Capacitor Market For Power Electronics Market Size (2024 - 2029)

Capacitor Market Analysis

The Capacitor Market For Power Electronics Industry is expected to grow from USD 4.99 billion in 2024 to USD 6.70 billion by 2029, at a CAGR of 6.10% during the forecast period (2024-2029).

In electrical circuits, capacitors are frequently employed to block direct current (DC) while allowing alternating current to flow.

• In 2022, the cost of the capacitor made up around 10% of the entire cost of the power converter. Film capacitors are the costliest form of capacitors and are frequently employed for high power levels. Consequently, as more capacitors are required due to the system's increasing power level, the cost of capacitors in a power converter rises.
• Electric automobiles contribute to significant market demand, in addition to the numerous commercial and public electric vehicles, such as buses, trains, trams, and industrial trucks and equipment, that are used daily. Besides, hybrid cars are now on the roads as people search for more environment-friendly forms of personal transportation in response to the skyrocketing price of oil. The DC link power capacitor is only one example of how the electrical systems and parts that have made it possible to build such a wide range of electric cars have all undergone significant change.
• Capacitors are used in electric cars to smooth out changes in DC bus voltage and stop ripple currents from returning to the power source. Additionally, capacitors are utilized for safeguarding semiconductors like IGBTs rather than the original thyristors.
• It is expected that by the end of the forecast period, the market share of capacitors for power electronics used in EVs will rise from 29% to 44%. As a result, many capacitor businesses are eager to grow and concentrate on the present and future requirements of the automobile sector.
• The most common electrical motors are induction motors because of their dependability, affordability, and durability. Most pieces of equipment used in industrial and mining applications use three-phase AC induction motors as their main power source. These motors use 70-80% of all the power used worldwide. Induction motors have relatively low power factors when there is no load. It becomes better at going from zero load to full load. Power factor correction can be implemented at the starter, switchboard, or distribution panel and is accomplished by adding capacitors in parallel with the related motor circuits.

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.