Technavio has announced its latest market research report titled Global Film Capacitor Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Film Capacitor Market 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--Scope of the report
This report provides a detailed analysis of the film capacitor market by type (polyester film capacitors, polypropylene film capacitors, PTFE film capacitors, and others), application (AC applications and DC applications), and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Cornell Dubilier Electronics Inc., Hitachi High-Technologies Corp., KEMET Corp., NICHICON Corp., Panasonic Corp., Suntan Technology Co. Ltd., TDK Corp., Vishay Intertechnology Inc., WIMA GmbH & Co. KG, and XIAMEN FARATRONIC Co. Ltd. Increasing requirements for medical-grade capacitors is a key trend in the global film capacitor market which will lead to significant market growth. Film capacitors are widely used in the development of diagnostic medical equipment such as magnetic resonance imaging (MRI), positron emission tomography (PET), computerized tomography (CT) scanners, and X-ray units. Similarly, thin-film capacitors are extensively used in implantable medical devices such as stimulators, drop foot appliances, pacemakers, and cardioverters. All these factors are leading to a positive outlook for the film capacitor market.
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Film Capacitor Market: Segmentation by Geography
The market is segmented into five regions encompassing APAC, Europe, North America, South America, and MEA. APAC was the largest market for film capacitors in 2019, and the region is expected to offer several growth opportunities to market vendors during the forecast period. About 72% of the market’s growth will originate from APAC during the forecast period. The market in APAC is driven by factors such as increasing investments in power grids, increasing demand for renewable power, and increasing adoption of EVs in the region. China and Japan are the key markets for film capacitors in APAC.
Film Capacitor Market: Segmentation by Type
The film capacitor market is segmented into four segments based on the type comprising of polyester film capacitors, polypropylene film capacitors, PTFE film capacitors, and others. The market witnessed a huge demand for polyester film capacitors in 2019. Polyester film capacitors are extensively used in the automotive, consumer electronics, lighting, power, and telecommunication industries for non-critical applications such as noncritical filtering, coupling, and decoupling. In addition, factors such as the low cost of polyester films and the self-healing capability of metalized polyesters are creating significant growth potential in the segment.
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Film Capacitor Market: Growth Drivers
Increasing adoption of EVs and HEVs will drive market growth. Growing concerns over environmental degradation caused by fossil fuels and the rising oil prices are compelling consumers to look for more convenient and affordable options such as EVs and HEVs. Also, many governments are encouraging the adoption of EVs and HEVs by offering incentives and subsidies. Metalized film capacitors are widely used in EVs and HEVs to prevent ripple currents from reaching the power source. They are also used to smooth out the DC bus voltage in EVs. Thus, the increasing adoption of EVs and HEVs will be crucial in driving the growth of the global film capacitor market during the forecast period.
Film Capacitor Market: Market overview
The film capacitor market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. Cornell Dubilier Electronics Inc., Hitachi High-Technologies Corp., and KEMET Corp. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the increasing number of counterfeit products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years)
Film Capacitor Market: Parent Market Overview
Technavio categorizes the global film capacitor market as a part of the global electronic components market within the electronics market. The parent global electronics market includes manufacturers of communications equipment, technology hardware storage and peripherals, electronic equipment and instruments, electronic components, consumer electronics, and industrial electronics products, as well as electronic manufacturing services.
Growth in the global electronic components market will be driven by the increased deployment of IoT devices.
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: https://www.technavio.com
The Global Film Capacitor Market will grow by $ 132.83 mn during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: https://www.technavio.com