Growing Demand for Lossless Energy Transmission Creates Demand for High Voltage Capacitor
There is increasing usage of capacitors in power transmission which is a reason for demand for high voltage capacitors to grow. There is a need of lossless power transmission globally, consequently, high voltage capacitors are required so as to enhance reliability and efficiency of long-distance transmission. Furthermore, there are continuous innovations revolving around the manufacturing of high voltage capacitors. Many companies invest lots of money on R&D of manufacturing of high voltage capacitors, which also expands the scope of the market. For instance, in April 2023, Kyocera Corporation announced the creation of a new multi-layer ceramic capacitor (MLCC) with EIA 0201 dimensions (0.6 mm x 0.3 mm). With the increasing need of better technology for smartphones and wearable gadgets, there is a growing demand for electronic circuits that incorporate MLCC devices with higher capacitance values. As a result, it is anticipated that coming few years will be in high demand of electricity and in turn high demand for high voltage capacitors.
High voltage capacitors are used in medical equipment such as defibrillators, insulin pumps, pacemakers, electrocardiograms and more which helps in the expansion of the market as diseases such as diabetes and cardiovascular conditions are on the rise. For instance, in 2022, the National Health Institutes (NIH) of USA stated that over 5 hundred thousand people were using implantable cardioverter defibrillators which has grown significantly over the period of two years that is over 3 million people use conventional pacemakers and a million people use implantable cardioverter defibrillators.
High voltage capacitors are used in medical equipment such as defibrillators, insulin pumps, pacemakers, electrocardiograms and more which helps in the expansion of the market as diseases such as diabetes and cardiovascular conditions are on the rise. For instance, in 2022, the National Health Institutes (NIH) of USA stated that over 5 hundred thousand people were using implantable cardioverter defibrillators which has grown significantly over the period of two years that is over 3 million people use conventional pacemakers and a million people use implantable cardioverter defibrillators.
Energy and Utility Sector Fuels High-Voltage Capacitor Market
There is a fierce battle of innovation in the market of high voltage capacitors. There are many emerging start-ups that are already sky high like Maxwell Technologies and EEStor, which focus on developing next-generation high voltage ultracapacitors with higher energy density and faster charging times, looking to develop energy storage for electric vehicles, grid stabilization, and pulsed power applications.
According to the International Renewable Energy Agency (IRENA), global renewable energy capacity has increase by 450 gigawatts in 2023, with a total capacity of over 3,819 gigawatts approximately. There is a growing demand for energy efficient technologies globally, as people strive to reduce their carbon footprint and tend towards sustainable sources of energy. There is an evolution from conventional sources of energy like coal to renewable sources of energy like electricity and hence, the need of optimized power generation is observed which is a driving factor for the high voltage capacitor market.
According to the International Renewable Energy Agency (IRENA), global renewable energy capacity has increase by 450 gigawatts in 2023, with a total capacity of over 3,819 gigawatts approximately. There is a growing demand for energy efficient technologies globally, as people strive to reduce their carbon footprint and tend towards sustainable sources of energy. There is an evolution from conventional sources of energy like coal to renewable sources of energy like electricity and hence, the need of optimized power generation is observed which is a driving factor for the high voltage capacitor market.
Recent Trends in the High Voltage Capacitor Market:
- Manufacturing of high voltage plastic film and ceramic capacitors
- Building grid infrastructure for electric accessibility
- Making power transmission loss-less (ideally) for energy conservation
- Manufacturing of electric based vehicles
- Increasing wind energy by use of capacitors
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Hazardous Effects of High Voltage Capacitor on Environment and Health Restrain the Market Growth
High voltage capacitors can discharge current even when not energized because they hold a charge for some time after the power is turned off. They might even store dangerous amounts of energy without even being connected to any external power source. They can cause damage to insulation of the capacitor, heat generation, fire, leakage or bursting which can cause explosion and fire due to an unbalanced load or voltage. For instance, in January 2024, University of South Whales, Sydney reported an accident where a high voltage capacitor exploded injuring an eye of a student. Furthermore, they published a safety alert for the usage of high voltage capacitors to be kept away from direct sunlight, high temperature and humidity. The liquid dielectric used in many capacitors may be toxic which may cause bulging, ruptures and even explosion in extreme cases. Additionally, charging and discharging of capacitors accelerates the charged particles at a certain frequency leading to electromagnetic radiation, which is harmful for people who come in direct contact with the capacitors. All these situations where capacitors can harm the environment and the health of human beings act as the direct obscenity to the high voltage capacitor market.
Industrial Developments and Key Players in the High Voltage Capacitor Market
Recently many companies are trying to expand their market by focusing on research and development within their own company and also by trying to collaborate with others. For instance, in March 2023, GE Renewable Energy's Grid Solutions business revealed securing three High-Voltage Direct Current (HVDC) contracts, total around EUR 6 billion. This achievement comes through collaboration with Sembcorp Marine in a specially formed consortium for TenneT's ground-breaking 2GW Program in the Netherlands. In the field of high voltage capacitors, there is a battle to put forth the new and innovative products. For instance, in August 2023, Dean Technology Inc. which is a leading manufacturer of electronic components announced launch of its new Class II Y6P dielectric material for high voltage ceramic capacitors, which meet the requirement of high voltage and high temperature applications. Additionally, in December 2023, Wurth Electronics, Germany, announced to have implemented voltage-capacitance behaviour of ferroelectric multilayer ceramic capacitors (MLCCs) in their production of high voltage capacitors.
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Urbanization and Growth of Manufacturing Industry in Asia-Pacific Dominates the High Voltage Capacitor Market
The Asia-Pacific is currently dominating the market due to many factors such as urbanization in China and India demands electrical infrastructure, including power generation, transmission and distribution systems which requires usage of high voltage capacitors. There is demand of high voltage capacitors for energy and utility, automotive and transportation, consumer electronics, defence and aerospace purposes. Moreover, in 2023, China was the biggest exporter of high voltage capacitors followed by Japan and South Korea and biggest importers were India and Vietnam. North America and Europe have very large market of high voltage capacitors because of innovations and growing presence of end users of facilities such as aerospace, energy and healthcare in the area. For instance, in April 2023, GE announced the construction and installation of a 500 kV series capacitor bank at a 500 kV substation, replacing an old series that has been in operation for over 40 years in the U.S.A. These regions are expected to grow more in presence of major players like General Atomics, HK Film Capacitor, CABO Electronics and more.
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The report provides a detailed overview of the high voltage capacitor market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for high voltage capacitor market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the high voltage capacitor market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the high voltage capacitor market. Some key country and region included in the high voltage capacitor market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Kenya, Rest of MEA |
High Voltage Capacitor Market Research Report Covers In-depth Analysis on:
- High voltage capacitor market detailed segments and segment-wise market breakdown
- High voltage capacitor market dynamics (recent industry trends, drivers, restraints, growth potential, opportunities in high voltage capacitor industry)
- Current, historical and forthcoming 10 years market valuation in terms of high voltage capacitor market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- High voltage capacitor market demand analysis
- High voltage capacitor market pricing analysis over forecast period (by key segment and by region)
- High voltage capacitor market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in high voltage capacitor market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in high voltage capacitors market
- High voltage capacitor market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on high voltage capacitor market forecast by countries
- Mergers and acquisitions in high voltage capacitors market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What is driving the growth of the high-voltage capacitor market?
The high voltage capacitor market is primarily driven by increasing investments in renewable energy, rising industrial demand and the growing need for efficient power distribution in energy-intensive industries.
What are the future growth prospects for the high voltage capacitor market?
The future growth of the high voltage capacitor market is expected to be strong, with increasing investments in smart grid technologies, renewable energy projects and electric vehicle infrastructure development.
What technological advancements are shaping the high-voltage capacitor market?
Technological advancements like enhanced dielectric materials, miniaturization, and improved energy storage efficiency are key developments driving the innovation and competitiveness in the high voltage capacitor market.
