The high voltage capacitor market was valued at $11.8 billion in 2020, and is projected to reach $30.3 billion by 2030, growing at a CAGR of 9.9% from 2021 to 2030.
High voltage capacitors are specialized capacitors designed to handle high voltage levels. They are used in various applications where high voltage levels are required, such as in power electronics, telecommunications, medical equipment, and aerospace industries.
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High voltage capacitors are typically made of materials with high dielectric constants, such as ceramic, mica, or tantalum. These materials allow for high capacitance values and high voltage ratings. The capacitors are designed with a special construction to withstand high voltage levels without breakdown, such as using multiple layers of dielectric material or designing the capacitor with a high breakdown voltage rating.
Some of the major players in the high voltage capacitor market include ABB Ltd, AVX Corporation, General Electric, Lifasa, Maxwell Technologies, Presco AG, Siemens AG, TDK Corporation, Vishay Intertechnology, Inc, Eaton (COOPER), General Atomics, Inc., Murata Manufacturing, Hitachi Ltd., Samwha Capacitor Co Ltd, and UCAP Power, Inc.
Other players in the high voltage capacitor market are Jiande Haihua Electric Co., Ltd, Zhejiang Yide Technology Co., Ltd., RTDS Technologies, Sieyuan Electric, and others.
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.
On the basis of dielectric, the ceramic capacitors segment garnered 16.7% in terms of revenue and expected to grow at CAGR of 11.9% during the forecast period. This is attributed to increased demand from industrial, military application and others.
On the basis of capacity, the 500-1000V segment garnered 17.6% in terms of revenue and is anticipated to grow at a CAGR of 8.9% during the forecast period.
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On the basis of application, the power generation segment garnered 36.2% in terms of revenue and expected to grow at a CAGR of 11.2% during the forecast period.
Asia-Pacific region garnered 23.7% share in terms of revenue and anticipated to grow at a CAGR of 11.6% during the forecast period. This is attributed to numerous factors such as presence of established players, and rising electricity demand owing to growth of industrial sector and population especially in India and China.
North America region garnered market share of 30.3% in 2020 in terms of volume.
Impact of COVID-19
Manufacturing sites have been halted, owing to slowdown and unavailability of workforce.
Operations of production and manufacturing industries have been heavily impacted by outbreak of the disease; thereby, leading to slowdown in growth of the high voltage capacitors market in 2020.
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Asian and European countries under lockdowns have suffered major loss of business and revenue, owing to shutdown of manufacturing units in these regions.
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