HVDC Capacitor Market , Segmentation, Key Players Analysis and Forecast Forecast,2024-2027
HVDC capacitor market is projected to grow from USD 6.4 billion in 2023 to USD 17.9 billion by 2031; it is expected to grow at a CAGR of 13.8% from 2023 to 2031. HVDC technology involves the transmission of electrical power using direct current rather than alternating current. This method is particularly advantageous for transmitting large amounts of power over long distances with minimal energy losses. HVDC systems utilize converters, often composed of high-power semiconductors, to convert alternating current (AC) to direct current (DC) for transmission and vice versa for distribution. Capacitors within HVDC systems play a crucial role in smoothing voltage fluctuations, reducing harmonic distortions, and enhancing the overall stability of the transmission. One of the primary applications of HVDC capacitors is in the converter stations of HVDC transmission systems. These converter stations serve as key hubs for converting power between AC and DC, enabling efficient energy transfer acr