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.
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.
The global capacitor market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing demand for capacitors in various applications, such as industrial, automotive electronics, consumer electronics, energy and others.
Competitive Market: The capacitor market is highly competitive, with numerous manufacturers worldwide, leading to price pressures and the need for innovation. Alternative Technologies: Advancements in alternative energy storage technologies, like batteries and supercapacitors, may pose competition to traditional capacitors in certain applications.
The market growth is attributed to the increasing demand for capacitors in various applications, such as industrial, automotive electronics, consumer electronics, energy and others. In terms of type, the ceramic capacitor segment is expected to hold the largest share of the global capacitor market during the forecast period.
The digital economy gives rise to complexities in electronic appliances including TVs, smartphones, security systems, refrigerators, and electrical vehicles. The trend of increasing functionalities has thrust the demand for better storage capabilities, influencing the electric capacitor market growth.