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Multilayer Ceramic Capacitor Market Set to Surge: Unveiling Key Growth Drivers and Future Trends
Multilayer Ceramic Capacitor Market
Multilayer Ceramic Capacitor Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The multilayer ceramic capacitor market size has grown strongly in recent years. It will grow from $10.36 billion in 2023 to $11.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to electronics demand, miniaturization in electronics, advancements in consumer electronics, industrial automation, renewable energy adoption, medical device advancements.
The multilayer ceramic capacitor market size is expected to see strong growth in the next few years. It will grow to $15.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to electronics market growth, automotive electrification, rise in iot devices, growing consumer electronics demand. Major trends in the forecast period include global economic trends, market competition, supply chain dynamics, environmental regulations, advancements in aerospace electronics.
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Multilayer Ceramic Capacitor Market Major Segments
The multilayer ceramic capacitor market covered in this report is segmented -
1) By Equipment Type: Class 1, Class 2
2) By Rated Voltage Range: Low Range (Up To 50V), Mid Range (100V To 630V), High Range (1000V And Above)
3) By Application: Consumer Electronics, Automotive, Manufacturing, Healthcare, Other Applications
Key Driver - Surge In Electric Vehicle Adoption Ignites Growth In The Multilayer Ceramic Capacitors Market
Growing demand from the automotive industry due to the advent of electric vehicles (EVs) is expected to propel the growth of the multilayer ceramic capacitors market going forward. Electric vehicles are vehicles that consist of a motor that is powered through electricity stored in batteries. It operates on electric motors and charges its batteries with electricity rather than utilizing fossil fuels like gasoline or diesel. The production and sale of EVs increase, there will be a huge demand created for multilayer ceramic capacitors as they are an integral part of EVs due to essential functions and small-value capacitances. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the growing demand from the automotive industry due to the advent of EVs will fuel the growth of the multilayer ceramic capacitors market.
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Prominent Trend - Advancing The Multilayer Ceramic Capacitor Market With Cutting-Edge Technologies
Technological advancement is a key trend gaining popularity in the multilayer ceramic capacitor market. Major companies operating in the market are incorporating innovative technologies in the manufacture of multilayer ceramic capacitors, such as MLCCs using recyclable polyethylene terephthalate (PET), miniaturization of MLCCs, high-temperature MLCCs, and others to sustain their position in the market. For instance, in January 2022, TDK Corporation, a Japan-based manufacturer of electronic components, developed a recycling technology that successfully repurposes PET films used in the production of multilayer ceramic capacitors (MLCCs). The surfaces of PET films left over from the MLCC production process are often specifically processed, otherwise making it impossible to reuse them without additional processing.
Multilayer Ceramic Capacitor Market Players
Major companies operating in the multilayer ceramic capacitor market report are Murata Manufacturing Co. Ltd., Samsung Electro-Mechanics Co. Ltd., Taiyo Yuden Co. Ltd., Yageo Group, Walsin Technology Corporation, Kyocera Corporation, TDK Corporation, Vishay Intertechnology Inc., Samwha Capacitor Co. Ltd., Nippon Chemi-Con Corporation, Darfon Electronics Corp., MARUWA Co. Ltd., Johanson Dielectrics Inc., Knowles Corp., API Technologies Corp., AVX Corporation, Ceramic Substrates & Components Ltd., Chaozhou Three-Circle (Group) Co. Ltd., Chilisin Electronics Corp., Dearborn Electronics Pvt. Ltd., Delta Electronics Inc., Exxelia Alcon Electronics Pvt Ltd., Faratronic Co. Ltd., Holy Stone Enterprise Co. Ltd., KEMET Corporation, KOA Corporation, NIC Components Corp., Novacap Investments Inc., Presidio Components Inc., RFMW Ltd.
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the multilayer ceramic capacitor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multilayer ceramic capacitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Multilayer Ceramic Capacitor Market Report Structure
3. Multilayer Ceramic Capacitor Market Trends And Strategies
4. Multilayer Ceramic Capacitor Market - Macro Economic Scenario
5. Multilayer Ceramic Capacitor Market Size And Growth
…..
27. Multilayer Ceramic Capacitor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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