The high voltage capacitor market is projected to reach $30.3 billion by 2030, growing at a CAGR of 9.9% from 2021 to 2030. A capacitor is a dual-terminal electrical component utilized to store energy electrostatically in an electronic field. The arrangements of capacitors differ; however, each includes at least two electrical conductors detached by a dielectric, which is also known as an insulator. Capacitors are broadly employed in electrical energy systems and components.
Factors contributing toward the growth of the high voltage capacitor market include increase in requirement to enhance grid infrastructure for increasing the electricity accessibility, and others. The renewable energy market is expected to grow at a CAGR of 8.4%. However, the renewable energy industry was negatively hampered due to spread of COVID-19 which affected the demand for high voltage capacitors. COVD-19 has resulted in project delays especially in developing countries. This was attributed due to decreased government spending and hindered revenue streams of government.
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On the basis of dielectric, the ceramic capacitors segment garnered 16.7% in terms of revenue and expected to grow at CAGR of 11.9% during the forecast period. This is attributed to increased demand from industrial, military application and others. In addition, there is increased demand for multilayer ceramic capacitors.
On the basis of capacity, the 500-1000V segment garnered 17.6% in terms of revenue and is anticipated to grow at a CAGR of 8.9% during the forecast period. On the basis of application, the power generation segment garnered 36.2% in terms of revenue and expected to grow at a CAGR of 11.2% during the forecast period.
On the basis of region, the Asia-Pacific region garnered 23.7% share in terms of revenue and anticipated to grow at a CAGR of 11.6% during the forecast period. This is attributed to numerous factors such as presence of established players, and rising electricity demand owing to growth of industrial sector and population especially in India and China.
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The high voltage capacitor market is segmented into dielectric, capacity, application, and region. On the basis of dielectric, the market is fragmented into plastic film capacitor, ceramic capacitor, aluminum electrolytic capacitor, and others. By capacity, the high voltage capacitor market is analyzed cross 500-1000V, 1001-7000V, 7001-14000V, above 14000. On the basis of application, the high voltage capacitor market is divided into power generation, distribution, transmission, and others. Region-wise, the market of high voltage capacitor is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The high voltage capacitor market share is analyzed across all significant regions and countries and segments.
The high voltage capacitor market analysis covers in-depth information of the major industry participants. Some of the major players in the high voltage capacitor market include ABB Ltd, AVX Corporation, General Electric, Lifasa, Maxwell Technologies, Presco AG, Siemens AG, TDK Corporation, Vishay Intertechnology, Inc, Eaton (COOPER), General Atomics, Inc., Murata Manufacturing, Hitachi Ltd., Samwha Capacitor Co Ltd, and UCAP Power, Inc.
Other players in the high voltage capacitor market are Jiande Haihua Electric Co., Ltd, Zhejiang Yide Technology Co., Ltd., RTDS Technologies, Sieyuan Electric, and others.
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Impact of COVID-19 on the High Voltage Capacitor Market
- The Covid-19 pandemic negatively affected the manufacturing and industrial activities across the globe. The lockdown and international restriction in import and export created challenges for raw material procurement.
- The revenue streams of governments of several countries were hampered, which decreased demand for high voltage capacitors.
- However, as the world is slowly recovering from the pandemic, the government funded transmission and distribution projects would resume, which will help the market get back on track.