With 13.8% CAGR, Multilayer Ceramic Capacitor Market Growth to Surpass USD 26.6 billion

NORTHBROOK, Ill. - Nov. 30, 2022 - PRLog -- The multilayer ceramic capacitor (MLCC) market is expected to grow from USD 14.0 billion in 2022 to USD 26.6 billion by 2027.; it is expected to grow at a CAGR of 13.8% from 2022 to 2027. Growing demand from the automotive industry due to advent of EVs is driving the market for multilayer ceramic capacitor. Moreover, increasing adoption in telecommunications end-user industry due to rapid development of 5G technology; and rising incorporation of MLCCs in smartphones, smart wearables, and other electronic devices plays a key role in driving the growth of the MLCC market.

MLCC Market low rated voltage segment is expected to grow at the fastest CAGR during the forecast period

The MLCC market for low rated voltage segment is expected to grow at the fastest CAGR during the forecast period. The main reason for the dominance of low rated voltage MLCCs is their high demand in the electronics end-user industry. Most of the widely adopted electronics devices, especially small consumer electronics such as smartphones, smart wearables, true wireless stereo (TWS) headsets, headphones, and calculators, operate at a lower voltage. Further, the miniaturization of ICs lowers the required voltage, thereby accelerating the demand for low rated voltage MLCCs.

Asia Pacific expected to dominate the MLCC market during the forecast period

The Asia Pacific region accounted for the largest share of MLCC market in 2021 and is also expected to grow at the highest CAGR during the forecast period. With Asia Pacific being one of the largest electronics manufacturers, as well consumers, in the world, it is the largest consumer of multilayer ceramic capacitors for the electronic end-user industry. The region is one of the largest consumers of smartphones. According to India Brand Equity Foundation (IBEF), in 2021, India alone recorded shipment of ~173 million smartphone units, which is 14% more as compared to 2020. Apart from smartphones, the region produces and consumes a broad range of electronic goods, ranging from commercial to household and entertainment gadgets.

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Key players in the MLCC market are Murata (Japan), Samsung Electro-Mechanics (South Korea), TAIYO YUDEN (Japan), YAGEO (Taiwan), Walsin Technology (Taiwan), TDK (Japan), Vishay Intertechnology (US), Kyocera (Japan)..

News Also Covered: https://www.prnewswire.com/news-releases/multilayer-ceramic-capacitor-market-worth-26-6-billion-by-2027--exclusive-report-by-marketsandmarkets-301527714.html
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