Multilayer ceramic capacitor market has been significantly growing with the higher adoption of these multilayer ceramic capacitors in various industries.
The major factor driving the multilayer ceramic capacitor market growth is growing demand from the automotive industry due to advent of electric vehicles. In addition, an increasing demand form the telecommunications industry and rising use of multilayer ceramic capacitors in smartphones, smart wearables, and various other electronic devices is driving the market growth. Further, players operating in the market are focusing on extending the product range and serve the growing range of applications. The automotive segment is expected to held the significant share of the market during the forecast period. Further, other segments such as electronics and healthcare are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into class 1 and class 2. On the basis of application, the market is segmented into electronics, automotive, healthcare, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Multilayer ceramic capacitors are used in products such as game PCs, video cameras, mobile phones, and others. The consumer electronics industry is growing in various countries across the globe, which is fuelling the multilayer ceramic capacitors market growth. In countries such as India, China, and others, there is a rising demand for different consumer electronics products. Factors contributing to the growing demand for different consumer electronics products are growing disposable income of people, emerging middle class, etc.
Growing demand from the automotive industry
The automotive industry is one of the major users of multilayer ceramic capacitors. Multilayer ceramic capacitors are an important component for the proper and stable operation of the various electrical and electronic circuits utilized in cars. Automotive-grade multilayer ceramic capacitors have gained popularity in recent years, which is fueling the market growth. The growing use of electronic devices in automobiles, such as engines and powertrains is creating the demand for multilayer ceramic capacitors. The growth in self-driving systems and electric vehicles has led to the advancement of electrification in recent years. With this, the number of multilayer ceramic capacitors installed in one automobile has been rapidly increasing.
Recent strategic developments in multilayer ceramic capacitor market
The multilayer ceramic capacitor market has undergone several significant developments, and a few of these have been mentioned below:
The multilayer ceramic capacitor market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. KEMET Corporation; KYOCERA Corporation; Murata Manufacturing Co., Ltd.; SAMSUNG ELECTRO-MECHANICS; and TAIYO YUDEN CO., LTD. are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of: