Global Hybrid Capacitor Market Size, Share & Trends Analysis Report By Product (Laminating Type, and Radial Type), By Application (Power Generation, Transmission, Distribution, and Others), By Regional Outlook and Forecast, 2023 - 2030
The Global Hybrid Capacitor Market size is expected to reach $39.6 million by 2030, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,495.61 Hundred Units experiencing a growth of 4.9% (2019-2022).
The Asia Pacific region’s urban population is growing rapidly, leading to increased demand for electricity in urban areas. These capacitors store and deliver energy efficiently in urban infrastructure, such as smart buildings and transportation systems. Consequently, the Asia Pacific region would acquire nearly 30% of the total market share by 2030. Additionally, an electrified public transportation system and a shift toward electric vehicles (EVs) are occurring in the region, increasing the demand for these capacitors to store energy and power these vehicles.
Numerous variables are contributing to the escalating demand for energy storage solutions. The increasing demand for energy storage solutions, driven by the global transition toward renewable energy sources and supportive government policies, is expected to impact the demand for these capacitors positively. Additionally, Advancements in manufacturing processes have played a significant role in improving the capacitors' performance, efficiency, and cost-effectiveness. Furthermore, advancements in electrolyte formulation and processing have contributed to the improved performance of these capacitors. Therefore, these developments will aid the market's growth in the coming years.
However, High costs increase the reluctance of consumers and manufacturers to invest in novel technologies. The initial capital outlay required for purchasing these capacitors can be prohibitive for some businesses, especially smaller enterprises or those operating on tight budgets. Thus, the high cost of these capacitors poses a significant challenge to their widespread adoption and market growth.
By Product Analysis
Based on product, the market is characterized into radial type and laminating type. The radial type segment procured 43% market share in the market in 2022. Radial capacitors can store much energy relative to their size. This makes them suitable for applications that require high energy density, such as electric vehicles, renewable energy systems, and power backup systems.
By Application Analysis
On the basis of application, the market is classified into power generation, transmission, distribution, and others. The transmission segment recorded a 30% revenue share in the market in 2022. Urban areas and industrial zones require large amounts of electricity to support infrastructure, manufacturing, and residential needs. This drives the need for expansion and improvement of power transmission infrastructure.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 30% revenue share in the market in 2022. The demand for these capacitors in North America is driven by the region's focus on renewable energy, electrification of transportation, smart grid development, industrial automation, telecommunications infrastructure, military and aerospace applications, and consumer electronics.
List of Key Companies Profiled
- TAIYO YUDEN CO., LTD.
- SPEL TECHNOLOGIES PRIVATE LIMITED
- Vishay Intertechnology, Inc.
- Yunasko Ltd
- Kemet Corporation
- JTEKT Corporation
- CAP-XX Ltd
- Murata Manufacturing Co., Ltd.
- Quantic Electronics (Arcline Investment Management LP)
Global Hybrid Capacitor Market Report Segmentation
By Product (Volume, Hundred Units, USD Million, 2019-2030)
- Laminating Type
- Radial Type
By Application (Volume, Hundred Units, USD Million, 2019-2030)
- Power Generation
- Transmission
- Distribution
- Others
By Geography (Volume, Hundred Units, USD Million, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA