Never-ending technological advancements in the consumer electronics space and the growing complexity of electronics is encouraging manufacturers to switch to components delivering high-speed energy. Electric capacitors, one of the most essential electronics components, are poised to witness a robust demand in the upcoming years, driven by the growing adoption of smartphones, smart wearables, and other gadgets.
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ABB, Siemens, Panasonic, Samsung, and Maxwell Technologies are a few notable manufacturers of electric capacitors. These companies are constantly exploring expansion opportunities in the form of mergers, acquisitions, strategic collaborations, and supply deals. In November 2018, ABB had been selected to supply electronics equipment including electric capacitors and other critical components for the Zhangbei HVDC grid in China’s Beijing-Tianjin-Hebei region.
Global Market Insights, Inc., forecasts that global electric capacitor market size will exceed a valuation of more than US$25 billion by 2025. Explained below are some of the most prominent trends augmenting the adoption of electric capacitors in the coming years.
· Electrolytic capacitors to witness substantial demand
Electrolytic capacitors are among the most widely used components in consumer and automotive electronics. Their ability to deliver high capacitance and high sustainability in compact packages makes them ideal for myriad mission critical aerospace and military applications. With rising household incomes and growing popularity of consumer electronics, electrolytic capacitors are poised to experience a robust demand.
These capacitors are increasingly gaining acceptance in the automotive industry. This can be associated with growing integration of electronics and convenience systems such as air conditioners, automatic windows, and wipers. Many automakers are focusing on implementing alternative propulsion technologies into vehicles, which will further propel the product penetration.
· Active investments towards smart grid deployment
With growing focus over environmental sustainability, the need for energy-efficient storage solutions has increased tenfold over the past decade. Respective governments are actively encouraging the adoption of renewable power sources. These trends, along with the upgradation of existing grid infrastructure is likely to boost the demand for electric capacitors.
Additionally, many regions are focusing on the development and deployment of smart grid infrastructure to address the burgeoning demand for reliable and uninterrupted power supply. To ensure safety and reliability of smart grids, governments have introduced stringent regulatory measures to alleviate overload conditions.
· Growing popularity of personal entertainment systems
In terms of the voltage, low voltage electric capacitors are poised to witness appreciable demand in the near future. These capacitors are prominently used in consumer electronics on account of short replacement cycles and gradually dropping prices. Low voltage capacitors can support some of the most critical applications and functions in smartphones and other consumer electronics gadgets.
In addition to portable electronics, 4K and OLED TVs have been among the fastest-emerging trends in the home appliances space. Ongoing developments in personal entertainment systems and integration of advanced features such as voice control are further driving the popularity of these television technologies, which will offer promising opportunities to electric capacitor manufacturers.
While electric capacitors will continue to experience a healthy demand across the consumer electronics sector, their growing deployment in automotive electronics, advanced driver assistance systems, and in-vehicle infotainment systems will complement the industry outlook.