Taiwan Electric Capacitor Market - Forecasts from 2022 to 2027

The Taiwan electric capacitor market is estimated to be valued at US$479.681 million in 2020. The electric capacitor is a device used to store potential energy in the form of an electric charge. The device owing to its power conditioning, storage, and distribution ability has high applicability in consumer electronics, automotive, communication & technology, and energy & power sector. In a country like Taiwan, such sectors are experiencing significant growth owing to the various project announcements. For instance, according to Taiwan’s Minister of Economic Affair’s statement, in 2021, the country will add a solar power generation capacity of 2.5 gigawatts in 2022 which will be the most installation made in a single year by Taiwan. Such project announcements will optimize the use of electric capacitors in the energy & power sector for energy storage, thereby boosting the market growth.

Based on type, the Taiwan electric capacitor market is segmented as ceramic, paper & film, electrolytic, aluminum, and others. The ceramic type is expected to grow at a relatively higher rate during the forecast period of the Taiwan electric capacitor market. The ceramic capacitor uses dielectric materials and is non-polarized owing to which it is used in printed circuit boards, Dc motors of automotive, and transmitter stations. Such electric capacitor in comparison to other capacitor types is lightweight, inexpensive, and can withstand high voltage owing to which it provides reliable performance. With such high-performance features of ceramic capacitors coupled with rapid developments in major sectors of Taiwan such as Automotive, and communication & technology, the demand for such an electric capacitor is projected to increase in the future thereby, boosting the Taiwan electric capacitor market growth the forecast period.

The bolstering growth of the automotive sector is expected to create a surge in the Taiwan electric capacitor market. Taiwan is experiencing a rapid increase in the consumption as well as production scale of durable consumer goods such as automotive owing to the rapid increase in urban population, improvement in living standards coupled with technological adoption in automotive manufacturing, all of which have boosted the growth of the automotive sector in the country. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, total automotive production in Taiwan stood at 256,320 units which showed an increase of 8% in comparison to 2020’s production level. Furthermore, as per the same source, the sales of new light commercial vehicles in Taiwan stood at 40,000 units which represented an increase of 13% in comparison to 2020’s sales volume. The electric capacitor is used in automotive brakes, power steering, and airbag applications, and with such bolstering growth of the automotive sector in Taiwan, the demand for the electric capacitor in the country’s automotive sector is expected to increase, thereby boosting the Taiwan electric capacitor market during the forecast period.

Covid-19 Impact on the Taiwan Electric Capacitor Market

The lockdown restrictions imposed by Taiwan’s government to prevent the widespread COVID pandemic affected the activities of various industrial sectors such as automotive. The shutting down of automotive plants and factories decreased the overall production scale. For instance, according to the data provided by the International Organization of Motor Vehicles Manufacturers, in 2020, automotive production in Taiwan stood at 245,615 units which showed a decrease of 2.3% in production scale. Electric capacitors such as aluminum electrolytic capacitors are used in automotive control systems, such as power steering, brake system, and airbags. With the decrease in automotive production, the demand and usage of electric capacitors also decreased in Taiwan, which negatively impacted the Taiwan electric capacitor market.

Market Segmentation:

By Type

• Ceramic
• Paper & Film
• Electrolytic
• Aluminum
• Others

By Polarity

• Polarized
• Non-Polarized

By Voltage Type

• Low
• Medium
• High

By Application

• Power Conditioning
• Energy Storage
• Noise Filtering
• Coupling & Decoupling
• Signal Processing
• Others

By Industry Vertical

• Automotive
• Consumer Electronics
• Communication & Technology
• Energy & Power
• Others