Multilayer Ceramic Capacitor (MLCC) Market to Reach $7.83 Bn, Globally, by 2024 at 5.5% CAGR, Says Allied Market Research
PORTLAND, Oregon, November 26, 2018 /PRNewswire/ --
Characteristic features of MLCC such as high resistance to abnormal voltage, exceptional frequency characteristics, and performance advantages like compact size and high capacitance would drive the growth of the global MLCC market
Allied Market Research published a report, titled, Multilayer Ceramic Capacitor Market by Class (Class 1 (NP0 (C0G), P100, and Others (N33 and N75)) and Class 2 (X7R, X5R, Y5V, and Others (Z5U and X7S)), Application (Consumer Electronics, Automotive, Manufacturing, Healthcare, and Others (Defense and Aviation)) - Global Opportunity Analysis and Industry Forecast, 2018-2024. The report offers detailed analyses of the industry dynamics, key market segments, top winning strategies, key investment pockets, and competitive scenario. As per the report, the global multilayer ceramic capacitor (MLCC) market generated $5.31 billion in 2017, and is expected to reach at $7.83 billion by 2024, registering a CAGR of 5.5% from 2018 to 2024.
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MLCCs exhibit remarkable features such as high resistance to abnormal voltage, exceptional frequency characteristics, and also these are compact in size and have high capacitance, which in turn drive the growth of the market. However, MLCC being prone to physical damage such as cracking is a major factor restricting the market growth. On the other hand, increase in demand for consumer electronics and automotive electronics would create new opportunities to the market.
Class 2 MLCC segment to retain lead through 2024
Class 2 MLCC segment contributed nearly three-fourths share of the total revenue in 2017, owing to high volumetric efficiency and increase in usage for smoothing, coupling, decoupling, and by-pass applications. This segment is expected to remain dominant throughout the forecast period. However, class 1 MLCC segment would grow at the fastest CAGR of 6.2% from 2018 to 2024, owing to low energy loss and high stability level features.
Consumer electronics segment to retain lion's share throughout forecast period
Consumer electronics segment accounted for more than half of the total market share in 2017 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in usage of MLCC for manufacturing devices such as smartphones, tablets, laptops, and others. However, automotive applications segment would register the highest CAGR of 8.1% from 2018 to 2024, owing to rise in adoption of electronic components in the automotive sector. The report also presents a holistic view of manufacturing, healthcare, and other applications.
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Asia-Pacific region to accrue highest revenue by 2024
Upsurge in the number of companies in countries such as China, Taiwan, and others, which use MLCC has enabled the Asia-Pacific region to be the leading revenue contributor to the global market in 2017. This region is expected to retain its lead position throughout the forecast period. However, LAMEA would grow at the highest CAGR of 7.1% from 2018 to 2024, owing to the burgeoning demand for MLCC for consumer electronics applications in countries such as U.A.E., Brazil, and Chile.
Leading market players
The leading market players analyzed in the report include Murata Manufacturing Co., Ltd., TDK Corporation, Samsung Electro-Mechanics, Taiyo Yuden Co. Ltd., Kyocera (AVX), Walsin Technology Corporation, YAGEO Corporation, Vishay, KEMET, and Darfon Electronics Corp. These industry players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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