India Electrical Capacitor Market to Grow at 3.6% Until 2019 Says TechSci Research
Burnaby, Canada, August 23, 2014 --(PR.com
)-- A capacitor is a key passive electrical component used to store energy in electrical and electronic equipment or devices. In India, the demand for electrical capacitors is expected to increase primarily due to rising demand for consumer durables, IT hardware coupled with use of electrical circuitry in diverse applications. Various types of capacitors that are available in the market include electrolytic, ceramic, film, solid double layer, carbon, dielectric and paper & plastic. Despite significant demand for capacitors, India lags behind in capacitor manufacturing due to lack of manufacturing base for the same. Although India majorly relies on imports of numerous electronics products, equipment and components from other countries, primarily China, Japan and Taiwan, the country’s Electronic System Design & Manufacturing (ESDM) market has witnessed a significant transformation over the past few years. In addition, the government’s support of allowing 100% FDI in the electronics hardware manufacturing sector has provided an automatic route for increasing electronic component manufacturing, including electrical capacitors in the country.
According to a recently published report by TechSci Research “India Electrical Capacitor Market Forecast & Opportunities, 2019,” the country’s electrical capacitor market is projected to grow at a CAGR of around 3.6% during 2014-19. India has grown multi folds in terms of electrical & electronic product manufacturing, and the revenue growth in these industries is the key driver for electrical capacitors market in the country, especially in southern and northern regions. Domestic companies engaged in manufacturing capacitors in India include Deki Electronics Pvt. Ltd., Desai Electronics Pvt. Ltd. and Filcon Electronics Pvt. Ltd. These players have a strong pan-India distribution network and also export their products to other countries. However, these players are facing intense competition from low-cost imports from countries like China.
“Consumer Durables and IT Hardware are the major application areas for electrical capacitors and anticipated growth in these industries is expected to drive the electrical capacitor market in India over the next five years. The growing trend for adoption of polymer as well as hybrid capacitors is also expected to continue propelling market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Electrical Capacitor Market Forecast & Opportunities, 2019” has analyzed the potential of electrical capacitor market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.