Capacitor lead times fell by 7% sequentially in Q2 and were down by 10% year-over-year in H1. General-purpose, small case-size MLCCs, while readily available on lower demand, will become tight with abrupt demand increases. Most factory utilization rates average 60%, and capacity ramps would lag sharper demand. Additionally, channel inventory for all capacitor types was off by 19% for the first six months of the year compared to 2022.