The demand for electric capacitors across the consumer electronics industry is gaining an appreciable market penetration owing to the escalating demand from smartphones, portable computing, and automotive industries.
The trend of increasing functionalities has thrust the demand for better storage capabilities, influencing the electric capacitor market growth. The utilization of capacitors in the power sector is witnessing momentum due to increasing investments toward power grids driven by growing global power demand.
The electric capacitor market size was valued at USD 20.6 billion in 2023 and is set to grow at 7.1% CAGR from 2024 to 2032, driven by the positive outlook toward electronic components, predominantly due to investments in consumer electronics, automotive, and other manufacturing facilities.
Capacitor lead times and demand declined sharply in July of 2022. Weakness was noted in MLCC, tantalum and plastic film, while aluminum electrolytic capacitors remained somewhat turbulent due to salient issues with materials supply, showing a clear correction in the global capacitor markets for July 2022 (see Figure 1).
Electric Capacitor Market size was valued at USD 20.6 billion in 2023 and is set to grow at 7.1% CAGR from 2024 to 2032. The electric capacitor industry in recent years has undergone various improvements and strengthened its roots across a spectrum of electronic & electrical applications.
North America electric capacitor market has witnessed an inclination in the product demand due to the ongoing modernization of electrical transmission & distribution systems. The increasing adoption of smart grids to encourage energy conservation and integration of renewable energy will stimulate the product deployment.