NEWARK, Del, Sept. 06, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the global film capacitors market size is likely to reach an estimated US$ 3 Billion in 2023. It is projected to surpass US$ 3.9 Billion by 2033. The market is estimated to witness steady growth at a CAGR of 2.6% from 2023 to 2033.
Future Market Insights (FMI) mentions that the global film capacitors industry is projected to showcase a CAGR of 2.6% in the estimated time frame. In the historical period between 2018 and 2022, the market witnessed a decent CAGR of 3.8%.
The film capacitor market spans a wide range of applications and sectors. These include sectors like consumer electronics, automotive, industrial automation, renewable energy, communications, medical devices, aerospace, and defense.
Film capacitors are used in power supplies, motor drives, inverters, lighting systems, audio equipment, communication equipment, and several other electronic systems.
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The shift to renewable energy sources and the need for efficient energy storage solutions are increasing the demand for film capacitors in applications such as solar inverters, wind turbines, and energy storage systems.
Film capacitors are widely used in consumer electronics such as smartphones, tablets, TVs, and audio systems. Increasing demand for consumer electronics is fueling the growth of the film capacitor market.
The automotive industry's transition to electric vehicles (EV) and hybrid electric vehicles (HEV) has significantly amplified the demand for film capacitors in automotive power electronics, motor drives, charging systems, and other applications.
Increasing deployment of industrial automation and infrastructure development projects around the world, growing the demand for film capacitors in applications such as motor drives, power supplies, lighting systems, and smart grid infrastructure is driving the market.
Consumers prefer film capacitors since they play a key role in improving energy efficiency in a variety of applications. They do this by by reducing power loss, improving power factor correction, and refining overall system performance. Rising regulatory requirements and awareness of energy efficiency are also contributing to the growth of the film capacitor market.
Film capacitors are known for their reliability, long life, and excellent performance under harsh conditions. These properties make them ideal for critical applications requiring stable and durable capacitors.
The film capacitor market is a dynamic industry driven by technological advancements, industry specific requirements, and increasing demand for energy-efficient and reliable electronic components in several sectors.
“Continual advances in film capacitor technology have improved performance characteristics such as high capacity, rated voltage, temperature stability, and miniaturization. These advances are driving the adoption of film capacitors across critical sectors.”—opines our senior consultant at FMI.
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Key Takeaways from the Film Capacitors Market Report:
- China film capacitors industry is likely to witness a CAGR of 2.5% from 2023 to 2033.
- The United States is estimated to be valued at US$ 709.6 Million by 2033
- As per FMI, the United Kingdom film capacitors industry is likely to witness a CAGR of 2.3% from 2023 to 2033.
- In terms of material type, the paper category is anticipated to showcase a CAGR of 2.5% from 2023 to 2033
- Based on application, the AC application segment is likely to lead the global film capacitors market through 2033 at a CAGR of 2.4%.
Competitive Landscape:
A competitive analysis of the film capacitor market reveals a highly competitive landscape characterized by multiple key players within the industry. These companies focus on developing innovative products, executing merger and acquisition strategies, and expanding distribution networks to strengthen their market position.
These players compete based on product innovation, quality, pricing, and distribution network. Additionally, market players are investing heavily in research and development activities to introduce more efficient, reliable, and advanced film capacitors.
In addition, each player is focusing on expanding their sales networks to expand their market reach and meet the growing demand for film capacitors in various regions.
For instance, in August 2021, KEMET Corporation announced an expanded distribution agreement with TTI, Inc., a global distributor of electronic components.
Furthermore, the competitive environment in the film capacitor market is expected to remain intense in the coming years due to the rising demand for high-performance capacitors and the emergence of new entrants.
Key Players Profiled in the Film Capacitors Market Report:
- AVX Corporation;
- Cornell Dubilier Electronics, Inc.;
- KEMET Corporation;
- Nichicon Corporation;
- Panasonic Corporation
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More Insights Available
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the film capacitors market, presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals segments segmented in terms of material (paper, plastic) application (AC application, DC application) and end-use (automotive, consumer electronics, manufacturing, communication & technology, others) from 2023 to 2033.
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Film Capacitors Market Outlook by Category:
Material:
- Paper
- Plastic
Application:
- AC Application
- DC Application
End-Use:
- Automotive
- Consumer Electronics
- Manufacturing
- Communication & Technology
- Others
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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