PORTLAND, Oregon, Feb. 20, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "High Voltage Capacitor Market: Global Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, the global high voltage capacitor market was pegged at $1.78 billion in 2017 and is projected to garner $3.31 billion by 2025, registering a CAGR of 8% during the period from 2018 to 2025.
Increased demand to improve grid infrastructure for increasing electricity accessibility and rise in adoption of high voltage capacitors in extra high voltage (EHV) and ultra-high voltage (UHV) transmission are the major drivers of the global high voltage capacitor market. However, various hazards related to high voltage capacitors hamper the market growth. On the contrary, innovations in energy and power sector are expected to create lucrative opportunities in the near future.
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Ceramic segment to manifest fastest growth by 2025
The ceramic segment is projected to portray the fastest CAGR of 9.8% during the forecast period. However, the plastic film segment was the largest, contributing nearly half of the market share in 2017. The report also includes an analysis of segments such as aluminum electrolytic and others.
Above 14000V segment held the largest share
The Above 14000V segment dominated the market in 2017, contributing more than two-fifths of the total market share. This is due to rise in demand for high voltage capacitors of more than 14000V in defense electronic application, jet engine ignition circuits, motor loads, and large pulse power systems. However, the 500-1000V segment is expected to manifest the fastest CAGR of 8.9% during the forecast period. The report also includes an analysis of other segments such as 1001-7000V and 7001-14000V.
Power generation: The most lucrative segment
The power generation segment held the largest market share of more than one-third in 2017. Moreover, the segment is estimated to register the fastest CAGR of 9.2% during the study period. The report also includes a study of other segments such as transmission, distribution, and others.
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Asia-Pacific region dominates the market through 2025
The market in the Asia-Pacific region accounted for the largest share of about 57% in 2017, owing to rise in demand for electricity from end-user industries such as automotive, information technology, and textile industry. However, Europe is expected to manifest the fastest CAGR of 9.9% through 2025. The report also analyzes other regions such as North America and Latin America, Middle East and Africa (LAMEA).
Major market players
The report includes analysis of the major market players including General Electric, TDK Corporation, Maxwell Technologies, Arteche Group, Vishay Intertechnology Inc., ABB Ltd., AVX Corporation, Siemens AG, Presco AS, and Lifasa.
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