Non-polarized Electrolytic Capacitor Market Size

Non-Polarized Electrolytic Capacitor Market size is poised to reach USD 75 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the non-polarized electrolytic capacitor was USD 16 Billion. The power sector is adopting capacitors on a large scale as it reduces energy consumption, this sector is driving the growth of the market. According to our recent survey, the application of power capacitors in the energy industry can result in a reduction in energy consumption of up to 15% which helps in saving energy costs.

The focus on renewable energy sources is growing progressively, such as solar and wind power. It is creating an increasing demand for non-polarized capacitors in the power generation sector, these capacitors are used in inverters, converters, and power factor correction circuits in these systems. This factor is believed to fuel the market growth of non-polarized electrolytic capacitors.