HVDC Capacitor Market expands with the rise in world population

HVDC Capacitors: Introduction

  • HVDC stands for high-voltage direct current. The technology is used to transmit electricity over a long distance by using an overhead transmission wire.
  • The HVDC technology is preferred over the HVAC technology. In HVDC systems, power flow can be controlled instantly and accurately, in terms of direction as well as power. In addition, HVDC systems offer higher efficiency and lower electric losses compared to HVAC systems.
  • HVDC capacitors are designed to be used in DC supplies or electronic equipment. They are also used in applications wherein high current pulses are produced.
  • Types of HVDC capacitors include aluminum electrolyte capacitors, ceramic capacitors, glass capacitors, plastic film capacitors, reconstituted mica capacitors, and tantalum wet capacitors.
  • HVDC capacitors are employed in various end-use sectors such as commercial, industrial, energy & utilities, and defense.

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Rise in Demand for HVDC Capacitors for Use in Power Transmission

  • Based on end-use industry, the global HVDC capacitor market can be segmented into commercial, industrial, energy & utilities, and defense
  • HVDC capacitors are largely used in power transmission systems, as they can control power flow instantly and precisely
  • Moreover, HVDC systems have lower impact on the environment than HVAC systems, as transmission lines used in HVDC systems are less in number and they require less space for transmitting the same amount of energy
  • Furthermore, installation of HVDC towers and transmission lines is less expensive, as a few lines are required in HVDC systems. Hence, HVDC capacitors are increasingly used in power transmission systems across the globe.
  • HVDC capacitors are used in power distribution systems to decrease the possibility of short-circuit current by controlling the power flow rapidly. As a result of these advantages, the demand for HVDC capacitors for use in power transmission is increasing. This is expected to drive the global HVDC capacitor market during the forecast period.

Increase in Favorable Government Initiatives for HVDC Systems to Offer Lucrative Opportunities to Global Market

  • Governments of developed countries such as the U.S., the U.K., and Germany are focusing on the upgrade and replacement of the existing power infrastructure. In addition, several countries in Europe and Asia Pacific are focusing on adoption of renewable energy sources, such as solar and wind power, which have emerged as attractive sectors for investments for organizations across the globe.
  • In 2017, ABB Company, a Switzerland-based player, bagged a deal worth US$ 640 Mn to supply a long-distance power transmission link to India so as to provide electricity to over 80 million people. This is expected to propel the HVDC capacitor market in India during the forecast period.
  • Thus, increase in favorable government initiatives for HVDC systems is expected to offer lucrative opportunities to the global HVDC capacitor market during the forecast period

Asia Pacific to Lead Global Market

  • In terms of region, the global HVDC capacitor market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
  • Asia Pacific is anticipated to dominate the global HVDC capacitor market throughout the forecast period, owing to increase in industrialization and urbanization in countries such as China and India
  • The HVDC capacitor market in North America and Europe is expected to expand at a substantial rate during the forecast period. However, the market in Middle East & Africa and South America is estimated to expand at a moderate rate during the forecast period.

Key Players Operating in Global Market

The global HVDC capacitor market was highly fragmented in 2018. Major players operating in the global market are focusing on technological advancements and expansions to meet the risen demand for HVDC capacitors. Moreover, manufacturers are entering into partnerships for the development of innovative products.

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Key players operating in the global HVDC capacitor market are:

  • ABB
  • Alstom SA
  • Eaton Corporation
  • Epcos AG
  • General Atomics, Inc.
  • LIFASA, International Capacitors, S.A.
  • Maxwell Technologies Inc.
  • RTDS Technologies
  • Siemens
  • Transgrid Solutions
  • Vishay Intertechnology Inc.

Global HVDC Capacitor Market: Research Scope

Global HVDC Capacitor Market, by Type

  • Aluminum Electrolyte
  • Ceramic
  • Glass
  • Plastic Film
  • Reconstituted Mica
  • Tantalum Wet

Global HVDC Capacitor Market, by Technology

  • Line Commutated Converter
  • Voltage Source Converter
  • Others

Global HVDC Capacitor Market, by Installation Type

  • Open-rack Capacitor Banks
  • Enclosed-rack Capacitor Banks
  • Pole-mounted Capacitor Banks

Global HVDC Capacitor Market, by End-use Industry

  • Commercial
  • Industrial
  • Energy & Utilities
  • Defense
  • Others

Global HVDC Capacitor Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?