A capacitor is an impassive dual-terminal electrical component used to store energy electrostatically in an electronic field. The arrangements of capacitors differ widely, but each one of them contains at least two electrical conductors detached by a dielectric, which is also known as an insulator. Capacitors are widely employed in electrical energy systems and appliances.
The basic working principle of capacitor used in an AC system provides lead to the voltage and it also provides reactive power addition which is often required to counter the reactive power absorption by the inductive devices.
Increasing demand for electricity is a major factor driving the expansion of this market globally, and the other factors such as reduction in transmission losses during bulk power transmission over long distances, supportive government regulations for energy trade and power grid interconnection, and moreover advancement in the technology are further fueling global demand for the capacitors. The increased power generation by renewable energy, and new technological up gradations from the power market, and the deteriorating environment favors the power transmission system up gradations increasing share of capacitors to used globally.
Some of the other factors such as increasing electricity demand in developing economies such as India, Brazil, and China, are expected to impact due to the enhance grid infrastructure, and increase the electricity accessibility to the region's population. Additionally, the increasing demand from the various application industries, and regions are now generating several exciting opportunities for HV capacitors in the market. The emerging regions with high demand is Asia-Pacific which is projected to expand considerably due to the increasing investment in electricity sector, and the development of power transmission networks. In the APAC region, vast expanse of industrialization and urbanization has spiked power consumption capacities, moreover the distribution systems operating in the region is now adopting advanced technologies for reactive power compensation. Governments across several APAC countries are now inducing higher investment in their grid connection projects, while doing so, they are compelled to use efficient and reliable power transmission network systems.
However, the expansion of the global High voltage capacitor market is hindered by some factors such as the cost of raw materials. The manufacturing cost of the sub components such as plastic which is the most expensive material and increases the variable cost, thereby reducing the contribution margin in the overall capacitor manufacturing. In the recent years, capacitor manufacturers are declining to balance their raw material costs and component manufacturing costs, because they know that using a substitute raw materials can keep costs down and decrease the innovation. The critical requirement in capacitor manufacturing is its ability to hold a charge, which is determined by the existing surface area of the dielectric being used. Manipulation and innovations related to these dielectrics will impact the market in the future.
The HV capacitors market is represent significant potential for the end-users, manufacturers for the next decade. Some of key players include Eaton Corporation PLC, ABB Ltd, RTDS Technologies, Alstom SA, Maxwell Technologies Inc., Siemens AG., General Atomics, Inc., Sieyuan Electric and Samwha Capacitor Co Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.