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Electric Capacitor Market Trends

Report ID: GMI3824
Published Date: May 2023
Report Format: PDF

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Electric Capacitor Market Trends

The demand for electric capacitors was being driven by various industries, including automotive, consumer electronics, telecommunications, industrial manufacturing, and renewable energy. These sectors were utilizing capacitors for energy storage, power factor correction, noise suppression, and other applications. Increasing adoption for miniaturization and higher capacitance products has witnessed a growing need for smaller and more efficient capacitors, especially in portable electronic devices and automotive application. As a result, manufacturers are focusing on developing capacitors with higher capacitance values in smaller form factors to meet these requirements, which in turn is boosting the electric capacitors market growth.

Continuous & exponential technological advancement is leading to the development of innovative capacitor designs, such as multilayer ceramic capacitors (MLCCs), solid-state capacitors, and polymer electrolytic capacitors. These advancements were aimed at improving performance, reliability, and energy storage capabilities. In addition, the increasing adoption of renewable energy sources, such as wind and solar, is driving the demand for electric capacitors. Capacitors are used in renewable energy systems for power conversion, energy storage, and grid stabilization, thereby channeling growth to the market on a positive note.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of electric capacitor was worth over USD 20.6 billion in 2023 and will progress at more than 7.1% CAGR between 2024 and 2032, propelled by the enhanced complexity, functionality, and convergence of devices that utilize state-of-the-art microprocessors.

electric capacitor market is likely to surpass a mammoth of $25 billion by the end of 2025.

The consumer electronic end-use segment will amass notable revenues by 2032, owing to the growing utilization of these products in large volumes to provide on-demand energy, noise filtering, decoupling of signals, and increased operational frequency.

North America market is slated to witness considerable growth over 2023-2032, as a result of the increasing adoption of smart grids to encourage energy conservation and integration of renewable energy in the region.