Global Low Voltage Electric Capacitor Market Overview
The Low Voltage Electric Capacitor Market Size was estimated at 26.94 (USD Billion) in 2022.The Low Voltage Electric Capacitor Industry is expected to grow from 27.92(USD Billion) in 2023 to 38.5 (USD Billion) by 2032. The Low Voltage Electric Capacitor Market CAGR (growth rate) is expected to be around 3.64% during the forecast period (2024 - 2032).
Key Low Voltage Electric Capacitor Market Trends Highlighted
The market for low voltage electric capacitors is expected to witness significant growth in the coming years. The increasing demand for energy-efficient devices, the proliferation of renewable energy sources, and the growing adoption of electric vehicles are key drivers of this market. Moreover, the expanding electronics industry is also contributing to the growth of this market.Opportunities in the low voltage electric capacitor market lie in the development of new materials and technologies that can improve the performance and efficiency of these components. Additionally, the growing focus on reducing carbon emissions and the increasing adoption of smart grids are creating new opportunities for this market.Recent trends in the low voltage electric capacitor market include the increasing adoption of ceramic capacitors, the development of film capacitors with higher capacitance and voltage ratings, and the growing popularity of electrolytic capacitors for use in power electronics applications.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low Voltage Electric Capacitor Market Drivers
Rising Demand for Energy-Efficient Electronics
The growing adoption of energy-efficient electronic devices, such as smartphones, laptops, and smart home appliances, is driving the demand for low voltage electric capacitors. These capacitors play a crucial role in energy storage and power management, enabling devices to operate efficiently and extend battery life. The increasing penetration of electronics in various industries, including consumer electronics, automotive, and healthcare, is expected to further fuel the growth of the Low Voltage Electric Capacitor Market Industry.
Expansion of Electric Vehicle Market
The burgeoning electric vehicle (EV) industry is creating a significant demand for low voltage electric capacitors. Capacitors are essential components in EV batteries, power electronics, and charging systems. The increasing adoption of EVs worldwide, driven by environmental concerns and government incentives, is anticipated to bolster the growth of the Low Voltage Electric Capacitor Market Industry.
Growth in Renewable Energy Sector
The expanding renewable energy sector is presenting growth opportunities for the Low Voltage Electric Capacitor Market Industry. Capacitors are widely used in solar photovoltaic systems, wind turbines, and energy storage systems to improve power quality, reduce harmonics, and enhance overall system efficiency. The increasing deployment of renewable energy sources to meet sustainability goals is expected to drive the demand for low voltage electric capacitors.
Low Voltage Electric Capacitor Market Segment Insights
Low Voltage Electric Capacitor Market Capacitor Type Insights
The Low Voltage Electric Capacitor Market is segmented by Capacitor Type into Ceramic Capacitors, Electrolytic Capacitors, Film Capacitors, and Supercapacitors. Ceramic Capacitors Ceramic capacitors are the most widely used type of capacitor, accounting for over 50% of the market in 2023. They are small, lightweight, and have a high capacitance-to-volume ratio. Ceramic capacitors are also relatively inexpensive to manufacture. However, they have a lower voltage rating than other types of capacitors and are not as stable over time. Electrolytic Capacitors Electrolytic capacitors are the second most widely used type of capacitor, accounting for around 30% of the market in 2023.They have a higher capacitance-to-volume ratio than ceramic capacitors and are also more stable over time. However, they are larger and heavier than ceramic capacitors and have a lower voltage rating. Film Capacitors Film capacitors are made from a thin film of dielectric material, such as plastic or paper, sandwiched between two metal plates. They have a high voltage rating and are very stable over time. However, they are also larger and heavier than ceramic or electrolytic capacitors. Supercapacitors are a relatively new type of capacitor that has a very high capacitance-to-volume ratio.They can store a large amount of energy and can be charged and discharged very quickly. The growth of the market is being driven by the increasing demand for low voltage capacitors in a variety of applications, including consumer electronics, automotive electronics, and industrial electronics.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low Voltage Electric Capacitor Market Voltage Rating Insights
The Low Voltage Electric Capacitor Market is segmented by voltage rating, with segments including Below 100V, 100V-400V, 400V-760V, and Above 760V. Among these, the 100V-400V segment held the largest market share in 2023, accounting for over 45% of the market revenue. This dominance is attributed to the widespread use of capacitors in this voltage range in various electronic devices, including power supplies, inverters, and motor drives. The Below 100V segment is expected to witness significant growth during the forecast period, driven by increasing demand for low-voltage capacitors in portable electronics and energy storage applications.The 400V-760V segment is projected to grow at a steady pace, driven by the growing adoption of electric vehicles and renewable energy systems. The Above 760V segment is expected to experience moderate growth, primarily catering to high-power industrial applications. Overall, the Low Voltage Electric Capacitor Market is expected to exhibit a steady growth trajectory, influenced by the increasing demand for capacitors in electronic devices, power systems, and energy storage applications.
Low Voltage Electric Capacitor Market Application Insights
The Low Voltage Electric Capacitor Market is segmented into various applications, including Industrial, Consumer Electronics, Automotive, Renewable Energy, and Medical. Among these segments, the Industrial segment is expected to hold a significant market share in 2023, with a valuation of around USD 10.2 billion. This dominance is attributed to the extensive use of low voltage electric capacitors in industrial machinery, power electronics, and automation systems. The Consumer Electronics segment is another major application area, driven by the increasing demand for electronic devices such as smartphones, laptops, and televisions.The growing popularity of electric vehicles is also propelling the demand for low voltage electric capacitors in the Automotive segment. Renewable Energy applications, particularly solar and wind power systems, are witnessing a surge in capacitor demand due to their ability to store and release energy efficiently. The Medical segment is also expected to contribute to market growth, as low voltage electric capacitors are vital components in medical devices such as pacemakers, defibrillators, and imaging systems.
Low Voltage Electric Capacitor Market Packaging Insights
The packaging segment of the Low Voltage Electric Capacitor Market is expected to witness significant growth in the coming years. Radial capacitors, with their cylindrical shape and through-hole mounting, are projected to hold a major share of the market. In 2024, the Low Voltage Electric Capacitor Market for radial capacitors is estimated to be valued at USD 4.2 billion, with a projected growth rate of 3.8% CAGR up to 2032. Axial capacitors, with their axial leads and polarized nature, are another important segment, accounting for a considerable market share.SMD (Surface Mount Device) capacitors, known for their compact size and surface mounting capabilities, are also gaining popularity, particularly in electronic devices due to miniaturization trends. Multilayer capacitors, offering high capacitance and voltage ratings in a compact form factor, are expected to contribute to the overall market growth in the coming years.
Low Voltage Electric Capacitor Market Regional Insights
The Low Voltage Electric Capacitor Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to the increasing adoption of electric vehicles and the growing demand for energy-efficient devices. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth in the coming years, due to the rising demand for consumer electronics and the increasing investments in infrastructure development.South America and MEA are expected to be the smallest markets, but they are expected to grow at a steady pace in the coming years. The market growth is primarily driven by the increasing demand for low voltage electric capacitors in various electronic devices, such as smartphones, laptops, and tablets. The growing adoption of electric vehicles and the increasing demand for energy-efficient devices are also contributing to the market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Low Voltage Electric Capacitor Market Key Players and Competitive Insights
Major players in the Low Voltage Electric Capacitor Market industry are constantly striving to gain a competitive edge by developing advanced technologies and expanding their product offerings. Leading Low Voltage Electric Capacitor Market players are focusing on strategic partnerships and acquisitions to enhance their market position and expand their geographical reach. The Low Voltage Electric Capacitor Market development is driven by factors such as the increasing demand for energy-efficient solutions, advancements in power electronics, and the proliferation of renewable energy sources. The Low Voltage Electric Capacitor Market Competitive Landscape is characterized by the presence of both established players and emerging competitors.A prominent competitor in the Low Voltage Electric Capacitor Market is Panasonic Corporation. Headquartered in Japan, Panasonic is a leader in the electronics industry, offering a wide range of products and solutions. In the Low Voltage Electric Capacitor Market, Panasonic focuses on providing high-quality capacitors with excellent performance and reliability. The company's capacitors are used in a variety of applications, including power supplies, electronic circuits, and automotive electronics. Panasonic's strong brand reputation and presence give it a competitive advantage in the market.Another key competitor in the Low Voltage Electric Capacitor Market is EPCOS AG. Headquartered in Germany, EPCOS is a leading manufacturer of electronic components, including capacitors. The company's capacitors are known for their high quality, reliability, and efficiency. EPCOS offers a wide range of capacitors designed for various applications, including industrial electronics, automotive electronics, and power supplies. EPCOS's strong technical expertise and distribution network enable it to compete effectively in the market.
Key Companies in the Low Voltage Electric Capacitor Market Include
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TDK
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WEG
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AVX
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ROHM
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Eaton
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Panasonic
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Taiyo Yuden
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Schneider Electric
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Kemet
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Vishay
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Murata
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Samsung ElectroMechanics
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Nichicon
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Cornell Dubilier
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Rubycon
Low Voltage Electric Capacitor Market Industry Developments
The Low Voltage Electric Capacitor Market is poised to witness significant growth in the coming years. Increasing demand for electronics, particularly in the automotive and industrial sectors, is driving market expansion. Technological advancements, such as the development of high-performance and miniaturized capacitors, are further propelling growth. Key players in the market include Panasonic, Kemet, TDK, and Vishay Intertechnology. Recent developments include the launch of new products, such as Panasonic's high-temperature and high-ripple current capacitors, and collaborations between manufacturers and research institutions to develop advanced capacitor technologies. The market is also witnessing growing adoption of low voltage electric capacitors in emerging applications, such as energy storage and power electronics.
Low Voltage Electric Capacitor Market Segmentation Insights
Low Voltage Electric Capacitor Market Capacitor Type Outlook
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Ceramic Capacitors
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Electrolytic Capacitors
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Film Capacitors
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Supercapacitors
Low Voltage Electric Capacitor Market Voltage Rating Outlook
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Below 100V
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100V-400V
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400V-760V
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Above 760V
Low Voltage Electric Capacitor Market Application Outlook
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Industrial
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Consumer Electronics
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Automotive
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Renewable Energy
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Medical
Low Voltage Electric Capacitor Market Packaging Outlook
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Radial
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Axial
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SMD
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Multilayer
Low Voltage Electric Capacitor Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
Low Voltage Electric Capacitor Market Report Scope
| Report Attribute/Metric |
Details |
| Market Size 2022 |
26.94(USD Billion) |
| Market Size 2023 |
27.92(USD Billion) |
| Market Size 2032 |
38.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.64% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
TDK, WEG, AVX, ROHM, Eaton, Panasonic ,Taiyo Yuden ,Schneider Electric ,Kemet ,Vishay ,Murata ,Samsung ElectroMechanics ,Nichicon ,Cornell Dubilier ,Rubycon |
| Segments Covered |
Capacitor Type, Voltage Rating, Application, Packaging, Regional |
| Key Market Opportunities |
Energy EfficiencyTechnological AdvancementsRising Demand for Renewable EnergyGrowing Industrial AutomationExpansion in Emerging Markets |
| Key Market Dynamics |
Rising demand for energy efficient devicesIncrease in electrification and urbanization Technological advancements in manufacturing processesGrowing adoption in consumer electronicsExpansion of the renewable energy sector |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Low Voltage Electric Capacitor Market is expected to reach a valuation of 27.92 USD Billion in 2023.
The Low Voltage Electric Capacitor Market is projected to grow at a CAGR of 3.64% from 2024 to 2032.
Asia-Pacific is expected to hold the largest market share in the Low Voltage Electric Capacitor Market by 2032.
Low Voltage Electric Capacitors find applications in various industries, including power factor correction, motor starting, and electronic circuits.
Major competitors in the Low Voltage Electric Capacitor Market include Panasonic, TDK, Nichicon, and KEMET.
Growth drivers of the Low Voltage Electric Capacitor Market include increasing demand for energy efficiency and the growing adoption of electronics.
Challenges faced by the Low Voltage Electric Capacitor Market include fluctuating raw material prices and intense competition.
The Low Voltage Electric Capacitor Market is expected to reach a valuation of 38.5 USD Billion by 2032.
The COVID-19 pandemic had a moderate impact on the Low Voltage Electric Capacitor Market, leading to supply chain disruptions and reduced demand from certain industries.
Emerging trends in the Low Voltage Electric Capacitor Market include the adoption of advanced materials and the development of miniaturized capacitors.
