Hvdc Capacitor Market
PUBLISHED: 2023 ID: SMRC23293
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Hvdc Capacitor Market

HVDC Capacitor Market Forecasts to 2030 - Global Analysis By Product Type (Ceramic Capacitors, Plastic Film Capacitors, Aluminum Electrolytic Capacitors, Tantalum Wet Capacitors and Other Product Types), Technology (Voltage-Source Converter (VSC) and Line-Commutated Converter (LCC)), Installation Type (Open Rack Capacitor Banks, Enclosed Rack Capacitor Banks and Pole-Mounted Capacitor Banks), Application, End User and By Geography

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4.3 (88 reviews)
Published: 2023 ID: SMRC23293

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $6.05 BN

Projected Year Value (2030)

US $17.52 BN

CAGR (2023 - 2030)

16.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global HVDC Capacitor Market is accounted for $6.05 billion in 2023 and is expected to reach $17.52 billion by 2030 growing at a CAGR of 16.4% during the forecast period. High voltage direct current (HVDC) capacitors are made for use in DC power supply and other common electronic equipment applications. The safety, dependability, and cost-effectiveness of the gearbox system are optimised by the HVDC capacitor. By finding faults and defects in goods without interfering with business operations or slowing down procedures, it ensures safety and dependability. In addition due to growing awareness of the negative effects that fossil fuels have on the environment, increased power generation from renewable sources of energy is anticipated to see exponential development, further driving the market's expansion.

According to the US-based National Renewable Energy Laboratory (NREL) study, the cost-optimal amount of solar installations by 2038 would change if long-distance HVDC transmission was added across the United States.



Market Dynamics:

Driver:

The need for HVDC capacitors raises as a result of HVDC transmission systems

The key component of the HVDC transmission system is an HVDC capacitor is essential for converting AC to DC, moving power between converter stations, and converting DC to AC again so that it may be supplied into the power grid. They aid in preserving voltage stability, enhancing the calibre of the power, and promptly controlling power flow. By quickly controlling the power flow in the transmission lines, they also lessen the chance of short-circuiting current. At the receiving converter station at the end of the HVDC connection, capacitor banks also safeguard and guarantee that the AC output voltage is constant and prepared to be supplied into the electrical grid. As a result, the market is growing due to the rising demand for HVDC transmission systems.

Restraint:

Risks associated with release of toxic products from HVDC capacitors

Even after the equipment has been de-energized, HV capacitors may continue to store harmful energy and develop an unsafe residual charge on their own. Some capacitors' liquid dielectric or its combustion by products may be harmful. When dielectric or metal connectivity failures take place in HV capacitors, an arc fault is produced. Within oil-filled units, the dielectric fluid vaporises, causing case bulge and breakage. In addition, even while in regular operation, HV vacuum capacitors can emit mild X-rays. These elements pose risks to both people and the environment.

Opportunity:

A rise in interest in electric cars

An HVDC capacitor is primarily used in electric vehicles to increase DC bus voltage stability and prevent ripple currents from returning to the power source. When electric vehicles utilise batteries to supply energy, they are also employed to safeguard semiconductor components and for decoupling purposes. DC link capacitors help electric vehicle applications' inverters, motor controllers, and battery systems balance the effects of inductance. By serving as filters (EMI), they also protect EV subsystems from voltage surges, spikes, and electromagnetic interference.

Threat:

Tragic explosion

It is difficult to pinpoint the precise reason for the failure of capacitor banks, and the capacitor banks have the potential to burst catastrophically while in service. In the capacitor bank, the capacitor units and inductors are linked in series. Due to insufficient voltage rating, the capacitor bank fails catastrophically when the voltage across the capacitor units exceeds the design values. Fuse blowing may occur as a result of a short circuit in the capacitor unit brought on by excessive current and voltage. Fuse failure might be brought on by inappropriate capacitor unit application, fatigue, or branch protection issues. Failure brought on by stress both inside and outside. Hence all the above factors hinder the growth of market.

Covid-19 Impact

The COVID-19 epidemic has had a substantial negative impact on the market for high voltage direct current (HVDC) capacitors worldwide. Due to the global downturn and lack of labour, production facilities for electronics and semiconductors have been put on hold. Travel restrictions and facility closures caused by the COVID-19 epidemic kept workers away from their workplaces, which resulted in a major and prolonged decline in factory utilisation.

The ceramic capacitor segment is expected to be the largest during the forecast period

The ceramic capacitor segment is estimated to have a lucrative growth, due to its great stability and capacitance and their capacity to counteract the effects of temperature, ceramic capacitors can function at high temperatures. As a result, they are frequently utilised as a resonant circuit for non-contact charging equipment as well as a smoothing snubber for electric car and hybrid electric vehicle motor drive inverters. A reliable operation of electronic circuits is also ensured by MLCCs, which are crucial electronic components. As a result, they are frequently found in consumer electronics like smart phones, laptops, and tablets.

The pole-mounted capacitor Banks segment is expected to have the highest CAGR during the forecast period

The pole-mounted capacitor segment is anticipated to witness the highest CAGR growth during the forecast period, due to the capacity to be repaired or automated in a single step. These banks provide a number of advantages, including better voltage management and power factor, a straightforward design, affordable equipment, and a smaller installation footprint. As a result, they are used in applications for large industrial loads, induction furnaces, distribution transformers, and agricultural loads. By adopting a pole-mount framework, these capacitor banks may be mounted at great heights above the ground to transfer electricity over great distances. The pole-mounted sector is anticipated to see the greatest CAGR throughout the projection period as a result.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the best option for reducing power loss and increasing efficiency during long-distance point-to-point power transmission in the area, additionally, the market is expanding as a result of the region's increasing industrial change. Further, the region is investing significantly in the HVDC transmission lines in recent years, which have attracted foreign vendors and has also boosted the local manufacturer's growth.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to their rapid adoption of HVDC transmission systems; the area is among the top investors and adopters in the industry under study. For instance, to increase the transmission capacity and network stability, residential, commercial, and industrial users in the United States continue to promote the adoption of HVDC capacitors. Additionally, The rising trend of real-time monitoring of energy consumption, coupled with high automation level in smart factories across the region, have permitted real-time monitoring of energy-consuming equipment, including HVAC, which is anticipated to aid the market growth over the forecast period.



Key players in the market

Some of the key players profiled in the HVDC Capacitor Market include ABB Ltd, Eaton Corporation PLC, Maxwell Technologies Inc, RTDS Technologies Inc., Alstom SA, Siemens AG, Vishay Intertechnology Inc, AVX Corporation, TDK Corporation, Sieyuan Electric Co. Ltd, General Atomics, Inc., Hitachi Ltd., General Electric Company, Murata Manufacturing, ELECTRONICON Kondensatoren GmbH, YAGEO Corporation and International Capacitors, S.A.

Key Developments:

In June 2022, Hitachi Energy, a subsidiary of Hitachi, Ltd., collaborated with Petrofac, a leading international service provider to the energy industry, to provide joint grid integration and associated infrastructure to support the rapidly growing offshore wind market.

In May 2022, TDK Corporation is expected to construct a new production building on the premises of the Kitakami Factory (Kitakami city, Japan) of TDK Electronics Factories Corporation to enhance multilayer ceramic capacitors production.

In November 2021, Vishay Intertechnology, Inc. launched a new line of vPolyTan surface-mount polymer tantalum molded chip capacitors designed to work reliably in high-temperature and high-humidity environments. The capacitors have a strong design with improved hermeticity for greater protection in hostile situations.

Product Types Covered:
• Ceramic Capacitors
• Plastic Film Capacitors
• Aluminum Electrolytic Capacitors
• Tantalum Wet Capacitors
• Reconstituted Mica Paper Capacitor
• Glass Capacitor
• Other Product Types

Technologies Covered:
• Voltage-Source Converter (VSC)
• Line-Commutated Converter (LCC)

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

Applications Covered:
• Heavy Manufacturing
• Steel Manufacturing
• Mining
• Petrochemical
• Power Distribution
• Power Transmission
• Renewable Power Generation

End Users Covered:
• Commercial
• Energy and Power
• Industrial
• Aerospace and Defense
• Other End Users

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 2021, 2022, 2023, 2026, and 2030
- 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 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 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 HVDC Capacitor Market, By Product Type
5.1 Introduction
5.2 Ceramic Capacitors
5.3 Plastic Film Capacitors
5.4 Aluminum Electrolytic Capacitors
5.5 Tantalum Wet Capacitors
5.6 Reconstituted Mica Paper Capacitor
5.7 Glass Capacitor
5.8 Other Product Types

6 Global HVDC Capacitor Market, By Technology
6.1 Introduction
6.2 Voltage-Source Converter (VSC)
6.3 Line-Commutated Converter (LCC)

7 Global HVDC Capacitor Market, By Installation Type
7.1 Introduction
7.2 Open Rack Capacitor Banks
7.2.1 Externally Fused Capacitor Banks
7.2.2 Externally Fused Capacitor Banks
7.2.3 Fuseless Capacitor Banks
7.3 Enclosed Rack Capacitor Banks
7.3.1 Automatic Capacitor Banks
7.3.2 Fixed Capacitor Banks
7.4 Pole-Mounted Capacitor Banks

8 Global HVDC Capacitor Market, By Application
8.1 Introduction
8.2 Heavy Manufacturing
8.3 Steel Manufacturing
8.4 Mining
8.5 Petrochemical
8.6 Power Distribution
8.7 Power Transmission
8.8 Renewable Power Generation

9 Global HVDC Capacitor Market, By End User
9.1 Introduction
9.2 Commercial
9.3 Energy and Power
9.4 Industrial
9.5 Aerospace and Defense
9.6 Other End Users

10 Global HVDC Capacitor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 ABB Ltd
12.2 Eaton Corporation PLC
12.3 Maxwell Technologies Inc
12.4 RTDS Technologies Inc.
12.5 Alstom SA
12.6 Siemens AG
12.7 Vishay Intertechnology Inc
12.8 AVX Corporation
12.9 TDK Corporation
12.10 Sieyuan Electric Co. Ltd
12.11 General Atomics, Inc.
12.12 Hitachi Ltd.
12.13 General Electric Company
12.14 Murata Manufacturing
12.15 ELECTRONICON Kondensatoren GmbH
12.16 YAGEO Corporation
12.17 International Capacitors, S.A.

List of Tables
1 Global HVDC Capacitor Market Outlook, By Region (2021-2030) ($MN)
2 Global HVDC Capacitor Market Outlook, By Product Type (2021-2030) ($MN)
3 Global HVDC Capacitor Market Outlook, By Ceramic Capacitors (2021-2030) ($MN)
4 Global HVDC Capacitor Market Outlook, By Plastic Film Capacitors (2021-2030) ($MN)
5 Global HVDC Capacitor Market Outlook, By Aluminum Electrolytic Capacitors (2021-2030) ($MN)
6 Global HVDC Capacitor Market Outlook, By Tantalum Wet Capacitors (2021-2030) ($MN)
7 Global HVDC Capacitor Market Outlook, By Reconstituted Mica Paper Capacitor (2021-2030) ($MN)
8 Global HVDC Capacitor Market Outlook, By Glass Capacitor (2021-2030) ($MN)
9 Global HVDC Capacitor Market Outlook, By Other Product Types (2021-2030) ($MN)
10 Global HVDC Capacitor Market Outlook, By Technology (2021-2030) ($MN)
10 Global HVDC Capacitor Market Outlook, By Voltage-Source Converter (VSC) (2021-2030) ($MN)
12 Global HVDC Capacitor Market Outlook, By Line-Commutated Converter (LCC) (2021-2030) ($MN)
13 Global HVDC Capacitor Market Outlook, By Installation Type (2021-2030) ($MN)
14 Global HVDC Capacitor Market Outlook, By Open Rack Capacitor Banks (2021-2030) ($MN)
15 Global HVDC Capacitor Market Outlook, By Externally Fused Capacitor Banks (2021-2030) ($MN)
16 Global HVDC Capacitor Market Outlook, By Externally Fused Capacitor Banks (2021-2030) ($MN)
17 Global HVDC Capacitor Market Outlook, By Fuseless Capacitor Banks (2021-2030) ($MN)
18 Global HVDC Capacitor Market Outlook, By Enclosed Rack Capacitor Banks (2021-2030) ($MN)
19 Global HVDC Capacitor Market Outlook, By Automatic Capacitor Banks (2021-2030) ($MN)
20 Global HVDC Capacitor Market Outlook, By Fixed Capacitor Banks (2021-2030) ($MN)
21 Global HVDC Capacitor Market Outlook, By Pole-Mounted Capacitor Banks (2021-2030) ($MN)
22 Global HVDC Capacitor Market Outlook, By Application (2021-2030) ($MN)
23 Global HVDC Capacitor Market Outlook, By Heavy Manufacturing (2021-2030) ($MN)
24 Global HVDC Capacitor Market Outlook, By Steel Manufacturing (2021-2030) ($MN)
25 Global HVDC Capacitor Market Outlook, By Mining (2021-2030) ($MN)
26 Global HVDC Capacitor Market Outlook, By Petrochemical (2021-2030) ($MN)
27 Global HVDC Capacitor Market Outlook, By Power Distribution (2021-2030) ($MN)
28 Global HVDC Capacitor Market Outlook, By Power Transmission (2021-2030) ($MN)
29 Global HVDC Capacitor Market Outlook, By Renewable Power Generation (2021-2030) ($MN)
30 Global HVDC Capacitor Market Outlook, By End User (2021-2030) ($MN)
31 Global HVDC Capacitor Market Outlook, By Commercial (2021-2030) ($MN)
32 Global HVDC Capacitor Market Outlook, By Energy and Power (2021-2030) ($MN)
33 Global HVDC Capacitor Market Outlook, By Industrial (2021-2030) ($MN)
34 Global HVDC Capacitor Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
35 Global HVDC Capacitor Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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