Power Capacitors Market Size, Share, Growth Analysis, By Type(Plastic film capacitors, aluminum electrolytic capacitors, ceramic capacitors, tantalum wet capacitors), By End-User(Industrial, electronics, automotive, aerospace and defense), By Region - Industry Forecast 2024-2031

Power Capacitors Market size was valued at USD 12.97 billion in 2021 and is poised to grow from USD 14.25 billion in 2022 to USD 30.33 billion by 2030, growing at a CAGR of 9.9% in the forecast period (2023-2030).

Power Capacitors Market is highly fragmented, with several and regional players competing for market share. These key players are involved in various activities such as research and development, product innovation, mergers and acquisitions, partnerships, and collaborations to increase their market share and stay competitive. In addition, they also focus on expanding their product portfolio, improving their manufacturing capabilities, and enhancing their distribution networks to better serve their customers. 'ABB Ltd.', 'Schneider Electric SE', 'Eaton Corporation PLC', 'Siemens AG', 'Murata Manufacturing Co. Ltd.', 'TDK Corporation', 'Nippon Chemi-Con Corporation', 'Vishay Intertechnology, Inc.', 'AVX Corporation', 'KEMET Corporation', 'Maxwell Technologies, Inc.', 'EPCOS AG', 'GE Grid Solutions', 'L&T Electrical & Automation', 'Ducati Energia SpA', 'Alstom SA', 'Samwha Capacitor Group', 'Electrotherm (India) Limited', 'ZEZ Silko a.s.', 'RTDS Technologies Inc.', 'In June 2021, ABB announced the launch of a new generation of medium voltage capacitors for power factor correction and voltage regulation in industrial applications.', 'In April 2021, Eaton Corporation announced the expansion of its Power Xpert Capacitor portfolio with new products designed to improve power factor correction and harmonic filtering in industrial and commercial applications.', 'In March 2021, Schneider Electric announced the launch of a new range of low-voltage power factor correction capacitors, designed to improve the efficiency and reliability of electrical systems in industrial and commercial applications.'

The power capacitors market is seeing an increase in demand for electricity due to a number of factors. Power capacitors are devices used to store and release electrical energy in power systems, and they play a crucial role in the efficient and reliable operation of electrical networks. As the world becomes more industrialized and urbanized, the demand for electricity is increasing. This is because more people are living in cities and working in factories, and these places require large amounts of electricity to power the machinery and equipment they use. The demand for electricity is also increasing because of the growing use of renewable energy sources like wind and solar power. These sources of energy are intermittent and can be unpredictable, so power capacitors are needed to help balance the grid and ensure a stable supply of electricity. The development of smart grids is another factor contributing to the increased demand for electricity. Smart grids use advanced technologies to monitor and manage the flow of electricity in real time, and power capacitors are an important component of these systems. The growing popularity of electric vehicles is also driving up the demand for electricity. As more people switch to electric cars, the demand for charging stations and other infrastructure is increasing, and this requires more electricity to be generated and distributed.

The growing demand for high-voltage capacitors is one of the significant trends in the power capacitors market. High-voltage capacitors are designed to operate at high voltages and store large amounts of electrical energy. They play a crucial role in various applications such as power transmission, distribution, renewable energy systems, and electric vehicles. One of the primary drivers of the growing demand for high-voltage capacitors is the increasing demand for electricity transmission and distribution. High-voltage capacitors are used in power transmission and distribution systems to store and release energy, which helps to maintain the system's stability and reduce power losses. As the demand for electricity continues to grow, the need for high-voltage capacitors is also increasing. Another significant factor driving the demand for high-voltage capacitors is the rapid growth in renewable energy systems. Renewable energy sources such as wind, solar, and hydropower generate electricity intermittently, and their output varies with changing weather conditions. High-voltage capacitors are used in renewable energy systems to store and release energy, which helps to maintain power quality and stabilize voltage fluctuations. As the adoption of renewable energy sources continues to grow, the demand for high-voltage capacitors is also increasing. The growth of the electric vehicle market is also driving the demand for high-voltage capacitors. High-voltage capacitors are used in electric vehicles to store and release energy, which helps to improve vehicle performance and reduce energy consumption. As the adoption of electric vehicles continues to grow, the demand for high-voltage capacitors is also increasing. In addition, technological advancements in high-voltage capacitors have also contributed to their growing demand. The development of advanced materials and design techniques has led to the production of high-performance high-voltage capacitors that can operate under extreme conditions. The increased efficiency and reliability of high-voltage capacitors have made them more attractive for various applications, further contributing to their growing demand.

North America is a mature market for power capacitors, with a high level of technological advancement and established infrastructure. The United States is the largest market in this region due to the high demand for electricity and the presence of major players in the market. The North American power capacitors market is expected to grow at a moderate pace, with a significant CAGR during the forecast period. The major applications of power capacitors in North America include power transmission and distribution, renewable energy systems, industrial power supplies, and automotive electronics. The North American market is witnessing a trend toward the development of smart grids and the integration of renewable energy sources like wind and solar power. This is driving the demand for power capacitors to help balance the grid and ensure a stable supply of electricity. The regulatory environment in North America is supportive of the development of renewable energy and energy storage systems, which is driving the demand for power capacitors. In addition, the region has stringent energy efficiency standards, which is also contributing to the growth of the market.