Series Capacitor Market Share

North American Market Forecast

North American Series Capacitor Market is poised to hold a share of 34% during the forecast period. The development of ultra-small case-size capacitor for portable electronic devices has accelerated growth in North America and led to a rise in the manufacturing of electric vehicles. For example, as fuel prices have risen, the use of electric vehicles has increased in many different countries and areas. Electric vehicles employ lithium-ion batteries that offer a hybrid charging mechanism in place of gasoline and diesel engines. Also, the need for improved power transmission efficiency is driving the adoption of series capacitor in the region. By compensating for reactive power and enhancing voltage stability, series capacitor help optimize power flow and reduce transmission losses.

APAC Market Statistics

Series capacitor market in the Asia Pacific region is poised to hold a share of 27% by the end of 2036. The growth can be attributed to the expansion of the automotive industry in the region. The growing popularity of EVs in the region is propelling the market growth. For instance, by 2028, it is projected that Asia's market for electric vehicles will have 9.30 million units sold. Also, the availability of raw materials and the strong presence of small-scale capacitor manufacturing companies in the region. Also, the growing use of capacitor in the automotive power, and utility sectors is propelling market growth in the region.