Press release
HVDC Capacitor Market Share, Trends Analysis, Value And Forecast Report 2024-2033
HVDC Capacitor Market
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.
Market Overview -
High voltage direct current (HVDC) capacitors refer to passive electronic components used in high voltage applications to store charge and energy. It is used to provide simple and reliable reactive power to improve system performance, quality, and efficiency.
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Hvdc Capacitors Market Surges With Global Demand For Electricity
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.
Competitive Landscape -
Major companies operating in the hvdc capacitor market report are Hitachi Energy Ltd., General Electric Company, TDK Corporation, Eaton Corporation plc, Kyocera Corporation, Yageo Corporation, Vishay Intertechnology Inc., General Atomics, Lifasa - International Capacitors S.A, ELECTRONICON Kondensatoren GmbH, Siemens AG, Maxwell Technologies Inc., Samwha Capacitor Group, Shanghai Siyuan Electric Co. Ltd., Murata Manufacturing Co. Ltd., Zhejiang Huizhong Industrial Trading Co. Ltd., ABB Ltd., RTDS Technologies Inc., 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.
Vishay Intertechnology's Breakthrough In Hvdc Capacitors With Vishay Polytech T50 Series
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 %.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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HVDC Capacitor Market
Overview
The HVDC Capacitor Market, with a promising CAGR, employs capacitors for efficient high-voltage direct current power transmission. Government initiatives, demand for HVDC in power transmission, and North America's increasing adoption drive market dynamics.
Market Dynamics
Government initiatives for HVDC systems and escalating demand for HVDC capacitors propel market growth. However, challenges like high costs and low voltage impede progress, emphasizing the need for innovation in this dynamic market.
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