REPORT HIGHLIGHT
High Voltage Direct Current Capacitor Market size was valued at USD 5,145.5 Million in 2022, expanding at a CAGR of 13.7% from 2023 to 2030.
A specific kind of capacitor made specifically for use in high-voltage direct current (HVDC) systems is known as an HVDC capacitor. Electricity can be sent across vast distances or between various power systems using the HVDC technology. In comparison to conventional alternating current (AC) systems, it enables for the efficient transfer of huge amounts of power with lower losses.
High Voltage Direct Current Capacitor Market- Market Dynamics:
Increasing demand from energy sector for grid expansion and integration is expected to propel the High Voltage Direct Current Capacitor demand.
Due to the rapid growth of renewable energy sources like wind and solar energy, effective integration into the current power infrastructures is required. To link far-flung renewable energy producing facilities to load centers, HVDC transmission is frequently used. In HVDC systems, HVDC capacitors are crucial parts that enable the reliable transmission of renewable energy. Power networks must be expanded and interconnected as the demand for electricity rises to guarantee efficient and reliable transmission. Power exchange between nations or regions is made possible by the connectivity of various power grids made possible by HVDC systems. The need for HVDC capacitors to enable these interconnection projects is driven by this trend.
Compared to AC systems, HVDC technology has advantages in terms of lower transmission losses. HVDC capacitors aid in minimizing losses, enhancing overall energy efficiency, and smoothing the voltage waveform of HVDC systems. The need for HVDC capacitors grows as environmental protection and energy efficiency gain in importance.
High Voltage Direct Current Capacitor Market- Key Insights:
- As per the analysis shared by our research analyst, the global High Voltage Direct Current Capacitor market is estimated to grow annually at a CAGR of around 13.7 % over the forecast period (2023-2030)
- The High Voltage Direct Current Capacitor industry is projected to grow at a significant rate due to the growing focus on consumer electronics.
- Based on Technology, line commutated converters (LCC) segment was predicted to show maximum market share in the year 2022.
- Based on Application, commercial segment is expected to hold significant market share by 2030.
- Based on Type segmentation, ceramic capacitor segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
High Voltage Direct Current Capacitor Market- Segmentation Analysis:
The Global High Voltage Direct Current Capacitor Market is segmented on the basis of Type, Technology, Application, and Region.
The market is divided into five categories based on Type: plastic film capacitor, aluminum electrolytic capacitor, ceramic capacitor, glass capacitor, and others. The ceramic capacitor segment dominates the market. Growing demand from industrial energy sector is contributing to market growth.
The market is divided into two categories based on Technology: line commutated converters (LCC), voltage-sourced converters (VSC), and others. The line commutated converters segment dominates the market. Increasing number of investments in energy & power industries is influencing the market growth.
The market is divided into five categories based on Application: commercial, industrial, defense, energy & power, and others. The energy & power segment dominates the market. In energy & power sector high voltage direct current capacitors are widely used for grid management, which is increasing the segment growth.
High Voltage Direct Current Capacitor Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
High Voltage Direct Current Capacitor Market- Competitive Landscape:
Due to the increasing grid infrastructure in energy & power industries across the globe, which influence the high voltage direct current capacitor market. Product developers, including corporate websites, and Technology types, are used by businesses to sell their products and services. Product or technology providers compete on various factors, such as advanced technology, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and grow their market share include new software development, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In 2022, ABB Ltd. is actively involved in HVDC projects worldwide. The company has focused on developing innovative HVDC capacitor technologies to improve power transmission efficiency and performance.
Key features of the study:
- This proposed research study on High Voltage Direct Current Capacitor market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the High Voltage Direct Current Capacitor market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for High Voltage Direct Current Capacitor market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the High Voltage Direct Current Capacitor market
- Impact of COVID-19 on High Voltage Direct Current Capacitor market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on High Voltage Direct Current Capacitor market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the High Voltage Direct Current Capacitor market, we have also included competitive landscape and key innovator analysis for the High Voltage Direct Current Capacitor market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial in Type and strategic initiatives of players operating in the High Voltage Direct Current Capacitor market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global High Voltage Direct Current Capacitor market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL HIGH VOLTAGE DIRECT CURRENT CAPACITOR MARKET KEY PLAYERS
- ABB Ltd.
- Siemens AG
- General Electric Company
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Nissin Electric Co., Ltd.
- Hitachi ABB Power Grids Ltd.
- TDK Corporation
- Vishay Intertechnology, Inc.
- Maxwell Technologies, Inc.
- EPCOS AG
- Alstom Grid
- RTDS Technologies Inc.
- TransGrid Solutions Inc.
GLOBAL HIGH VOLTAGE DIRECT CURRENT CAPACITOR MARKET, BY TYPE
- Plastic film capacitor
- Aluminum electrolytic capacitor
- Ceramic capacitor
- Glass capacitor
- Others
GLOBAL HIGH VOLTAGE DIRECT CURRENT CAPACITOR MARKET, BY TECHNOLOGY
- Line commutated converters (LCC)
- Voltage-sourced converters (VSC)
GLOBAL HIGH VOLTAGE DIRECT CURRENT CAPACITOR MARKET, BY APPLICATION
- Commercial
- Industrial
- Defense
- Energy & power
- Others
GLOBAL HIGH VOLTAGE DIRECT CURRENT CAPACITOR MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA