High Voltage Capacitors Market to Grow with a CAGR of 9.19% through 2028
Increasing demand for high-voltage capacitors in power
transmission & distribution and rising demand for high-voltage capacitors
in industrial automation are likely to drive the market in the forecast period.
According to TechSci Research report, “High Voltage
Capacitors Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global High Voltage Capacitors
Market stood at USD 10.08 billion in 2022 and is anticipated to grow with a
CAGR of 9.19% in the forecast period. One significant driver of the global High
Voltage Capacitors market is the rapid integration of renewable energy sources
into the global energy grid. With the increasing focus on sustainability and
the reduction of greenhouse gas emissions, renewable energy technologies like
wind and solar power are gaining prominence. High Voltage Capacitors play a
crucial role in renewable energy systems. They are used in various
applications, including power factor correction, voltage stabilization, and
energy storage within wind turbines, solar inverters, and other renewable
energy infrastructure. High Voltage Capacitors help ensure the efficient
conversion and transmission of electricity generated from renewable sources. As
governments worldwide implement policies and incentives to promote renewable
energy adoption, the demand for High Voltage Capacitors continues to rise. The
transition toward cleaner energy sources drives investments in renewable energy
projects, resulting in significant growth opportunities for High Voltage
Capacitor manufacturers. Companies in this sector are actively innovating to
develop capacitors that meet the stringent requirements of renewable energy
applications, further propelling market expansion.
The accelerating
electrification of transportation is another key driver of the global High
Voltage Capacitors market. Electric vehicles (EVs) are becoming increasingly
popular due to environmental concerns, improved battery technology, and
government incentives to reduce carbon emissions from the automotive sector. High
Voltage Capacitors are integral components in EVs, where they serve critical
roles in energy storage and power management. They enable rapid charging and
discharging of energy, ensuring efficient vehicle performance. Additionally,
High Voltage Capacitors are used in electric drivetrains and power electronics
to facilitate the conversion of electrical energy from batteries into
mechanical energy to drive the vehicle. As governments around the world
implement policies to encourage EV adoption, such as tax incentives and
emission reduction targets, the demand for High Voltage Capacitors in the
automotive sector continues to surge. Capacitor manufacturers are actively
developing advanced capacitor technologies that can handle the high voltage and
energy storage requirements of electric vehicles, making them pivotal players
in the transition toward cleaner and more sustainable transportation solutions.
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The Global High Voltage Capacitors Market is segmented
into dielectric, capacity, application and region.Based on dielectric, The Plastic Film Capacitor segment
had the largest market share in 2022 & expected to maintain it in the
forecast period. Plastic Film Capacitors are known for their exceptional
reliability and durability, especially when subjected to high voltage and
temperature conditions. They have a long operational lifespan and can withstand
a wide range of environmental stresses, making them ideal for applications
where reliability is critical, such as in power distribution, renewable energy
systems, and industrial machinery. Plastic Film Capacitors are available with
high voltage ratings, making them suitable for applications that require
capacitors to handle elevated voltage levels. This characteristic is
particularly important in the global High Voltage Capacitors market, where the
demand for capacitors capable of withstanding high voltages is substantial,
such as in power factor correction, voltage regulation, and energy storage. Plastic
Film Capacitors offer versatility through the availability of various
dielectric materials, including polypropylene (PP), polyester (PET), and
polyethylene terephthalate (PET), among others. These different dielectric
materials provide flexibility for designers to choose the most suitable option
for specific applications, tailoring the capacitors to meet performance and
voltage requirements effectively. Plastic Film Capacitors typically exhibit a
low dissipation factor, which means they have minimal energy losses when
storing and discharging electrical energy. This low dissipation factor
contributes to their efficiency and effectiveness in high voltage applications,
where energy conservation and minimal heat generation are crucial.
Based on capacity,
The 500-1000V segment
had the largest market share in 2022 and is projected to experience rapid
growth during the forecast period. Capacitors in the 500-1000V range are often
used in applications where moderate voltage levels are required. These
applications may include power factor correction in industrial settings,
lighting ballasts, motor starting, and some commercial power electronics
applications. In these scenarios, the voltage requirements are not as high as
in ultra-high voltage applications, and 500-1000V capacitors can adequately
meet the needs. While the revenue generated by 500-1000V capacitors might not
be as high as that of higher voltage ranges, the market volume can still be
significant. These capacitors are used in various industries and applications,
contributing to their prevalence in terms of quantity. The 500-1000V range
covers a broad spectrum of applications across different industries. As a
result, they are versatile and can find use in areas such as manufacturing,
HVAC (heating, ventilation, and air conditioning), lighting, and small to
medium-sized industrial machinery. Capacitors in the 500-1000V range are often
readily available, cost-effective, and easier to integrate into systems
compared to higher voltage capacitors. This makes them a convenient choice for
applications where extreme voltage levels are not necessary.
Major companies operating in the Global High
Voltage Capacitors Market are:
- ABB Ltd
- Siemens
AG
- Schneider
Electric SE
- Maxwell
Technologies Inc
- Vishay
Intertechnology Inc
- TDK Corporation
- TDK
Electronics AG
- American
Technical Ceramics Corporation
- Littelfuse
Inc
- AVX Corporation
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“The Global High Voltage Capacitors market is expected
to rise in the upcoming years and register a significant CAGR during the
forecast period. High-voltage capacitors are used to improve the power factor
and reduce power losses in power transmission and distribution systems. The
increasing demand for electricity and the need to improve the efficiency of
power transmission and distribution systems are driving the demand for
high-voltage capacitors in this market. High-voltage capacitors are used in
renewable energy systems, such as solar and wind power plants, to store energy
and improve the efficiency of the system. The increasing demand for renewable
energy and the need to store energy are driving the demand for high-voltage
capacitors in this market. Therefore, the market of High Voltage Capacitors is
expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“High Voltage Capacitors Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented
By Dielectric (Plastic Film Capacitor, Ceramic Capacitor, Aluminum Electrolytic
Capacitor, and Others), By Capacity (500-1000V, 1001-7000V, 7001-14000V, and
Above 14000V), By Application (Power Generation, Transmission, Distribution,
and Others), By Region, By
Competition”, has evaluated the future growth potential of Global High Voltage
Capacitors Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global High Voltage Capacitors
Market.
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