The HVDC Capacitor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s HVDC Capacitor Global Market Report 2024, 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..
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.
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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
Product innovation is a key trend gaining popularity in the HVDC capacitors Major companies operating in the HVDC capacitor market are focused on developing new products to strengthen their position. For instance, in November 2021, Vishay Intertechnology, a US-based manufacturer of electronic components launched Vishay Polytech T50 series capacitors. These capacitor chips are molded with vPolyTan™ surface-mount polymer tantalum and provide unique benefits such as withstanding temperature humidity bias (THB) testing of 85 °C, 85 % relative humidity for 500 hours, and function effectively under high temperatures of +125 °C. These capacitors also provide a wide capacitance range from 10 µF to 330 µF over voltage ratings from 2.5 V to 35 V, and a capacitance tolerance of ± 20 %.
The hvdc capacitor market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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