What Has Been the Growth Trajectory of the High Voltage Capacitor Market?
The high voltage capacitor market has seen considerable growth due to a variety of factors.
• The market size of the high voltage capacitor has witnessed significant growth in the previous years. It's set to increase from $1.77 billion in 2024 to $1.86 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.0%.
The expansion during the historic period is a result of the growing demand for electrical grid infrastructure, enhanced power generation, rise in the integration of renewable energy, and increased research and development efforts.
What Does the Future Hold for the High Voltage Capacitor Market?
The high voltage capacitor market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high that the market size for high voltage capacitors will exhibit strong growth in the coming years. It's projected that by 2029, it'll expand to a worth of $2.3 billion, with a compound annual growth rate (CAGR) of 5.4%.
This growth during the predicted period is attributable to factors such as the rise in electric vehicles (evs), the upscaling of high voltage direct current (hvdc), burgeoning integration of renewable energy, and a growing adoption of industrial automation, in addition to improvements in power quality. Key trends anticipated during this forecast period encompass the trend towards miniaturization, dc link capacitors, advancements in power electronics and materials, smart grids, and customizations and specialized applications.
What Are the Critical Driver Fuelling the High Voltage Capacitor Market's Growth?
The acceleration in the need for electricity is spurring the expansion of the high voltage capacitor market. Expectations point to a significant rise in the demand for electrical capacitors, primarily driven by consistent increase in the demand for consumer electronics and IT hardware. Additionally, the use of electrical circuitry in a range of applications lends to their demand. Grid infrastructure utilizes multilayer ceramic capacitors to enhance access to electricity, thereby stimulating the market. For example, the International Energy Agency (IEA) has stated that with increased consumption, India's electricity demand is set to ascend at a rate of 6.5% annually from 2022 to 2024. Consequently, it is predicted that the global high-voltage capacitor market will be propelled by this heightened demand for electricity.
How Is the High Voltage Capacitor Market segmented?
The high voltage capacitor market covered in this report is segmented –
1) By Type: High Voltage Plastic Film Capacitors, High Voltage Aluminum Electrolytic Capacitors, High Voltage Ceramic Capacitors, Other High Voltage Capacitors
2) By Capacity: 500-1000V, 1001-7000V, 7001-14000V, Above 14000V
3) By Application: Power Generation, Distribution, Transmission
Subsegments:
1) By High Voltage Plastic Film Capacitors: Polypropylene Film Capacitors, Polyester Film Capacitors
2) By High Voltage Aluminum Electrolytic Capacitors: Radial Aluminum Electrolytic Capacitors, Axial Aluminum Electrolytic Capacitors
3) By High Voltage Ceramic Capacitors: Class 1 Ceramic Capacitors, Class 2 Ceramic Capacitors
4) By Other High Voltage Capacitors: Tantalum Capacitors, Supercapacitors, Paper Capacitors
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What New Trends Are Influencing the High Voltage Capacitor Market?
A growing trend in the high voltage capacitor market is the technological revamping of the aging grid infrastructure. Firms operating in this market are improving and enlarging the old electrical grid to enhance its ability to transport energy from renewable sources, also making the grid more robust. One such example occurred in January 2022 when Yageo Corporation, a Taiwan-based firm known for manufacturing passive electronic components including high voltage capacitors, unveiled its high voltage, high capacitance MLCCs. The Yageo HCV X7R, with the highest capacitance and rated voltage of 47 uF and 100 volts respectively, accommodates case sizes ranging from 0402 to 1210 inches. Yageo dominates the HCV MLCC market, attributing its dominance to its upcoming facility set to kick off in 2023, which will also contribute extra production potential to meet the burgeoning demand.
Who Are the Key Players in the High Voltage Capacitor Market?
Major companies operating in the high voltage capacitor market include:
• Asea Brown Boveri Ltd.
• Siemens AG
• Alstom SA
• Eaton Corporation PLC.
• ZEZ SILKO Ltd.
• AVX Corporation
• International Capacitors SA Lifasa
• Sieyuan Electric Co. Ltd.
• Presco AG
• Vishay Intertechnology Inc.
• GE BE PRIVATE LIMITED.
• Maxwell Technologies.
• TDK Corporation.
• Murata Manufacturing Co. Ltd.
• Hitachi Ltd.
• Nippon Chemi-Con Corporation.
• KYOCERA Corporation
• YAGEO Corporation
• Taiyo Yuden Co. Ltd.
• Panasonic Holdings Corporation.
• KEMET Corporation.
• Darfon Electronics Corporation
• Johanson Technology Inc.
• Cornell Dubilier Electronics Inc.
• Illinois Capacitor Inc.
• Kendeil S.r.l.
• Nichicon Corporation
• Rubycon Corporation
What Is The Most Dominant Region In The High Voltage Capacitor Market?
North America was the largest region in the high voltage capacitor market in 2024. Asia-Pacific is expected to grow at the highest CAGR in the forecast period. The regions covered in the high voltage capacitor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
