A recent report published by Infinium Global Research on capacitors for power converters market provides in-depth analysis of segments and sub-segments in the global as well as regional capacitors for power converters market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional capacitors for power converters market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global capacitors for power converters market.
Capacitors are essential components in power converters—devices that convert electrical energy from one form to another (e.g., AC to DC, DC to AC, or voltage conversion). These capacitors help in filtering, energy storage, voltage smoothing, and power factor correction, which are critical for the reliable operation of power converters. The demand for capacitors in the power converter market is primarily driven by the growing adoption of electric vehicles (EVs), renewable energy systems, and the increasing need for energy-efficient power electronics across industries. As EVs and charging infrastructure expand, capacitors play a critical role in power conversion, ensuring stable voltage and efficient energy storage. Similarly, the shift towards solar and wind energy systems requires capacitors for inverters, which are essential for converting and stabilizing power from these renewable sources. Additionally, advancements in industrial automation and the growing use of high-frequency power converters for applications like data centers and telecommunications are further boosting demand. The ongoing push for miniaturization, higher power density, and increased efficiency in power electronics also supports the rising need for reliable and high-performance capacitors in power conversion systems.
Key leading players in capacitors for power converters are Panasonic Corporation, Murata Manufacturing Co., Ltd., TDK Corporation, Vishay Intertechnology, Inc., Kemet Corporation, and others, which are investing heavily in research and development, strategic partnerships, and geographical expansion to increase market share and improve their product and service offerings. However, these companies are facing challenges such as complexity in customization for specific applications, environmental and regulatory compliance, and supply chain and raw material constraints. Companies can overcome these challenges by implementing strategies such as developing modular capacitor solutions that can be adapted to different applications by adjusting parameters such as voltage, capacitance, and size; focusing on creating lead-free and RoHS-compliant capacitors to meet regulatory standards and cater to environmentally conscious customers; and incorporating more sustainable practices by using recycled materials to reduce raw material dependence and lower costs.
The capacitor for the power converter market is experiencing significant growth due to the growing demand for renewable energy solutions. This demand is driven by global efforts to reduce carbon emissions and transition towards sustainable energy sources. As governments and organizations invest in renewable energy technologies, the need for efficient power electronics becomes critical. Capacitors play a vital role in energy conversion and storage systems, enhancing the performance and reliability of renewable energy sources. As more countries set ambitious targets for renewable energy adoption, the capacitor market is expected to expand. Moreover, growth in Electric Vehicles and Charging Stations is fostering demand for capacitors for the power converter market. The rise in electric vehicle (EV) adoption is driving the demand for advanced power converters, including capacitors. Capacitors are crucial in energy storage and management systems, enhancing vehicle performance. Governments' strict emissions regulations and promotion of electric mobility are expected to boost the capacitor market. The government is also investing in electric vehicle charging infrastructure development, which boosts EV sales. This shift highlights the importance of capacitors in modern transportation solutions and their role in supporting infrastructure for widespread EV adoption.
However, the increasing complexity of power converter design is expected to hamper market growth. As power converter designs become more advanced, driven by the need for higher efficiency, compact size, and integration with technologies like electric vehicles, renewable energy systems, and smart grids, the demand for more sophisticated capacitors increases. These complex designs often require capacitors that can handle higher voltages, faster switching frequencies, and extreme temperature conditions, while maintaining long-term reliability and compact form factors. Meeting these technical requirements typically involves using advanced materials, precision manufacturing, and tighter quality control, all of which can significantly raise production costs. As a result, the growing complexity of power converters directly contributes to higher costs for capacitors, potentially impacting the overall affordability and scalability of modern power electronic systems. Furthermore, innovation in smart capacitors can create market growth opportunities during the forecast period. The smart capacitor is a self-healing low-voltage power capacitor with an intelligent measurement and control processor. It integrates sensing, network, and electrical technology, offering simplified operation, intuitive interface, and functions like automatic cyclic throwing. Its decentralized control and real-time throwing improve system stability, reduce equipment loss, and enhance energy savings and environmental protection. Smart capacitors in power converters align with energy efficiency, sustainability, and smart systems in renewable energy, automotive, and power electronics industries, driving market growth and innovation.
North America is anticipated to dominate the capacitors for power converters market during the forecast period. The rapid growth of renewable energy sources like wind and solar power necessitates advanced power management systems, thereby increasing the need for sophisticated power converter devices. The increasing use of electric vehicles also necessitates advanced power conversion and control systems, and the growing investments in smart grid systems and energy storage technologies further bolster the need for capacitor power converters. Meanwhile, Europe is the fastest-growing region among all regions in the market. The region's deep dedication to sustainability and renewable energy sources has created a demand for effective power conversion and management systems. Power converters play an essential role in incorporating renewable energy into the grid, controlling energy storage systems, and improving the efficiency of electric vehicles, all of which are vital to Europe's green energy efforts. Furthermore, the growth of smart grids and the growing acceptance of electric vehicles intensify the need for advanced power electronics.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 5.43 Billion |
| Market Size by 2032 | USD 8.94 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 5.90% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Capacitor Type, By Voltage Range, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global capacitors for power converters market provides a detailed analysis of segments in the market based on Capacitor Type, Voltage Range, and Application.
· Aluminum Electrolytic Capacitors
· Film Capacitors
· Ceramic Capacitors
· Tantalum Capacitors
· Supercapacitors
· Low Voltage (<100V)
· Medium Voltage (100–1,000V)
· High Voltage (>1,000V)
· Renewable Energy Systems
· Electric Vehicles (EVs) and Charging Infrastructure
· Industrial Power Supplies
· Consumer Electronics
· Telecommunications
· Data Centers and UPS Systems
· Railway Traction Systems
· Panasonic Corporation
· Murata Manufacturing Co., Ltd.
· TDK Corporation
· Vishay Intertechnology, Inc.
· Kemet Corporation
· Nichicon Corporation
· Rubycon Corporation
· Elna Co., Ltd.
· Samsung Electro-Mechanics
· Lelon Electronics Corp.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the capacitors for power converters market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.