| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 5.29 Billion |
| Market Size (2030) | USD 7.12 Billion |
| CAGR (2025 - 2030) | 6.10 % |
| Fastest Growing Market | Europe, Middle East, and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Capacitor Market Analysis
The Capacitor Market For Power Electronics Industry is expected to grow from USD 5.29 billion in 2025 to USD 7.12 billion by 2030, at a CAGR of 6.1% during the forecast period (2025-2030).
The global electronics industry is experiencing a significant transformation driven by the increasing integration of advanced technologies and the rising demand for sophisticated electronic devices. The proliferation of 5G technology is reshaping the telecommunications landscape, with Ericsson projecting global 5G subscriptions to surpass 5.3 billion by 2029. This rapid advancement in connectivity solutions has led to an unprecedented demand for components in power electronics, particularly capacitors used in power electronics, which play a crucial role in ensuring stable power supply and efficient energy management in modern electronic devices.
The automotive sector is witnessing a remarkable shift toward electrification, fundamentally altering the demand dynamics for components in power electronics. According to the International Energy Agency (IEA), electric car sales witnessed a substantial 35% year-on-year increase in 2023, with approximately 14 million units sold globally, representing 18% of total car sales. This transition has catalyzed innovations in power electronic systems, particularly in areas such as regenerative braking systems, DC-DC converters, and onboard chargers, where capacitors for electric vehicles serve as critical components for capacitors used in energy storage and voltage regulation.
The renewable energy sector's expansion has emerged as a significant driver for power electronics applications. In the United States alone, solar power generation reached a historic peak of 164.5 terawatt hours in 2023, highlighting the growing adoption of clean energy solutions. This surge in renewable energy installations has intensified the demand for high-performance capacitors used in energy storage, which are essential for power conversion, energy storage, and grid stabilization applications in solar and wind power systems.
The industry is experiencing a notable trend toward miniaturization and increased functionality in electronic components. According to the Organization of Motor Vehicle Manufacturers (OICA), the European motor vehicle manufacturing industry produced over 18.1 million vehicles in 2023, with 85.3% being passenger cars equipped with advanced electronic systems. This trend has spurred innovations in capacitor technology, leading to the development of smaller, more efficient power capacitors capable of handling higher power densities while maintaining reliability and performance in increasingly compact electronic devices.
Capacitor Market Trends
Growing Need for Induction Motors Across Several Industries
The increasing global focus on energy efficiency and industrial automation has driven substantial demand for induction motors across various sectors. According to the U.S. Energy Information Administration (EIA), global industrial energy consumption is projected to grow from 241.10 quadrillion British thermal units in 2020 to 361.4 quadrillion British thermal units by 2050, highlighting the critical need for efficient motor systems. This surge in energy demand has prompted industries to adopt high-efficiency induction motors, which are more reliable and energy-efficient than traditional high-voltage motors, offering significant energy cost savings and reduced maintenance requirements. The industrial sector's substantial energy consumption, accounting for 37% (166 EJ) of global energy use in 2022, further emphasizes the importance of efficient motor systems in industrial applications.
The renewable energy sector has emerged as a significant driver for induction motor adoption, particularly in solar and wind power applications. For instance, according to the EIA, the net solar power generation in the United States reached its highest point yet at 164.5 terawatt-hours of solar thermal and photovoltaic (PV) power in 2023. This growth in renewable energy infrastructure has created increased demand for induction motors in various applications, from solar tracking systems to wind turbine components. The manufacturing sector's transformation through Industry 4.0 initiatives has also accelerated the adoption of induction motors, with automation and computational intelligence becoming seamlessly connected to smart manufacturing processes. These motors offer advantages such as low cost, ease of operation, low maintenance requirements, high starting torque, and speed variation capabilities, making them essential components in modern industrial automation systems. Additionally, the integration of industrial capacitors and high-voltage capacitors in these systems enhances power management and efficiency, further supporting the growing need for induction motors.
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Increasing Demand for Innovative Systems in Advanced Vehicles
The automotive industry's rapid transformation toward electrification and advanced driver assistance systems (ADAS) has created unprecedented demand for innovative power electronic systems. According to the International Energy Agency (IEA), electric car sales experienced a significant increase of around 25% in Q1 2024 compared to the same period in 2023, with electric car sales potentially reaching a 45% market share in China, 25% in Europe, and over 11% in the United States by 2024. This growth is driven by increasing competition among manufacturers, decreasing battery and car prices, and ongoing policy support. The expansion of electric bus adoption is particularly noteworthy, with China registering 54,000 electric buses and Europe recording 5,000 registrations in 2022, demonstrating the growing acceptance of electric vehicles in public transportation.
The integration of advanced driver assistance systems has further accelerated the demand for sophisticated power electronic components. Recent data indicates that by 2027, rear cameras are expected to be present in 73% of registered vehicles, while front crash prevention systems are projected to reach 51% adoption rates. These advanced features require robust power management systems and energy storage solutions, driving the demand for innovative capacitor technologies. The industry has responded with significant developments, such as Keltron's February 2024 inauguration of a state-of-the-art supercapacitor manufacturing plant in Kannur, India, backed by an INR 42 crore investment. Government initiatives have also played a crucial role, with policies like India's FAME-II scheme increasing demand incentives from INR 10,000 to INR 15,000 per KWh for electric two-wheelers, demonstrating strong governmental support for advanced vehicle technologies. The use of electric vehicle capacitors and energy storage capacitors in these systems is critical for enhancing performance and reliability, supporting the growing demand for advanced vehicle technologies.
Segment Analysis: By Type
Paper and Plastic Film Capacitor Segment in Capacitor Market for Power Electronics
The film capacitor segment dominates the global capacitor market for power electronics, commanding approximately 45% market share in 2024. This segment's prominence is driven by its extensive adoption in the thriving renewable energy sector, particularly in power inverters and converters used in solar and wind power applications. Film capacitors are preferred for their reliability in high-voltage applications, making them essential components in power factor correction, motor run applications, and electromagnetic interference suppression. The segment's growth is further supported by their increasing use in electric vehicle charging infrastructure, industrial automation systems, and smart grid applications where high-performance capacitors are crucial for efficient power conversion and energy storage.
Supercapacitors/EDLC Segment in Capacitor Market for Power Electronics
The supercapacitors/EDLC segment is experiencing remarkable growth in the capacitor market for power electronics, projected to expand at approximately 11% CAGR from 2024 to 2029. This impressive growth trajectory is driven by the increasing adoption of supercapacitors in automotive applications, particularly in regenerative braking systems and start-stop systems of electric and hybrid vehicles. The segment's expansion is further fueled by the growing demand for these components in renewable energy storage, industrial power backup systems, and smart grid applications. Supercapacitors' ability to provide rapid charge-discharge cycles, high power density, and extended operational lifespans makes them increasingly attractive for applications requiring quick bursts of power and reliable energy storage solutions.
Remaining Segments in Capacitor Market for Power Electronics by Type
The ceramic capacitor segment maintains significant market presence due to its widespread use in consumer electronics and automotive applications, particularly in advanced driver assistance systems and electric vehicle powertrains. Electrolytic capacitors continue to be vital in power supply units and industrial equipment, offering high capacitance values in compact sizes. The tantalum capacitor segment, while smaller, remains crucial in specialized applications requiring high reliability and stability, such as aerospace and medical devices. Each of these segments contributes uniquely to the market, serving specific technical requirements across various industries and applications.
Segment Analysis: By End-User Industry
Energy and Power Segment in Capacitor Market for Power Electronics
The energy and power segment dominates the capacitor market for power electronics, commanding approximately 38% market share in 2024. This significant market position is driven by the increasing adoption of renewable energy sources and the growing need for efficient power distribution systems. The segment's prominence is further strengthened by the rising deployment of smart grid technologies, energy storage systems, and power factor correction applications. Capacitors play a crucial role in these applications by providing voltage regulation, energy storage capabilities, and power quality improvement. The segment's growth is also supported by various government initiatives promoting clean energy adoption and grid modernization projects worldwide. Additionally, the increasing focus on energy efficiency and the integration of renewable energy sources into existing power grids continue to drive the demand for capacitors in power electronics applications within this sector.
Automotive and Transportation Segment in Capacitor Market for Power Electronics
The automotive and transportation segment is experiencing the fastest growth in the capacitor market for power electronics, with a projected CAGR of approximately 10% during 2024-2029. This remarkable growth is primarily attributed to the rapid electrification of vehicles and the increasing adoption of advanced driver assistance systems (ADAS). The segment's expansion is further fueled by the growing integration of electronic components in modern vehicles, including electric powertrains, infotainment systems, and safety features. The rise of electric vehicles (EVs) and hybrid electric vehicles (HEVs) has created a substantial demand for high-performance capacitors that can handle power conversion, energy storage, and voltage regulation requirements. Additionally, the increasing focus on vehicle electrification and autonomous driving technologies continues to drive innovation in capacitor design and functionality, making this segment a key growth driver in the market.
Remaining Segments in End-User Industry
The consumer electronics, industrial, aerospace and defense, and other end-user industries segments collectively represent significant portions of the capacitor market for power electronics. The consumer electronics segment maintains a strong presence due to the continuous evolution of smartphones, laptops, and other electronic devices. The industrial segment's growth is driven by increasing automation and Industry 4.0 initiatives, while the aerospace and defense sector's demand is fueled by advanced military electronics and commercial aviation applications. Other end-user industries, including medical devices and telecommunications, contribute to the market's diversity through specialized applications and unique requirements for power electronic components. Each of these segments presents unique opportunities and challenges, contributing to the overall dynamism of the capacitor market for power electronics.
Capacitor Market For Power Electronics Geography Segment Analysis
Capacitor Market for Power Electronics in China
China dominates the global capacitor market for power electronics, commanding approximately 37% of the market share in 2024, while also demonstrating remarkable growth potential with a projected CAGR of around 7% from 2024 to 2029. The country's leadership position is strengthened by its robust manufacturing ecosystem and significant investments in electric vehicle production. The automotive sector's rapid expansion, particularly in electric vehicles, has been a crucial driver, with domestic production expected to reach 35 million vehicles by 2025. China's commitment to renewable energy integration, demonstrated through substantial investments in smart grid technologies and energy storage solutions, further amplifies the demand for power electronics capacitors. The nation's industrial automation initiatives, supported by programs like "Made in China 2025," continue to drive technological advancement and manufacturing excellence in the capacitor sector. Additionally, the country's strong consumer electronics manufacturing base and growing adoption of 5G technology create sustained demand for high-performance ceramic capacitors and film capacitors.
Capacitor Market for Power Electronics in United States
The United States represents a significant hub for technological innovation in the capacitor market for power electronics, driven by its advanced automotive sector and robust renewable energy initiatives. The nation's automotive industry has witnessed substantial growth in electric vehicle adoption, with EVs accounting for 9.3% of new light-duty vehicle sales in Q1 2024. The country's commitment to renewable energy is exemplified by the Department of the Interior's achievement of permitting over 25 GW of renewable energy capacity on public land. The presence of major automotive manufacturers and their increasing focus on electric vehicle production continues to drive demand for sophisticated power electronics components. The nation's strong military and defense sector, coupled with significant investments in aerospace technology, creates additional demand for high-performance electrolytic capacitors. Furthermore, the US government's emphasis on boosting local manufacturing through initiatives like "Make in America" has been instrumental in driving industrial automation and creating new opportunities for capacitor manufacturers.
Capacitor Market for Power Electronics in Europe
Europe maintains its position as a crucial market for power electronics capacitors, driven by its stringent environmental regulations and strong automotive manufacturing base. The region's automotive sector, led by renowned manufacturers like BMW, Volkswagen, and Mercedes-Benz, continues to drive innovation in electric vehicle technology. The European Union's aggressive push toward vehicle electrification and sustainable transportation solutions has created substantial demand for advanced capacitor technologies, including high-frequency capacitors. The region's commitment to Industry 4.0, particularly evident in Germany's 2030 Vision for Industry 4.0, has accelerated the adoption of automation technologies across manufacturing sectors. The robust defense modernization initiatives across European nations, coupled with increasing investments in renewable energy infrastructure, have created diverse applications for power electronics capacitors. Additionally, the region's focus on smart grid development and energy efficiency improvements continues to drive demand for advanced capacitor solutions.
Capacitor Market for Power Electronics in Other Countries
The capacitor market for power electronics demonstrates significant potential across other regions, including Japan, Korea, Taiwan, and emerging markets. Japan's mature electronics industry and strong automotive sector continue to drive innovation in capacitor technology, while Korea's leadership in robot density and automation creates sustained demand. Taiwan's semiconductor expertise and growing electric vehicle initiatives provide unique opportunities for market expansion. Other regions, particularly in Southeast Asia and Latin America, are experiencing growing demand driven by increasing industrial automation, renewable energy adoption, and consumer electronics manufacturing. The diverse applications of capacitors across these markets, ranging from industrial automation to consumer electronics and automotive applications, contribute to the overall market dynamics. These regions also benefit from increasing investments in smart grid infrastructure and the growing adoption of electric vehicles, creating new opportunities for market growth.
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Capacitor Industry Overview
Top Companies in Capacitor Market for Power Electronics
The capacitor market for power electronics components is led by established players, including TDK Corporation, Vishay Intertechnology, Murata Manufacturing, AVX Corporation (Kyocera Group), and Kemet Corporation (Yageo Group). These companies demonstrate a strong commitment to product innovation through substantial R&D investments, particularly in developing miniaturized capacitors with enhanced performance characteristics for emerging applications in automotive electronics and IoT devices. Operational agility is evidenced by their strategic manufacturing facility expansions across key markets and the implementation of advanced production technologies to meet evolving demand patterns. Companies are increasingly focusing on strategic partnerships and acquisitions to strengthen their technological capabilities and expand their product portfolios. Market leaders are also emphasizing sustainability initiatives and quality control measures while developing specialized solutions for high-growth segments like electric vehicles, renewable energy systems, and advanced industrial automation.
Global Leaders Dominate Consolidated Market Structure
The market structure is characterized by the dominance of large multinational conglomerates with diverse product portfolios and extensive geographic presence. These established players leverage their strong financial resources, advanced R&D capabilities, and well-established distribution networks to maintain their market positions. The industry exhibits a high degree of consolidation, with top players controlling significant market share through their technological expertise and long-standing customer relationships. Regional players typically focus on specific product segments or local markets, often competing through specialized applications and customer service excellence.
The market has witnessed significant merger and acquisition activity, particularly among mid-sized players seeking to enhance their competitive position and expand their technological capabilities. Japanese and European manufacturers have been particularly active in strategic acquisitions, aiming to strengthen their presence in emerging markets and acquire complementary technologies. Vertical integration strategies are becoming increasingly common as companies seek to secure their supply chains and enhance operational efficiency. The industry also sees strategic partnerships forming between capacitor manufacturers and end-user industries, particularly in the automotive and renewable energy sectors.
Innovation and Adaptability Drive Market Success
For incumbent players to maintain and expand their market share, a focus on technological innovation and product customization capabilities is crucial. Companies need to invest in developing next-generation capacitors that address the increasing demands for miniaturization, higher energy density, and improved reliability. Building strong relationships with key customers through collaborative development projects and maintaining robust quality management systems are essential strategies. Additionally, established players must optimize their manufacturing processes through automation and digital transformation while maintaining flexible production capabilities to respond to market fluctuations.
New entrants and challenger companies can gain ground by focusing on emerging market segments and developing specialized solutions for specific applications. Success factors include establishing strong technical support capabilities, building efficient distribution networks, and maintaining competitive pricing strategies. Companies must also consider the increasing importance of environmental compliance and sustainability in product development and manufacturing processes. The market presents moderate substitution risks, primarily from emerging energy storage technologies, while regulatory requirements, particularly in automotive and industrial applications, continue to shape product development and market access strategies. Customer concentration in key end-user segments necessitates diversification strategies and the development of strong value propositions to maintain competitive advantages.
Capacitor Market Leaders
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TDK Corporation
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Vishay Intertechnology Inc.
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Murata Manufacturing Co. Ltd
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AVX Corporation (Kyocera Group)
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Kemet Corporation (Yageo Company)
- *Disclaimer: Major Players sorted in no particular order
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Capacitor Market News
- March 2023: Cornell Dubilier Electronics introduced low inductance, high current DC link film capacitors in the 944L series. Applications in Level 3 EV chargers and green energy inverter systems are increasing the demand for power conversion circuits that give more power in a smaller package. The 944L series is made by keeping these applications in mind.
- October 2022: Snap-in type capacitors with warranties of 3,000 hours at 105°C and 5,000 hours at 105°C have been produced by Nippon Chemi-Con. These capacitors are used to smooth the power supply input, which results in a reduction in size and a longer lifespan for general-purpose inverters and switching power supplies. Aluminum electrolytic capacitors of the snap-in variety are typically used to smooth out power supply circuits. However, there has been a rise in demand for server power supplies in the United States and Canada, as well as power conditioners for solar power generation and electricity storage systems that aim to achieve carbon neutrality. High-voltage resistance devices rated at 475 V and 500 V must have more capacitance for these applications.
Capacitor Market For Power Electronics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Buyers
- 4.2.2 Bargaining Power of Suppliers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Degree of Competition
- 4.3 Industry Value Chain Analysis
- 4.4 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Need for Induction Motors Across Several Industries
- 5.1.2 Increasing Demand for Innovative Systems in Electric Vehicles
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5.2 Market Restraints
- 5.2.1 Instances of Current Leakage in Electrical Components
6. MARKET SEGMENTATION
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6.1 Type
- 6.1.1 Ceramic
- 6.1.2 Tantalum
- 6.1.3 Aluminium Electrolytic Capacitors
- 6.1.4 Paper and Plastic Film Capacitor
- 6.1.5 Supercapacitors/EDLC
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6.2 Geography
- 6.2.1 Americas
- 6.2.2 Europe, Middle East and Africa
- 6.2.3 Asia (excluding Japan and Korea)
- 6.2.4 Japan and South Korea
- 6.2.5 Australia and New Zealand
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 TDK Corporation
- 7.1.2 Vishay Intertechnology Inc.
- 7.1.3 Murata Manufacturing Co. Ltd
- 7.1.4 AVX Corporation (Kyocera Group)
- 7.1.5 Kemet Corporation (Yageo Company)
- 7.1.6 Cornell Dubilier Electronics Inc.
- 7.1.7 Eaton Corporation PLC
- 7.1.8 Hongfa Technology Co.
- 7.1.9 NIPPON CHEMI-CON CORPORATION
- 7.1.10 Yageo Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
*** In the Final Report Asia, Australia and New Zealand will be Studied Together as 'Asia Pacific'
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Capacitor Industry Segmentation
Power electronics capacitors are known to be made specifically for use with non-sinusoidal voltages and pulse currents. Both DC and AC applications can use power electronics capacitors. Input/output filters, damping capacitors, and semiconductor element erasure require AC capacitors.
The capacitor market for power electronics is segmented by type (ceramic, tantalum, aluminum electrolytic capacitors, paper, and plastic film capacitors, and supercapacitors/EDLC), end user (power transmission and distribution, motors and drives, lighting, and power supplies and adapters), and geography. The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| Type | Ceramic |
| Tantalum | |
| Aluminium Electrolytic Capacitors | |
| Paper and Plastic Film Capacitor | |
| Supercapacitors/EDLC | |
| Geography | Americas |
| Europe, Middle East and Africa | |
| Asia (excluding Japan and Korea) | |
| Japan and South Korea | |
| Australia and New Zealand |
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Capacitor Market For Power Electronics Market Research Faqs
How big is the Power Electronics Capacitor Market?
The Power Electronics Capacitor Market size is expected to reach USD 5.29 billion in 2025 and grow at a CAGR of 6.10% to reach USD 7.12 billion by 2030.
What is the current Power Electronics Capacitor Market size?
In 2025, the Power Electronics Capacitor Market size is expected to reach USD 5.29 billion.
Who are the key players in Power Electronics Capacitor Market?
TDK Corporation, Vishay Intertechnology Inc., Murata Manufacturing Co. Ltd, AVX Corporation (Kyocera Group) and Kemet Corporation (Yageo Company) are the major companies operating in the Power Electronics Capacitor Market.
Which is the fastest growing region in Power Electronics Capacitor Market?
Europe, Middle East, and Africa is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Power Electronics Capacitor Market?
In 2025, the Asia Pacific accounts for the largest market share in Power Electronics Capacitor Market.
What years does this Power Electronics Capacitor Market cover, and what was the market size in 2024?
In 2024, the Power Electronics Capacitor Market size was estimated at USD 4.97 billion. The report covers the Power Electronics Capacitor Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Power Electronics Capacitor Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Capacitor Market For Power Electronics Research
Mordor Intelligence offers a comprehensive analysis of the power electronics component industry, focusing specifically on capacitors for power electronics. Our extensive research covers various capacitor types, including electrolytic capacitor, ceramic capacitor, and film capacitor technologies. The report provides detailed insights into applications such as energy storage capacitor systems, filter capacitor implementations, and power factor correction capacitor solutions. We also examine high voltage capacitor technologies, converter capacitor applications, and snubber capacitor implementations used in modern power systems.
Stakeholders benefit from our detailed examination of industrial capacitor applications, including high frequency capacitor technologies and smoothing capacitor solutions. The report, available as an easy-to-download PDF, covers emerging trends in electric vehicle capacitor development and high ripple current capacitor applications. Our analysis extends to power capacitor innovations in switching power supply capacitor systems and inverter capacitor technologies. The comprehensive coverage of the film capacitor market, ceramic capacitor market, and high voltage capacitor market provides stakeholders with actionable insights for strategic decision-making in the power electronics sector.
