Impetus Behind Power Capacitor Market Coming from Widespread EV Uptake
10 May 2023
Vehicle electrification is driving growth in the capacitor market for power converters, according to studies just published by Yole Group.
A compound annual growth rate (CAGR) of 5.9% between now and 2028 is expected, resulting in a total annual worth of $7 billion being reached by the end of this period. The share of the capacitor market coming from electric vehicle (EV) demands will increase by 29% in 2022 to 44% over that time.
As Dr Shalu Agarwal, Senior Analyst for Power Electronics and Materials at Yole, explains; “Film capacitors show the most significant growth, representing a market of around $3.9 billion in 2022. Electrolytic capacitors and MLCC s are mainly used for low- to medium-voltage ranges and will grow with 2022-2028 CAGRs of 5.7% and 5.1%, respectively.”
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