Portland,OR, Sept. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global high voltage direct current (HVDC) capacitors market generated $4.73 billion in 2020, and is anticipated to reach $17.96 billion by 2030, manifesting a CAGR of 15.1% from 2021 to 2030. The report presents in-depth information related to the key trends, competency, future estimations, drivers, restraints, and opportunities of the market with in-depth impact analysis.
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Rise in demand to improve grid infrastructure in order to boost electricity accessibility is the key reason behind the growth of the global high voltage direct current (HVDC) capacitor market during the forecast period. In addition, increase in the adoption of high voltage capacitors in extra-high voltage (EHV) and ultra-high voltage (UVH) transmission propels the growth of the market.
The market is expected to get benefited from the growth in industrialization, increase in need for improved stability, supportive laws and regulations, and innovations in the energy & power sector during the forecast period. However, high voltage hazards related to the HVDC capacitors hinder the market growth during the forecast period.
Covid-19 Scenario
- COVID-19 pandemic has resulted in a significant drop in manufacturing utilization.
- The travel bans & facility closures kept workers out of their factories, leading to slow growth of the global high voltage direct current (HVDC) capacitors market in 2020.
- The market is estimated to grow by the end of 2022 owing to technological developments. Market players are deploying multiple strategies to boost growth during the post-lockdown period
The report offers detailed segmentation of the global high voltage direct current (HVDC) capacitors market based on type, technology, installation type, application, and region.
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Based on type, the plastic film capacitors segment accounted for the largest market share in 2020, contributing to nearly half of the total share and is expected to maintain the lead throughout the forecast period. On the other hand, the ceramic capacitors segment is estimated to witness the fastest CAGR of 17.4% from 2021 to 2030.
Based on the technology, the line commutated converters (LCC) segment contributed to the largest share in 2020, accounting for nearly three-fifths of the global high voltage direct current (HVDC) capacitors market. However, the voltage-sourced converters (VSC) segment is expected to lead the market with the manifestation of the highest CAGR of 17.8% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding around one-third of the total share. On the other hand, Asia-Pacific is expected to portray the fastest CAGR of 16.9% during the forecast period.
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Leading players of the global high voltage direct current (HVDC) capacitors market analysed in the research include Hitachi Ltd., General Atomics, Inc., TDK Corporation, Samwha Capacitor Co Ltd, General Electric Company, Eaton Corporation PLC, UCAP Power, Inc., Murata Manufacturing, Vishay Intertechnology, and Siemens AG.
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