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The film capacitor market size is estimated to grow by USD 495.8 million, at a CAGR of 3.2% between 2023 and 2028. The market's growth hinges on several pivotal factors, notably the rising adoption of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs). This trend is bolstered by substantial investments in Research and Development (R&D), aimed at enhancing technological advancements and product innovations. Furthermore, the market benefits from its expanding role in renewable energy applications, driving demand for sustainable solutions across various sectors. As EVs and HEVs gain traction globally, coupled with ongoing R&D investments, the market is poised to capitalize on the growing emphasis on environmental sustainability and energy efficiency. These dynamics underscore a promising trajectory for the market, fueled by technological innovation and increasing integration into diverse renewable energy initiatives.
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The market is integral to various industries due to its versatile applications and advanced technological features. Film capacitors utilize thin plastic films such as polyethylene terephthalate and polycarbonate, which offer low self-inductance and low equivalent series resistance, ensuring efficient operation in electric devices. They find extensive use in telecommunications, consumer appliances like tablets, TVs, and audio equipment, and in power and utilities for applications ranging from DC to AC film capacitors. These capacitors are crucial in electronic circuits, power film capacitors, damping capacitors, and lighting ballasts, where their metallized construction enhances performance and reliability. As manufacturing techniques advance and demand grows for more compact and efficient electronic components, the film capacitor market continues to expand, driven by technological innovation and diverse industrial requirements. The increasing R&D investments are notably driving the market growth, although factors such as the increasing number of counterfeit products may impede the market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing R&D investments are notably driving the market growth. The dearth of product differentiation in the global market has forced companies to identify new materials that can be used as a dielectric, increasing the capacitance value. Therefore, many companies in the market are focusing on R&D to find new products and materials to make insulators that can be used in various next-generation applications such as artificial intelligence (AI), robotics, machine learning, and quantum computing.
Robotics, machine learning, and quantum computing require many of them for various purposes. Therefore, companies must invest heavily in R&D to identify, design, develop, and market new types. For example, Vishay Intertechnology introduced its AC filter film capacitors with a metalized polypropylene dielectric that can be used in high-humidity environments. Such factors are driving the global market growth during the forecast period.
The introduction of nanolayer film capacitors is an emerging trend in the market. The width of the film (dielectric) layer in nanolayer film capacitors is in nanometers. Nano-layer cells have been introduced and can withstand up to 150 degrees C. One of the major characteristics of a capacitor is the dielectric strength of the material, which is used to measure the electrical strength of the insulator. To improve the dielectric strength, it is necessary to improve the energy density of the dielectric material. Increasing the energy density is also essential to reduce the overall size of the component.
Additionally, they should also operate at higher temperatures. This makes them useful in industrial applications. The nano-layer dielectric can provide both of these properties. It has a high energy density, which is an essential feature in the development of next-generation capacitors. Nanolayer films are metalized so they have self-healing capabilities. Nanolayer dielectrics are considered the next generation of polymer dielectrics that can be used in the fields of power electronics, printable technology, and pulse energy technology. Such factors will drive the market during the forecast period.
The increasing number of counterfeit products is a major challenge impeding the market growth. Counterfeit products are products that violate the intellectual property rights of a company and are unauthorized copies of an original product from an Original Component Manufacturer (OCM). Although capacitors are relatively cheap, the number of fake products in the market is increasing. These fake products are made with passive components on the circuit board. These passive components are sold in large quantities. Some of these counterfeiters produce capacitors from scrap metal or recycled electronic waste. These capacitors have incorrect capacitance values.
The use of these fake products can critically damage the device, equipment, or electrical system in which they are used. The fake capacitors can cause short circuits that can cause the device to explode, potentially harming people's lives too. Hence, companies are compelled to warn their customers to buy the company's products only from authorized dealers. Thus, the increasing number of counterfeit capacitors may adversely affect the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Hitachi Ltd. -The company offers products and services such as consulting, cloud systems, software, and others. The company's key offerings include film capacitors.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the polyester film capacitor segment will be significant during the forecast period. This is the most extensively used capacitor. It is mainly used in the automotive, consumer electronics, lighting, power, and telecommunication industries.
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The polyester film capacitors segment was valued at USD 1.22 billion in 2018. A few of the major reasons behind the segment growth are low cost, the increasing demand in coupling and decoupling applications, and the increasing demand for metalized polypropylene ones. Since these capacitors have high usability and self-healing capability because of metalized polyester this segment is purchased on a large scale. These are the reasons behind the segment growth during the forecast period.
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APAC is estimated to contribute 71% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The governments of various countries in APAC are investing heavily in the development of high-voltage power grids. The increasing investments in power grid projects will accelerate the demand for various equipment, such as DC and AC converters, motors, snubber circuits, and rectifier circuits, which employ these to function efficiently.
Another important driver for the growth of the market in APAC is the increase in the demand for renewable energy resources. To make use of renewable energy resources, many DC-AC converters are required. Also, the energy generated through renewable resources is highly unstable, which makes it dangerous. Hence, these are needed to store charges in cases of voltage fluctuations. This will fuel the growth of the market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is pivotal across various industries, driven by its extensive applications and technological advancements. Utilizing thin plastic film like polyethylene terephthalate and polycarbonate, these capacitors meet high temperature requirements and adhere to stringent industrial and environmental standards. They play a critical role in electric vehicle systems, telecommunications, and consumer electronics such as smartphones, laptops, and IoT devices. Film capacitors cater to diverse sectors including power and utilities, alternating current (AC) and direct current (DC) applications, and kitchen appliances. They enhance efficiency in sectors like battery charging, aluminium smelting, railways, and renewable energy systems like photovoltaic inverters and wind turbines. With applications in industrial automation, aerospace, defense, and telecommunications equipment, film capacitors ensure stable operations in demanding environments, contributing to energy efficiency, clean energy solutions, and advanced electronic systems globally.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.2% |
Market Growth 2024-2028 |
USD 495.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.08 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 71% |
Key countries |
China, US, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Cefem Group, Cornell Dubilier Electronics Inc., Custom Electronics Inc., DongGuan Xuansn Electronic Tech, Electro Technik Industrtries Inc., Foshan Shunde District Sheng Ye, Hi Fi Collective Ltd., Hitachi Ltd., Icel Srl, Kyocera Corp., NICHICON Corp., Ningbo Topo Electronic Co. Ltd., Panasonic Holdings Corp., Suntan Technology Co. Ltd., TDK Corp., Vishay Intertechnology Inc., WIMA GmbH and Co. KG, Wurth Elektronik GmbH and Co. KG, XIAMEN FARATRONIC Co. Ltd., and Yageo Corp. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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