New York, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The global multilayer ceramic capacitor (MLCC) market size is poised to grow at a CAGR of over 14% from 2023 to 2035. The market is anticipated to garner a revenue of USD 76 billion by the end of 2035, up from a revenue of USD 14 billion in the year 2022. With the development of IT devices, the need for a multi-layer ceramic capacitor (MLCC), is rising significantly. The market will expand as a result of the development of technologies like IoT, cloud computing, and AI. In 2017, 20% of respondents said they had adopted AI in at least one business area; today, that number is 50%, while it reached a high of 58 percent in 2019.
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Additionally, with the potential for miniaturization, the makers are attempting to fit more circuits and components into the limited area at their disposal. Other capacitors have not been able to match the special qualities of MLCC, hence MLCC will play a significant role in the development of the new computing technology that is now being developed. 85% of businesses will begin using the cloud first by 2025. Cloud storage is used for more than 60% of all corporate data. Nearly 50% of businesses have adopted cloud computing completely. Multilayer ceramic capacitors, often referred to as MLCCs, are passive electronic components used for storing and releasing electrical energy.
Multilayer Ceramic Capacitor (MLCC) Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The COG Class I dielectric segment to garner the highest growth
- Market in Europe to grow at a highest rate
Increasing Demand for the Automotive Industry across the Globe to Boost Market Growth
One of the biggest end consumers of MLCCs is the automotive sector. The adoption of automotive-grade MLCCs in recent years is anticipated to drive the growth of the total multilayer ceramic capacitor (MLCC) market. Additionally, MLCCs are fundamentally necessary for autonomous vehicles, hybrid vehicles, plug-in hybrid vehicles, and improved driver support systems utilized in automobiles. Battery electric vehicles are projected to use more than ~10,000 MLCCs. Battery electric vehicle manufacturer TESLA’s Model 3 car has over 9,000 MLCCs, and its Model S and X have over 10,000 MLCCs each. When a multilayer ceramic capacitor is connected to an electronic device, such as a TV or radio, the risk of failure due to dielectric breakdown can be reduced regardless of the surge or pulse voltage created within the device. Because of this, MLCC is very resistant to aberrant voltages, which fuels the market's expansion. With more than 15,445 radio stations and a weekly reach of 82.5% among adults, radio is one of the most effective media in the US. 46% of listeners said they thought about making a purchase after hearing a radio advertisement. Live radio accounts for 78.8% of daily audio listening, with young adults making up 53.2%.
Multilayer Ceramic Capacitor (MLCC) Industry: Regional Overview
The global multilayer ceramic capacitor (MLCC) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Booming Consumer Electronics Industry to Drive the Market Growth in Asia Pacific Region
The multilayer ceramic capacitor (MLCC) market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The Asia Pacific region is at the forefront of the global market, experiencing substantial growth driven by a range of compelling factors. The surge in demand for consumer electronics, including smartphones, laptops, wearables, and smart appliances, is a pivotal driver of the Asia Pacific MLCC market. MLCCs are integral components in these devices, facilitating miniaturization and enhancing performance. As consumer electronics continue to evolve, MLCCs are set to experience robust growth, driven by their essential role in these products. The Asia Pacific consumer electronics industry is forecasted to reach USD 650 billion by 2026. The automotive industry in the Asia Pacific region is undergoing a remarkable transformation. Electric vehicles (EVs), advanced driver-assistance systems (ADAS), and smart infotainment systems all rely on MLCCs for critical functions. With the Asia Pacific region being a hub for automotive manufacturing, the demand for MLCCs is poised to grow significantly in tandem with the evolution of automotive electronics.
5G Network Deployment to Propel the Growth in the North America Region
The North America multilayer ceramic capacitor (MLCC) market is estimated to garner the highest CAGR by the end of 2035. The rapid deployment of 5G networks and the expansion of telecommunications infrastructure are pivotal drivers of the North American MLCC market. These advanced networks require MLCCs for their high-frequency applications in base stations, small cells, and other critical components. As the 5G revolution continues to unfold, the demand for MLCCs is set to surge in the region. North America is witnessing rapid adoption of industrial automation and the Internet of Things (IoT). MLCCs are instrumental in these domains, serving as essential components for controlling processes and managing power in industrial automation. They are also vital for signal conditioning and power management in IoT devices. As industries embrace these transformative technologies, the demand for MLCCs is expected to soar. The North American IoT industry is projected to reach at USD 214 billion by 2028. The renewable energy sector, encompassing solar and wind power systems, relies on MLCCs for efficient power conversion and control. The growing emphasis on clean energy solutions positions MLCCs as integral components in the energy transition.
Multilayer Ceramic Capacitor (MLCC) Segmentation by Dielectric Type
- Class I
- NPO
- C0G
- P100
- N33
- N75
- Class II
- X7R
- X5R
- Y5V
- Z5U
- X7S
Amongst these segments, the multilayer ceramic capacitor (MLCC) market COG Class I dielectric segment is anticipated to hold the largest share over the forecast period. COGs do not need special reflow profiles for surface installation, unlike film capacitors. For a given capacitance inside of a particular case size, COG MLCCs frequently offer higher voltage ratings. These devices are perfect for resonant circuit applications and capacitance stability due to their exceptionally low equivalent series resistance and outstanding self-resonance characteristics. Inverters, power supplies, smartphones, laptops, chargers and adapters, UPS, smart meters, smart homes, remote power management, and other applications are among the many for which COG is perfect. 300 million smart homes are thought to exist worldwide. In 2023, there will be 60.4 million U.S. households that actively employ smart home technology. Owners of smart home electronics in America spend, on average, USD 1,172 on these appliances.
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Multilayer Ceramic Capacitor (MLCC) Segmentation by End User Industry
- Electronics
- Automotive
- Industrial
- Telecommunication
Amongst these segments, the multilayer ceramic capacitor (MLCC) market automotive segment is anticipated to hold a significant share over the forecast period. The transition to electric vehicles (EVs) is a significant driver of growth in the automotive industry. Automakers worldwide are investing heavily in EV technology, aiming to meet stricter emissions regulations and cater to the growing demand for clean and sustainable transportation. EVs offer reduced emissions, lower operating costs, and advanced technology, making them a focal point for future industry growth. The global electric vehicle (EV) industry is projected to reach USD 802.81 billion by 2028. The integration of ADAS, which includes features like adaptive cruise control, lane-keeping assistance, and automated emergency braking, is a driving force in the automotive sector. Consumers are increasingly valuing safety and convenience, prompting automakers to incorporate ADAS into their vehicles. The growth of ADAS technology is enhancing vehicle safety and setting the stage for autonomous vehicles. The development of autonomous vehicles, or self-driving cars, is another pivotal driver of automotive industry growth. Companies like Tesla, Waymo, and traditional automakers are investing in autonomous technology. Self-driving vehicles promise increased safety, reduced traffic congestion, and enhanced mobility, all of which will reshape the automotive landscape.
Multilayer Ceramic Capacitor (MLCC) Segmentation by Rated Voltage Range
- Low Range
- Mid-Range
- High Range
Multilayer Ceramic Capacitor (MLCC) Segmentation by Type
- General Capacitor
- Array
- Serial Construction
- Mega Cap
Few of the well-known market leaders in the global multilayer ceramic capacitor (MLCC) market that are profiled by Research Nester are Yageo Corporation, EYANG Technology, API Technology Corp., KEMET Corporation, Drafon Electronics Corp., NIC Components, Samwha Capacitor Group, Fujian Torch Electron Technology, Elektronik Group, and other key market players.
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Recent Development in Multilayer Ceramic Capacitor (MLCC) Market
- Samsung Electro-Mechanics Co. unveiled a multilayer ceramic capacitor for the automotive powertrain that can run smoothly under the high temperature of 150 degrees Celsius. The Korean electronic component company will supply 13 new MLCCs for the automotive powertrain to its clients around the world.
- Yageo Corporation increased its 01005-commercial high-frequency grade MLCC product range and capacity for X7R, X5R and NPO to fulfil the need to miniaturize components in end-user electronic products.
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