The hybrid capacitor market is anticipated to undergo substantial expansion, driven by the surge in adoption of radial type hybrid capacitors in automotive applications, compact size of hybrid capacitors which are conducive to high-density packaging, and promising opportunities emerging from the expanding renewable energy sector and enhanced vibration resistance.
WILMINGTON, Del., Jan. 24, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Hybrid Capacitor Market by Product Type (Radial Type and Laminating Type) and Application (Power Generation, Transmission, Distribution, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global hybrid capacitor market was valued at $29.96 million in 2022, and is projected to reach $51.08 million by 2032, registering a CAGR of 5.52% from 2023 to 2032.
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- 233- Pages
- 124 - Tables
- 46 - Charts
Prime determinants of growth
The hybrid capacitor market is expected to witness a notable growth owing to the increase in use of radial type hybrid capacitor in automotive application, compact size, and its suitability for high-density packaging. Moreover, growth in the renewable energy market and improved vibration resistance of hybrid capacitors are expected to provide lucrative opportunities for the expansion of the market during the forecast period. On the contrary, low energy density of hybrid capacitors limits the growth of the hybrid capacitor market.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $29.96 million |
Market Size in 2032 | $51.08 million |
CAGR | 5.52 % |
No. of Pages in Report | NA |
Segments covered | Product Type, Application, and Region. |
Drivers | Increase in use of radial type hybrid capacitor in automotive application Compact size and its suitability for high-density packaging |
Opportunities | Improved vibration resistance. Increase in renewable energy market |
Restraints | Low energy density |
COVID-19 Scenario
- The COVID-19 pandemic has impacted the hybrid capacitor market, causing disruptions in the supply chain and production processes.
- Fluctuating demand and economic uncertainties have influenced market dynamics. Despite challenges, the market is expected to recover gradually with the stabilization of global economic conditions.
The laminating type segment is expected to maintain its leadership status throughout the forecast period.
By product type, the laminating type segment held the highest market share in 2022, accounting for more than half of the global hybrid capacitor market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in consumer electronics sector for smartphones, laptops and others.
The power generation segment to maintain its leadership status throughout the forecast period.
By application, the power generation segment held the highest market share in 2022, accounting for more than one-third of the global hybrid capacitor market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the aluminum segment is projected to manifest the highest CAGR of 6.12% from 2023 to 2032 owing to an increase in installation of utilities.
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North America to maintain its dominance by 2032.
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global hybrid capacitor market revenue. Asia-Pacific region is expected to witness the fastest CAGR of 6.16% from 2023 to 2032, owing to continuous expansion of telecommunication networks, particularly the deployment of 5G technology.
Leading Market Players: -
- JTEKT Corporation
- TAIYO YUDEN CO., LTD.
- Vishay Intertechnology, Inc.
- LICAP Technologies, Inc.
- SOCOMEC GROUP
- EVE Energy Co., Ltd.
- SPEL TECHNOLOGIES PRIVATE LTD.
- Electro Standards Laboratories
- Yunasko
- KEMET Corporation
The report provides a detailed analysis of these key players of the global hybrid capacitor market. These players have adopted different strategies such as product development and product launch to increase their market share and maintain dominant shares in different regions. The report highlights business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Developments/ Strategies
- In May 2021, VINATech Co., Ltd. launched a new series of 3.8V lithium-ion capacitors. These capacitors have high operating voltage, low self-discharge, high capacitance, and wide operating temperature range.
- In June 2020, Kawasaki Heavy Industries, Ltd. ordered Blue Marlin, a high-density lithium-ion capacitor energy storage system from Corvus Energy. The Blue Marlin utilizes LIC technology with a very high charge and discharge rates of 220 C continuous and 550 C peak, making it efficient for high power load handling applications.
- In July 2023, Asahi Kasei initiates the licensing of design and manufacturing technology for lithium-ion capacitors as an advanced energy storage device.
Key Benefits for Stakeholders
- This hybrid capacitor market report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hybrid capacitor market analysis from 2022 to 2032 to identify the prevailing hybrid capacitor market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hybrid capacitor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global hybrid capacitor market overview.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hybrid capacitor market trends, key players, market segments, application areas, hybrid capacitor growth projections and market growth strategies.
Hybrid Capacitor Market Key Segments:
By Product Type:
- Radial Type
- Laminating Type
By Application:
- Power Generation
- Transmission
- Distribution
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe(Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
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