According to a new report published by Allied Market Research, titled,"High Voltage Capacitor Market by Dielectric, Capacity and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global high voltage capacitor market was valued at $1,779.90 million in 2017 and is projected to reach $3,307.10 million by 2025, growing at a CAGR of 8.0% from 2018 to 2025. 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 that is also known as an insulator. Capacitors are broadly employed in electrical energy systems and components. High voltage (HV) capacitors are passive electronic that consist of two conducting plates separated by an insulating material called the dielectric. High Voltage Capacitors are responsible for storing charge and energy for use in high voltage applications.
High voltage capacitors market is experiencing significant growth due to increase in their demand from end-use industries, such as electronics & semiconductor. High voltage capacitors are used in these industries owing to their high-temperature stability & outstanding insulation properties. . They are also used for other applications such as automotive industry and wear parts, chemical & process technology, medical, and others. However, variability in cost of raw materials such as plastic, and high voltage hazards related to the high voltage capacitors, are anticipated to hinder the market growth during the forecast period. On the contrary, continuous advancements and innovation in the energy and power sector are anticipated to create lucrative opportunities during the forecast period.
The global high voltage capacitors market is segmented based on dielectric, application, capacity, and region. In accordance with dielectric, the market can be categorized intoplastic film, ceramic, aluminum, electrolytic, and others. The plastic film high voltage capacitor is estimated to account for a major share in the global high voltage capacitor market. This is attributed to the growth in manufacture and sale of consumer electronics such as smartphone, laptops, cellphones, digital cameras, which is projected to boost the demand for plastic film capacitor.
The applications covered in the study comprise power generation, transmission, distribution, and others. The power transmission segment accounts for a major share in the global high voltage capacitor market due to growth in use of high voltage capacitors in the power transmission application.
Based on capacity, the market is classified as 500-1000V, 1001-7000V, 7001-14000V, and above 14000V. The 500-1000V capacitors is estimated to account for a major share owing to rise in its use in industrial electronics, power supplies, and high-end electronics. Internally and externally fused capacitors, ceramic capacitors, and aluminum electrolyte capacitors are the examples of the capacitors in this range.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounts for a major share in the global high voltage capacitor market due to rise in industrialization and increase in demand for electricity from end use industries such as automotive, information technology, and textile. Initiatives by governments across India and China to increase the electrification rate by expanding the electricity distribution infrastructure are expected to drive the demand for high voltage capacitor, especially in the power grid infrastructure.
Key Findings of the High Voltage Capacitor Market:
- The Asia-Pacific high voltage capacitors market is projected to grow at a highest CAGR of nearly 7.50%, in terms of revenue, during the forecast period.
- The European high voltage capacitor market is anticipated to witness moderate growth rate of 9.90%, in terms of revenue, during the forecast period.
- North America dominated the high voltage capacitor market with a revenue share of over 17.73% in 2017.
Market players have adopted agreement, acquisition, collaboration, partnership, expansion, and product & technology launch to gain competitive advantage in this market. The key players profiled in this report include General Electric, ABB Ltd., TDK Corporation, AVX Corporation, Maxwell Technologies, Siemens AG, Arteche Group, Presco AS, Vishay Intertechnology Inc., and Lifasa. For instance, TDK corporation launched High Voltage EPCOS Y2 Film Capacitor Series for EMI suppression. This new series is designed for rated voltages of 300V AC, and offers a permissible rated voltage of 350V AC.