The High Voltage 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 High Voltage Capacitor Global Market Report 2024, The high voltage capacitor market size has grown strongly in recent years. It will grow from $1.71 billion in 2023 to $1.81 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to rise in demand for electrical grid infrastructure, increase in power generation, increase in power generation, increase in renewable energy integration, rise in research and development.
The high voltage capacitor market size is expected to see strong growth in the next few years. It will grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing electric vehicles (evs), expansion of high voltage direct current (hvdc), rising renewable energy integration, increasing adoption of industrial automation, increasing power quality enhancement. Major trends in the forecast period include miniaturization trend, dc link capacitors, power electronics, smart grids, material advancements, customization and specialized applications.
The growing demand for electricity is driving the growth of the high voltage capacitor market. The demand for electrical capacitors is expected to increase significantly, primarily due to the rising demand for consumer durables and IT hardware, with the utilization of electrical circuitry in diverse applications. Multilayer ceramic capacitors are used in grid infrastructure to increase electricity accessibility, thus driving the market. For instance, according to the International Energy Agency (IEA), electricity demand in India is expected to grow at an annual rate of 6.5% between 2022 and 2024, backed by rising consumption. Thus, the increasing electricity demand is expected to drive the global high-voltage capacitor market.
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The high voltage capacitor market covered in this report is segmented –
1) By Type: High Voltage Plastic Film Capacitors, High Voltage Aluminum Electrolytic Capacitors, High Voltage Ceramic Capacitors, Other High Voltage Capacitors
2) By Capacity: 500-1000V, 1001-7000V, 7001-14000V, Above 14000V
3) By Application: Power Generation, Distribution, Transmission
Technological upgrade of the old grid infrastructure is a key trend gaining popularity in the high voltage capacitor market. Companies in the high voltage capacitor market are upgrading and expanding the old electric grid to increase its capacity to move electricity from renewable sources of power and make the grid more resilient. For instance, in January 2022, Yageo Corporation, a Taiwan-based company that specializes in passive electronic component manufacturing including high voltage capacitors launched high voltage high capacitance MLCCs. The Yageo HCV X7R has the largest capacitance and rated voltage of 47 uF and 100 volts, respectively, and can accommodate case sizes (in inches) ranging from 0402 to 1210. Yageo is the most competitive provider of HCV MLCCs because of its new facility, which is scheduled to open in 2023, which will also retain additional production capacity to satisfy the expanding demand .
The high voltage 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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