Aluminum Electrolytic Capacitor Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.30 Billion |
| Market Size (2029) | USD 5.19 Billion |
| CAGR (2024 - 2029) | 3.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aluminum Electrolytic Capacitor Market Analysis
The Aluminum Electrolytic Capacitor Market size is estimated at USD 4.30 billion in 2024, and is expected to reach USD 5.19 billion by 2029, growing at a CAGR of 3.85% during the forecast period (2024-2029).
The aluminum electrolytic capacitor market will expand during the forecast period, propelled by their reliability and stability in applications like power supplies and computer motherboards. These capacitors are extensively used across commercial, industrial, and automotive sectors due to their resilience to extreme temperatures.
- Key drivers for the rising demand for aluminum electrolytic capacitors in the automobile industry include the growing adoption of electric vehicles (EV), advancements in autonomous car technology, government policies promoting Advanced Driver Assistance Systems, and the increasing integration of smart technologies in automobile manufacturing. With a pure aluminum foil anode electrode and notable volumetric capacitance, aluminum electrolytic capacitors stand out as one of the most commonly utilized electrolytic capacitors. They are crucial in many electronic devices, smoothing and buffering rectified DC voltages in power supplies and DC-DC converters.
- The electronics industry is experiencing heightened demand for devices like smartphones, tablets, laptops, smart wearables, and IoT gadgets. These devices rely on aluminum electrolytic capacitors for power supply filtering, voltage regulation, signal conditioning, and energy storage. The growing consumer base and the regular introduction of new electronic devices fuel the demand for these capacitors.
- Furthermore, the growing emphasis on advanced network infrastructures, particularly 5G networks, drives the demand for aluminum electrolytic capacitors in telecommunications. These capacitors are crucial for telecom equipment, helping stabilize voltage levels and filter out noise, ensuring smooth operations of communication networks. For instance, the Nichicon UYA Chip-Type Aluminum Electrolytic Capacitors' long lifespan and high-temperature resistance are suited for 5G base stations. As telecom companies invest in expanding and upgrading their networks for better data speeds and connectivity, the appetite for aluminum electrolytic capacitors continues to surge.
- Technological advancements are driving growth in the studied market. For example, a newly developed glass-to-aluminum sealing is poised to broaden the application of these capacitors in crucial sectors like aerospace and defense. Additionally, a new series of automotive-grade aluminum electrolytic capacitors now ensure resistance to vibrations. Manufacturers endorse hybrid aluminum capacitors for their extended lifespan and stable parameters, making them ideal for various automotive and industrial applications.
- While technological advancements drive the demand for capacitors, they pose challenges for manufacturers. Evolving industry needs, like miniaturization, increased capacitance density, enhanced reliability, and superior performance, demand corresponding advancements in capacitor technologies. Manufacturers are compelled to invest in R&D to stay competitive and foster innovation, a process that can be resource intensive.
Aluminum Electrolytic Capacitor Market Trends
Growth of the Automotive Segment is Positively Impacting the Market
- Rising passenger car sales have significantly boosted the demand for aluminum electrolytic capacitors due to their high heat resistance, ripple current handling, and capacitance. These capacitors are especially suited for brushless DC motor control units, including electric power steering (EPS), engine cooling fans, and fuel injection control units. In 2023, major international passenger car markets experienced a notable increase in new registrations. This surge is mainly due to improved vehicle availability over the previous year, which has positively impacted car sales. According to the OICA, global automobile sales reached 92 million units in 2023.
- As per the German Association of the Automotive Industry, the European car market, encompassing the EU, EFTA, and the United Kingdom, recorded 12.8 million new vehicle registrations in 2023, a 14% rise from the prior year. Recently, key European markets like France, Spain, the United Kingdom, and Italy showcased growth, while Germany saw a dip in new registrations.
- Similar trends have been observed across other regions, such as Asia-Pacific, where countries like India, Japan, China, and South Korea are among the major automotive markets. Electrification is a prominent trend in the region, with Chinese forms such as BYD emerging as the leading EV manufacturer, surpassing Tesla. Hence, such trends create a favorable ecosystem for the market's growth.
- Focusing on applications, the automotive segment stands out. Aluminum electrolytic capacitors are crucial in convenience systems such as air conditioning and automatic window motors. They are also integral to safety systems like power steering and airbags. Additionally, these capacitors are vital in engine control units (ECUs) for functions ranging from battery management to fuel pumps. These applications underscore the growing prominence of aluminum electrolytic capacitors in the automotive sector.
North America is Expected to Hold a Significant Share in the Market
- North America has a diverse industrial landscape encompassing automation, robotics, machinery, energy, and manufacturing sectors. Aluminum electrolytic capacitors are pivotal in industrial applications, powering motor drives, power electronics, inverters, and control systems. The demand for these capacitors increases as industrial automation, renewable energy installations, and infrastructure development flourish in the United States.
- As reported by the IFR, manufacturing firms in the United States are increasingly leaning toward automation. In 2023, installations of industrial robots surged by 12%, totaling 44,303 units. The automotive sector is the primary adopter, trailed by the electrical and electronics domain. Notably, automotive sales saw a 1% increase, with 14,678 robots installed in 2023. This follows a remarkable 47% jump in 2022, culminating in 14,472 units. In 2023, car and component manufacturers accounted for 33% of all industrial robot installations across the United States.
- Aluminum electrolytic capacitors have a broad application in the industrial sector, such as motors, and the sector's established footprint in North America favors the market's growth. Furthermore, these capacitors, valued for their high capacitance and cost-effectiveness, are essential for energy storage, filtering, and decoupling in power supply circuits, thereby driving their adoption.
- Moreover, the United States has a robust aerospace and defense sector. Aluminum electrolytic capacitors are integral to applications spanning avionics, satellite systems, communication networks, and defense electronics. The ongoing upgrades in military capabilities, defense modernization efforts, and ambitious space exploration projects further fuel this demand.
- Additionally, the United States is one of the automotive giants. The rising embrace of electric and hybrid vehicles, coupled with advanced driver assistance systems (ADAS), is propelling the demand for aluminum electrolytic capacitors. This surge is further amplified by the growing network of EV charging stations and outlets.
- Data from the US Department of Energy highlights the nation's commitment to electric vehicles, with over 138,100 charging points as of May 2023. California alone contributes significantly, with nearly 44,600 public and private charging outlets. These developments underscore the promising trajectory of aluminum electrolytic capacitors in the North American market.
Aluminum Electrolytic Capacitor Industry Overview
However, the aluminum electrolytic capacitor market is fragmented and is witnessing significant growth in competition, driven by several major vendors commanding substantial market shares and boasting robust distribution networks while new players continue to expand their presence. To bolster their market presence and extend their reach, leading players in this arena actively pursue mergers and acquisitions and forge strategic partnerships. These strategic moves are essential for maintaining a competitive edge and ensuring long-term growth in a rapidly evolving market. Key players in this domain encompass TDK Corporation, Panasonic Corporation, Kyocera AVX Components Corporation, AIC Tech Inc., and Murata Manufacturing Co. Ltd.
According to HuanYu Future Technologies, military reliability assessments increasingly favor tantalum and aluminum electrolytic capacitors. Aluminum's widespread availability in China and its cost-effectiveness for large-scale production underscores its dominance. Beyond availability, aluminum's lightweight nature and self-healing properties further cement its preference for electrolytic capacitors.
Moreover, as electric vehicles and advanced driver-assistance systems gain traction, the demand for aluminum electrolytic capacitors from the automotive sector is expected to increase. These capacitors play pivotal roles in drive-train systems and regenerative braking, where their high voltage ratings and substantial capacitance are important. Hence, vendors in the market should focus on developing products that are in line with the evolving market trends to compete in this competitive market space.
Aluminum Electrolytic Capacitor Market Leaders
-
TDK Corporation
-
Panasonic Corporation
-
Kyocera AVX Components Corporation
-
Murata Manufacturing Co. Ltd,
-
Vishay Intertechnology, Inc
*Disclaimer: Major Players sorted in no particular order
Aluminum Electrolytic Capacitor Market News
- April 2024: Kyocera AVX unveiled its latest offerings: the SNA Series and SNL Series of snap-in aluminum electrolytic capacitors. Both the SNA and SNL Series promise high reliability, high voltage, and impressive CV performance, ensuring longevity. Furthermore, these series are lead-free compatible and RoHS compliant and have a temperature rating from -25°C to +105°C. This makes them perfect for various commercial and industrial applications, such as frequency converters, solar inverters, power inverters, energy storage systems, and power supplies.
- February 2024: Panasonic Industry Co. Ltd started the commercial production of its ZL series conductive polymer hybrid aluminum electrolytic capacitors. Notably, this series has the industry's pioneering high-capacitance models, confidently operating at a temperature of 135°C. Tailored for electronic control units (ECUs) in electric vehicles (commonly termed xEVs, encompassing all EV subtypes), these capacitors were expected to enter mass production in February 2024.
Aluminum Electrolytic Capacitor Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of Macro Economic trends on the market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Automotive Manufacturing and Rising Popularity of EVs
5.1.2 Rising Automation and Growing Electrification
5.2 Market Restraints
5.2.1 Regulatory Hurdles Especially in Regions with Stringent Compliance Requirements
6. MARKET SEGMENTATION
6.1 By Voltage
6.1.1 High Voltage
6.1.2 Low Voltage
6.2 End User
6.2.1 Industrial
6.2.2 Telecommunications
6.2.3 Consumer Electronics
6.2.4 Automotive
6.2.5 Energy and Power
6.2.6 Other End Users
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 TDK Corporation
7.1.2 Panasonic Corporation
7.1.3 Kyocera AVX Components Corporation
7.1.4 AIC tech Inc.
7.1.5 Murata Manufacturing Co. Ltd
7.1.6 Vishay Intertechnology Inc.
7.1.7 Nippon Chemi-Con Corporation
7.1.8 Exxelia Group
7.1.9 Premier Farnell Limited
7.1.10 TTI Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Aluminum Electrolytic Capacitor Industry Segmentation
Electrolytic capacitors utilize an oxide film, typically made from aluminum, tantalum, or other oxidizable metals, as dielectric. Due to their capability for high capacitance, these capacitors find extensive use in power supply circuits and related applications. This study delves into the global market dynamics of aluminum electrolytic capacitors, focusing on revenue generation by various market players. Key market parameters, growth influencers, and leading vendors are tracked to bolster market estimations and growth rates during the forecast period. Additionally, the analysis considers the overarching influence of macroeconomic factors on the ecosystem.
The aluminum electrolytic capacitor market is segmented by voltage (high voltage and low voltage), by end user (industrial, telecommunications, consumer electronics, automotive, energy and power, and other end users), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Voltage | |
| High Voltage | |
| Low Voltage |
| End User | |
| Industrial | |
| Telecommunications | |
| Consumer Electronics | |
| Automotive | |
| Energy and Power | |
| Other End Users |
| By Geography | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Aluminum Electrolytic Capacitor Market Research FAQs
How big is the Aluminum Electrolytic Capacitor Market?
The Aluminum Electrolytic Capacitor Market size is expected to reach USD 4.30 billion in 2024 and grow at a CAGR of 3.85% to reach USD 5.19 billion by 2029.
What is the current Aluminum Electrolytic Capacitor Market size?
In 2024, the Aluminum Electrolytic Capacitor Market size is expected to reach USD 4.30 billion.
Who are the key players in Aluminum Electrolytic Capacitor Market?
TDK Corporation, Panasonic Corporation, Kyocera AVX Components Corporation, Murata Manufacturing Co. Ltd, and Vishay Intertechnology, Inc are the major companies operating in the Aluminum Electrolytic Capacitor Market.
Which is the fastest growing region in Aluminum Electrolytic Capacitor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aluminum Electrolytic Capacitor Market?
In 2024, the North America accounts for the largest market share in Aluminum Electrolytic Capacitor Market.
What years does this Aluminum Electrolytic Capacitor Market cover, and what was the market size in 2023?
In 2023, the Aluminum Electrolytic Capacitor Market size was estimated at USD 4.13 billion. The report covers the Aluminum Electrolytic Capacitor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aluminum Electrolytic Capacitor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aluminum Electrolytic Capacitor Industry Report
Statistics for the 2024 Aluminum Electrolytic Capacitor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aluminum Electrolytic Capacitor analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
