Low Voltage Electric Capacitor Market Size – By Material, By End Use, Analysis, Share, Growth Forecast, 2025 – 2034

Low Voltage Electric Capacitor Market Size

The global low voltage electric capacitor market was valued at USD 9.2 billion in 2024 and is estimated to grow at a CAGR of 8.4% from 2025 to 2034, driven by advancements in industrial automation, renewable energy integration, and the rising demand for energy-efficient electrical systems. As industries increasingly adopt automation and smart grid technologies, the need for low voltage capacitors to enhance power factor correction and reduce energy losses has surged, thereby complementing the market growth.
 

The proliferation of renewable energy projects, particularly solar and wind power has amplified the market’s momentum as low voltage capacitors are vital for maintaining grid stability in fluctuating power supply scenarios. Moreover, rapid urbanization and the expansion of residential and commercial infrastructure in emerging economies are fueling demand for capacitors in HVAC systems, lighting solutions, and motor drives.
 

Low Voltage Electric Capacitor Market Trends

The market is witnessing a trend towards miniaturization and high-performance capacitors that can withstand extreme environmental conditions, driven by advancements in materials and manufacturing technologies. Governments globally are enforcing stringent energy efficiency regulations, prompting industries to replace legacy systems with modern capacitors, further boosting market prospects.
 

In addition, rising investments in electric vehicles (EVs) are fostering innovation in capacitor design to meet the demands of EV powertrains and charging infrastructure. The relentless pace of technological advancement is fueling the development of innovative capacitor designs such as multilayer ceramic capacitors (MLCCs), solid-state capacitors, and polymer electrolytic capacitors. These innovations prioritize improved performance, reliability, and energy storage efficiency.
 

Low Voltage Electric Capacitor Market Analysis

The ceramic low voltage electric capacitor industry will exceed USD 7.2 billion by 2034. Ceramic capacitors are widely used for their reliability, compact size, and cost-effectiveness. These attributes make them particularly suitable for high-frequency and high-temperature applications. The ongoing trend of electronic device miniaturization combined with the growing demand for components supporting high-density circuitry has increased the adoption of multilayer ceramic capacitors (MLCCs). To meet the evolving needs of modern electronic applications, manufacturers are concentrating on innovations in dielectric materials and manufacturing processes.
 

Based on end use, the consumer electronics segment will grow at a CAGR of over 8.2% through 2034. The consumer electronics sector is witnessing a significant rise in demand for electric capacitors fueled by increasing requirements in the smartphone, portable computing, and automotive industries. The growing complexity and functionality of electronic devices coupled with their widespread application in on-demand energy supply, noise filtering, signal decoupling, and higher operational frequencies have driven industry players to enhance and optimize their product portfolios.
 

U.S. low voltage electric capacitor market is set to reach over USD 3 billion by 2034, driven by increasing investments in renewable energy projects, energy-efficient infrastructure, and industrial automation. The rising adoption of smart grid technologies and the expansion of electric vehicle (EV) charging networks are key drivers as capacitors are essential for power factor correction and stable energy distribution. The market benefits from stringent energy efficiency regulations and growing demand across sectors such as manufacturing, HVAC systems, and consumer electronics. Additionally, advancements in capacitor technology including miniaturization and improved durability, are fostering innovation and creating opportunities for manufacturers to meet evolving industry needs.
 

The Asia Pacific low voltage electric capacitor market commands a leading market share and is poised for sustained growth, driven by its strong manufacturing base in the consumer electronics and automotive sectors. The transition of a significant portion of the population from lower-middle to upper-middle class in major economies such as China, India, Japan, and South Korea is boosting consumer spending. This economic shift is reshaping consumption patterns, with a heightened emphasis on discretionary spending, particularly in the consumer electronics segment, which directly accelerates the demand for capacitors.
 

Low Voltage Electric Capacitor Market Share

Prominent players in the low voltage electric capacitor industry, such as ABB, Kemet, Panasonic, and TDK, among others, remain focused on producing high-quality capacitors with superior capacitance capabilities to cater to the expanding needs of various applications. Manufacturers are prioritizing technical innovation, investing significantly in advanced materials, optimized designs, and cutting-edge manufacturing technologies to develop capacitors that offer exceptional efficiency, durability, and performance.
 

Low Voltage Electric Capacitor Market Companies

Major players operating in the low voltage electric capacitor industry are:

• ABB
• Cornell Dubilier
• Elna
• Havells India
• Kemet
• Kyocera AVX Components
• Murata Manufacturing
• Panasonic
• Samsung Electro-Mechanics
• Schneider Electric
• Siemens
• Taiyo Yuden
• TDK
• Vishay Intertechnology
• Wima
• Xuansn Capacitor
   

Low Voltage Electric Capacitor Industry News

• In October 2024, TDK Corporation introduced the xEVCap, a standardized and modular DC link capacitor for powertrain inverters. This component is designed for use in passenger cars, commercial vehicles, off-highway vehicles, and machinery tools. The xEVCap features customizable design options, allowing for tailored solutions to meet specific application needs. Its modular approach simplifies development processes, making it well-suited for large-scale production. The xEVCap effectively addresses the requirements of various automotive and industrial applications.
   
• In March 2024, KEMET introduced the T581 series, the first polymer tantalum surface-mount capacitors meeting military performance specifications. These capacitors provide a reliable solution for high-performance military applications, complying fully with MIL-PRF qualifications. The T581 series combines polymer tantalum technology's high volumetric efficiency with robust performance standards, making it suitable for applications requiring dependable, high-reliability components.
   

This low voltage electric capacitor market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) and revenue (USD Billion) from 2021 to 2034, for the following segments:

Market, By Material

• Film capacitors
• Ceramic capacitors
• Electrolytic capacitors
• Others

Market, By End Use

• Consumer electronics
• Automotive
• Communications & technology
• Transmission & Distribution
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Austria
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina
  • Chile