Series Capacitor Market - Regional Analysis
North American Market Insights
North America industry is predicted to account for largest revenue share of 34% by 2035. 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 Insights
Series capacitor market in the Asia Pacific region is poised to hold a share of 27% by the end of 2035. 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.
