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The film capacitor market size is estimated to grow by USD 477.85 million at a CAGR of 3.18% between 2022 and 2027. The growth of the market depends on several factors, including the increasing adoption of EVs and HEVs, the increasing investments in R&D, and the use in renewable energy applications.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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 2022 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.
Key Market Driver
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.
Significant Market Trend
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.
Major Market Challenge
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.
Key Market Customer Landscape
Themarket 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.
Global Market 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 operates under multiple segments including IT, and energy among others, with a high focus on IT. They offer 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 1,191.72 million in 2017 and continued to grow until 2021. 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 69% 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 forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is integral to various industries like Telecommunications and IT, Medical Equipment, Aerospace and Defense, and the Consumer Electronics Industry. It plays a crucial role in enabling energy-efficient solutions and supporting the integration of renewable energy assets in the energy sector.
Technological advances have led to the development that meets energy efficiency standards and is suitable for a wide range of applications, including power factor correction, motor drives, power supplies, and lighting systems. They are also essential for industrial automation and smart grid development, ensuring grid stability and power quality. Manufacturers, designers, and end-users benefit from the performance characteristics of these, including efficient energy management, performance improvements, and clean energy initiatives. With the increasing demand for efficient energy storage solutions and the rise of electric vehicles (EVs) and hybrid electric vehicles (HEVs), the market is poised for further growth, driving innovations in capacitor technologies and applications.
Film Capacitor Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.18% |
Market growth 2023-2027 |
USD 477.85 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.01 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 69% |
Key countries |
US, China, 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 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, Market condition analysis for the 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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