The automotive electric capacitors market is predicted to witness a CAGR of 6.62% during the forecast period to reach a total market size of US$4,289.531 million by 2024, increasing from US$2,919.956 million in 2018. Like all electronic products and systems, automotive systems make extensive use of capacitors and rising demand for cars using alternative propulsion technologies where operation and management of electrical current and circuits are becoming more important is leading towards the expanding role of capacitors. The utility for electric capacitors in the automotive industry will grow owing to the increasing demand for vehicles worldwide. Growing in-vehicle electronics coupled with rising demand for electric vehicles, budding need for infotainment devices in vehicles and rising need for better power and energy management in automotive units is expected to further snowball the demand for these capacitors in the automotive industry. Furthermore, the shift towards fully autonomous vehicles is anticipated to widen up the growth opportunities for automotive electric capacitors vendors and manufacturers during the forecast period. However, the cyclical nature of the automotive industry is expected to restrain the growth of the market in the coming years. Geographically, the Asia Pacific region is estimated to hold a significant share in the market due to the early adoption of technology in the automotive industry. Simultaneously, the market in North America and Europe is expected to witness good growth opportunities during the forecast period.
Growing in-vehicle electronics.
Rising production of electric vehicles.
Cyclical nature of the automotive industry
In November 2017, Murata Manufacturing Co., Ltd has introduced the GXT series of water repellent capacitors for automobile infotainment systems and comfort equipment.
Panasonic Corporation has commercialized ZS Series Conductive Polymer Hybrid Aluminum Electrolytic Capacitors in September 2018 with primary applications in hybrid electric vehicles and electric vehicles
The major players profiled in the automotive electric capacitor market are KEMET Corporation, TDK Corporation, Panasonic Corporation, and Nichicon Corporation among others.
The automotive electric capacitor market has been analyzed through the following segments:
Middle East and Africa