- HVDC stands for high-voltage direct current. The technology is used to transmit electricity over a long distance by using an overhead transmission wire.
- The HVDC technology is preferred over the HVAC technology. In HVDC systems, power flow can be controlled instantly and accurately, in terms of direction as well as power. In addition, HVDC systems offer higher efficiency and lower electric losses compared to HVAC systems.
- HVDC capacitors are designed to be used in DC supplies or electronic equipment. They are also used in applications wherein high current pulses are produced.
- Types of HVDC capacitors include aluminum electrolyte capacitors, ceramic capacitors, glass capacitors, plastic film capacitors, reconstituted mica capacitors, and tantalum wet capacitors.
- HVDC capacitors are employed in various end-use sectors such as commercial, industrial, energy & utilities, and defense.
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Rise in Demand for HVDC Capacitors for Use in Power Transmission
- Based on end-use industry, the global HVDC capacitor market can be segmented into commercial, industrial, energy & utilities, and defense
- HVDC capacitors are largely used in power transmission systems, as they can control power flow instantly and precisely
- Moreover, HVDC systems have lower impact on the environment than HVAC systems, as transmission lines used in HVDC systems are less in number and they require less space for transmitting the same amount of energy
- Furthermore, installation of HVDC towers and transmission lines is less expensive, as a few lines are required in HVDC systems. Hence, HVDC capacitors are increasingly used in power transmission systems across the globe.
- HVDC capacitors are used in power distribution systems to decrease the possibility of short-circuit current by controlling the power flow rapidly. As a result of these advantages, the demand for HVDC capacitors for use in power transmission is increasing. This is expected to drive the global HVDC capacitor market during the forecast period.
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Increase in Favorable Government Initiatives for HVDC Systems to Offer Lucrative Opportunities to Global Market
- Governments of developed countries such as the U.S., the U.K., and Germany are focusing on the upgrade and replacement of the existing power infrastructure. In addition, several countries in Europe and Asia Pacific are focusing on adoption of renewable energy sources, such as solar and wind power, which have emerged as attractive sectors for investments for organizations across the globe.
- In 2017, ABB Company, a Switzerland-based player, bagged a deal worth US$ 640 Mn to supply a long-distance power transmission link to India so as to provide electricity to over 80 million people. This is expected to propel the HVDC capacitor market in India during the forecast period.
- Thus, increase in favorable government initiatives for HVDC systems is expected to offer lucrative opportunities to the global HVDC capacitor market during the forecast period
Asia Pacific to Lead Global Market
- In terms of region, the global HVDC capacitor market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia Pacific is anticipated to dominate the global HVDC capacitor market throughout the forecast period, owing to increase in industrialization and urbanization in countries such as China and India
- The HVDC capacitor market in North America and Europe is expected to expand at a substantial rate during the forecast period. However, the market in Middle East & Africa and South America is estimated to expand at a moderate rate during the forecast period.
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Key Players Operating in Global Market
The global HVDC capacitor market was highly fragmented in 2018. Major players operating in the global market are focusing on technological advancements and expansions to meet the risen demand for HVDC capacitors. Moreover, manufacturers are entering into partnerships for the development of innovative products.
Key players operating in the global HVDC capacitor market are:
- ABB
- Alstom SA
- Eaton Corporation
- Epcos AG
- General Atomics, Inc.
- LIFASA, International Capacitors, S.A.
- Maxwell Technologies Inc.
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