Overview and Scope
High voltage direct current (HVDC) capacitors refer to passive electronic components used in high voltage applications to store charge and energy. It is used to provide simple and reliable reactive power to improve system performance, quality, and efficiency.
Sizing and Forecast
The hvdc capacitor market size has grown rapidly in recent years. It will grow from $4.79 billion in 2023 to $5.54 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to energy efficiency regulations, demand from utility and industrial sectors, government initiatives and investments, interconnection of grids, urbanization and electricity demand..
The hvdc capacitor market size is expected to see rapid growth in the next few years. It will grow to $9.64 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to expansion of hvdc transmission systems, renewable energy growth, grid modernization initiatives, increasing urbanization and electricity demand, innovation in capacitor design.. Major trends in the forecast period include energy storage integration, advancements in hvdc, interconnection of regional grids, government initiatives and investments, focus on grid stability and efficiency..
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Segmentation & Regional Insights
The hvdc capacitor market covered in this report is segmented –
1) By Product Type: Plastic Film Capacitor, Ceramic Capacitor, Aluminum Electrolytic Capacitor, Tantalum Wet Capacitor, Other Product Types
2) By Installation Type: Open Rack Capacitor Banks, Enclosed Rack Capacitor Banks, Pole-Mounted Capacitor Banks
3) By Application: Commercial, Industrial, Energy and Power, Defense, Other Applications
Top Major Players
Hitachi Energy Ltd.
General Electric Company
TDK Corporation
Eaton Corporation PLC
Kyocera Corporation
North America was the largest region in the HVDC capacitor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hvdc capacitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for electricity is expected to propel the growth of the HVDC capacitors market going forward. Electricity is a fundamental form of energy that can be observed in both positive and negative forms. It is produced naturally and artificially. The HV grids use power capacitors with high-current capability that can withstand significant voltage fluctuations and surges to help achieve stable voltage in HVDC systems over the long-distance transmission of electricity. For instance, in June 2022, according to Department for Business, Energy and Industrial Strategy, a UK-based government body, electricity consumption increased by 11% in the UK in 2022. Further, in 2022, according to the Central Electricity Authority of India, a statutory organization of the Indian government, electricity generation in the financial year (FY) 2021-22 increased by 7.96% to 1.491.859 billion units, and the demand in FY 2022-23 has increased by 16.79 compared to the previous year. Therefore, the rising demand for electricity is driving the growth of the HVDC capacitors market.
Key Industry Players
Major companies operating in the hvdc capacitor market report are Hitachi Energy Ltd., General Electric Company, TDK Corporation, Eaton Corporation plc, Kyocera Corporation, Yageo Corporation, Vishay Intertechnology Inc., General Atomics, Lifasa – International Capacitors S.A, ELECTRONICON Kondensatoren GmbH, Siemens AG, Maxwell Technologies Inc., Samwha Capacitor Group, Shanghai Siyuan Electric Co. Ltd., Murata Manufacturing Co. Ltd., Zhejiang Huizhong Industrial Trading Co. Ltd., ABB Ltd., RTDS Technologies Inc., API Capacitors, Illinois Capacitor Inc., Aerovox Corp., Panasonic Corporation, Taiyo Yuden Co.Ltd., Nichicon Corporation, Cornell Dubilier Electronics Inc., AVX Corporation, HVP High Voltage Products GmbH, ZEZ SILKO Czech Republic, KEMET Corporation, Sieyuan Electric Co. Ltd.
The hvdc capacitor market report table of contents includes:
1. Executive Summary
2. HVDC Capacitor Market Characteristics
3. HVDC Capacitor Market Trends And Strategies
4. HVDC Capacitor Market – Macro Economic Scenario
5. Global HVDC Capacitor Market Size and Growth
………………………..
31. Global HVDC Capacitor Market Competitive Benchmarking
32. Global HVDC Capacitor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The HVDC Capacitor Market
34. HVDC Capacitor Market Future Outlook and Potential Analysis
35. Appendix
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