According to a new market research report “HVDC Capacitor Market by Type (Plastic Film, Aluminum Electrolyte, Ceramic, Tantalum Wet, Reconstituted Mica, Glass), Technology (LCC, VSC), Installation (Open Rack, Enclosed Rack, Pole Mounted Capacitor Banks), Application & Geography - Global Trends & Forecast to 2013 - 2020”, published by MarketsandMarkets, the total market was valued at $1,310.00 million in 2013 and is expected to reach 3,890.00 million by 2020, at an estimated CAGR of 16.02% from 2014 to 2020.
Browse 87 market data tables and 71 figures spread through 245 pages and in-depth TOC on “HVDC Capacitor Market”.
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Over the last two decades, HVDC capacitor has become a dominating technology for bulk power transmission over long distances. The government initiatives toward energy trade and interconnecting the power grid is expected to boost the deployment of the HVDC grid across the globe. The types of the HVDC capacitor technologies covered in the report are Line Commutated Converter, Voltage Source Converter, and others. In the HVDC capacitor market by technology, the Line Commutated Converter (LCC) technology accounted for the major share worth 59% in 2013. Market opportunities for the Voltage Source Converter (VSC) technology, which is more compact and enables renewable energy, are expected to increase over the next few years.
The report covers the key application sectors of the HVDC capacitor market, which include commercial, industrial, energy and power, defense, and other sectors. Among all the applications, the energy and power sector is expected to be the largest contributor to the overall HVDC capacitor market, holding ~50% share.
The HVDC capacitor market for geographic regions such as Americas, Europe, Asia-Pacific, and the Rest of the World (RoW) have also been included in the report. Europe was the largest geography in terms of market size for the HVDC capacitor market. APAC, Europe, and RoW are also considered as promising markets, along with China, Japan, India, and Australia, which provide impetus to the growth.
The major drivers for the growth of the HVDC capacitor market are supportive government regulations, need for improved stability, and low transmission losses in the existing power infrastructure along with demand driven by smaller, niche end-user segments. There are some restraining factors for the market, such as high infrastructure cost and lack of standardization. The HVDC capacitor industry is growing rapidly due to the growth of infrastructure and automation, which are the key opportunities for the HVDC capacitor market.
The report profiles promising major players with a SWOT analysis of key players in the HVDC capacitor market. The competitive landscape of the market presents an interesting picture, where a large number of small players have become a force to reckon with. The market witnesses a series of new product launch announcement and partnership across the value chain.
The report also discusses the future of the global market with road-map, upcoming technologies, markets, and applications with respect to HVDC capacitors. The HVDC capacitor market is rapidly growing in the renewable energy sector, which represent potential end-users for this market. Key players in this industry include ABB Ltd. (Switzerland), Epcos AG (Germany), Siemens Energy (Germany), Alstom SA (France), Toshiba (Japan), and others.
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