openPR Logo
Press release

HVDC Capacitor Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

06-04-2024 09:36 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

HVDC Capacitor Market Set to Grow at the Fastest Rate- Time to Grow

The HVDC Capacitor Market is projected to grow from USD 6.4 billion in 2023 to USD 17.9 billion by 2031; it is expected to grow at a CAGR of 13.8% from 2023 to 2031. The factors driving the growth of the HVDC capacitor market include the increasing use of capacitors in commercial, industrial, aerospace and defense, and energy and power applications.

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

Based on product type, plastic film capacitors accounted for the largest market share, and a similar trend is projected to be observed during the forecast period. The growth can be attributed to the increased adoption of these capacitors due to their self-healing capability, long service life, and ability to operate effectively even in high temperatures. Plastic film capacitors are widely used in commercial, industrial, aerospace and defense, healthcare, and energy and power applications wherein low loss and high insulation resistance are required.

Enclosed rack capacitor banks held the largest share in the HVDC capacitor market in 2022, and this prevailing trend is projected to persist throughout the forecast period. This dominance can be attributed to their widespread utilization in both indoor and outdoor settings, such as power generation plants, electrical substations, chemical factories, and iron and steel manufacturing plants. Their popularity is driven by the advantages of reduced installation and maintenance costs, as well as the convenience of minimal field assembly. Enclosed rack capacitor banks play a significant role in various applications like reactive power compensation, power factor control, and harmonic filtering across commercial, industrial, and utility power systems. As demand continues to rise for these banks in such applications, the growth of the HVDC capacitor market is propelled.

In 2022, Line-Commutated Converter (LCC) technology captured a larger share of the HVDC capacitor market, and a similar trend is likely to be observed throughout the forecast period. LCC is a mature and cost-effective technology; therefore, it is widely adopted in HVDC applications. It offers short-time overload capability and high efficiency with a total operating power loss of 0.7-0.8% in a converter station. Moreover, LCC technology-based HVDC system is effective for long-distance wind power transmission.

The HVDC Capacitor Market for energy and power applications is expected to hold the highest market share during the forecast period. The growing preference for these capacitor banks can be attributed to several factors, including their ease of installation and maintenance, streamlined assembly, uncomplicated design, and cost-effectiveness. These capacitor banks find frequent application in energy and power scenarios, particularly for efficient power transmission over long distances. Anticipated government initiatives aimed at enhancing energy generation and distribution infrastructure are expected to drive substantial future demand for pole-mounted capacitor banks.

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

Europe is projected to account for the largest HVDC Capacitor Market share in 2031.

The dominance can be attributed to the increased demand for HVDC capacitors from several existing and ongoing HVDC transmission projects in the region. Moreover, the players in the HVDC capacitor market in the region collaborate with major giants to accelerate the energy transition. In addition, the region holds a strong base of end users from aerospace & defense, energy & power, mining, transportation, automotive, consumer electronics, and healthcare sectors. These end users demand highly reliable and efficient HVDC capacitors to achieve voltage stabilization and reduce transmission loss.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

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.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release HVDC Capacitor Market Set to Grow at the Fastest Rate- Time to Grow your Revenue here

News-ID: 3524356 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for HVDC

HVDC Capacitors Market Surges With Global Demand For Electricity: A Leading Driv …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations. 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
Top 10 HVDC Transmission Companies Analysis (2025)
HVDC Transmission Market study by "The Insight Partners" provides details about the market dynamics affecting the HVDC Transmission Market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. The report segments the global HVDC Transmission Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of
HVDC Transmission Market Opportunity | Size | Research Report
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- HVDC Transmission Market was valued at USD 7.93 Billion in 2019 and is projected to reach USD 13.34 Billion by 2027, growing at a CAGR of 7.25% from 2020 to 2027. HVDC Transmission Market Growth Driver The HVDC (High Voltage Direct Current) transmission market is experiencing significant growth, primarily driven by the increasing demand for efficient and reliable power transmission over long distances. HVDC technology offers numerous advantages
HVDC Valves Market Size 2024 to 2031.
Market Overview and Report Coverage The HVDC (High Voltage Direct Current) Valves Market refers to the market for components that are essential for converting alternating current (AC) to direct current (DC) in high voltage transmission systems. These valves play a crucial role in facilitating the efficient transmission of electricity over long distances with minimal losses. The future outlook for the HVDC Valves Market is quite promising, with a projected growth
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. Download Sample:https://www.datamintelligence.com/download-sample/hvdc-capacitor-market Rising Demand for HVDC
HVDC Transmission System Market 2022 | Detailed Report
The market report delivers an all-inclusive analysis of the market structure along with a forecast of the various segments and sub-segments of the HVDC Transmission System industry. This wide-ranging market research report acts as a backbone for the success of business in any niche. The HVDC Transmission System market survey report has been prepared by conducting market research in a systematic manner. Moreover, the HVDC Transmission System report includes a