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Automotive MLCCs Market Size

Report ID: GMI12129
Published Date: Nov 2024
Report Format: PDF

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Automotive MLCCs Market Size

The global automotive MLCCs market size was valued at USD 2.9 billion in 2023 and is projected to grow at a CAGR of 5.6% between 2024 and 2032. The move to electric vehicles (EVs) is creating a huge demand for MLCCs in power electronics, battery management systems, and electrical infrastructure. Modern EVs need more capacitors than traditional combustion vehicles, complex electronics require high-temperature capacitors.

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For instance, according to the International Energy Agency, In 2023, the market experienced a significant rise in Battery Electric Vehicles (BEVs) and Plug-in Hybrids (PHEVs), with 14.2 million units delivered, reflecting a 35% increase. Of these, 10 million were BEVs, and 4.2 million were PHEVs and Range Extender EVs (EREVs). This growth in EVs paralleled a 10.5% global recovery in the overall light vehicle market. Advanced battery management needs precise capacitor performance for energy monitoring, power conversion, and thermal management. As global automotive companies commit to electrification strategies this is going to create a big opportunity for MLCC manufacturers who specialize in automotive-grade components with higher reliability and performance.

Automotive MLCCs Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive MLCCs Market Size in 2023:	USD 2.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.6%
2032 Value Projection:	USD 4.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	MLCC, vehicle, propulsion, voltage, application
Growth Drivers:	Growing vehicle electrification Increasing vehicle connectivity requirements Growth in vehicle power electronics Advancements in electrical component manufacturing technologies
Pitfalls & Challenges:	Electromagnetic compatibility issues Supply chain complexity

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Automotive power electronics is changing and expanding the market. Inverters, converters, and power management systems now require high-performance capacitors that can withstand extreme temperatures and electrical stress. The introduction of wide bandgap semiconductors like silicon carbide and gallium nitride is creating new capacitor applications with higher voltage and power density. These technologies need capacitors with better thermal stability, lower equivalent series resistance, and compact design. The evolution of power electronics in electric and hybrid vehicles is a big opportunity for advanced MLCC technologies.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive MLCCs reached USD 2.9 billion in 2023 and is set to grow at a 5.6% CAGR from 2024 to 2032, driven by the shift towards electric vehicles (EVs).

In 2023, the general-purpose segment accounted for over 35% of the automotive MLCCs market share and is expected to exceed USD 1.5 billion by 2032, led by the need for capacitors that operate across wide voltage ranges.

By 2032, the less than 50V segment is expected to exceed USD 2.6 billion, propelled by the integration of MLCCs with higher reliability for critical electronic systems in vehicles.

The Chinese market accounted for 51% of the revenue share in 2023, due to the significant investments in domestic production and technological advancements.

The key players in the industry include Kyocera, Murata, NIC Components, Nippon Chemi-Con, Rohm Semiconductors, Samsung Electro-Mechanics, Taiyo Yuden, TDK Corporation, Vishay Intertechnology, and Yageo Corporation.