HVDC Capacitor
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What Will the HVDC Capacitor Industry Market Size Be by 2025?
In recent times, the HVDC capacitor market has witnessed significant expansion. The market, which was worth $5.46 billion in 2024, is projected to rise to $6.27 billion in 2025, translating to a compound annual growth rate (CAGR) of 14.8%. This growth in the historical period is linked to factors such as energy efficiency policies, demand from the utility and industrial sectors, government initiatives and investments, grid interconnection, urbanization, and electricity demand.
What’s the Long-Term Growth Forecast for the HVDC Capacitor Market Size Through 2029?
Expectations are high for the HVDC capacitor market size, with significant growth predicted in the coming years. By 2029, it’s slated to reach $10.77 billion, noting an impressive compound annual growth rate (CAGR) of 14.5%. The predicted growth within this period can be traced back to several factors such as HVDC transmission systems expansion, the surge in renewable energy development, grid enhancement initiatives, increased urbanization and energy demand, and advances in capacitor designs. Some of the major trends identified for the forecast period range from energy storage unification, HVDC advancements, regional grid intermeshing, governmental interventions, and investments, to the emphasis on grid stability and efficiency.
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What Are the Key Growth Drivers Fueling the HVDC Capacitor Market Expansion?
An anticipated surge in the demand for electricity is presumed to boost the expansion of the HVDC capacitors market. Energy in the form of electricity, which can take both positive and negative shapes can be found in nature or artificially produced. Power capacitors with a significant high-current capacity are used in HV grids to endure sizable voltage fluctuations and spikes, thus assuring a steady voltage in HVDC systems over extended electricity transmission distances. For instance, as per the data from the Department for Business, Energy and Industrial Strategy, a government entity in the UK, there was an increase of 11% in electricity consumption in the UK in June 2022 relative to 2022. Also, as per the Central Electricity Authority of India, a statutory organization of the Indian government, the power generation in the fiscal year 2021-22 grew by 7.96% to 1.491.859 billion units, while the demand in FY 2022-23 rose by 16.79 in comparison to the prior year. Consequently, the escalating demand for electricity is spurring the growth of the HVDC capacitors market.
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What Are the Key Trends Driving HVDC Capacitor Market Growth?
Leading businesses in the HVDC capacitor market are putting their focus into the development of innovative products, such as high-value high-voltage combined aluminum capacitors, to boost their market earnings. These specific capacitors combine the features of aluminum electrolytic capacitors and aluminum-polymer capacitors, providing certain benefits in high-voltage applications. For example, U.S.-based electronics manufacturing company Vishay Intertechnology Inc. introduced the 202 PML-ST series of high-value, high-voltage screw terminal aluminum electrolytic capacitors in December 2022. The purpose of these capacitors is to assist designers in packing more energy into less space, and they come in 11 compact package sizes from 35 mm x 60 mm to 90 mm x 220 mm. Compared to past versions, this series presents higher capacitance/voltage (CV) values, with a ripple current capacity of up to 49.6 A, an equivalent series resistance (ESR) as low as 2 mΩ, and a lifespan reaching up to 10,000 hours at +85 °C.
How Is the HVDC Capacitor Market Segmented?
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
Subsegments:
1) By Plastic Film Capacitor: Polypropylene Film Capacitors, Polyester Film Capacitors, Other Plastic Film Capacitors
2) By Ceramic Capacitor: Multi-Layer Ceramic Capacitors (MLCC), Disc Ceramic Capacitors, Other Ceramic Capacitors
3) By Aluminum Electrolytic Capacitor: Radial Lead Aluminum Electrolytic Capacitors, Axial Lead Aluminum Electrolytic Capacitors, Snap-In Aluminum Electrolytic Capacitors
4) By Tantalum Wet Capacitor: Solid Tantalum Capacitors, Liquid Tantalum Capacitors
5) By Other Product Types: Film Capacitors (Other Types), Supercapacitors, Hybrid Capacitors
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Which Companies Are Leading the Charge in HVDC Capacitor Market Innovation?
Major companies operating in the HVDC capacitor market are Hitachi Energy Ltd., General Electric Company, TDK Corporation, Eaton Corporation PLC, Yageo Corporation, Vishay Intertechnology Inc., ELECTRONICON Kondensatoren GmbH, Siemens AG, Maxwell Technologies Inc., Samwha Capacitor Group, Shanghai Siyuan Electric Co. Ltd., Murata Manufacturing Co. Ltd., ABB Ltd., 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.
Which Regions Are Leading the Global HVDC Capacitor Market in Revenue?
North America was the largest region in the HVDC capacitor market in 2024. 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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