Multilayer Ceramic Capacitor Market is expected to reach US$ 23.29 Bn by the end of 2031
The global multilayer ceramic capacitor (MLCC) market is driven significantly by a rise in demand from the automotive industry, increase in adoption of electric vehicles, and development of 5G technology. Multilayer ceramic capacitor (MLCC) is one of the most widely used passive components that is utilized in communications, consumer electronics, automotive, military, and other industries. MLCC accounts for more than 50% of the whole capacitor market. MLCC technology is best suited for miniaturization and high-volume production capability to support smartphones and other handheld devices. MLCCs can be designed to withstand sufficient high voltage, and they offer better high-frequency performance than other capacitors. This is more suitable for mass production, hence, multilayer ceramic capacitor market share is expected to increase in the next few years. Manufacturers should tap into incremental opportunities in MLCC technology to broaden their revenue streams.