Discrete Capacitors Market: Surging growth driven by EV demand, ADAS tech, and infotainment systems in automotive sector. The United States discrete capacitors industry is projected to surge at 7.3% CAGR from 2023 to 2033
NEWARK, Del, Oct. 04, 2023 (GLOBE NEWSWIRE) — The Discrete Capacitors Market exhibited robust growth, with a total market size of US$ 22.1 billion in 2022. Anticipated to surge further, total sales of discrete capacitors are estimated to reach US$ 23.9 billion in 2023, driven by a projected Compound Annual Growth Rate (CAGR) of 7.2% between 2023 and 2033. It is anticipated that by 2033, the revenue in this market segment will soar to approximately US$ 47.7 billion.
The automotive industry is experiencing a shift towards electric vehicles (EVs). EVs require more advanced and efficient power electronics, which rely heavily on capacitors for energy storage and voltage regulation. ADAS technologies, such as collision avoidance systems and adaptive cruise control, require capacitors for filtering and energy storage in sensor and camera modules.
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Modern vehicles are equipped with increasingly sophisticated infotainment systems. Capacitors are essential for audio amplifiers, touchscreen displays, and other entertainment features. Hybrids and electric vehicles have complex powertrains that rely on capacitors for energy storage and power management, especially in regenerative braking systems.
With the rise of connected vehicles and IoT integration, capacitors are used in communication modules for reliable data transmission and processing. As vehicles become more compact and aerodynamic, the demand for small, high-performance capacitors increases, as they are essential for space-saving designs.
Key Takeaways:
- The Discrete Capacitors Market is set to expand at a remarkable 7.2% CAGR between 2023 and 2033, reaching an estimated revenue of US$ 47.7 billion by 2033.
- The automotive industry’s shift towards electric vehicles is a major driver, with capacitors playing a crucial role in power electronics, ADAS technologies, and infotainment systems.
- North America and Asia-Pacific are key regional players, with ceramic capacitors leading in terms of category due to their widespread application.
- Challenges include material availability, supply chain disruptions, and environmental considerations, necessitating strategic planning and sustainability practices.
The automotive industry is at the forefront of this remarkable expansion. With a significant shift towards electric vehicles (EVs), the demand for advanced and efficient power electronics has risen substantially. Capacitors play a pivotal role in energy storage and voltage regulation, becoming a linchpin for EVs. Furthermore, Advanced Driver Assistance Systems (ADAS) technologies, including collision avoidance systems and adaptive cruise control, heavily rely on capacitors for their filtering and energy storage in sensor and camera modules.
In line with these technological advancements, modern vehicles now feature increasingly sophisticated infotainment systems. Capacitors are indispensable components, crucial for audio amplifiers, touchscreen displays, and various entertainment features, ensuring seamless user experiences. Hybrid and electric vehicles, with their complex powertrains, rely significantly on capacitors for energy storage and power management, particularly in regenerative braking systems.
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Competitive Landscape – Regional Trends:
The global discrete capacitors market showcases a competitive landscape shaped by regional trends. North America and Asia-Pacific are expected to remain dominant players in this market, driven by their booming automotive sectors and technological innovations. Europe is also poised for substantial growth due to the surge in electric vehicle adoption. Meanwhile, emerging economies in Latin America and Africa are gradually catching up, presenting lucrative opportunities for market expansion.
Restraints:
Despite the promising growth, challenges persist in the discrete capacitors market. The industry faces constraints related to the availability of rare materials required for capacitor manufacturing, supply chain disruptions, and environmental concerns. These hurdles demand strategic planning and sustainable practices to ensure the market’s sustained growth.
Region-wise Insights – Category-wise Insights:
Region-wise, North America and Asia-Pacific continue to dominate, with their automotive sectors driving the demand for discrete capacitors. In terms of categories, ceramic capacitors are projected to maintain their lead due to their extensive application in various electronic devices and power systems.
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Discrete Capacitors Market Outlook by Category
By Type:
- Ceramic
- Aluminum
- Paper & Plastic AC & DC Film
- Tantalum
By Application:
- Telecom
- Computers
- Consumer
- Automotive
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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