High Voltage Capacitor Global Market Opportunities and Strategies to 2033

This report describes and explains the high voltage capacitor market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global high voltage capacitor market reached a value of nearly $13.44 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.74% since 2018. The market is expected to grow from $13.44 billion in 2023 to $19.4 billion in 2028 at a rate of 7.61%. The market is then expected to grow at a CAGR of 8.56% from 2028 and reach $29.25 billion in 2033.

Growth in the historic period resulted from elevated demand for renewable energy, increasing industrialization across various sectors, increased demand to boost grid infrastructure and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include high prices of electricity.

Going forward, the growing demand for electricity, increasing government investments in energy infrastructure, increasing urbanization, growing demand for electric vehicles and increasing energy consumption will drive the market. Factors that could hinder the growth of the high voltage capacitor market in the future include supply chain disruptions.

The high voltage capacitor market is segmented by type into plastic film capacitors, aluminum electrolytic capacitors, ceramic capacitors and other capacitors. The plastic film capacitors market was the largest segment of the high voltage capacitor market segmented by type, accounting for 52.28% or $7.02 billion of the total in 2023. Going forward, the plastic film capacitors segment is expected to be the fastest growing segment in the high voltage capacitor market segmented by type, at a CAGR of 8.15% during 2023-2028.

The high voltage capacitor market is segmented by capacity into 500-1000V, 1001-7000V, 7001-14,000V and above 14,000V. The 1001-7000V market was the largest segment of the high voltage capacitor market segmented by capacity, accounting for 38.99% or $5.24 billion of the total in 2023. Going forward, the 1001-7000V segment is expected to be the fastest growing segment in the high voltage capacitor market segmented by capacity, at a CAGR of 8.33% during 2023-2028.

The high voltage capacitor market is segmented by application into generation, transmission, distribution and other applications. The generation market was the largest segment of the high voltage capacitor market segmented by application, accounting for 39.81% or $5.35 billion of the total in 2023. Going forward, the generation segment is expected to be the fastest growing segment in the high voltage capacitor market segmented by application, at a CAGR of 8.38% during 2023-2028.

Asia-Pacific was the largest region in the high voltage capacitor market, accounting for 43.54% or $5.85 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the high voltage capacitor market will be South America and the Middle East, where growth will be at CAGRs of 16.00% and 15.79% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 14.27% and 12.59% respectively.

The global high voltage capacitor market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 23.84% of the total market in 2023. ABB Ltd. was the largest competitor with a 5.87% share of the market, followed by Panasonic Corporation with 5.23%, Alstom SA with 2.85%, Sieyuan Electric Co. Ltd. with 2.60%, TDK Corporation with 1.54%, Schneider Electric SE with 1.37%, Eaton Corporation with 1.22%, AVX Corporation with 1.19%, Nichicon Corporation with 1.12% and Siemens AG with 0.84%.

The top opportunities in the high voltage capacitor market segmented by type will arise in the plastic film capacitors segment, which will gain $3.37 billion of global annual sales by 2028. The top opportunities in the high voltage capacitor market segmented by capacity will arise in the 1001-7000V segment, which will gain $2.58 billion of global annual sales by 2028. The top opportunities in the high voltage capacitor market segmented by application will arise in the generation segment, which will gain $2.65 billion of global annual sales by 2028. The high voltage capacitor market size will gain the most in China at $1.01 billion.

Market-trend-based strategies for the high voltage capacitor market include focus on new, innovative high-power rectangular capacitors for electric vehicle charging, innovative products such as high-value high voltage combined aluminum capacitors to strengthen product portfolio and drive revenues, adopting a strategic partnership approach, focus on providing new series of capacitors with extended lifespans and focus on developing supercapacitors for electric vehicles and renewable energy storage systems.

Player-adopted strategies in the high voltage capacitor market include focus on strengthening business operations through strategic partnerships and new product solutions and focus on expanding business expertise through new product developments.

To take advantage of the opportunities, the analyst recommends the high voltage capacitor companies to focus on electric vehicle charging solutions, focus on high-value high voltage combined aluminum capacitors, focus on high reliability and longevity in capacitors, focus on supercapacitors for EVs and renewable energy, focus on the plastic film capacitors market segment, focus on the 1001-7000v market segment, focus on partnerships and collaborations, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on generation segment to drive growth.