LYON, France – Capacitor costs represented about 10% of the total power converter costs in 2022. Film capacitors are the most used for high power levels and as a matter of fact, are the most expensive type of capacitors. Therefore, the cost of capacitors in a power converter increases with the system’s power level, as more capacitors are needed. Yole Intelligence, part of Yole Group, forecasts that the overall capacitor market for power converters will grow from around US$4.9 billion in 2022 to US$7.0 billion by 2028, with a CAGR2022-2028 of 5.9%.
According to Shalu Agarwal, Ph.D., Senior Analyst, Power Electronics and Materials activities, within the Power & Wireless division at Yole Intelligence: “Film capacitors show the most significant growth, representing a market of around US$3.9 billion in 2022. Electrolytic capacitors and MLCC s are mainly used for low- to medium-voltage ranges and will grow with CAGRs 2022-2028 of 5.7% and 5.1%, respectively.”
Capacitors for xEVs will increase their share of the power capacitor market from 29% in 2022 to 44% by 2028. Therefore, many capacitor companies are willing to expand their business and focus on the automotive industry’s current and future needs.
In this context, Yole Intelligence releases its new market & technology report: Capacitors for Power Converters 2023. Among the passive components of power converters, most innovations are focused on capacitor technology. With this new power electronics study, the company analyzes the technology and market trends for capacitors used in power converters.