New York, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global water cooled capacitors market is predicted to increase at a CAGR of 7.9% from 2023 to 2033. The report forecasts that global market valuation will reach US$ 1.65 billion by the end of 2033.
Rise in demand for water cooled capacitors in the automotive industry has been driving substantial market growth. High-temperature applications continue to demand more from water cooled capacitors. Additionally, ADAS elements, including blind-spot recognition, adaptive cruise control, and emergency braking aids, are used in automobile applications, along with safety systems such as airbag occupant detection, alarm systems, and electronic stability control. Additionally, tantalum capacitors can be employed in digitalization use cases such supercomputing, mobility services, communication, and entertainment.
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Electronic equipment driving EVs, HVs, FCVs (fuel-cell vehicles), and other cars with electrical drive systems is playing an increasingly essential role and taking on a wider variety of forms and functions. Also, due to favorable government legislation and expanding incentive programs for the adoption of electric vehicles around the world, the demand for electric vehicles is rising steadily. Eventually, the demand for high-performance, reliable water-cooled capacitor technology will be pushed by the rising number of electric vehicles (EVs).
Key Takeaways from Market Study
- By capacitor type, polypropylene is set to account for a leading market share.
- By voltage rating, the high (more than 3.5 KV) segment is estimated to exhibit staggering growth at CAGR 9.5%.
- By frequency rating, the medium segment will enjoy a leading share of the market.
- By end-use industry, the renewables segment is estimated to witness high growth at a CAGR of 10%.
- By application, the heating & melting segment is expected to account for a leading market share.
- By provider type, the replacement market is estimated to exhibit a CAGR of 8.7% through 2033.
- Europe is estimated to be the market leader for water cooled capacitors with a market share of 29.2%, followed by North America with 24.8% and East Asia with 22%.
“Considerable increase in the use of medical imaging, heating & melting, and other variables are some of the key drivers impacting market growth,” says a Persistence Market Research analyst.
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Cost Effectiveness - Major Driver of Water Cooled Capacitors Market
Utilizing banks of tiny capacitors is more expensive and takes up more space than using water-cooled capacitors. Additionally, they are more efficient than forced-air cooled capacitors. For purposes where forced-air cooling systems cannot be employed, these capacitors are a good option. Induction heating, welding, and dielectric heating systems are just a few of the high-power RF applications that water cooled capacitors are appropriate for.
- In December 2022, to provide a thorough dynamic system rating platform, GE Grid Solutions and LineVision entered into a partnership. Through this agreement, electric utilities should be able to access a comprehensive set of cutting-edge technology for optimizing the grid.
More Valuable Insights on Offer
Persistence Market Research’s report on the water cooled capacitors market is segmented into seven major sections –
By capacitor type (polypropylene, ceramic, aluminum, others),
By voltage rating (low (up to 1 KV), medium (more than 1 KV and up to 3.5 KV),
By high (more than 3.5 KV)), frequency rating (medium, high),
By end-use industry (automotive, aerospace, steel, railways, oil & gas, renewables, others),
By application (heating & melting, resonant circuits/RF, medical imaging, plasma applications, wireless power transfer, EV charging, others),
By provider type (OEM market, replacement market),
By across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa).
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For additional information on how the water cooled capacitors market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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About the Electronics, Semiconductors and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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