Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Global HVDC Capacitor Market by Product Type (Ceramic Capacitors, Plastic Film Capacitors), Technology, Installation Type (Open Rack Capacitor Banks, Enclosed Rack Capacitor Banks), Application (Industrial, Commercial) and Region - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The global HVDC capacitor market was valued at 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 growth of HVDC projects for long-distance electricity transmission, renewable energy integration, and power grid interconnection can greatly drive the HVDC capacitor market. Moreover, HVDC systems are increasingly used with energy storage options to control peak demand, store excess energy, and provide grid stabilization services.
Key players operating in the HVDC Capacitor Market are Hitachi, Ltd. (Japan), General Electric (US), TDK Corporation (Japan), Eaton (US), KYOCERA Corporation (Japan), YAGEO Corporation (Taiwan), Vishay Intertechnology, Inc. (US). The energy and power application segment in the High-Voltage Direct Current (HVDC) capacitor market is driven by many important aspects such as Renewable Energy Integration, Long-Distance Transmission, Grid Interconnections, Grid Stabilization and Power Quality, and Energy Storage Integration.
The ceramic capacitor product type is projected to grow at the highest CAGR during the forecast period.
HVDC ceramic capacitors are projected to grow at the highest CAGR during the forecast period owing to the increased adoption of these capacitors in the automotive, transportation, consumer electronics, healthcare, energy and power, and telecommunications industries. Ceramic capacitors are well-known for their exceptional stability and low loss levels. They are not polarized and can be connected to both AC and DC power sources. They can also be downsized and produced in mass quantities. They can also tolerate voltage fluctuations. As a result, they are used in resonant circuits in transmission stations, bypass filters, coupling or decoupling, and oscillators.
The Voltage-Source Converter (VSC) technology is projected to grow at the highest CAGR during the forecast period.
The Voltage-Source Converter (VSC) technology will likely grow at the highest CAGR during the forecast period. VSC is a newer technology based on power transistors. In this technology, the reactive power compensation system is not required to supply reactive power to the grid. It operates at very low or almost zero power for transmitting reactive power. It reduces commutation risk failure due to low voltage requirements. Moreover, it is an ideal technology for submarine/land cable interconnection, integrating renewables, offshore, and urban infeed applications.
Asia Pacific region is likely to grow at the highest CAGR.
The Asia Pacific region has undergone remarkable economic advancement, urban development, and a surge in energy requirements. These elements, along with others, play a significant role in propelling the growth of the HVDC capacitor market in this area. When considering Asia Pacific, the emphasis is primarily on countries like China, Japan, India, and the rest of the region. China and India particularly stand out as major players in the HVDC capacitor market within this region. Due to their dense populations and the need to satisfy escalating energy needs, these nations are substantial electricity producers. Both countries are actively prioritizing the expansion of their energy generation infrastructure.
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 the Environment
Opportunities
- Rising Adoption of HVDC Capacitors by Industrial Consumers in Asia-Pacific
- Growing Demand for Electric Vehicles
Challenges
- Catastrophic Explosion of Capacitor Banks
Technology Analysis
- HVDC Technology
- Flat Winding Technology
- HVDC Power Film Technology
Case Study Analysis
- General Electric Signs Contract with Tennet for Innovative 2 Gw Program
- Eaton Enables Smart Predictive Electrical Maintenance for Commercial and Industrial End-users
- TDK Corporation Expands Manufacturing Facility to Enhance Multilayer Ceramic Capacitors (Mlcc)
- Hitachi Energy Helps Transgrid Improve Power Quality of Qni
- Hitachi Abb Power Grids Helps Minnesota Power Increase Availability of Clean Power to Its Customers
Companies Mentioned
- API Capacitors
- Condis
- Eaton
- Electronicon Kondensatoren GmbH
- General Atomics
- General Electric
- Hitachi, Ltd.
- HVP High Voltage Products GmbH
- Isofarad Kft.
- Kunshan Guoli Electronic Technology Co., Ltd.
- Kyocera Corporation
- Lifasa, International Capacitors, S.A.U
- Samwha Capacitor Group
- Shanghai Yongming Electronic Co., Ltd.
- Sieyuan Electric Co., Ltd.
- TDK Corporation
- Vishay Intertechnology, Inc.
- Wuxi Cre New Energy Technology Co., Ltd.
- Yageo Group
- ZEZ Silko
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 238 |
| Forecast Period | 2023 - 2031 |
| Estimated Market Value (USD) in 2023 | $6.4 Billion |
| Forecasted Market Value (USD) by 2031 | $17.9 Billion |
| Compound Annual Growth Rate | 13.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/hzx4ub
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