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High Voltage Direct Current (HVDC) Capacitor Market - Growth, Trends And Forecast (2020 - 2025)

Published on: Jan 2020 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 110

Market Overview

The High Voltage Direct Current (HVDC) Capacitor Market was valued at USD 5.33 billion in 2019 and is expected to reach USD 12.85 billion by 2025, at a CAGR of 15.8% over the forecast period 2020 - 2025. These capacitors are used in dc supplies or in general purposes applications, particularly in electronic equipment and are useful for applications where high current pulses are produced. Owing to the augmented stability of the conductor, the HVDC capacitor market, is estimated to grow over the forecast period.

- HVDC capacitor technology offers extremely rapid stability control, power flow control, and the ability to segment parts of the power system, all of which enhances the grid’s flexibility, reliability, and resilience. This technological superiority makes them a better choice and augments the demand in the market.
- Applications, such as submarine HVDC networks, are expected to open up new possibilities for power management. HVDC capacitors are being used in subterranean and submarine applications, where overhead lines are impractical and where HVAC capacitors incur higher electrical losses. HVDC has the unique ability to connect asynchronous grids. This capability is projected to bring more value in the future, with the increasing demand for microgrid systems.
- Market growth may be limited due to encroachment, but it may remain a multi-billion market. The strategy of vendors in the western hemisphere is to increase the share of this valuable product line through acquisition, as other vendors look at tantalum type as a liability. Tantalum remains an opportunity for those who better understand the nature of challenges in global markets.
- New products development is a strategy used by vendors for offering improved products and capture emerging demand. For instance, EPCOS AG, a German manufacturer of electronic components recently developed a new power capacitor design in dry technology for the link circuits of high-voltage DC (HVDC) transmission systems that feature a capacitance of 4000 to 5000 _F, designed for application in rated DC voltages of up to 2800 VDC.

Scope of the Report

A high_voltage direct current (HVDC) capacitor is used to transmit over conventional high_voltage alternating current (HVAC) technologies are well established for long_distance, point_to_point power transfers. Although HVDC transmission is a fairly mature technology, recent technological improvements have expanded their capabilities and applicability, in order to address grid challenges.

Key Market Trends

Energy & Power Sector Holds the Major Market Share

- HVDC capacitor suffices the highest electrical and mechanical requirements in the energy and power sector; including the generation, distribution, and transmission of energy caters to diverse industries. They are used for the most diversified applications and can be operated under the most stringent environmental conditions. High voltage power capacitors enhance the transmission capacity, network stability and also contribute to a significant reduction in carbon dioxide emissions.
- The process of electricity generation undergoes various transformations, due to the limited presence of primary energy, which is directly convertible into electricity. This requires a high amount of energy that ascends the consumption, thereby, increasing the need for HVDC capacitors. Such technological limitations in the energy and power sector have allowed the HVDC capacitors to remain relevant and pushed for the demand.
- The demand for electricity in the non-residential sector has been rising over the last decade, owing to new entrants in the manufacturing industry and increasing production activity from various industries, including chemical, electronics, and automotive, which is expected to fuel the market.
- Increasing power generation through the renewable source of energy is expected to witness exponential growth, owing to increasing awareness regarding the environmental impact of fossil fuels, thereby, further propelling the growth of the market.

North America Holds Significant Market Share

- The energy management systems market in the United States remains a major market, as residential, commercial, and industrial consumers continue to drive the adoption of HVDC capacitors, in order to enhance the transmission capacity and network stability.
- The United States is currently ranked as the second-largest consumer of electricity, after China with industrial consumption remaining among the largest. Several key federal policy directives, rising energy costs, stringent regulations concerning greenhouse gas emissions, and increasing awareness about the benefits of automation, are the major factors driving the market in the United States.
- The rising trend of real-time monitoring of energy consumption, coupled with high automation level in smart factories across the region, have permitted real-time monitoring of energy consuming equipment, including HVAC, which is anticipated to aid the market growth over the forecast period.
- Furthermore, the presence of major energy management system companies, like Siemens, coupled with the evolution of new concepts for safe energy transmission and major technological contributions, is further fueling the demand for these solutions in North America.

Competitive Landscape

Multiple high market worth vendors such as Eaton Corporation Plc., ABB Ltd., Epcos - TDK Corporation, Siemens AG, General Atomics Inc., Maxwell Technologies Inc., Alstom Company, Vishay Intertechnology, among others are present in the market. Since there is a major competition between the major players the market concentration is anticipated to remain moderately low.

- April 2019 - ABB has got the project to work in an order for two blocks of frequency converter systems for the Higashi Shimizu project in Japan from Chubu Electric Power Co., Inc. The order was placed through the Hitachi-ABB joint venture, Hitachi ABB HVDC Technologies, Ltd. In this project, the system uses Voltage Source Converter (VSC) High-Voltage Direct Current Transmission (HVDC) power transmission technology, enabling interconnection between systems, with different frequencies implemented by converting alternate current into direct current.

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- The market estimate (ME) sheet in Excel format
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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Government Regulations Favours HVDC Capacitors
4.3.2 Low Transmission Losses and Augmented Stability
4.4 Market Restraints
4.4.1 Lack of Standardisation owing to Different Gird Designs
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 TECHNOLOGICAL SNAPSHOT
5.1 Line Commutated Converters (LCC)
5.2 Voltage Source Converter

6 MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Plastic Film Capacitor
6.1.2 Ceramic Capacitor
6.1.3 Aluminum Electrolytic Capacitor
6.1.4 Tantalum Wet Capacitor
6.1.5 Reconstituted Mica Paper Capacitor
6.1.6 Other Product Types
6.2 By Applications
6.2.1 Energy & Power
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Other Applications
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Eaton Corporation Plc.
7.1.2 ABB Ltd.
7.1.3 RTDS Technologies Inc.
7.1.4 Alstom SA
7.1.5 Maxwell Technologies Inc.
7.1.6 Siemens AG
7.1.7 General Atomics Inc.
7.1.8 Vishay Intertechnology Inc.
7.1.9 TDK Electronics AG
7.1.10 Sieyuan Electric Co. Ltd.

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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