Market Research Of Global Multi Layer Ceramic Capacitor (MLCC) Market By Knowledge Sourcing Intelligence
Introduction
The
global multilayer ceramic capacitor (MLCC) market is projected to
grow at a CAGR of 4.02% during to forecast period to reach a market size
of US$5.157 billion in 2023, from US$5.056 billion in 2017. The major
factors driving the demand for MLCC is the rising global demand
for consumer electronics and electric vehicles. Favorable government
regulations coupled with the increasing demand from
various end-user industries such as automotive, communication and
technology and consumer electronics will further propel the demand for MLCC.
However, the possibility of MLCC to crack under thermal or mechanical stress
will hinder the demand for MLCC over the forecast period. Market
Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.
Geographically,
the global multilayer ceramic capacitor (MLCC) market has been segmented
as North America, South America, Europe, the Middle East, and Africa,
and the Asia Pacific. The Asia Pacific region held a
significant market share owing to the favorable government policies
and the booming automotive industry. North America and
Europe is also expected to grow at an impressive rate on account of
rising demand from various end-user industries including consumer
electronics, energy and power, and communication and technology among
others. South America and the Middle East and Africa
regions are projected to witness moderate growth during the next five
years.
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sample view of global multilayer ceramic capacitor market share
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Growing demand
for electric vehicles
The demand for electric vehicles is
growing worldwide on account of increasing investment from automotive
companies, new product launches and rising environmental concerns among
the public. Capacitors for electric vehicles need to withstand harsh
environments and high ripple currents. Due to the higher ripple current offered
by MLCC as compared to other products, the demand for MLCC in electric vehicles
is bolstering. In addition, consumers are adopting environmentally
friendly approaches in their everyday life to reduce carbon footprint and
restrict the overall impact of fossil fuels. This will boost the demand for
electric vehicles as it uses an alternative source of energy. Furthermore,
governments across the world are promoting the adoption of electric vehicles by
offering subsidies and bolstering infrastructure expenditure so as to set up
electric vehicles charging stations. The growing demand for electric
vehicles as a result of favourable government policies
and their environmental friendliness will augment the demand for MLCC
over the forecast period.
Global Multi-Layer Ceramic Capacitor (MLCC) Market Forecast By End-User
Industry
By
end-user industry, the global multi-layer ceramic capacitor market is
segmented as communication and technology, aerospace and defense, consumer
electronics, healthcare, manufacturing, automotive, and energy, and
power. The automotive industry holds a major share in the MLCC market
on account of shifting the focus of many manufacturers towards increasing the
production of small case size components while focusing more on those which are
meant for use in automotive applications. The market is witnessing good
growth in industries like consumer electronics, manufacturing, healthcare, and
communication and technology. The growth in these verticals is majorly
attributed to increasing investments by industry players into research and
development and facility expansion in order to offer a wider range of
solutions to their customers while meeting the continuously growing demand from
the customers. The growth of the MLCC market in other industries is also
expected to remain good over the projected period.
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sample view of global multilayer ceramic capacitor market share by the end user industry
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The market
for multi-layer ceramic capacitors in the automotive industry
was valued at US$XX.XX billion in 2017 and is expected to grow at a CAGR
of XX.XX% over the forecast period to reach a market size of US$XX.XX
billion in 2023. The growth of the MLCC market
in the automotive industry is majorly attributed to the increasing
incorporation of more electrical components by automakers into cars and other
vehicles. Automakers are pumping huge amounts into research and development to
develop and integrate advanced technologies into both passenger cars and
commercial vehicles in order to enhance the security and overall experience of
the users. Increasing investments by automakers into the expansion of
their manufacturing facilities into new markets with high growth potential are
increasing their production capacity and output.
These investments by
automakers into R&D and facility expansion are driving with them the demand
for multi-layer ceramic capacitors owing to their capabilities which
make them fit for application in this industry. This is a major factor driving
the growth of the market. Furthermore, continuous cost-down pressure over large
case size components over the past decade are pushing manufacturers to divert
their manufacturing capacities away from large case size components and
increase the production of small case size components while laying more focus
on products for use in the automotive industry. Although this increasing gap
between demand and supply of MLCCs are affecting the growth
of the overall market to some extent, the growth of the MLCC market in
this industry is expected to remain solid over the projected period.
Global Multi-layer Ceramic Capacitor (MLCC) Market Forecast
by Geography
Geographically, the global
multi-layer ceramic capacitor market is segmented as North America, South
America, Europe, the Middle East, and Africa, and the Asia Pacific.
Asia-Pacific accounted for a substantial market share in 2017 and is
projected to grow at a significant CAGR during the forecast period
owing to the rapid growth of various end-user industries of MLCCs. North
America and Europe also hold a significantly large share in the market as these
regions are characterized by mature industries like automotive, manufacturing,
energy and power, and others. The market for MLCCs in regions like South
America, and the Middle East and Africa is also expected to witness a
fairly good growth over the projected period, most of which will be attributed
to rising investments by many companies in these regions.
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sample view
of global multilayer ceramic capacitor market share by the geography
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Solid growth of semiconductor industry
in the region, on account of the presence of a major market, the player is driving with it the market of multi-layer ceramic capacitors
owing to their increasing use in a continuously expanding range of
applications. The region has a good number of passive
component manufacturers are making significant investments in
capacity expansion to meet the heavy demand from the customers. Rapidly growing
automotive industry in this region is a major driving factor for the MLCC
market. As automakers continue to make capital investments in Asia
Pacific, owing to the easy availability of resources and cheap
labor as compared to other regions, the production of vehicles has been showing
an impressive rise. This is driving the demand for MLCCs among the
industry players. As the automotive industry continues to move towards
electric vehicles, owing to the immense growth potential this segment holds,
the demand for MLCCs is expected to be further driven, which will boost the
growth of the market over the projected period. The growth of other
industry verticals like consumer electronics, communication and technology and
healthcare among others, which have been showing a very rapid adoption of MLCCs
for use in a wide range of applications, in this region is also expected to
fuel the growth of the market over the forecast period.
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