The capacitor is a component that has the ability to store energy in the form of an electrical charge, producing a potential difference (Static Voltage) across its plates, similar to a small rechargeable battery. The basic structure of all capacitor market is the same. A non-conductive material, called dielectric, separates two parallel metal electrode plates. An electric field exists in the dielectric when a voltage exists between these conductive parallel plates. This field conserves energy and generates mechanical force between the plates. There are several types of capacitors available in the global market, ranging from very small capacitor beads and high voltage capacitors to high temperature capacitors and large power factor correction capacitors; however, they all do the same thing, they store charge.
Rise in Sales of Electric Vehicles to Fuel Global Capacitor Market
Demand for electric vehicles is increasing consistently due to favorable government regulations and rising incentive policies for the adoption of electric vehicles across the globe. Electric vehicles (EVs) have fueled the demand for capacitor technologies with high performance and reliability. Diverse voltage, power, and size requirements of modern EV electrical subsystems necessitate careful capacitor selection by designers.
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Capacitors in electric vehicles are designed to prevent ripple currents from returning to the power source and to smooth out DC bus voltage variations. Capacitors are also used to keep semiconductors safe. Furthermore, these capacitors are used to suppress harmful high frequency components generated by switching devices in an electric vehicle's drive system.
According to the International Energy Agency (IEA), in 2021, electric vehicle sold 6.6 million. Approximately 10% of global car sales were electric in 2021, four times the in the 2019 market share. This brought the total number of electric cars on the world’s roads to about 16.5 million, triple the amount in 2018.
Some of the key players from the market such as KYOCERA Corporation provides ceramic capacitor that has a wide voltage range and low series resistance (ESR). These specifications are well-suited for automotive applications. Thus, rise in sales of electric vehicles is likely to have a positive impact on the capacitor market.
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Increase in Demand for Capacitor from Consumer Electronics Industry
Rising demand for capacitors from the consumer electronics sector is one of the significant factors that is projected to boost the market in the next few years. Portable consumer electronics, such as cell phones and cameras, are rapidly evolving to meet the needs of modern society. They're getting smaller, lighter, thinner, more flexible, and more wearable. Supercapacitors are appealing power supplies for portable electronic devices because they can store nearly as much energy as a battery, while also having the advantage of the high-speed energy discharge that is the characteristic of normal capacitors.
Jinzhou Kaimei Power Co., Ltd. is one of the most professional supercapacitor suppliers from China. The company produces several type of capacitors including supercapacitors. Supercapacitors have stable performance, fast charging and discharging speed, environmental protection and safety, and are suitable for electronics applications. Therefore, growing demand for capacitors from the consumer electronics sector is expected fuel the capacitor market.
Reliability and Cost-effective Price Drive Demand for Multilayer Ceramic Capacitors
In terms of product type, the global capacitor market has been segregated into multilayer ceramic capacitor, silicon capacitor, vacuum capacitor, paper/film capacitor, tantalum capacitor, and others (electrolytic capacitor, supercapacitor, etc.). Among the segments, the multilayer ceramic capacitor segment held the highest share of the market in 2021.
Multilayer ceramic capacitor can be utilized in various applications, such as audio and RF, due to their cost-effective prices and reliability. The values of ceramic capacitors range from a few pico-farads to 0.1 micro-farads. Their loss factor varies depending on the dielectric in the system; however, it is still considered to be particularly low.
Ceramic capacitors are primarily used in devices with high stability and low loss. These devices provide accurate results, and their capacitance values are stable with respect to applied voltage, frequency, and temperature.
Some of the major players from the market, such as Vishay Intertechnology, Inc. provides axial leaded multilayer ceramic capacitors for general purpose class 1, class 2 and class 3, 50 vdc, 100 vdc, 200 vdc, and 500 vdc. They possess various features such as high capacitance, high reliability, and axial mounting style.
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Small Size and Ease of Placement on PCBs Augment Demand for Surface Mounted Capacitors
In terms of mounting type, the global capacitor has been classified into surface mounted and through-hole. Surface mounted is one of the significant type of capacitor mounting and these capacitors are widely used in high-volume manufacturing. This type of capacitor is small, leadless, and can be placed on modern printed circuit boards using modern pick and place machines. The primary function of any surface mounted capacitor is to store and re-supply electrical energy, i.e. charge and discharge electrical energy.
In April 2022, Omni Pro Electronics introduced the NAZR Series of surface mount High-CV aluminum electrolytic capacitors. The series can be used in communication infrastructure and supports power electronics applications up to 100 vdc.
Regional Outlook of Global Capacitor Market
Asia Pacific held the largest share of approximately 38% of the global capacitor market in 2021 due to the presence of major players in the region and growing adoption of capacitors in consumer electronic devices. China is a prominent market in Asia Pacific for capacitor due to the availability of raw materials and strong presence of small-scale capacitor manufacturing companies in the country. Furthermore, increase in usage of capacitor for the automotive and power and utility sectors drives market growth.
Middle East & Africa is a larger market for capacitor as compared to South America; however, the market in South America is estimated to grow at a rapid pace as compared to the market in Middle East & Africa.
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