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HVDC Capacitor Market worth $17.9 billion by 2031 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 18, 2023 /PRNewswire/ — The global HVDC capacitor market was valued at USD 6.4 billion in 2023 and is projected to reach USD 17.9 billion by 2031, registering a CAGR of 13.8% during the forecast period according to a new report by MarketsandMarkets™. The growth of the HVDC capacitor market is directly associated with the development and advancement of the infrastructure for power transmission and distribution and with broader trends in energy production and consumption.

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Browse in-depth TOC on “HVDC Capacitor Market” 

150 – Tables
70 – Figures
230 – Pages

HVDC Capacitor Market Report Scope:

Report Coverage

Details

Market Revenue in 2023

$6.4 billion

Estimated Value by 2031

$17.9 billion

Growth Rate

Poised to grow at a CAGR of 13.8%

Market Size Available for

2019–2031

Forecast Period

2023–2031

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product Type, Technology, Installation Type, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Catastrophic explosion of capacitor banks

Key Market Opportunities

Escalating demand for electric vehicles

Key Market Drivers

Rising demand for HVDC transmission systems

By Product Type: The ceramic capacitor is projected to grow at the highest CAGR during the forecast period.

Ceramic capacitors are known for their high stability and low loss levels. They are not polarized and can be connected to AC and DC supplies. Moreover, they can be miniaturized and mass-produced. They can also withstand variations in voltages. Hence, they find applications in resonant circuits in transmitting stations, bypass filters, coupling or decoupling, and oscillators. They are cost-effective and can be used to protect semiconductor devices used in the automotive, transportation, consumer electronics, healthcare, energy and power, and telecommunications industries.

By Installation Type: The enclosed rack capacitor banks accounted for the largest HVDC capacitor market share during the forecast period.

In 2022, enclosed rack capacitor banks captured the largest share of the HVDC capacitor industry, likely to grow during the forecast period. Due to lower installation and maintenance costs, its supremacy can be attributed to its widespread use in many indoor and outdoor applications, such as power generation plants, electrical substations, chemical factories, cement factories, and iron and steel manufacturing plants. These banks also need minimal field assembly. They’re employed in commercial, industrial, and utility power systems for reactive power compensation, power factor management, and harmonic filtering.

By Technology: Line-Commutated Converter (LCC) technology accounted for the largest HVDC capacitor market share during the forecast period.

In 2022, Line-Commutated Converter (LCC) technology captured a larger share of the HVDC capacitor market during the forecast period. LCC is an established and cost-effective technology commonly used in HVDC applications. A converter station provides short-term overload capability and good efficiency, with a total operational power loss of 0.7%-0.8%. Furthermore, an HVDC system based on LCC technology is effective for long-distance wind power transmission.

By Application: The energy & power application is projected to grow at the highest CAGR during the forecast period.

HVDC systems are increasingly being used in conjunction with energy storage options to control peak demand, store excess energy, and provide grid stabilization services—capacitors control and balance power transmission between the grid and energy storage systems. The growth can also be attributed to the increased demand for these capacitor banks owing to several benefits, including easy installation and maintenance, less assembly, simple design, and cost-effectiveness. They are widely used in energy and power applications for transmitting power over long distances. The ongoing projects undertaken by governments to enhance energy generation and distribution infrastructure are likely to result in high demand for pole-mounted capacitor banks in the future.

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By Region: Asia Pacific will likely grow at the highest CAGR during the forecast period.

Asia-Pacific has experienced immense economic growth, urbanization, and rising energy demand. Among others, these factors support the expansion of the High-Voltage Direct Current (HVDC) capacitor market in this region. The market in Asia Pacific is primarily studied for China, Japan, India, and the Rest of Asia Pacific. China and India mainly dominate the HVDC capacitor market in the region. These countries are densely populated and generate huge amounts of electricity to meet the surging demand for energy. To fulfill the rising energy demand, the governments of these countries are focusing on expanding their energy generation infrastructure.

The major players in the HVDC capacitor companies include Hitachi, Ltd. (Japan), General Electric (US), TDK Corporation (Japan), Eaton (US), KYOCERA Corporation (Japan), YAGEO Corporation (Taiwan), Vishay Intertechnology, Inc. (US), General Atomics (US), LIFASA, International Capacitors, S.A. (Spain), and ELECTRONICON Kondensatoren GmbH (Germany).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Multilayer Ceramic Capacitor Market by Dielectric (Class I (C0G, X8G, U2J), and Class II (X7R, X5R, Y5V, X7S)), Rated Voltage (Low (Up to 50V), Medium (100-630V), and High (1000V & Above)), End User (Electronics, Automotive) (2022-2027)

HVDC Transmission Market by Component (Converter Stations, Transmission Cables, and Others), Project Type (Point-to-Point, Back-to-Back, and Multi-Terminal), Technology (CCC, VSC, and lCC), Application, and Geography – Global Forecast to 2024

Microgrid Market by Connectivity (Grid Connected, Off-grid), Offering (Hardware (Controllers, Energy Storage), Software, Services), End User, Type, Power Source, Power Rating (Below 1 MW, 1-5 MW, 5-10 MW) and Region – Global Forecast to 2028

Power Electronics Market by Device Type (Power Discrete, Power Module, Power IC), Material (Si, SiC, GaN), Vertical (ICT, Consumer Electronics, Industrial, Automotive, Aerospace), and Geography – Global Forecast to 2026

Silicon Carbide Market by Device (SiC Discrete Device, SiC Module), Wafer Size (Up to 150 MM, >150 MM), End-Use Application (Automotive, Energy & Power, Transportation, Industrial, Telecommunications) and Region – Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
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Suite 430
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Email: [email protected]
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Blockchain Press Releases

Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet

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VICTORIA, Seychelles, March 1, 2024 /PRNewswire/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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Blockchain Press Releases

Cashback and Crypto: Bybit’s Monthly Bonanza

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DUBAI, UAE, March 1, 2024 /PRNewswire/ —Bybit, one of the world’s top three crypto exchanges by volume, now unveils March’s Fiat Cashback Splash for both fresh and seasoned users who make fiat deposits.

This effort celebrates both new and familiar faces within the Bybit fold. The “Fiat Cashback Splash” is part of Bybit’s pledge to be the world’s Crypto Ark, leading the way to the new financial system, and offering straightforward chances for anyone to get involved. Indeed, any crypto users, including newcomers, will be able to walk the crypto path with Bybit as a reliable ally.

“We aim to always offer more to our users, and the Fiat Cashback Splash is our latest move to improve their journey,” said Ben Zhou, Bybit’s co-founder and CEO. “The Fiat Cashback Splash is our way of saying thank you to our community, both old and new, for their trust and support.”

This event spans the first week of every month and any one of Bybit’s 20 million users who bring fiat to the table will see rewards. Newcomers putting down $100 through fiat or a single click buy will get up to $10 back on fees. Those already with Bybit, depositing $500 or more, will see $5 returned.

For the heavy hitters depositing over $5,000, Bybit adds a $30 Buy Crypto Coupon into the mix, widening the horizon for investment.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Blockchain Press Releases

Bybit Card Now Supports Google Pay, Enhancing Assets Spending Convenience in EEA Region

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DUBAI, UAE, March 1, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, is thrilled to announce a significant advancement in its Bybit Card service, enhancing user convenience and accessibility. The integration of Google Pay now allows Bybit Card users in the European Economic Area (EEA) to seamlessly spend their assets with unprecedented ease and security.

Google Pay integration marks a major enhancement to the Bybit Card experience, enabling users to manage their finances and payments effortlessly. Effective immediately, Bybit Card holders can link their cards to Google Pay, empowering them to conduct secure, fast, and hassle-free transactions online, in-app, and in physical stores wherever Google Pay is accepted.

Key benefits of the Bybit Card integration with Google Pay include:

Seamless Integration: Bybit Card holders can easily link their cards to Google Pay for quick access to their assets.

Convenient Transactions: Users in the EEA can make secure and fast transactions online, in-app, and in stores, leveraging the widespread acceptance of Google Pay.

Enhanced Security: Google Pay’s advanced security features provide an additional layer of protection for Bybit Card transactions, giving users peace of mind.

Bybit remains committed to delivering innovative solutions that empower individuals to harness the full potential of cryptocurrencies in their everyday lives. The integration of Google Pay exemplifies Bybit’s dedication to enhancing user experience and expanding the utility of its products.

#Bybit / #TheCryptoArk

About Bybit

Bybit is one of the world’s top three crypto exchanges by volume with over 20 million users. Established in 2018, Bybit offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

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