As per the report published by Allied Market Research, the global high voltage capacitor market was pegged at $11.8 billion in 2020, and is expected to reach $30.3 billion by 2030, growing at a CAGR of 9.9% from 2021 to 2030.
Factors contributing toward the growth of the high voltage capacitor market include increase in requirement to enhance grid infrastructure for increasing the electricity accessibility, and others. The renewable energy market is expected to grow at a CAGR of 8.4%. However, the renewable energy industry was negatively hampered due to spread of COVID-19 which affected the demand for high voltage capacitors. COVD-19 has resulted in project delays especially in developing countries. This was attributed due to decreased government spending and hindered revenue streams of government.
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Based on dielectric, the plastic film capacitor segment held the largest share in 2020, accounting for nearly half of the market. However, the ceramic capacitor segment is estimated to register the highest CAGR of 11.9% during the forecast period.
On the basis of application, the power generation segment dominated the market in 2020, contributing to nearly two-fifths of the market. Moreover, the same segment is projected to manifest the highest CAGR of 11.2% during the forecast period. The report also analyzes the other segments such as transmission, distribution, and others.
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The global high voltage capacitor market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for nearly one-third of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 11.6% during the forecast period.
The global high voltage capacitor market report includes an in-depth analysis of the prime market players such as ABB Ltd, General Electric, AVX Corporation (AVX), Maxwell Technologies, Lifasa, Siemens AG, Presco AG, Vishay Intertechnology, Inc., TDK Corporation (TDK), General Atomics, Inc. (General Atomics), Eaton (COOPER), Murata Manufacturing, Hitachi Ltd. (Hitachi), Samwha Capacitor Co Ltd (Samwha Capacitor), and UCAP Power, Inc. (UCAP Power).
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the manufacturing and industrial activities across the globe. The lockdown and international restriction in import and export created challenges for raw material procurement.
- The revenue streams of governments of several countries were hampered, which decreased demand for high voltage capacitors.
- However, as the world is slowly recovering from the pandemic, the government funded transmission and distribution projects would resume, which will help the market get back on track.
- The report segments the global high voltage capacitor market on the basis of dielectric, capacity, application, and region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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