The global HVDC capacitor market is projected to reach USD 15.3 billion by 2030 from an estimated USD 5.2 billion in 2022, at a CAGR of 14.4% from 2022 to 2030. The growth of the HVDC capacitor market can be attributed to rising demand for HVDC transmission systems and ongoing government initiatives to improve energy infrastructure.
Hitachi, Ltd. (Japan), General Electric Company (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); are some of the key players in the HVDC capacitor market. These players have adopted various strategies, such as product launches, contracts, mergers and acquisitions, expansions, collaborations, and partnerships, to expand their presence globally and increase their shares in the global HVDC capacitor market. Product launches have been the key players' most dominating strategy from January 2019 to December 2022 to help them broaden their customer base.
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Hitachi, Ltd. is a global leader in the manufacturing and distribution of electrical equipment. It is an established brand with a strong presence in all major regional markets. The company primarily adopts inorganic growth strategies such as contracts, acquisitions, and collaborations. The company offers HVDC capacitors for commercial, industrial, and energy and power applications.
General Electric Company is a well-renowned brand in the HVDC capacitor market. The company is a leading high-tech industrial player that offers non-destructive testing and inspection equipment; flow and process control systems; turbine, generator, and plant controls; and condition monitoring solutions and related services. The company has a strong product portfolio of HVDC capacitors and capacitor banks. As a market leader, the company has expanded its reach globally and is expected to capture a large market share in the near future. The company is undertaking efforts to strengthen its position in the HVDC capacitor market through contracts.
TDK Corporation offers a wide range of HVDC capacitors to its clients across the world. The company has diverse product offerings due to reduced business risks, and cross-selling possibilities are provided by a diverse product portfolio and balanced income sources. The company constantly invests significantly in R&D to develop new and advanced HVDC offerings. For instance, in 2021, TDK significantly invested 4.1% of its total revenue, i.e., USD 1.4 billion in R&D. The company primarily serves customers from the commercial, industrial, and energy & power sectors. Moreover, it has a global presence and a huge client base worldwide.
Eaton is a well-established market leader with a diverse product portfolio that reduces risk and dependence on specific products for revenue generation. The company’s robust distribution network helps gain a competitive edge over competitors in terms of seamless product and service delivery. Eaton has a diversified geographic presence and revenue base across the world. The presence of Eaton in various countries displays its widespread client base and capabilities to offer products globally. It also enhances its brand image as a diversified company.
KYOCERA Corporation’s leading market position across all its core products is supported by its investment in developing advanced HVDC capacitors that continually raise the bar of safety equipment performance while upholding an unwavering commitment to integrity. The company invests significantly in R&D activities. For instance, in FY 2021, the company invested approximately 4.6% of its revenue (USD 0.7 billion) in R&D activities. Due to its high focus on R&D activities, KYOCERA capitalizes on the high-growth potential in the global HVDC capacitor market.
HVDC Capacitor Market by Product Type (Plastic Film Capacitors, Aluminum Electrolytic Capacitors), Technology (LCC, VSC), Installation Type, Application (Energy and Power, Industrial, Commercial) and Geography - Global Forecast to 2030
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