Dublin, Aug. 05, 2021 (GLOBE NEWSWIRE) -- The "Aluminum Electrolytic Capacitor Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The aluminum electrolytic capacitor market is evaluated at US$6,379.323 million for the year 2019 and is projected to grow at a CAGR of 1.56% to reach the market size of US$7,111.326 million by the year 2026.
Aluminum electrolytic capacitors are one of the most widely used electrolytic capacitors in which 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 the 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.
The electrolytic capacitors are used in electric vehicles for high-density power delivery, and the 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 was 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 for 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 2020. Furthermore, owing to climate change concerns and to comply with the 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 miniaturization of electronic devices, such as mobile devices, medical devices, touch screens and displays, and other electronic devices. The manufacturers are eying for an 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, the 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 to dominate 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, 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.
Prominent/major key market players in the aluminum electrolytic capacitor market include Murata Manufacturing Co., Ltd., Cornell Dubilier, 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.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Aluminum Electrolytic Capacitor Market Analysis, by Type
5.2. Solid aluminum electrolytic capacitors
5.3. Non-solid aluminum electrolytic capacitors
6. Aluminum Electrolytic Capacitor Market Analysis, by Voltage
6.2. High voltage
6.3. Low voltage
7. Aluminum Electrolytic Capacitor Market Analysis, by Industry Vertical
7.2. Communication and technology
7.3. Energy and power
7.4. Consumer electronics
8. Aluminum Electrolytic Capacitor Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Murata Manufacturing Co., Ltd.
10.2. Cornell Dubilier
10.3. KEMET Corporation
10.4. Vishay Intertechnology
10.5. TDK Corporation
10.6. Wurth Elektronik GmbH & Co., KG
10.7. Panasonic Corporation
10.8. Nichicon Corporation
10.9. Vicor Corporation
10.10. Illinois Capacitor, Inc.
10.11. Nippon Chemi-Con Corporation
For more information about this report visit https://www.researchandmarkets.com/r/xgbdo8
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900