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

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

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 rising demand for HVDC transmission systems and 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.

In-depth interviews have been conducted with chief executive officers (CEOs), directors, and other executives from various key organizations operating in the HVDC capacitor marketplace.

By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%

By Designation: C-level Executives – 45%, Directors– 35%, and Others – 20%

By Region: North America – 40%, Europe – 30%, Asia Pacific – 20%, and RoW – 10%

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.

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.

Research Coverage

The report defines, describes, and forecasts the HVDC capacitor market based on product type, technology, installation type, application, and region. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the HVDC capacitor market. It also analyzes product launches, contracts, mergers and acquisitions, expansions, collaborations, and partnerships, carried out by the key players to grow in the market.

Key Benefits of Buying the Report

This report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall HVDC capacitor market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.