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High Voltage Electric Capacitor Market Size, By Material (Film, Ceramic, Electrolytic), By End-Use (Consumer Electronics, Automotive, Communication & Technology, Transmission & Distribution) & Global Forecast, 2023 - 2032

  • Report ID: GMI7315
  • Published Date: Nov 2023
  • Report Format: PDF

High Voltage Electric Capacitor Market Size

High Voltage Electric Capacitor Market size was valued over USD 3.8 billion in 2022 and is set to grow at a rate of over 4.5% by 2032. The electric capacitor industry has experienced notable progress and has firmly established itself in a diverse array of electronic and electrical applications. Its adaptability across various uses and its effectiveness in storing electrical energy have played a key role in its extensive adoption. As devices continue to evolve, incorporating advanced microprocessors that enhance their complexity, functionality, and integration, the need for capacitors with higher capacitance has surged significantly.
 

High Voltage Electric Capacitor Market

The electronic components industry is poised for positive growth, primarily attributed to investments in transmission & distribution, consumer electronics, automotive manufacturing, and related sectors. Notably, the increasing prevalence of electronic control units (ECUs) in vehicles, driven by the trend towards vehicle electrification, has made a significant impact. Capacitors are in great demand for these applications because they need to meet specific criteria, such as being lightweight, compact, capable of withstanding vibration, temperature variations, high currents, and high voltage, all while maintaining low resistance to optimize temperature control. To meet these demands, automakers are increasingly turning to design and simulation technologies to develop suitable capacitor products.

 

The utilization of capacitors in the power sector is steadily gaining traction, largely due to heightened investments in power grids prompted by the growing worldwide need for electricity. Power capacitors are instrumental in improving the quality, efficiency, and overall effectiveness of electrical systems, while simultaneously reducing power losses. As a result, they contribute positively to minimizing environmental impact. The digital economy has introduced a level of complexity to electronic appliances, ranging from TVs and smartphones to security systems, refrigerators, and electric vehicles. The increasing emphasis on enhancing the functionalities of these devices has substantially heightened the need for improved storage capabilities.
 

COVID- 19 Impact

The COVID- 19 outbreak has impacted the overall high voltage electric capacitor market along with other end use industries. Supply chain disruptions decreased product demand in certain sectors, along with price fluctuation were the major impact caused due to the pandemic. However, the economies gradually recovered from the pandemic, the electrical capacitor market is expected to regain momentum. The resumption of manufacturing activities, easing of supply chain constraints, and increased demand for electronic devices.
 

High Voltage Electric Capacitor Market Trends

The demand for electric capacitors has been spurred by a variety of industries, including automotive, consumer electronics, telecommunications, industrial manufacturing, and renewable energy. These sectors have incorporated capacitors for a wide range of purposes, such as energy storage, power factor correction, and noise suppression. The increasing trend toward miniaturization and the necessity for capacitors with higher capacitance values have led to a growing need for smaller and more efficient capacitors, particularly in portable electronic devices and automotive applications.
 

The ongoing and rapid progress of technology is propelling the development of innovative capacitor designs, including multilayer ceramic capacitors (MLCCs), solid-state capacitors, and polymer electrolytic capacitors. These advancements are predominantly aimed at improving performance, reliability, and energy storage capacities. Furthermore, the expanding adoption of renewable energy sources such as wind and solar power is driving the increasing need for electric capacitors. Capacitors play a critical role in renewable energy systems, facilitating functions like power conversion, energy storage, and grid stabilization.
 

High Voltage Electric Capacitor Market Analysis

High Voltage Electric Capacitor Market, By Material, 2021 - 2032, (USD Billion)

Based on material, the market is segmented as film capacitors, ceramic capacitors, & electrolytic capacitors. The low voltage electric capacitor market, particularly film capacitors or film dielectric capacitors, is projected to experience a substantial progression rate of approximately 4.4% by 2032 attributed to their several advantages, including higher stability, lower inductance, and cost-effectiveness. These capacitors offer a broad capacitance range, typically ranging from 1nF to 30µF, and are known for their extended service life and high reliability. They have gained significant popularity, primarily due to their suitability for applications where high temperatures and frequency stability are crucial factors.
 

  • Film capacitors are actively exploring opportunities in the expanding eco-friendly market, especially within the power and automotive sectors.
     
  • Their increased adoption in Electric Vehicles (EVs), Hybrid Electric Vehicles (HEVs), and renewable energy systems such as wind and solar power is driven by their slower aging and low average failure rate. This makes them a preferred choice over other capacitor types in the years to come.
     
  • Film capacitor suppliers are prioritizing the development of high-temperature and superior electrical characteristics to expand their presence in both emerging and established applications.
     
  • Their ability to maintain stable performance in demanding automotive environments with high power, temperature, and vibrations is expected to create a favorable business environment.
     
 High Voltage Electric Capacitor Market Revenue Share, By End Use, 2022

Based on end use, the high voltage electric capacitor market is segmented as consumer electronics, automotive, communications & technology, transmission & distribution. The consumer electronics sector is witnessing a significant upsurge in the demand for electric capacitors, with a projected expansion rate exceeding 5.2% by 2032 propelled by the increasing requirements within the smartphone, portable computing, and automotive industries. The growing complexity and enhanced functionality of electronic devices, along with their widespread application for tasks such as on-demand energy supply, noise filtering, signal decoupling, and operation at higher frequencies, have prompted industry stakeholders to enhance and fine-tune their product offerings.
 

  • The automotive industry's quest for improved fuel efficiency, enhanced safety, superior driving performance, and increased convenience has led to a growing dependence on electronic assemblies and modules.
     
  • This reliance includes components such as capacitors, and their utilization is expected to increase as automakers increasingly turn to advanced propulsion technologies to comply with stringent emission regulations.
     
  • Automotive-grade capacitors are being widely embraced across various automotive systems, encompassing accessory, engine control, safety, wiper control circuits, lighting, vehicle navigation, speech recognition, and body control structures, thereby creating a favorable business environment.
     
  • Furthermore, the expanding trend of electrification in commercial vehicles, coupled with a focus on fuel economy standards and incentives for low or zero-emission vehicles.
     
Asia Pacific High Voltage Electric Capacitor Market, 2021 - 2032 (USD Billion)

The Asia Pacific region will grow at a CAGR of over 5.5% through 2032. The region currently holds a significant high voltage electric capacitor market share, primarily driven by its robust manufacturing capabilities in the consumer electronics and automotive industries. The shift in population from the lower-middle class to the higher-middle class in major economies such as China, India, Japan, and South Korea is fueling increased consumer spending. This shift has led to changing consumption patterns, with a stronger emphasis on discretionary spending, particularly in the consumer electronics sector., which directly boosts the demand for capacitors.
 

  • Many countries in the region have enjoyed sustained periods of dynamic economic growth, resulting in an increasing consumer preference for electronic appliances.
     
  • The concerted efforts of governments across the Asia Pacific region to promote the production and adoption of electric vehicles are generating a growing demand for efficient energy storage devices, including capacitors.
     
  • The accelerated development of HVDC transmission technology and renewable energy sources like solar and wind, along with the development of electrical vehicle infrastructure,
     

High Voltage Electric Capacitor Market Share

Leading players in the market have consistently prioritized the development of capacitors that offer high quality and maximum capacitance. They have also focused on technical innovation, ensuring timely delivery, and maintaining competitive pricing as key strategies to secure and strengthen their competitive positions in the market. In addition, the industry is marked by both established global players and regional companies, where the competition is driving innovation and efficiency, benefiting customers in terms of better technology and competitive pricing across the end use segment:

  • Siemens
  • ABB
  • KEMET Corporation
  • Murata Manufacturing Co., Ltd.
  • Vishay Intertechnology, Inc.
  • KYOCERA AVX Components Corporation
  • Cornell Dubilier
  • Panasonic Corporation
  • TAIYO YUDEN CO., LTD.
  • SAMSUNG ELECTRO-MECHANICS
  • ELNA CO., LTD.
  • TDK Corporation
  • Schneider Electric
  • Havells India Ltd.
  • Xuansn Capacitor
  • WIMA GmbH & Co. KG

High Voltage Electric Capacitor Industry News

  • In April 2023, ABB launched electrical asset monitoring platform, CogniEN, for cognitive electrical networks used in renewable energy infrastructure, data centers, and EV charging applications. The platform is suited for cognitive electrical network utilizing data intelligence that allows operators to identify problems with the related electrical installation.
     
  • In February 2023, KEMET introduced a new series of electrical capacitors, AAR80 series, an AEC-Q200 aluminum rectangular capacitor, designed for automotive applications. The product offers good ripple current capability, high capacitance, and robust vibration resistance. The introduction of new product series is anticipated to increase the product adoption across automobile applications.
     

High Voltage Electric Capacitor market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Thousand Units & USD Million’ from 2019 to 2032, for the following segments:

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By Material, 2019 – 2032 (Thousand Units & USD Million)

  • Film capacitors
  • Ceramic capacitors
  • Electrolytic capacitors
  • Others

By End Use, 2019 – 2032 (Thousand Units & USD Million)

  • Consumer Electronics
  • Automotive
  • Communications & Technology
  • Transmission & Distribution
  • Others

The above information has been provided for the following region & countries:

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • UK
  • France
  • Germany
  • Italy
  • Austria

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia

Middle East & Africa

  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait

Latin America

  • Brazil
  • Argentina
  • Chile
Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

High voltage electric capacitor industry size exceeded USD 3.8 billion in 2022 and is poised to expand at over 4.5% growth rate from 2023-2032 driven by the rising demand from the electronic components sector.

High voltage electric capacitors market from the consumer electronics sector is projected to witness over 5.2% CAGR from 2023 to 2032 owing to the increasing application in the production of smartphones, portable computing, and automotives.

Asia Pacific market is estimated to witness over 5.5% CAGR from 2023 to 2032 driven by the robust manufacturing capabilities in the consumer electronics and automotive industries.

Some of the leading high voltage electric capacitor firms are Siemens, ABB, KEMET Corporation, Murata Manufacturing Co., Ltd., KYOCERA AVX Components Corporation, Cornell Dubilier, Panasonic Corporation, TDK Corporation, Schneider Electric, and Havells India Ltd., among others.

High Voltage Electric Capacitor Market Scope

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  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 502
  • Countries covered: 21
  • Pages: 380
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