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LONDON, GREATER LONDON, UNITED KINGDOM, November 29, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The global electrolytic capacitor market has seen robust growth in recent years and is slated to further elevate from $7.33 billion in 2023 to $7.71 billion in 2024, with an impressive compound annual growth rate CAGR of 5.1%. The products are used in electronic devices, serving the increasing energy storage and power supply needs of various industries and applications. The significant growth during the historical period can be linked to the electronics industry boom, abundant capacitor demand in electronic appliances, increase in energy storage and power supply requirements, growth in industrial and automotive applications, and the trend towards miniaturization of electronics.
So, What’s Expected for the Electrolytic Capacitor Market Size in 2024 and Beyond?
The electrolytic capacitor market size is forecasted to demonstrate potent expansion in the forthcoming years. The market value is expected to burgeon to $9.5 billion in 2028 with a compound annual growth rate CAGR of 5.4%. Factors contributing to the projected market growth include the rapid expansion of 5G technology, the growth of the electric vehicle EV market, the emerging market of electronics adoption, the increasing shift towards renewable energy integration, and the global market expansion.
Emerging trends during this forecasted period indicate the integration of capacitors in power electronics, technological advancements in capacitor design, the development of eco-friendly capacitors, smaller capacitors for wearables and IoT, and an increase in strategic partnerships.
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What’s Driving the Growth of the Electrolytic Capacitor Market Forward?
The burgeoning demand for capacitors is projected to fuel the forward momentum of the electrolytic capacitor market. Capacitors, the electronic components with two terminals can store energy in the form of an electric charge. Their prevalent use in DC power supply circuits due to their high capacitance helps reduce voltage and voltage fluctuations.
In February 2022, the Global Trade magazine reported China and Hong Kong as the leading capacitor importing markets, with imports accounting for $8.8 billion, $5.4 billion, and Germany importing $2 billion worth of capacitors. Moreover, the Observatory of Economic Complexity had registered a 23.7% increase in electrical capacitors exports, from $28.4 billion to $35.1 billion in 2020-21. This rise in demand for capacitors is a driving force behind the vibrant growth of the electrolytic capacitor market.
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Who Are The Major Players In The Electrolytic Capacitor Market?
The major players operating in the electrolytic capacitor market include Nippon Chemi-Con Corporation, Nichicon Corporation, Nantong Jianghai Capacitor Co. Ltd., Rubycon Corporation, SamYoung Electronic Co. Ltd., TDK Electronics AG, Panasonic Corporation, Capxon Electronic Industrial Co. Ltd., Lelon Electronics Corp., Vishay Intertechnology Inc., KEMET Corporation, Man Yue Technology Holdings Limited, Samwha Capacitor Group, Alcon Electronics Pvt. Ltd., Hangzhou Aihua Instrument Limited Company, Jianghai Capacitor Co. Ltd., High Energy Corp., NIC Components Corp., Hitano Enterprise Corp., Taiwan Chinsan Electronics Industrial Co. Ltd., Illinois Capacitor Inc., Cornell Dubilier Electronics Co., Murata Manufacturing Co. Ltd., AVX Corporation, Würth Elektronik GmbH & Co., Elna Co. Ltd., ROHM Semiconductor Pvt. Ltd., Shanghai Yongming Electronic Co. Ltd., Exxelia Group
Emerging Trends in the Electrolytic Capacitor Market
Technological advancements are the cornerstone of the current trends in the electrolytic capacitor market. Companies are investing in developing new technological solutions to fortify their market standing. In October 2022, Nippon Chemi-Con Corporation launched the KHU/LHU series of snap-in type aluminum electrolytic capacitors. These capacitors offer smoother power supply input, contributing to the downsizing and longevity of shifting energy sources and general-purpose inverters.
How Is The Electrolytic Capacitor Market Segmented?
The electrolytic capacitor market surveyed in this report is split into the following segments:
1 By Type: Aluminum Electrolytic Capacitors, Tantalum Electrolytic Capacitors, Niobium Electrolytic Capacitors.
2 By End-Use Industry: Consumer Electronics, Industrial Electronics and Lighting, Computer and Telecommunications, Energy, Automotive, Aerospace and Defense
Where Does The Electrolytic Capacitor Market Stand Globally?
Asia-Pacific region accounted for the largest share in the electrolytic capacitor market in 2023. The regions covered in the electrolytic capacitor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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