The Europe Hybrid Capacitor Market would witness market growth of 5.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 325.59 Hundred Units, showcasing a growth of 4.8% (2019-2022).
These capacitors offer a low equivalent series resistance (ESR) compared to other energy storage products, such as traditional electrolytic capacitors and batteries. Traditional electrolytic capacitors typically have higher ESR compared to these capacitors. This higher ESR can lead to energy losses and reduced efficiency, especially in high-frequency applications where low ESR is essential. In contrast, these capacitors utilize advanced materials and designs to achieve a lower ESR, making them more suitable for applications that require efficient energy storage and delivery.
The increasing importance of energy efficiency and sustainability has led to an increased need for these capacitors. In light of efforts to mitigate carbon emissions and shift towards sustainable energy sources, there is an increasing demand for energy storage technologies capable of effectively capturing and storing energy derived from wind and solar power. These capacitors, with their high efficiency and rapid charge-discharge capabilities, are well-suited to meet this need and are increasingly used in energy storage systems for residential, commercial, and industrial applications.
Several European nations have emerged as leaders in the EV sector, with countries like Norway, Sweden, and the Netherlands having some of the highest EV adoption rates in the world. According to the Electric City Bus Sales Overtake Diesel in Europe blog published in May 2023 by the International Council on Clean Transportation (ICCT), many significant cities and a few Member States want to introduce zero-emission buses in the upcoming years gradually. Therefore, the expansion of the electric vehicle sector in various European nations has increased demand for these capacitors.
The Germany market dominated the Europe Hybrid Capacitor Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,776.3 Thousands by 2030. The UK market is exhibiting a CAGR of 4.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6% during (2023 - 2030).
Free Valuable Insights: The Global Hybrid Capacitor Market will Hit USD 39.6 Million by 2030, at a CAGR of 5.4%
Based on Product, the market is segmented into Laminating Type, and Radial Type. Based on Application, the market is segmented into Power Generation, Transmission, Distribution, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product (Volume, Hundred Units, USD Million, 2019-2030)
By Application (Volume, Hundred Units, USD Million, 2019-2030)
By Country (Volume, Hundred Units, USD Million, 2019-2030)
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