High Voltage Capacitors Market
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PUBLISHED: 2022 ID: SMRC21602
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High Voltage Capacitors Market Forecasts to 2028 – Global Analysis By Type (Ultra-High Voltage, High Voltage), Application (Distribution, Power Generation, Power Transmission, Testing), End User (Industrial, Consumer Electronics, Commercial, Defense), and By Geography

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4.3 (49 reviews)
Published: 2022 ID: SMRC21602

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global High Voltage Capacitors Market is accounted for $13.20 billion in 2021 and is expected to reach $29.01 billion by 2028 growing at a CAGR of 11.9% during the forecast period. High voltage capacitors offer basic and dependable receptive ability to improve framework productivity, execution, and quality. It is used under oil for peaking in large pulse power systems or pulse shaping. The capacitors are produced utilizing foil electrode windings and dielectric. Its capacity usually ranges from 25 volts for household electronics to 1000 volts for specialized industrial equipment. The capacitors are enclosed in plastic cases with essential terminals, and are comprehensively vacuum-dried and infused with an insulating liquid.

Market Dynamics:

Driver:

Increasing demand for electricity

The increasing electricity demand is driving the market growth. The demand for electrical capacitors is supposed to increment altogether, basically because of the rising interest for customer durables and IT equipment, with the usage of electrical hardware in different applications. Multilayer ceramic capacitors are used in grid infrastructure to augment electricity accessibility, hence driving the market. For example, as per the International Energy Agency (IEA), electricity demand in India is likely to grow at an annual rate of 6.5% between 2022 and 2024, backed by growing consumption.

Restraint:

High cost of raw materials

The expansion of the global market is hindered by the cost of raw materials. The assembling cost of the sub components such as plastic which is the costliest material and expands the variable cost, consequently lessening the contribution margin in the overall capacitor manufacturing. In the current years, capacitor manufacturers are declining to adjust their raw material costs and constituent manufacturing costs, since they know that utilizing substitute raw materials can keep costs down and reduce the modernization. The decisive necessity in capacitor manufacturing is its capacity to hold a charge, which is resolute by the existing surface region of the dielectric being used.

Opportunity:

Technological upgrade of the old grid infrastructure

Technical upgrade of the old grid infrastructure is a key opportunity gaining popularity in the market. Organizations in the market are redesigning and expanding the old electric grid to augment its capacity to move electricity from renewable sources of power and make the grid more resilient. For instance, in December 2020, Cornell Dubilier Electronics, a US-based producer of high-class capacitors, acquired the high voltage capacitor fabrication systems of NWL. This acquisition significantly expands Cornell Dubilier’s capabilities in custom capacitors necessary for military propulsion systems, high-power lasers, inverters, and more.
Threat:

Unmet demand due to pandemic

The eruption of COVID-19 in China and it’s spread crosswise various nations all over the world halted the manufacturing deeds of industrial sectors which respectively hampered high voltage capacitor manufacturing also. The revenue streams of government of numerous countries were halted which correspondingly hindered the government funded transmission and distribution projects. This consequently decreased the demand for high voltage capacitors.  It is expected that as economies of numerous countries are recovering the government funded transmission and distribution projects might resume as soon as possible which might increase the demand for high voltage capacitor.

The 500-1000V segment is expected to be the largest during the forecast period

The 500-1000V segment is estimated to have a lucrative growth during the forecast period, due to the increase in its use in industrial electronics, power supplies, and high-end electronics. In recent years, the electronics industry has seen large growth owing to technological advancement and population growth across the globe. Capacitors ranging from 500 to 1000 volts are commonly employed in electrical circuits to block direct current while allowing alternating current to pass. They smooth the output of power supply in analogue filter networks.

The power generation segment is expected to have the highest CAGR during the forecast period

The power generation segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to the increase in population followed by rise in number of consumers and rapid urbanization. The increase in consumption leads to a rise in demand for electricity, thereby increasing the demand for high voltage capacitors in the power generation equipment. TRV (Transient Recovery Voltage) capacitors-GIS (Gas Insulated Switch Gears) and PD sensors have the highest global market size for power generation.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increased demand of energy supply, increased demand of electrical appliances with wide application, growing urbanization in developing countries particularly China and India, and rapid industrialization is increasing the demand for electricity in developing economic countries. As well, favourable government initiatives in India and China to increase the electrification rate by expanding the electricity distribution infrastructure, especially in the power grid infrastructure. All above-mentioned factors are projected to raise the demand for high voltage capacitors in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period owing to the increased adoption of high voltage capacitors, the presence of established end-use industries in the region, increase in technological advancement coupled with presence of developed infrastructure, and increase in automotive industry.

Key players in the market

Some of the key players profiled in the High Voltage Capacitors Market include Siemens AG, Alstom SA, RTDS Technologies Inc., ABB, Vishay Intertechnology, Inc., Iris Power, Epcos AG, Eaton Corporation, API Capacitors Ltd., Maxwell Technologies, General Electric Company, TDK Corporation, KONCAR Group, Crompton Greaves, W.S. Power Systems, SABIC, Hitachi Ltd., and Murata Manufacturing.

Key Developments:

In April 2021, SABIC, a global leader in the chemical industry, introduced its new 5-micron ELCRES HTV150 dielectric film for high-temperature, high-voltage, professional-grade capacitor applications, such as traction inverters for hybrid, plug-in hybrid, and battery electric vehicles (xEV).

In Feb 2021, TDK Corporation launched new product named EPCOS aluminum electrolytic capacitor series B43548* with snap-in terminals. This new product has an excellent maximum ripple current capability. This product is used in power electronics. This capacitor is developed for a maximum operating temperature of 105 °C, and has a rated voltage range of 400V to 500V.

In May 2020, Murata launched new product named KCM series of metal terminal type multilayer ceramic capacitors. It has temperature compensating U2J characteristics for automotive applications and the KRM series of metal terminal type multilayer ceramic capacitors for general-purpose applications. These products are basically for IGBT snubber circuits used in industrial and automotive equipment.

In April 2019, Vishay Intertechnology, Inc. has introduced a new series of radial-leaded high voltage single layer ceramic disc capacitors in compact sizes. The industry’s only such components to deliver high capacitance values of 2 nF, Vishay Roederstein HVCC series capacitors offer guaranteed load life performance of 1000 h at 125 % rated voltage and +105 °C.

Capacities Covered:
• Above 14000V
• 7001-14000V
• 1001-7000V
• 500-1000V

Technologies Covered:
• Voltage-Sourced Converters (VSC)
• Line Commutated Converters (LCC)

Dielectrics Covered:
• Ceramic Capacitor
• Plastic Film Capacitor
• Aluminum Electrolytic Capacitor (AEC)
• Tantalum
• Mica

Types Covered:
• Ultra-High Voltage
• High Voltage

Installation Types Covered:
• Enclosed Rack Capacitor Banks
• Open Rack Capacitor Banks
• Pole Mounted Capacitor Banks

Applications Covered:
• Distribution
• Power Generation
• Power Transmission
• Testing
• Semiconductor Manufacturing
• Oil & Gas Electronics
• Power Supplies
• Defense Electronics
• Motors
• Drivers & Inverters

Sales Channels Covered:
• Distribution Channel
• Direct Sales

End Users Covered:
• Industrial
• Consumer Electronics
• Automotive Electronics
• Commercial
• Energy & Power Sector
• Defense

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
        
2 Preface       
 2.1 Abstract      
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology      
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions     
         
3 Market Trend Analysis       
 3.1 Introduction      
 3.2 Drivers      
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats      
 3.6 Technology Analysis      
 3.7 Application Analysis      
 3.8 End User Analysis      
 3.9 Emerging Markets      
 3.10 Impact of Covid-19      
        
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry      
        
5 Global High Voltage Capacitors Market, By Capacity       
 5.1 Introduction      
 5.2 Above 14000V      
 5.3 7001-14000V      
 5.4 1001-7000V      
 5.5 500-1000V      
        
6 Global High Voltage Capacitors Market, By Technology       
 6.1 Introduction      
 6.2 Voltage-Sourced Converters (VSC)      
 6.3 Line Commutated Converters (LCC)      
        
7 Global High Voltage Capacitors Market, By Dielectric       
 7.1 Introduction      
 7.2 Ceramic Capacitor      
 7.3 Plastic Film Capacitor      
 7.4 Aluminum Electrolytic Capacitor (AEC)      
 7.5 Tantalum      
 7.6 Mica      
        
8 Global High Voltage Capacitors Market, By Type       
 8.1 Introduction      
 8.2 Ultra-High Voltage      
 8.3 High Voltage      
        
9 Global High Voltage Capacitors Market, By Installation Type       
 9.1 Introduction      
 9.2 Enclosed Rack Capacitor Banks      
 9.3 Open Rack Capacitor Banks      
 9.4 Pole Mounted Capacitor Banks       
        
10 Global High Voltage Capacitors Market, By Application       
 10.1 Introduction      
 10.2 Distribution      
  10.2.1 Capacitive Dividers for Electronic Voltage Transformer (EVT)     
  10.2.2 Capacitive Voltage Dividers     
  10.2.3 Capacitor for Lightning Overvoltage Monitoring     
 10.3 Power Generation      
  10.3.1 Grading Capacitors-AIS     
  10.3.2 Transient Recovery Voltage (TRV) Capacitors-AIS     
  10.3.3 P D Sensors     
  10.3.4 Grading Capacitors-GIS     
  10.3.5 Transient Recovery Voltage (TRV) Capacitors-GIS     
 10.4 Power Transmission      
  10.4.1 Filter Capacitor     
  10.4.2 Coupling Capacitors     
  10.4.3 Thyristor Valve Capacitor     
 10.5 Testing      
  10.5.1 Reference Capacitors     
  10.5.2 Resistive-Capacitive (RC) Dividers     
 10.6 Semiconductor Manufacturing      
 10.7 Oil & Gas Electronics      
 10.8 Power Supplies      
 10.9 Defense Electronics      
 10.10 Motors      
 10.11 Drivers & Inverters      
        
11 Global High Voltage Capacitors Market, By Sales Channel       
 11.1 Introduction      
 11.2 Distribution Channel      
 11.3 Direct Sales      
        
12 Global High Voltage Capacitors Market, By End User       
 12.1 Introduction      
 12.2 Industrial      
 12.3 Consumer Electronics      
 12.4 Automotive Electronics      
 12.5 Commercial      
 12.6 Energy & Power Sector      
 12.7 Defense      
        
13 Global High Voltage Capacitors Market, By Geography       
 13.1 Introduction      
 13.2 North America      
  13.2.1 US     
  13.2.2 Canada     
  13.2.3 Mexico     
 13.3 Europe      
  13.3.1 Germany     
  13.3.2 UK     
  13.3.3 Italy     
  13.3.4 France     
  13.3.5 Spain     
  13.3.6 Rest of Europe     
 13.4 Asia Pacific      
  13.4.1 Japan     
  13.4.2 China     
  13.4.3 India     
  13.4.4 Australia     
  13.4.5 New Zealand     
  13.4.6 South Korea     
  13.4.7 Rest of Asia Pacific     
 13.5 South America      
  13.5.1 Argentina     
  13.5.2 Brazil     
  13.5.3 Chile     
  13.5.4 Rest of South America     
 13.6 Middle East & Africa      
  13.6.1 Saudi Arabia     
  13.6.2 UAE     
  13.6.3 Qatar     
  13.6.4 South Africa     
  13.6.5 Rest of Middle East & Africa     
         
14 Key Developments       
 14.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 14.2 Acquisitions & Mergers      
 14.3 New Product Launch      
 14.4 Expansions      
 14.5 Other Key Strategies      
        
15 Company Profiling       
 15.1 Siemens AG      
 15.2 Alstom SA      
 15.3 RTDS Technologies Inc.      
 15.4 ABB      
 15.5 Vishay Intertechnology, Inc.      
 15.6 Iris Power      
 15.7 Epcos AG      
 15.8 Eaton Corporation      
 15.9 API Capacitors Ltd.      
 15.10 Maxwell Technologies      
 15.11 General Electric Company      
 15.12 TDK Corporation      
 15.13 KONCAR Group      
 15.14 Crompton Greaves      
 15.15 W.S. Power Systems      
 15.16 SABIC      
 15.17 Hitachi Ltd.      
 15.18 Murata Manufacturing      
        
List of Tables        
1 Global High Voltage Capacitors Market Outlook, By Region (2020-2028) ($MN)       
2 Global High Voltage Capacitors Market Outlook, By Capacity (2020-2028) ($MN)       
3 Global High Voltage Capacitors Market Outlook, By Above 14000V (2020-2028) ($MN)       
4 Global High Voltage Capacitors Market Outlook, By 7001-14000V (2020-2028) ($MN)       
5 Global High Voltage Capacitors Market Outlook, By 1001-7000V (2020-2028) ($MN)       
6 Global High Voltage Capacitors Market Outlook, By 500-1000V (2020-2028) ($MN)       
7 Global High Voltage Capacitors Market Outlook, By Technology (2020-2028) ($MN)       
8 Global High Voltage Capacitors Market Outlook, By Voltage-Sourced Converters (VSC) (2020-2028) ($MN)       
9 Global High Voltage Capacitors Market Outlook, By Line Commutated Converters (LCC) (2020-2028) ($MN)       
10 Global High Voltage Capacitors Market Outlook, By Dielectric (2020-2028) ($MN)       
11 Global High Voltage Capacitors Market Outlook, By Ceramic Capacitor (2020-2028) ($MN)       
12 Global High Voltage Capacitors Market Outlook, By Plastic Film Capacitor (2020-2028) ($MN)       
13 Global High Voltage Capacitors Market Outlook, By Aluminum Electrolytic Capacitor (AEC) (2020-2028) ($MN)       
14 Global High Voltage Capacitors Market Outlook, By Tantalum (2020-2028) ($MN)       
15 Global High Voltage Capacitors Market Outlook, By Mica (2020-2028) ($MN)       
16 Global High Voltage Capacitors Market Outlook, By Type (2020-2028) ($MN)       
17 Global High Voltage Capacitors Market Outlook, By Ultra-High Voltage (2020-2028) ($MN)       
18 Global High Voltage Capacitors Market Outlook, By High Voltage (2020-2028) ($MN)       
19 Global High Voltage Capacitors Market Outlook, By Installation Type (2020-2028) ($MN)       
20 Global High Voltage Capacitors Market Outlook, By Enclosed Rack Capacitor Banks (2020-2028) ($MN)       
21 Global High Voltage Capacitors Market Outlook, By Open Rack Capacitor Banks (2020-2028) ($MN)       
22 Global High Voltage Capacitors Market Outlook, By Pole Mounted Capacitor Banks (2020-2028) ($MN)       
23 Global High Voltage Capacitors Market Outlook, By Application (2020-2028) ($MN)       
24 Global High Voltage Capacitors Market Outlook, By Distribution (2020-2028) ($MN)       
25 Global High Voltage Capacitors Market Outlook, By Capacitive Dividers for Electronic Voltage Transformer (EVT) (2020-2028) ($MN)       
26 Global High Voltage Capacitors Market Outlook, By Capacitive Voltage Dividers (2020-2028) ($MN)       
27 Global High Voltage Capacitors Market Outlook, By Capacitor for Lightning Overvoltage Monitoring (2020-2028) ($MN)       
28 Global High Voltage Capacitors Market Outlook, By Power Generation (2020-2028) ($MN)       
29 Global High Voltage Capacitors Market Outlook, By Grading Capacitors-AIS (2020-2028) ($MN)       
30 Global High Voltage Capacitors Market Outlook, By Transient Recovery Voltage (TRV) Capacitors-AIS (2020-2028) ($MN)       
31 Global High Voltage Capacitors Market Outlook, By P D Sensors (2020-2028) ($MN)       
32 Global High Voltage Capacitors Market Outlook, By Grading Capacitors-GIS (2020-2028) ($MN)       
33 Global High Voltage Capacitors Market Outlook, By Transient Recovery Voltage (TRV) Capacitors-GIS (2020-2028) ($MN)       
34 Global High Voltage Capacitors Market Outlook, By Power Transmission (2020-2028) ($MN)       
35 Global High Voltage Capacitors Market Outlook, By Filter Capacitor (2020-2028) ($MN)       
36 Global High Voltage Capacitors Market Outlook, By Coupling Capacitors (2020-2028) ($MN)       
37 Global High Voltage Capacitors Market Outlook, By Thyristor Valve Capacitor (2020-2028) ($MN)       
38 Global High Voltage Capacitors Market Outlook, By Testing (2020-2028) ($MN)       
39 Global High Voltage Capacitors Market Outlook, By Reference Capacitors (2020-2028) ($MN)       
40 Global High Voltage Capacitors Market Outlook, By Resistive-Capacitive (RC) Dividers (2020-2028) ($MN)       
41 Global High Voltage Capacitors Market Outlook, By Semiconductor Manufacturing (2020-2028) ($MN)       
42 Global High Voltage Capacitors Market Outlook, By Oil & Gas Electronics (2020-2028) ($MN)       
43 Global High Voltage Capacitors Market Outlook, By Power Supplies (2020-2028) ($MN)       
44 Global High Voltage Capacitors Market Outlook, By Defense Electronics (2020-2028) ($MN)       
45 Global High Voltage Capacitors Market Outlook, By Motors (2020-2028) ($MN)       
46 Global High Voltage Capacitors Market Outlook, By Drivers & Inverters (2020-2028) ($MN)       
47 Global High Voltage Capacitors Market Outlook, By Sales Channel (2020-2028) ($MN)       
48 Global High Voltage Capacitors Market Outlook, By Distribution Channel (2020-2028) ($MN)       
49 Global High Voltage Capacitors Market Outlook, By Direct Sales (2020-2028) ($MN)       
50 Global High Voltage Capacitors Market Outlook, By End User (2020-2028) ($MN)       
51 Global High Voltage Capacitors Market Outlook, By Industrial (2020-2028) ($MN)        
52 Global High Voltage Capacitors Market Outlook, By Consumer Electronics (2020-2028) ($MN)       
53 Global High Voltage Capacitors Market Outlook, By Automotive Electronics (2020-2028) ($MN)       
54 Global High Voltage Capacitors Market Outlook, By Commercial (2020-2028) ($MN)       
55 Global High Voltage Capacitors Market Outlook, By Energy & Power Sector (2020-2028) ($MN)       
56 Global High Voltage Capacitors Market Outlook, By Defense (2020-2028) ($MN)       
        
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

 

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