Aluminium Electrolytic Capacitor Market - Forecasts from 2023 to 2028

Aluminium Electrolytic Capacitor Market - Forecasts from 2023 to 2028

The global aluminum electrolytic capacitor market is anticipated to reach US$8,788.879 million by 2028 from US$6,159.013 million in 2020 with a CAGR of 4.54%.

Aluminum electrolytic capacitors are one of the most widely used electrolytic capacitors in which the anode electrode is made of pure aluminum foil and the capacitors have high volumetric capacitance. Electric vehicles are being seen as the future of vehicles and as a result, the electric vehicles market is witnessing significant growth, and as aluminum electrolytic capacitors are widely being used in electric vehicles, it is anticipated to propel the growth of the aluminum capacitor market during the forecast period. Also, as the miniaturization of electronic devices is on the rise, the demand for aluminum electrolytic capacitors has increased, which is projected to elevate the growth of the aluminum electrolytic capacitor market in the coming years. With the rising demand, various companies have been launching new and innovative products in the market which is further anticipated to contribute to market growth. For instance, in November 2020, TDK launched a series of high CV aluminum electrolytic capacitors which feature snap-in terminals to facilitate easy PCB mounting.

The recent outbreak of the novel coronavirus disease harmed the aluminum electrolytic capacitor market. Due to the lockdowns implemented in most parts of the world, the supply chain of the market was impacted. The factories were shut down and there was a shortage of workers even in places where there was no lockdown, which led to a decline in the aluminum electrolytic capacitor market in the year 2020. But the effect was short-term, and the market is anticipated to continue growing at its normal pace once the situation gets normal.

Rise of electric vehicles

Electrolytic capacitors are used in electric vehicles for high-density power delivery, and aluminum electrolytic capacitors are preferred due to their high efficiency. This is the reason why, with the rise in the usage of electric vehicles, the growth of the aluminum electrolytic market is anticipated to surge during the forecasting period. According to IEA, electric cars witnessed global sales of 2.1 million in 2019 and exceeded the sales of 2018 which were considered a record year. Also, electric cars witnessed a substantial year-on-year increase of 40%. The year 2020 saw an increase in electric car sales by 43% over 2019 despite the pandemic. Only 10 thousand electric cars were there on the road in 2010 which rose to more than 10 million in 2020. Many countries have been developing the charging infrastructure in their country at a substantial rate to provide an appropriate infrastructural environment for the rise in electric car sales. In the year 2019, the number of publicly accessible chargers rose by 60% which shows how the future is being seen in electric vehicles. Up to 2020, 17 countries had announced the target to achieve 100% zero-emission or the complete phasing out of internal combustion engines in 2020. Furthermore, owing to climate change concerns and to comply with sustainable development goals, governments of countries around the world have launched policies to replace traditional vehicles with electric vehicles. IEA also states that in the year 2020, the government spending on incentives for electric cars saw a year-on-year increase of 25% with governments around the world spending a total of USD 14 billion on direct purchase incentives and tax deductions for electric cars. With such a rapid increase in the growth of electric vehicles, the demand for an aluminum electrolytic capacitor is increasing for a highly efficient power delivery, which is anticipated to propel the growth of the aluminum electrolytic capacitors market during the forecast period.

Miniaturization of electronic devices

The size of electronic devices is getting smaller and smaller over the years, which is one of the prominent factors anticipated to propel the growth of aluminum electrolytic capacitors during the forecast period. There is increased demand for the miniaturization of electronic devices, such as mobile devices, medical devices, touch screens and displays, and other electronic devices. The manufacturers are eying for enhanced product sophistication, performance, and market penetration owing to which miniaturized electronic devices are being produced. The aluminum electrolytic capacitors are ideal to use in miniaturized electronic devices. In comparison to other electrolytic capacitance, aluminum capacitors provide a much higher level of capacitance for a given volume, which implies that high-value electrolytic capacitors can be relatively small. Due to this, with the increase in the miniaturization of electronic devices, the demand for aluminum electrolytic capacitors is increasing and is anticipated to surge the growth of the aluminum electrolytic market during the forecast period.

Asia Pacific dominates the market share

Geographically, the Asia Pacific region is anticipated to hold a significant market share and is projected to witness substantial growth owing to the presence of large-scale manufacturers of electronic devices in the region such as China, Hong Kong, and South Korea, among others, and the rise in manufacturing. North America is also anticipated to witness considerable market growth owing to the growing investments in power and energy.

Competitive Insights

Prominent/major key market players in the aluminum electrolytic capacitor market include Murata Manufacturing Co., Ltd., Cornell Dubilier, and KEMET Corporation, among others. The players in the aluminum electrolytic capacitor market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the aluminum electrolytic capacitor market.Market Segmentation:

By Type

Solid
Non-Solid

By Configuration

Radial Leaded Aluminum Capacitor
Vertical Chip Capacitor (V-Chip)
Horizontal Chip Capacitor (H-Chip)
Screw Terminal (Large Can)
Snap-In/Snap-Mount Aluminum Capacitor

By Voltage

High voltage
Low voltage

By Industry Vertical

Communication and Technology
Energy and Power
Consumer electronics
Automotive
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
UK
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Others