Film Capacitor Market Size

Film Capacitor Market size is predicted to cross USD 7 billion by the end of 2036, expanding around 4% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of film capacitor was more than USD 4 billion. This growth of the sector is projected to be influenced by the growing demand for electric vehicles. For instance, worldwide sales of electric vehicle reached over 9 million in 2022, and this year's sales are anticipated to increase by another about 34% to approximately 13 million. As a result, the demand for film capacitors is also growing.

Film capacitor are used in electric vehicles to flatten out changes in DC voltage and prohibit ripple currents from returning to the power source. Semiconductors are also shielded by capacitors. Moreover, the government from across various nations are taking initiative steps to promote the adoption of electric vehicles owing to growing issues of emission from vehicles. Hence, this factor is also projected to influence the market revenue over the coming years.