Global HVDC Capacitor Markets Report 2022: A $15.3 Billion Market by 2030 - Rising Adoption of HVDC Capacitors by Industrial Consumers in Asia-Pacific & Escalating Demand for Electric Vehicles
DUBLIN, Oct. 3, 2022 /PRNewswire/ -- The "HVDC Capacitor Market by Product Type (Plastic Film Capacitors, Aluminum Electrolytic Capacitors), Technology (LCC, VSC), Installation Type, Application (Energy and Power, Industrial, Commercial) and Geography - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global HVDC capacitor market is projected to reach USD 15.3 billion by 2030 from an estimated USD 5.2 billion in 2022, at a CAGR of 14.4% from 2022 to 2030
The growth of the HVDC capacitor market can be attributed to the rising demand for HVDC transmission systems and the increasing adoption of renewable energy sources with rising energy consumption.
HVDC plastic film capacitors are expected to capture the largest market share during the forecast period.
HVDC plastic film capacitors are expected to capture the largest market share during the forecast period owing to the increased adoption of these capacitors in commercial, industrial, aerospace and defense, and energy and power applications. They are highly reliable due to their self-healing capability and long service life and can continue operating effectively even in high temperatures.
In 2022, enclosed rack capacitor banks captured the largest share of the HVDC capacitor market.
In 2022, enclosed rack capacitor banks captured the largest share of the HVDC capacitor market, and a similar trend is likely to be observed during the forecast period. The dominance can be attributed to its wide deployment in various indoor and outdoor applications, such as power generation plants, electrical substations, chemical factories, cement factories, and iron and steel manufacturing plants, due to lower installation and maintenance costs.
In 2022, the energy and power segment captured the largest share of the HVDC capacitor market.
In 2022, the energy and power segment captured the largest share of the HVDC capacitor market, and a similar trend is likely to be observed during the forecast period. The dominance of this segment can be attributed to the ongoing government support and initiatives to promote sustainable energy to meet the net-zero emission scenario.
For instance, in 2021, the Department of Energy (DoE) (US) initiated the Building a Better Grid Initiative to catalyze the development of new and upgraded high-capacity electric transmission lines nationwide. The initiatives aim to identify national transmission needs and support the buildout of long-distance, high-voltage transmission facilities to reach the country's goal of 100% clean electricity by 2035 and a zero-emissions economy by 2050.
In 2022, Europe held the largest share of the overall HVDC capacitor market.
In 2022, Europe held the largest share of the overall HVDC capacitor market. The dominance can be attributed to the increased demand for HVDC capacitors from a number of existing and ongoing HVDC transmission projects in the region.
For instance, in 2021, Hitachi Energy received a contract from Dogger Bank Wind Farm to connect the third transmission link from the world's largest offshore wind farm over 130 km to the UK mainland.
In this deal, Hitachi Energy will support DBWF with its market-leading, compact HVDC technology - HVDC Light - to shape the offshore power landscape, enabling the efficient transmission and dynamic integration of distant offshore wind power to the onshore grid.
Competitive landscape
The study includes an in-depth competitive analysis of these key players in the HVDC capacitor market, with their company profiles, recent developments, and key market strategies.
Hitachi, Ltd. (Japan), General Electric Company (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)are some of the key players in the HVDC capacitor market.
Premium Insights
- Rising Electricity Demand with Growing Population Worldwide to Fuel Market Growth from 2022 to 2030
- Plastic Film Capacitors to Hold Majority of Share of Global HVDC Capacitor Market in 2022
- Lcc Technology to Account for Larger Market Share in 2030
- Enclosed Rack Capacitor Banks to Capture Largest Market Share in 2030
- Energy and Power Segment to Account for Largest Share of HVDC Capacitor Market, by Application, in 2030
- Europe to Capture Largest Share of Global HVDC Capacitor Market in 2030
- China to Witness Highest CAGR in Global HVDC Capacitor Market During Forecast Period
Market Dynamics
Drivers
- Rising Demand for HVDC Transmission Systems
- Increasing Adoption of Renewable Energy Sources with Rising Energy Consumption
- Ongoing Government Initiatives to Improve Energy Infrastructure
Restraints
- Hazardous Effects of Hv Capacitors on Humans and Environment
Opportunities
- Rising Adoption of HVDC Capacitors by Industrial Consumers in Asia-Pacific
- Escalating Demand for Electric Vehicles
Challenges
- Catastrophic Explosion of Capacitor Banks
Pricing Analysis
- Average Selling Prices of HVDC Capacitors, by Product Type
- Average Selling Prices of HVDC Capacitors Offered by Key Players, by Product Type
- Average Selling Prices of HVDC Capacitors Offered by Key Players, by Product Type
- Average Selling Price Trend for HVDC Capacitors, 2018-2030 (USD)
Technology Analysis
- Key Technologies
- HVDC Technology
- Flat Winding Technology
- HVDC Power Film Technology
Case Study Analysis
- Hitachi Energy Helped Transgrid to Improve Power Quality of Qni
- Hitachi Abb Power Grids Helped Minnesota Power Increase Availability of Clean Power to Its Customers in Region
- Condis Supported Zhangbei Project with Its High- Voltage Capacitors
For more information about this report visit https://www.researchandmarkets.com/r/1m4nh0
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