology has penetrated the industrial space, the application of capacitors has increased. From small tools to mega machines, capacitors and supercapacitors are in continuous use. A supercapacitor has a wide range of applications. It can deliver high power and enable high load currents owing to its low resistance, expanding the power capacitor market size.

The charging mechanism is simple yet fast and doesn't overcharge. Compared to a battery, a supercapacitor has excellent high- and low-temperature charge, power control, and discharge performance. It is also highly reliable and has low impedance. This fuels the sales of power capacitors in new regions.

Growing demand for induction motors used for the conservation of electrical energy is projected to bolster the adoption of power capacitors. Subsequently, demand for energy efficiency and high power in the electric rail traction transformers will create remunerative opportunities for the market. Let's look at the applications and prospects of power capacitors

Application and Future

With exciting price segments, the power capacitor plays a vital role in general consumer devices. The capacitors now have almost the same price segments as batteries. They provide everything from backup power for mobile phones to battery life extensions for devices that sometimes need quick bursts of power, like a digital camera's zoom feature.

From charging pumps and generating high voltage to storing power, capacitors are connected in parallel with DC circuits for the smooth flow of current. The capacitor works as the catalyst and can be found in the home appliances such as fans, fridges, microwaves and washing machines. It throttles the high power towards these circuits and their motors to start working.

The technology is rising more in line with the properties of a traditional rechargeable battery and is creating a hybrid in the space between the standard capacitor and battery, suiting to parallel connection with batteries to take the best features of both.

• Memory backup in electronic equipment to help manage low power inputRecovery of braking energy for vehicles such as buses and trains
• Energy harvesting in wind and solar helps smooth out intermittent power supplies
• Electric vehicle usage that often needs high-current short power

Industries 4.0, also known as the fourth industrial revolution's components, such as artificial intelligence, big data, and machine learning, have also shaped these power capacitors and their technology. Once added to the circuit, it can remember the device with AI while it provides the limited current that is needed to jump-start the system.

Limitations & Properties

A supercapacitor holds certain limitations, including its high cost and high self-discharge properties. Furthermore, unlike a regular battery, it holds a low specific charge, and its application of the full energy spectrum is hampered by discharge voltage or linear stage.

Because of their properties, supercapacitors are used in many applications. They are widely deployed to deliver power and bridge power gaps. They are a replacement for batteries in certain settings, such as in battery-free devices.

Power capacitors are generally used to enhance the power factor in electrical distribution system. These electronic devices possess excellent temperature stability and frequency characteristics. On account of this, the sales of power capacitors are projected to increase in the forthcoming years.

Further, growing demand for induction motors used in various industries for conserving electrical energy is projected to bolster the adoption of power capacitors. Subsequently, need for energy efficiency and high power in the electric rail traction transformers will create remunerative opportunities for the market.

Which are the Factors Promoting Growth in Power Capacitors Market?

Rising demand for uninterruptable power supply used in medical engineering is projected to surge the demand for power capacitors. In addition to this, rising demand for electric motors and induction motors in agriculture sector will create conducive environment for the market.

Another factor expected to propel the growth include favourable government laws and regulation related to conservation of energy. Also, requirement of radio frequency integrated circuits, voltage and frequency convertors in industrial sector is increasing. This is expected to drive the demand in the market.

Which are the Challenges Faced in Power Capacitors Market?

Growing incidence of leakage of currents in electrical components is projected to limit the use of power capacitors. Additionally, changing equivalent series resistance (ESR) and value tolerance might restrain the demand for power capacitors.

Moreover, increasing demand for an alternative due to short life span of the power capacitors will inhibit the growth in the market.

Will Asia Pacific Power Capacitors Market Exhibit Significant Growth?

As per the latest study, Asia Pacific is estimated to emerge as an attractive pocket in the global market owing to rapid industrialization in developing regions such as China and India.

Growing interests of the governments in expanding the electric distribution networks across the India and China is anticipated to create lucrative opportunities for power capacitors manufacturers.

Subsequently, development of commercial and residential infrastructure is fuelling the need for efficient power supply and electricity, especially in India. To capitalize on this trend, key players are eyeing the India market, aiding the growth in Asia Pacific.

How is Europe Contributing to the Growth in Power Capacitors Market?

The presence of favourable government policies related to the emission of greenhouse gases is propelling the demand for energy-efficient technologies across Europe. This is expected to accelerate the demand for power capacitors.

Apart from this, growing investments in renewable energy systems including wind energy & solar energy will augment the application of power capacitors in the region.

Market Competition

Major players dominating the global power capacitors market include GE Grid Solutions, Eaton Corporation Plc, AB Power System, Aerovox Corp., Nissin Electric, GE Digital Energy, Larsen & Toubro Ltd., ABB Ltd., Schneider Electric, and Clariant Power System, among others.

Manufacturers are developing advanced power capacitors with better voltage stabilization features to expand their consumer base.

Report Scope

Report Attribute	Details
Growth Rate	2% - 4% CAGR
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Voltage, End User, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	GE Grid Solutions; Eaton Corporation Plc; AB Power System; Aerovox Corp.; Nissin Electric; GE Digital Energy; Larsen & Toubro Ltd.; ABB Ltd.; Schneider Electric; Clariant Power System
Customization	Available Upon Request

Key Segments Profiled in the Power Capacitors Market

By Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

By End User:

• Utilities
• Industries
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa

Frequently Asked Questions

What will be the market size of power capacitors market in 2032?

The global power capacitors market is projected to reach nearly USD 2.3 Billion by the end of 2032.

Which region is expected to be exhibit significant growth in the global power capacitors market?

Asia Pacific is expected to dominate the market owing to the development of residential and commercial infrastructure and smart city projects, especially across India.

Which are the key factors propelling the demand in power capacitors market?

Sales of power capacitors are projected to increase at an impressive rate amid growing application in industrial sector.