India Low Voltage Capacitors Market by Type (Ceramic Capacitor, Aluminum Capacitor, Plastic Film Capacitor and Tantalum Capacitor), By Voltage Capacity (upto 200V, 200-500V, more than 500V), By Application (Consumer Electronics, Automotive, Home Appliances, Computer & Peripheral and Industrial Power Factor Correction), By Region, Competition, Forecast & Opportunities, 2029
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Low Voltage Capacitors Market by Type (Ceramic Capacitor, Aluminum Capacitor, Plastic Film Capacitor and Tantalum Capacitor), By Voltage Capacity (upto 200V, 200-500V, more than 500V), By Application (Consumer Electronics, Automotive, Home Appliances, Computer & Peripheral and Industrial Power Factor Correction), By Region, Competition, Forecast & Opportunities, 2029
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 found at 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.
| Attribute | Details |
| Base Year | 2023 |
| Historic Data | 2019 – 2022 |
| Estimated Year | 2024 |
| Forecast Period | 2025 – 2029 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2019-2023 and 2024-2029 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | By Type By Voltage Capacity By Application By Region |
| Regional scope | East India, West India, North India, South India |
| Key companies profiled | 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. |
| 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) |
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