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Electrolytic Capacitor Market Key Trends And Strategies For Expansion 2024-2033
Electrolytic Capacitor Market Key Trends
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According to The Business Research Company's, The electrolytic capacitor market size has grown strongly in recent years. It will grow from $7.33 billion in 2023 to $7.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to electronics industry growth, increased capacitor demand in electronic devices, increased energy storage and power supply needs, increased industrial and automotive applications, and miniaturization of electronics.
The electrolytic capacitor market size is expected to see strong growth in the next few years. It will grow to $9.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to 5g technology expansion, electric vehicle (ev) market growth, emerging market adoption of electronics, renewable energy integration, and global market expansion. Major trends in the forecast period include integration of capacitors in power electronics, technological advancements in capacitor design, eco-friendly capacitors, miniaturized capacitors for wearables and iot, and strategic partnerships.
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Market Drivers and Trends:
The rising demand for capacitors is expected to propel the growth of the electrolytic capacitor market going forward. Capacitors refer to electronic components that have 2 terminals and the ability to store energy in the form of an electric charge. Electrolytic capacitors are used in DC power supply circuits due to their large capacitance, and this will help to reduce voltage and voltage fluctuations. For instance, in February 2022, according to Global Trade magazine, a US-based magazine, the largest capacitor importing markets were China and Hong Kong, accounting for imports of $8.8 billion, $5.4 billion, and Germany, $2 billion. Similarly, in 2020-21, according to the Observatory of Economic Complexity, a US-based data visualization portal for data on global commerce developed by Macro Connections group at the MIT Media Lab, electrical capacitors exports increased by 23.7%, from $28.4 billion to $35.1 billion. Therefore, the rising demand for capacitors is driving the growth of the electrolytic capacitor market.
Technological advancements are the key trend gaining popularity in the electrolytic capacitor market. Major companies operating in the electrolytic capacitor market are focused on developing new technological solutions to strengthen their position. For instance, in October 2022, Nippon Chemi-Con Corporation, a Japan-based company that manufactures capacitors and other miscellaneous electrical components, launched the KHU/LHU series of snap-in type aluminum electrolytic capacitors. The KHU Series ensures 3,000 hours at 105°C, whereas the LHU Series promises 5,000 hours at 105°C. These capacitors are used to smooth the power supply input, which aids in the downsizing and longevity of shifting energy sources and general-purpose inverters. Aluminum electrolytic capacitors of the snap-in kind are mostly utilized in power supply smoothing circuits. The newly designed LHU Series and KHU Series achieve increased capacitance for existing 475V and 500V KHS/LHS Series products without sacrificing durability. When compared to the present series, capacitance per volume can be enhanced by up to 60%.
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Major Key Players of the Market:
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
Electrolytic Capacitor Market 2024 Key Insights:
• The electrolytic capacitor market size is expected to see strong growth in the next few years. It will grow to $9.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Explosive Growth Electrolytic Capacitor Market Thrives On Rising Demand For Capacitors
• Evolving Capacitor Technology Nippon Chemi-Con's Khu/Lhu Series Redefines Aluminum Electrolytic Capacitors
• Asia-Pacific was the largest region in the electrolyte capacitor market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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