Middle East and Africa Electric Capacitor Market: Industry Analysis and Forecast (2023-2029)
Middle East and Africa Electric Capacitor Market was valued at USD 901.75 Million in 2022. The Middle East and Africa Electric Capacitor Market size is estimated to grow at a CAGR of 4.1 % over the forecast period.
Format : PDF | Report ID : SMR_1351
Middle East and Africa Electric Capacitor Market Definition:
Like a rechargeable battery, the electric capacitor may store energy in the form of electrical charge while producing a static voltage across its plates. It has effectively replaced traditional batteries due to its simple charging, discharging, and lightweight characteristics.
Further, the Middle East and Africa Electric Capacitor market is segmented by Material, Voltage, End Use and geography. On the basis of Material type, the Middle East and Africa Electric Capacitor market is segmented under Film, Ceramic, Electrolytic, and Others. Based on the Voltage, the Electric Capacitor market is segmented under the Low, Medium, and High. Based on the End-Use, the Electric Capacitor market is segmented under the channels of Consumer Electronics, Automotive, Communication & Technology, Transmission & Distribution, and Others. By geography, the market covers the major countries in Middle East and Africa i.e., South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt and Rest of Middle East and Africa For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).
Middle East and Africa Electric Capacitor COVID 19 Insights:
Several factories throughout the world have shut down as a result of the COVID-19 outbreak. Original equipment manufacturers in the automotive and consumer electronics industries are expected to postpone orders for electric capacitors as a result of the stoppage. As a result, the growth of the electric capacitor market slowed slightly in 2021.
The automotive sector is one of the primary industries that have been hit hard by the COVID-19 outbreak. Lockdowns and the shutdown of car manufacturing operations in many nations across the world have had influence on both supply and demand for autos. Several automakers in the impacted countries have stopped manufacturing, resulting in a temporary decline in demand for automotive electric capacitors.
Middle East and Africa Electric Capacitor Market Dynamics:
- Growing Demand for Fuel-Efficient Vehicles
Customers are looking for fuel-efficient vehicles as fuel prices rise and restrictions tighten. Electric vehicles (EVs) and hybrid electric vehicles (HEVs) are extremely fuel-efficient, and EVs do not use fossil fuels or harm the environment. EVs will lead the market. Automobile manufacturers are increasingly adopting ultra-capacitors due to increased demand for fuel-efficient automobiles.
There will be significant growth in the Electric Capacitor market through the forecast period. The electric vehicle market is having around 15 % of CAGR. It will reach around 93.10 Bn market through the forecast period.
- Adopting the deployment of Electric Capacitors in EVs and HEVs
Showing a rapid growth in recent years in 2021 electric car market achieved 10 Mn cars on the road mark. 43% increase was seen in the sale of EVs 2021. As the demand for EVs is increasing the market for Electric Capacitors is going to increase. The EV market is adopting modern technology for providing the best solution for petrol or diesel cars.
Adoption of Electric Capacitors in EVs is increasing due to the various benefits like better fuel efficiency, storage of energy, longer battery life, etc. Electric Capacitors are very much beneficial for EVs and HEVs. Adopting the deployment of Electric Capacitors in EVs and HEVs is driving the market growth as their use enables the vehicle manufacturers to reduce the vehicle weight, expand the battery capacity, and reduce CO2 emission.
- Developing new energy conservation and storage techniques
The consumer electronics markets on-going technical improvements, particularly in the smartphone segment, have pushed companies to choose high-speed energy-offering devices. Furthermore, increasing usage across applications needing a mix of high capacitance and voltage in the automotive and power T&D industries will add to the positive outlook.
- Reduction in Maintenance Prices
Long-term trends toward reduced prices and maintenance costs, as well as fewer import restrictions, are some of the important factors that will help grow the market. In addition, the launch of next-generation automotive electronics to support advanced driver assistance systems, as well as growing customer demand for mobility and connection, will drive the industrial landscape forward. Furthermore, the development of new applications such as renewable energy systems, electronic controls for industrial machinery and engines, hybrid transportation concepts, and personal computing devices will drive product demand even higher.
Growth Restraints in the Automotive Electric Capacitor Market:
Despite the demand for EVs and HEVs, their higher prices as compared to normal vehicles are a major constraint. EVs are not available in the affordable ranges that any customer can afford it. EVs are having around 2-2.5 times higher prices.
The charging infrastructure is a very important part of the EV market infrastructure is one of the major constraints for the EV market. Without the proper infrastructure, it is difficult to grow an EV market, EV companies are working on that and in the upcoming few years, it is expected that the required infrastructure will be developed.
Middle East and Africa Electric Capacitor Market Segment Analysis:
By Material, Due to their use in automotive electronic units and their ability to perform stable operations in higher temperature and vibrating environments, the market for film-based electric capacitors is predicted to grow gradually. In comparison to their competitors, these items have a higher voltage handling capability, which contributes to their wide use.
The electrolytic capacitor market has grown as a result of on-going developments in the electric mobility sector, which have increased the use of car convenience systems including automated windows, air conditioning, and airbag controls.
Furthermore, favourable government programs for zero or low-emission vehicles, as well as a growth in the number of Electronic Control Units (ECUs) installed in vehicles, will provide a favourable business environment.
By Voltage, Growing consumer electronics demand, fuelled by high urban population growth and continually lowering prices, will propel the low voltage market forward. Furthermore, increased disposable income has resulted from world economic growth. Furthermore, as consumer income has risen, so has demand for autos and consumer electronics, propelling the whole sector forward.
The high voltage segment will grow as a result of the growing focus on reducing power system losses and providing an efficient and continuous power supply. In addition, utilities' increased focus on avoiding overload scenarios, boosting power flow across parallel lines, and strengthening system stability will help them gain traction.
By End Use, Electric capacitor market from consumer electronics will witness growth on account of rise in the demand for smartphones, digital camcorders, and laptops along with their short replacement cycles. Advent of new technologies including 4K & OLED televisions with diversifying electronic content & functionality necessitates the need for increased energy density, capacitance & bandwidth, thus stimulating the product adoption.
Grid integration of renewable energy sources coupled with enhanced efforts to improve the efficiency, resiliency and quality of electrical systems will drive the market growth. In addition, gradual up gradation & replacement of the ageing grid infrastructure coupled with the ability of these systems to allow reliable & flexible power transmission through power factor improvement will propel the market growth.
Middle East and Africa Electric Capacitor Market Key Players Insights:
The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.
The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the europemarket, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.
The objective of the report is to present a comprehensive analysis of the Middle East and Africa Electric Capacitor market to the stakeholders in the industry. The report provides trends that are most dominant in the Middle East and Africa Electric Capacitor market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Middle East and Africa Electric Capacitor Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Middle East and Africa Electric Capacitor market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Middle East and Africa Electric Capacitor market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Middle East and Africa Electric Capacitor market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Middle East and Africa Electric Capacitor market. The report also analyses if the Middle East and Africa Electric Capacitor market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Middle East and Africa Electric Capacitor market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East and Africa Electric Capacitor market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East and Africa Electric Capacitor market is aided by legal factors.
Middle East and Africa Electric Capacitor Market Scope
Market Size in 2022
USD 901.75 Mn.
Market Size in 2029
USD 1194.65 Mn.
By End Use
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe
Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC
Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa
South America – Brazil, Argentina, Rest of South America
Middle East and Africa Electric Capacitor Market Key Players:
- AVX Corporation (South Carolina, United States)
- TDK Corporation (Tokyo, Japan)
- Yageo Corporation (Taiwan)
- Nichicon Corporation (Kyoto, Japan)
- Samsung Electro-Mechanics (South Korea)
- Avnet Inc (Arizona, United States)
Frequently Asked Questions
The segments covered in the Middle East and Africa Electric Capacitor Market report are based on Material, Voltage, and End Use.
The market size of the Middle East and Africa Electric Capacitor Market by 2029 is expected to reach USD 1194.65 Million.
The forecast period for the Middle East and Africa Electric Capacitor Market is 2023-2029.
The market size of the Middle East and Africa Electric Capacitor Market in 2022 was valued at USD 901.75 Million.
- Scope of the Report
- Research Methodology
- Research Process
- Middle East and Africa Electric Capacitor Market: Target Audience
- Middle East and Africa Electric Capacitor Market: Primary Research (As per Client Requirement)
- Middle East and Africa Electric Capacitor Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Stellar Competition matrix
- Middle East & Africa Stellar Competition Matrix
- Key Players Benchmarking: - by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- Stellar Competition matrix
- Middle East and Africa Electric Capacitor Market Segmentation
- Middle East and Africa Electric Capacitor Market, by Material (2022-2029)
- Middle East and Africa Electric Capacitor Market, by Voltage (2022-2029)
- Middle East and Africa Electric Capacitor Market, by End Use (2022-2029)
- Consumer Electronics,
- Communication & Technology
- Transmission & Distribution
- Middle East and Africa Electric Capacitor Market, by Country (2022-2029)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Middle East and Africa Electric Capacitor Market, by Material (2022-2029)
- Company Profiles
- Key Players
- AVX Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- TDK Corporation
- Yageo Corporation
- Nichicon Corporation
- Samsung Electro-Mechanics
- Avnet Inc.
- AVX Corporation
- Key Players
- Key Findings