Blog

Aug 12, 2023

HVDC Capacitor Market worth $17.9 billion by 2031

News provided by 18 Aug, 2023, 11:00 ET Share this article CHICAGO, Aug. 18, 2023 /PRNewswire/ -- The global HVDC capacitor market was valued at USD 6.4 billion in 2023 and is projected to reach USD

News provided by

18 Aug, 2023, 11:00 ET

Share this article

CHICAGO, Aug. 18, 2023 /PRNewswire/ -- The global HVDC capacitor market was valued at USD 6.4 billion in 2023 and is projected to reach USD 17.9 billion by 2031, registering a CAGR of 13.8% during the forecast period according to a new report by MarketsandMarkets™. The growth of the HVDC capacitor market is directly associated with the development and advancement of the infrastructure for power transmission and distribution and with broader trends in energy production and consumption.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=175421495

Browse in-depth TOC on "HVDC Capacitor Market"

150 – Tables70 – Figures230 – Pages

HVDC Capacitor Market Report Scope:

Report Coverage

Details

Market Revenue in 2023

$6.4 billion

Estimated Value by 2031

$17.9 billion

Growth Rate

Poised to grow at a CAGR of 13.8%

Market Size Available for

2019–2031

Forecast Period

2023–2031

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product Type, Technology, Installation Type, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Catastrophic explosion of capacitor banks

Key Market Opportunities

Escalating demand for electric vehicles

Key Market Drivers

Rising demand for HVDC transmission systems

By Product Type: The ceramic capacitor is projected to grow at the highest CAGR during the forecast period.

Ceramic capacitors are known for their high stability and low loss levels. They are not polarized and can be connected to AC and DC supplies. Moreover, they can be miniaturized and mass-produced. They can also withstand variations in voltages. Hence, they find applications in resonant circuits in transmitting stations, bypass filters, coupling or decoupling, and oscillators. They are cost-effective and can be used to protect semiconductor devices used in the automotive, transportation, consumer electronics, healthcare, energy and power, and telecommunications industries.

By Installation Type: The enclosed rack capacitor banks accounted for the largest HVDC capacitor market share during the forecast period.

In 2022, enclosed rack capacitor banks captured the largest share of the HVDC capacitor industry, likely to grow during the forecast period. Due to lower installation and maintenance costs, its supremacy can be attributed to its widespread use in many indoor and outdoor applications, such as power generation plants, electrical substations, chemical factories, cement factories, and iron and steel manufacturing plants. These banks also need minimal field assembly. They're employed in commercial, industrial, and utility power systems for reactive power compensation, power factor management, and harmonic filtering.

By Technology: Line-Commutated Converter (LCC) technology accounted for the largest HVDC capacitor market share during the forecast period.

In 2022, Line-Commutated Converter (LCC) technology captured a larger share of the HVDC capacitor market during the forecast period. LCC is an established and cost-effective technology commonly used in HVDC applications. A converter station provides short-term overload capability and good efficiency, with a total operational power loss of 0.7%-0.8%. Furthermore, an HVDC system based on LCC technology is effective for long-distance wind power transmission.

By Application: The energy & power application is projected to grow at the highest CAGR during the forecast period.

HVDC systems are increasingly being used in conjunction with energy storage options to control peak demand, store excess energy, and provide grid stabilization services—capacitors control and balance power transmission between the grid and energy storage systems. The growth can also be attributed to the increased demand for these capacitor banks owing to several benefits, including easy installation and maintenance, less assembly, simple design, and cost-effectiveness. They are widely used in energy and power applications for transmitting power over long distances. The ongoing projects undertaken by governments to enhance energy generation and distribution infrastructure are likely to result in high demand for pole-mounted capacitor banks in the future.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=175421495

By Region: Asia Pacific will likely grow at the highest CAGR during the forecast period.

Asia-Pacific has experienced immense economic growth, urbanization, and rising energy demand. Among others, these factors support the expansion of the High-Voltage Direct Current (HVDC) capacitor market in this region. The market in Asia Pacific is primarily studied for China, Japan, India, and the Rest of Asia Pacific. China and India mainly dominate the HVDC capacitor market in the region. These countries are densely populated and generate huge amounts of electricity to meet the surging demand for energy. To fulfill the rising energy demand, the governments of these countries are focusing on expanding their energy generation infrastructure.

The major players in the HVDC capacitor companies include Hitachi, Ltd. (Japan), General Electric (US), TDK Corporation (Japan), Eaton (US), KYOCERA Corporation (Japan), YAGEO Corporation (Taiwan), Vishay Intertechnology, Inc. (US), General Atomics (US), LIFASA, International Capacitors, S.A. (Spain), and ELECTRONICON Kondensatoren GmbH (Germany).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=175421495

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports:

Multilayer Ceramic Capacitor Market by Dielectric (Class I (C0G, X8G, U2J), and Class II (X7R, X5R, Y5V, X7S)), Rated Voltage (Low (Up to 50V), Medium (100-630V), and High (1000V & Above)), End User (Electronics, Automotive) (2022-2027)

HVDC Transmission Market by Component (Converter Stations, Transmission Cables, and Others), Project Type (Point-to-Point, Back-to-Back, and Multi-Terminal), Technology (CCC, VSC, and lCC), Application, and Geography - Global Forecast to 2024

Microgrid Market by Connectivity (Grid Connected, Off-grid), Offering (Hardware (Controllers, Energy Storage), Software, Services), End User, Type, Power Source, Power Rating (Below 1 MW, 1-5 MW, 5-10 MW) and Region - Global Forecast to 2028

Power Electronics Market by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace), and Geography - Global Forecast to 2026

Silicon Carbide Market by Device (SiC Discrete Device, SiC Module), Wafer Size (Up to 150 MM, >150 MM), End-Use Application (Automotive, Energy & Power, Transportation, Industrial, Telecommunications) and Region - Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected]Visit Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hvdc-capacitor-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/hvdc-capacitor.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets