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Asia Pacific High Voltage Electric Capacitor Market Size - By Material (Film, Ceramic, Electrolytic), By End-Use, Country Outlook & Forecast, 2024 – 2032
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Asia Pacific High Voltage Electric Capacitor Market
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Base Year: 2023
Companies covered: 16
Tables & Figures: 15
Countries covered: 5
Pages: 120
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Asia Pacific High Voltage Electric Capacitor Market Size
Asia Pacific High Voltage Electric Capacitor Market was valued at USD 1.6 billion in 2023 and will grow at a CAGR of 6.1% from 2024 to 2032. The rising complexity, enhanced functionality, and integration of state-of-the-art microprocessors in various devices are driving the need for greater capacitance, which in turn is increasing demand for high voltage electric capacitors in emerging economies of the region including China, India, South Korea, among others.
The proliferation of electronic control units (ECUs) in vehicles has escalated with the progression of automobile electrification over the years. High voltage electric capacitors in these applications are designed to be lightweight, compact, and capable of withstanding vibrations, extreme temperatures, high currents, and voltages, all while maintaining low resistance to minimize temperature increases.
Asia Pacific High Voltage Electric Capacitor Market Trends
The regional power sector is experiencing a surge in capacitor usage owing to substantial investments in energy grids driven by expanding demand for electricity in the developing countries. High voltage capacitors enhance the quality, efficiency, and performance of electrical systems while minimizing power losses. This improvement in efficiency not only reduces environmental impact but also drives the anticipated substantial growth in their adoption over the forecast period. In addition, the digital economy has introduced complexities in electronic devices including televisions, smartphones, security systems, refrigerators, and electric vehicles. The increasing functionalities of these devices have heightened the demand for superior storage solutions, propelling the growth of the high voltage electric capacitor market.
Asia Pacific High Voltage Electric Capacitor Market Analysis
Based on material, the ceramic capacitors industry is anticipated to surpass over USD 1.3 billion by 2032. Ceramic high voltage electric capacitors are experiencing significant growth, driven by increasing demand in power grids, renewable energy systems, and cutting-edge electronics. Shifting preference for capacitors that provide high reliability, superior temperature stability, and compact designs have positively influenced the product demand.
Based on end use, the transmission & distribution high voltage capacitor industry is projected to witness a robust CAGR of over 5.5% through 2032, owing to the rising global population that has increased the demand for efficient & continuous power supply to meet the rising industrial & commercial needs. The surging demand for energy-efficient equipment and the adoption of government launched energy-efficient standards is anticipated to boost the deployment of high voltage electric capacitors.
China high voltage electric capacitor market is predicted to hit USD 950 million by 2032. The country’s high voltage electric capacitor market is set to observe rapid growth, driven by the country's robust economic conditions, accelerating investment for development of power networks, and supportive government policies. For instance, in January 2024, China’s State Grid Corporation plans to invest CNY500 billion (USD 70 billion) in 2024 to develop ultra-high voltage transmission lines, to enhance power supply stability, and increase renewable power consumption.
The U.S. high voltage electric capacitor market is witnessing significant growth, driven by increasing demand for efficient and reliable grid infrastructure along with rising adoption of electric vehicles across the country. Growing demand from renewable energy projects, telecom sector, and advanced consumer electronics for reliable and efficient units has positively influenced the business dynamics.
Asia Pacific High Voltage Electric Capacitor Market Share
Key market players, ABB, Murata Manufacturing Co., Ltd., Panasonic Corporation, SAMSUNG ELECTRO-MECHANICS, Schneider Electric, Siemens, are leading manufacturers of high voltage electric capacitors in the region. Their dominance is attributed to factors like strong brand reputation, technological innovations, reliability, and high customer satisfaction, cementing their status as preferred manufacturer and suppliers in the sector.
Asia Pacific High Voltage Electric Capacitor Market Companies
Major key players operating across the Asia Pacific high voltage electric capacitor industry are:
Asia Pacific High Voltage Electric Capacitor Industry News
This Asia Pacific high voltage electric capacitor market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘000 Units’ and revenue in USD Billion from 2019 to 2032, for the following segments:
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Market, By Material
Market, By End Use
The above information has been provided for the following countries: