High Voltage Direct Current (HVDC) Capacitor Market Expected to Reach $17.96 Billion By 2030

According to a new report published by Allied Market Research, titled, “High Voltage Direct Current (HVDC) Capacitor Market by Type, Technology, Installation Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global high voltage direct current (HVDC) capacitor market size was valued at $4.73 billion in 2020, and is projected to reach $17.96 billion by 2030, growing at a CAGR of 15.1% from 2021 to 2030.

High voltage direct current (HVDC) capacitors are intended to be used in applications where high current pulses are produced, such as in HVDC transmission systems. HVDC capacitors are discovering applications in power transmission for connecting users with sustainable power sources, such as remote solar power generation plants and offshore wind turbines. It also finds numerous applications owing to growing power loss concerns. 

Some of the major drivers of the high voltage direct current (HVDC) capacitor industry are demand to enhance grid infrastructure for increasing the electricity accessibility, and increasing adoption of high voltage capacitors in extra high voltage (EHV) and ultra-high voltage (UHV) transmission. These factors are estimated to fuel the market growth rapidly during the forecast period. However, high voltage hazards related to the HVDC capacitor acts as a major barrier for the high voltage direct current (HVDC) capacitor market growth. Contradictory, innovation in energy & power sector creates lucrative opportunities for the market growth during the forecast period.

COVID-19 Impact Analysis

Economic impact of the coronavirus pandemic has been largely disruptive. COVID-19 not only impacted the operations of various high voltage direct current capacitor manufacturers, but also affected businesses of their suppliers and distributers. The key market players witnessed a significant short-term negative impact on revenues, operating income, income before income taxes and net income. 

Region wise, North America holds a significant share in the global high voltage direct current (HVDC) capacitor market. In this region, the countries are spending heavily for developing the offshore wind farm sector, low-cost long-distance transmission systems, high controllability and low short circuit current. This factor is expected to boost the growth of the high voltage direct current (HVDC) capacitor market.

Key Findings Of The Study

• In 2020, the plastic film capacitor segment accounted for maximum revenue and is projected to grow at a notable CAGR of 14.4% during the forecast period.

• The open rack capacitor banks segment accounted for more than 40.0% of the high voltage direct current (HVDC) capacitor market share in 2020.
• The energy & power segment of the high voltage direct current (HVDC) capacitor market trends is projected to grow at a CAGR of 14.7% during the forecast period.
• The plastic film capacitor and ceramic capacitor together contribute more than 70.0% of the HVDC capacitor market share.
• North America contributed a major share in the high voltage direct current (HVDC) capacitor market analysis, accounting for more than 30.0% share in 2020.

The key players profiled in the report include Amplitude Systemes, Eaton Corporation PLC, General Atomics, Inc., General Electric Company, Hitachi Ltd., Murata Manufacturing, Samwha Capacitor Co Ltd., Siemens AG, TDK Corporation, UCAP Power, Inc., and Vishay Intertechnology. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the high voltage direct current (HVDC) capacitor market.