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Power and Utilities MLCC Market Size

The Power and Utilities MLCC Market is experiencing significant growth, driven by the increasing demand for electronic components in power generation, distribution, and utility management. The market's expansion is particularly notable in specific case sizes, which are crucial for addressing the unique challenges in the sector. Regional trends highlight robust growth opportunities, especially in Asia-Pacific, Europe, and North America, as these regions adapt to evolving energy landscapes and pursue renewable energy goals. The market's resilience and potential are further underscored by strategic initiatives in countries like India, the United States, and Saudi Arabia, where modernization and sustainability efforts are driving demand for MLCCs.

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Market Size of power and utilities mlcc Industry

Power and Utilities MLCC Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 0.68 Billion
svg icon Market Size (2029) USD 1.84 Billion
svg icon Largest Share by Case Size 1210
svg icon CAGR (2024 - 2029) 21.87 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Power and Utilities MLCC Market Analysis

The Power and Utilities MLCC Market size is estimated at 0.68 billion USD in 2024, and is expected to reach 1.84 billion USD by 2029, growing at a CAGR of 21.87% during the forecast period (2024-2029).

0.68 Billion

Market Size in 2024 (USD)

1.84 Billion

Market Size in 2029 (USD)

16.10 %

CAGR (2017-2023)

21.87 %

CAGR (2024-2029)

Fastest Segment by Case Size

19.97 %

Projected CAGR, 1812, 2024-2029

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The 1812 case MLCCs are growing due to an increased demand for power electronic devices like solar inverters, charge controllers, and monitoring equipment.

Largest Segment by Voltage

43.58 %

value share, More than 1100V, 2023

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The government initiatives toward reducing carbon footprints and rising investments in renewable energy infrastructure are increasing the demand for solar photovoltaic panels that use these MLCCs.

Fastest Segment by Capacitance

21.94 %

Projected CAGR, More than 100 μF, 2024-2029

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To combat the negative impacts of pollution on the environment, countries worldwide are enacting emission control rules, thus driving the demand for more than 100µF MLCCs used in smart meters.

Fastest Segment by Dielectric Type

25.70 %

Projected CAGR, Class 2, 2024-2029

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Class 2 dielectrics like X7R, Y5V, and X5R are increasing in demand due to their ability to withstand high temperatures and perform reliably in demanding applications.

Largest Segment by Region

46.47 %

value share, Asia-Pacific, 2023

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The development of industrialized and urbanized nations has led to an increase in the installation of renewable power plants in Asia Pacific due to the implementation of guidelines to reduce carbon emissions by countries, including India, Japan

Transformative trends in the power and utilities MLCC market with different case size dynamics are reshaping the energy landscape

  • The power and utilities MLCC market, segmented by case size, offers a comprehensive view of how these critical electronic components contribute to the evolving energy landscape. As of 2023, the market witnessed substantial growth, paralleling the increasing reliance on electronic systems in power generation, distribution, and utility management.
  • The adoption of specific case sizes reflects the strategic importance of MLCCs in addressing the unique challenges and opportunities in this sector. The market demonstrated remarkable resilience in the 1210 case size segment, achieving significant revenue of USD 132.06 million in 2022. Projections indicate robust growth potential, with an estimated revenue of USD 402.25 million by 2028, driven by a substantial CAGR of 20.65% from 2023 to 2028.
  • Meanwhile, the 1812 case size segment stands at the forefront of the power and utilities MLCC Market, reflecting the growing demand for clean energy solutions in Asia and Oceania. The segment is poised to experience a surge in demand as this region pursues ambitious renewable energy goals. In Europe, the 2 220 case size segment plays a pivotal role in supporting the continent's transition toward cleaner and more sustainable electricity generation. With clean power sources contributing to approximately 55% of Europe's electricity production, the region is actively reducing its reliance on coal.
  • Lastly, the 3640 and 4540 case size segments are witnessing notable shifts in North America and Asia, respectively, as these regions grapple with their energy landscapes. In North America, the adoption of 3 640 MLCCs reflects the changing dynamics of power generation, with a significant decline in coal-based electricity and an expansion in wind and solar sources.
Global Power and Utilities MLCC Market

The shifting landscape of the power and utilities MLCC market across regions

  • The power and utilities MLCC market, segmented by region, exhibits distinct trends and opportunities in Asia-Pacific, Europe, North America, and the Rest of the World. Asia-Pacific, home to thriving economies like China and India, is witnessing robust growth in power consumption and utility demand.
  • The Indian government's ambitious goal of installing 250 million smart meters by 2026 is driving significant demand for MLCCs, particularly in smart meter production. With its proactive efforts in modernizing its energy infrastructure, India presents a substantial growth opportunity for MLCC manufacturers.
  • The United States has made significant progress in the installation of smart electric meters, with over 100 million units already in use. MLCCs are integral in ensuring efficient energy management and are poised for further growth in this market. Canada's transition to energy-efficient street lighting systems also boosts MLCC demand, supporting energy conservation efforts.
  • Saudi Arabia's groundbreaking commitment to renewable energy, aiming to generate 50% of its electricity from renewables by 2030, presents a substantial opportunity for the Industrial MLCC Market. This move aligns with their target to reduce carbon emissions by 15% or 44 million tonnes by 2035. MLCCs, particularly high-capacity ones, are expected to play a pivotal role in supporting renewable energy projects and automation systems, further reinforcing the region's significance in the MLCC market.

Power and Utilities MLCC Industry Segmentation

1210, 1812, 2 220, 3 640, 4 540, Others are covered as segments by Case Size. 600V to 1100V, Less than 600V, More than 1100V are covered as segments by Voltage. 10 μF to 100 μF, Less than 10 μF, More than 100 μF are covered as segments by Capacitance. Class 1, Class 2 are covered as segments by Dielectric Type. Asia-Pacific, Europe, North America are covered as segments by Region.

  • The power and utilities MLCC market, segmented by case size, offers a comprehensive view of how these critical electronic components contribute to the evolving energy landscape. As of 2023, the market witnessed substantial growth, paralleling the increasing reliance on electronic systems in power generation, distribution, and utility management.
  • The adoption of specific case sizes reflects the strategic importance of MLCCs in addressing the unique challenges and opportunities in this sector. The market demonstrated remarkable resilience in the 1210 case size segment, achieving significant revenue of USD 132.06 million in 2022. Projections indicate robust growth potential, with an estimated revenue of USD 402.25 million by 2028, driven by a substantial CAGR of 20.65% from 2023 to 2028.
  • Meanwhile, the 1812 case size segment stands at the forefront of the power and utilities MLCC Market, reflecting the growing demand for clean energy solutions in Asia and Oceania. The segment is poised to experience a surge in demand as this region pursues ambitious renewable energy goals. In Europe, the 2 220 case size segment plays a pivotal role in supporting the continent's transition toward cleaner and more sustainable electricity generation. With clean power sources contributing to approximately 55% of Europe's electricity production, the region is actively reducing its reliance on coal.
  • Lastly, the 3640 and 4540 case size segments are witnessing notable shifts in North America and Asia, respectively, as these regions grapple with their energy landscapes. In North America, the adoption of 3 640 MLCCs reflects the changing dynamics of power generation, with a significant decline in coal-based electricity and an expansion in wind and solar sources.
Case Size
1210
1812
2 220
3 640
4 540
Others
Voltage
600V to 1100V
Less than 600V
More than 1100V
Capacitance
10 μF to 100 μF
Less than 10 μF
More than 100 μF
Dielectric Type
Class 1
Class 2
Region
Asia-Pacific
Europe
North America
Rest of the World
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Power and Utilities MLCC Market Size Summary

The Power and Utilities MLCC Market is experiencing significant growth, driven by the increasing integration of electronic systems in power generation, distribution, and utility management. This market is characterized by its segmentation by case size, which highlights the strategic importance of MLCCs in addressing sector-specific challenges and opportunities. The market's resilience is particularly evident in the 1210 case size segment, which has shown substantial revenue growth. The 1812 case size segment is at the forefront, reflecting the rising demand for clean energy solutions, especially in Asia and Oceania, as these regions pursue ambitious renewable energy goals. In Europe, the 220 case size segment is crucial in supporting the transition towards sustainable electricity generation. Meanwhile, the 3640 and 4540 case size segments are witnessing notable shifts in North America and Asia, respectively, as these regions adapt to changing energy landscapes.

Regionally, the Power and Utilities MLCC Market exhibits distinct trends and opportunities across Asia-Pacific, Europe, North America, and the Rest of the World. Asia-Pacific, with its rapidly growing economies like China and India, is seeing robust demand for MLCCs, particularly in smart meter production, driven by government initiatives. In North America, the United States and Canada are making strides in energy-efficient solutions, further boosting MLCC demand. Saudi Arabia's commitment to renewable energy presents a significant opportunity for MLCC manufacturers, aligning with its goals to reduce carbon emissions. The market is moderately consolidated, with major players like Kyocera AVX Components Corporation, Murata Manufacturing Co., Ltd, and Samsung Electro-Mechanics leading the way. These companies are continuously innovating to meet the growing demand for industrial equipment and advanced MLCC applications.

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Power and Utilities MLCC Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Case Size

      1. 1.1.1 1210

      2. 1.1.2 1812

      3. 1.1.3 2 220

      4. 1.1.4 3 640

      5. 1.1.5 4 540

      6. 1.1.6 Others

    2. 1.2 Voltage

      1. 1.2.1 600V to 1100V

      2. 1.2.2 Less than 600V

      3. 1.2.3 More than 1100V

    3. 1.3 Capacitance

      1. 1.3.1 10 μF to 100 μF

      2. 1.3.2 Less than 10 μF

      3. 1.3.3 More than 100 μF

    4. 1.4 Dielectric Type

      1. 1.4.1 Class 1

      2. 1.4.2 Class 2

    5. 1.5 Region

      1. 1.5.1 Asia-Pacific

      2. 1.5.2 Europe

      3. 1.5.3 North America

      4. 1.5.4 Rest of the World

Power and Utilities MLCC Market Size FAQs

The Global Power and Utilities MLCC Market size is expected to reach USD 683.35 million in 2024 and grow at a CAGR of 21.87% to reach USD 1.84 billion by 2029.

In 2024, the Global Power and Utilities MLCC Market size is expected to reach USD 683.35 million.

Power and Utilities MLCC Market Report Snapshots

Power and Utilities MLCC Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029