A recently published study by WISE GUY Reports has forecasted the global HVDC capacitor market to grow at 15.19% CAGR and reach $4.36 billion by 2020. The report says that the rising demand for electricity has put the current power generation infrastructure under pressure. Besides, demand and supply imbalance has caused enormous transmission losses in the existing AC transmission. Hence, HVDC transmission has become an alternative across the globe due to a number of factors like asynchronous interconnection, low transmission losses, and capacity to deliver bulk power for long distance transmissions. Low technology cost and growing government incentives is aiding the implementation of the HVDC technology.
The HVDC capacitors are anticipated to occupy a substantial share of the global capacitor industry and will be growing steadily in the years to come. Because of the niche application segments, there are plenty of opportunities for existing companies as well as new entrants to innovate and distinguish the products in price and design. Developed economies like the U.S., the U.K, and Germany are concentrating on improving and substituting the present power infrastructure. Many countries in the Asia-Pacific regions are also working on incorporating renewable energy sources, in power grids. This will enhance the adoption of HVDC systems across the globe.
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Major demand drivers for the HVDC capacitor market are the smaller, niche end-user segments. Further the market is driven by a need for improved stability, supportive government regulations, and low transmission losses in the current power infrastructure. The flipside for the market is high infrastructure cost and absence of standardization. However, he HVDC capacitor industry is rising fast due to the progress of infrastructure and automation.
Market segmentation for HVDC capacitor is done on the basis of Installation Type, Technology, Product Type, Application and Geography. On the basis of product type, segmentation is done into reconstituted mica capacitors, plastic film capacitors, ceramic capacitors, aluminium electrolytic capacitors; tantalum wet capacitors, and glass capacitors. Geographically, the Market has been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and Latin America.
Major players in this industry include ABB Ltd., Epcos AG, Siemens, Alstom SA, Toshiba, Vishay and others. The complete report includes HVDC Capacitor Market Share, Trend, Segmentation and Forecast to 2022.
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