Selbyville, Delaware, Jan. 08, 2024 (GLOBE NEWSWIRE) --
The low voltage electric capacitor market is expected to reach USD 17.3 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rapid sales of electric vehicles and the incessant need for advanced automotive electronics is expected to augment the preference for various effective capacitors in onboard systems, battery management, and vehicle control units. As per the International Energy Agency (IEA), the total sales of electric cars more than tripled from 4% in 2020 to 14% in 2022. Low voltage electric capacitors meet the increasing shift of the automotive sector towards electrification, connectivity, and enhanced functionalities while being critical to advancement, reliability, and safety of modern vehicle systems. Increasing adoption for energy storage, power management, and electric drive systems will further contribute to the industry expansion.
Low voltage electric capacitor market is expected to record significant value by 2032 driven by rising adoption in low-voltage applications to render stability, high reliability, and tolerance for high temperatures. These capacitors are witnessing widespread demand in consumer electronics, automotive electronics, and telecommunications on account of their compact size and reliability. To that end, the growing focus of manufacturers on product differentiation and development will influence the segment growth. For example, in September 2023, TDK Corporation expanded its CN series of multilayer ceramic capacitors with a unique design and structure.
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The low voltage electric capacitor market is likely to grow from the communications & technology segment between 2023 and 2032, due to increased connectivity, faster data transfer speeds, and the rapid proliferation of IoT devices. Capacitors are widely deployed in telecom infrastructure, base stations, routers, and networking equipment to offer reliability and compactness. Rising scope in high-frequency applications of communication devices for supporting signal filtering, transmission, and reception in smartphones, routers, and wearables will propel the product uptake.
Europe low voltage electric capacitor market is set to observe robust growth from 2023 to 2032 attributed to the influx of stringent regulations due to the strong emphasis on high-quality components. With the robust efforts in grid modernization, capacitors are playing a vital role in smart grid infrastructure for voltage regulation, power factor correction, and improving grid stability. The rapid growth of automotive electronics, smart manufacturing, and energy-efficient systems will also prove favorable for the regional industry development.
Some of the top companies operating in the low voltage electric capacitor market are Siemens, ABB, KEMET Corporation, Murata Manufacturing Co., Ltd., Vishay Intertechnology, Inc., KYOCERA AVX Components Corporation, Cornell Dubilier, Panasonic Corporation, TAIYO YUDEN CO., LTD., SAMSUNG ELECTRO-MECHANICS, ELNA CO., LTD., TDK Corporation, Schneider Electric, Havells India Ltd., Xuansn Capacitor, and WIMA GmbH & Co. KG. These market players are emphasizing collaborative and capacity expansion ventures to widen their global presence. For instance, in July 2022, Schneider Electric expanded PowerLogic PFC, its IoT-connected low voltage capacitor solutions for the NEMA markets.
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Partial chapters of report table of contents (TOC):
Chapter 2 Low Voltage Electric Capacitor Industry Insights
2.1 Industry ecosystem analysis
2.2 Regulatory landscape
2.3 Industry impact forces
2.4 COVID- 19 impact on the industry outlook
2.5 Growth potential analysis
2.6 Porter's Analysis
2.6.1 Bargaining power of suppliers
2.6.2 Bargaining power of buyers
2.6.3 Threat of new entrants
2.6.4 Threat of substitutes
2.7 PESTEL Analysis
Chapter 3 Competitive Benchmarking
3.1 Competitive landscape, 2022
3.2 Innovation & sustainability landscape
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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