India Low
Voltage Capacitors market is expected to register a high CAGR during the
forecast period, 2025-2029. Low voltage capacitors are electronic components
designed to store and release electrical energy in an electric field. They are
typically used in various electrical systems and devices to improve the power
quality and efficiency of the circuit. Low voltage capacitors are available in
various types such as paper/polypropylene film capacitors, ceramic capacitors,
aluminium electrolytic capacitors, and others. They are used for applications
such as power factor correction, motor starting, lighting, and more. Low
voltage capacitors are also used to enhance the performance and lifespan of
electrical equipment by reducing power losses and improving power factor. They
are widely used in industries, commercial buildings, and residential
applications. With the increasing demand for energy-efficient solutions and the
modernization of power infrastructure, the market for low voltage capacitors is
expected to grow significantly during the forecast period.
The Low
Voltage Capacitors market in India has been experiencing significant growth in
recent years. They are used in various applications, such as power factor
correction, motor starting, and lighting. Increasing urbanization in quest of
better career prospects, as well as increased desire for higher living
standards, are likely to be major drivers of low voltage capacitor market
growth during the forecast period. Increasing disposable income among
middle-class families increases customers' spending power, allowing them to
purchase technological devices. Penetration of internet services owing to
affordable services supplied by telecommunication firms is assisting in the
rise of smart devices, laptops, and desktops, among others, which require a
power supply for battery charging. The expansion of electricity, automotive,
and consumer electronics industries is anticipated to boost the region's low
voltage capacitor market.
The India low
voltage capacitors market is expected to grow at a steady rate during the
forecast period. The market is primarily driven by the growing demand for power
quality improvement and the increasing adoption of renewable energy sources.
Furthermore, the increasing number of power plants and the modernization of the
existing power infrastructure are expected to drive the growth of the market.
The market is highly fragmented with the presence of several local and global
players. Product innovation, partnerships, and collaborations are some of the
key strategies adopted by these players to strengthen their market position.
Increasing
demand for power quality improvement
Power quality
is a critical aspect of any power system, and it is essential for the efficient
and safe operation of electrical equipment. The demand for power quality
improvement is increasing worldwide and India is no exception. The Indian low
voltage capacitors market is expected to see a significant increase in demand
due to this trend. Low voltage capacitors are widely used in power systems to
improve power quality by reducing voltage drops, power factor correction, and
reducing harmonic distortion. The Indian government has launched various
initiatives to improve power quality, and the use of low voltage capacitors is
one of the solutions to achieve this goal. The Indian government is also encouraging
the use of renewable energy sources, and the use of low voltage capacitors can
help integrate these sources into the grid. The Indian low voltage capacitor
market is also driven by the growth of industries such as power, construction,
and infrastructure. These industries require a reliable and stable power
supply, and the use of low voltage capacitors can help improve power quality
and reduce downtime. The rise in urbanization and the increasing demand for
electricity in rural areas are also driving the demand for low voltage
capacitors.
In conclusion,
the increasing demand for power quality improvement is driving the Indian low
voltage capacitor market. The Indian government's initiatives to improve power
quality, the growth of industries, and the rise in urbanization and electricity
demand in rural areas are some of the factors contributing to this trend. As a
result, the low voltage capacitor market is expected to grow significantly
during the forecast period.
Growing
adoption of renewable energy source
The adoption of
renewable energy sources is rapidly increasing in India, driven by factors such
as the need to reduce carbon emissions and dependence on fossil fuels,
increasing energy demand, and favorable government policies and incentives.
This growth in renewable energy adoption is expected to have a significant
impact on the India low voltage capacitors market. Low voltage capacitors are
essential components in renewable energy systems, as they help to improve power
quality, stabilize voltage, and increase energy efficiency. In particular, low
voltage capacitors are used in wind and solar power systems to reduce power
losses and improve power factor. With the growing installation of wind and
solar power plants in India, the demand for low voltage capacitors is also
expected to increase.
Moreover, the
Indian government's emphasis on renewable energy is evident from the launch of
various initiatives such as the National Solar Mission, the Wind Energy
Program, and the Smart Cities Mission. These initiatives are expected to
provide a significant boost to the renewable energy sector, leading to an
increase in the demand for low voltage capacitors.
In addition to
renewable energy, the India low voltage capacitors market is also expected to
benefit from the growth in industries such as manufacturing, healthcare, and
infrastructure. These sectors require reliable and efficient power supply,
which can be achieved by using low voltage capacitors. In conclusion, the
growing adoption of renewable energy sources, coupled with favorable government
policies and the need for efficient power supply, is expected to drive the
demand for low voltage capacitors in India.
Modernization
of existing power infrastructure
The
modernization of existing power infrastructure is a key factor that is expected
to drive the growth of India low-voltage capacitor market. The India power
sector has been facing various challenges such as power shortages, poor quality
of power supply, and high transmission and distribution losses. These challenges
have created a pressing need to upgrade and modernize the existing power
infrastructure, which is expected to create a significant demand for
low-voltage capacitors. Low-voltage capacitors are essential components in
power infrastructure modernization as they help to improve the power factor,
stabilize voltage, and reduce power losses. The use of low-voltage capacitors
in the power infrastructure can help to improve the efficiency of the
electrical system, reduce energy consumption, and improve the reliability of
power supply. Moreover, the Indian government has launched various initiatives
such as the Integrated Power Development Scheme (IPDS) and the Smart Cities
Mission, which aim to modernize and upgrade the power infrastructure in the
country. These initiatives are expected to drive the demand for low-voltage
capacitors as they require the deployment of advanced technologies and
solutions to improve the efficiency and reliability of power supply.
Recent
Development
- In February 2023, Hitachi Energy
constructed a high-voltage direct current (HVDC) and power quality factory
at Mahindra World City to help meet the country's expanding electricity
demand. It is the world's second testing lab for power quality control
systems and the most recent HVDC factory established.
- In March 2023, the Power Grid
Company of India Limited (PGCIL) has granted GE T&D India Ltd. a 1.62
billion (22.87 million) contract to extend the 765 kV air-insulated
substation (AIS) and construct a new 400 kV/220 kV gas-insulated substation
(GIS) in Bhuj, Gujarat. Turnkey delivery of the project is planned within
5 years. The deal also includes the extension of the existing 400 kV GIS
at the Tirunelveli substation. The project, which is part of the green
corridor transmission system, will assist in the evacuation of around
2,500 MW of wind power generated in Gujarat.
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Market
Segments
The India Low
Voltage Capacitors market is segmented on the basis of type, voltage capacity,
application, and region. Based on type, the market is further segmented into
ceramic capacitor, aluminum capacitor, plastic film capacitor and tantalum
capacitor. Based on voltage capacity, the market is further divided into upto
200V, 200-500V and more than 500V. Based on application, the market is further
segmented into consumer electronics, automotive, home appliances, computer
& peripheral, and industrial power factor correction. On the basis of
region, the market is divided into East India, West India, North India, and
South India.
Market
Players
Major market
players in India Low Voltage Capacitors market are ABPS Solution Pvt. Ltd,
SHARDA Electronics & Co, Hitachi Energy India, Arteche Smartgrid India
Private Limited, Powercap Capacitors Pvt. Ltd, Siemens Limited, Universal
Cables, Ltd., Energe Capacitors (P) Ltd, GE T&D India Limited, and Eaton
India. To achieve good market growth, businesses that are active in the market
employ organic tactics such as product launches, mergers, and partnerships.
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Attribute
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Details
|
|
Base Year
|
2023
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|
Historic Data
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2019 –
2022
|
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Estimated Year
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2024
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Forecast Period
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2025
– 2029
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|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2019-2023 and 2024-2029
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|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
|
Segments covered
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By Type
By Voltage Capacity
By Application
By Region
|
|
Regional scope
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East
India, West India, North India, South India
|
|
Key companies profiled
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ABPS Solution Pvt. Ltd, SHARDA Electronics & Co, Hitachi
Energy India, Arteche Smartgrid India Private Limited, Powercap Capacitors
Pvt. Ltd, Siemens Limited, Universal Cables, Ltd., Energe Capacitors (P) Ltd,
GE T&D India Limited, Eaton India.
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|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in PPT/Word
format on special request)
|
Report
Scope:
In this report,
India Low Voltage Capacitors market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- India Low Voltage Capacitors
Market, By Type
o
Ceramic
Capacitor
o
Aluminum
Capacitor
o
Plastic
Film Capacitor
o
Tantalum
Capacitor
- India Low Voltage Capacitors
Market, By Voltage Capacity
o
upto
200V
o
200-500V
o
More
than 500V
- India Low Voltage Capacitors
Market, By Application
o
Consumer
Electronics
o
Automotive
o
Home
Appliances
o
Computer
& Peripheral
o
Industrial
Power Factor Correction
- India Low Voltage Capacitors
Market, By Region:
o
East
India
o
West
India
o
North
India
o
South
India
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in India Low Voltage Capacitors market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
India Low
Voltage Capacitors Market is an upcoming report to be released soon. If you
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please contact us at
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