Electric Capacitor Market
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The global electric capacitor market was valued at USD 21.3 billion in 2024 and is estimated to grow at a CAGR of 7.4% from 2025 to 2034. The electric capacitor industry has experienced significant development over the past years, establishing the base for multipurpose applications in electronics and electrical. Its wide acceptance and significant capability in the storage of electrical energy are the principal reasons for the steadily increasing product demand.
The use of modern microprocessors on increasingly capable and integrated devices intensifies the need for higher capacitance. This has resulted in an increased rate of growth in the demand for capacitors in new economies which are industrializing and technologically adopting at an advanced pace.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Electric Capacitor Market size in 2024: | USD 21.3 Billion |
| Forecast Period: | 2025 - 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.4 |
| 2023 Value Projection: | USD 42.6 Billion |
| Historical Data for: | 2021 - 2024 |
| No of Pages: | 120 |
| Tables, Charts & Figures: | 35 |
| Segments Covered: | Material, polarization, voltage, end use, and region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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There is a positive expectation for the industry as the electronic components market is supported by large spending on consumer electronics business, auto industry, and the increasing number of manufacturing plants. Recently, the use of ECU in vehicles has been raising rapidly due to the automotive industry’s transition towards electric cars.
The capacitor in these devices is lightweight, smaller than traditional types, and structurally strong enough to withstand vibration, extremes of temperature, and high currents and voltages. In addition, the product has low resistance to performance, ensure less temperature rise, and improve reliability. Additionally, various sectors such as automotive, telecommunications, industrial manufacturing, renewable energy, and consumer electronics are increasing the demand for electric capacitors, thereby augmenting the market outlook.
These industries incorporate capacitors within various areas including energy storage, compensation of the power factor, cancellation of noise among other key operations. There's been an escalation of demand especially on smaller dimensions with high value of capacitance in capacitors especially in portable electronic goods and automotive sectors.
In keeping up with market trends, development of higher capacitive values from capacitors' producers with shorter length in one direction have experienced market growth over the years. Further, rapid and continuous technological advancements are creating innovative types of capacitors, including multilayer ceramic capacitors (MLCCs), solid-state capacitors, and polymer electrolytic capacitors, which are driving the industry further.
The ceramic electric capacitor segment will be more than USD 19 billion by 2034. Ceramic capacitors are preferred for their reliability, compact size, and cost-effectiveness, making them suitable for high-frequency and high-temperature applications. The rapid miniaturization of electronic devices along with an increased demand for components that support high-density circuitry has contributed to the acceptance of multilayer ceramic capacitors. Innovations in dielectric materials and manufacturing processes are seen by manufacturers to produce capacitors of higher capacitance in a more compact form factor to support modern electronic application needs.
The electric capacitor market from transmission & distribution segment will grow at a CAGR of more than 6.2% by 2034. Capacitors are playing a critical role in improving power quality, enhancing grid stability, and supporting efficient energy transmission over long distances. As utilities expand their transmission networks to accommodate increasing electricity demand and integrate intermittent renewable energy sources, the need for high-voltage capacitors is on the rise.
Advances in new capacitor technologies are further propelling the market as more people employ shunt and series capacitors. New advancements in smart grid and FACTS operations are also triggering an increased trend for capacitors capable of supporting the dynamic operations in the grid.
The U.S. electric capacitor market is forecasted to rise above USD 6 billion by 2034. The electrical capacitor industry within the country has seen a growth surge due to its ongoing modernization of electrical transmission and distribution systems. Increased demand for smart grid technologies that have been implemented in order to optimize energy efficiency as well as bring renewable energy resources into the main grid has stimulated the use of capacitors. Expansion in renewable energy projects and the necessity to retrofit and replace old infrastructure further supports the growth of markets.
Asia Pacific electric capacitor market is growing significantly due to rapid industrialization, urbanization, and growing adoption of renewable energy in the region. China, India, and Japan are driving the market forward with expanding energy infrastructure, increased demand for consumer electronics, and growing production of electric vehicles. The push for grid modernization in the region, accompanied by substantial investment in transmission and distribution networks, has further sped up the uptake of capacitors for power quality improvement and energy efficiency.
Current players in the electric capacitor industry, such as ABB, Kemet, Panasonic, and TDK, are focusing on high-performance capacitors with higher capacitive value to meet the growing demands of businesses around the world. For example, in September 2024, TDK reported developing its new series of MLCCs for automotive and industrial applications that provide high reliability.
Advanced features in these capacitors include better capacitance and stability, therefore ideal for future electric vehicle systems and energy-saving industrial equipment. These manufacturers emphasize technological advancements as the basis of modern production, thus utilizing cutting-edge materials, creative designs, and state-of-the-art manufacturing technologies to create more efficient, rugged, and reliable capacitors.
Major players operating in the electric capacitor industry are:
Market, By Material
Market, By Polarization
Market, By Voltage
Market, By End Use
The above information has been provided for the following regions and countries:
Major players in the industry include ABB, Cornell Dubilier, Elna, Havells India, Kemet, Kyocera AVX Components, Murata Manufacturing, Panasonic, Samsung Electro-Mechanics, Schneider Electric, Siemens, Taiyo Yuden, TDK, and Vishay Intertechnology.
The global market size for electric capacitor was valued at USD 21.3 billion in 2024 and is expected to reach USD 42.6 billion by 2034, driven by a CAGR of 7.4% from 2025 to 2034.
The electric capacitor industry from transmission & distribution end-use market is expected to grow at a CAGR of over 6.2% by 2034, driven by the need for capacitors that enhance power quality and grid stability.
The U.S. market is set to reach over USD 6 billion by 2034, driven by the modernization of electrical transmission and distribution systems and the adoption of smart grid technologies.