Saudi Arabia HVDC Capacitor Market

High Voltage Direct Current (HVAC) uses direct current for the transmission of electrical power for long-distance as it is less expensive and reduces power losses. The capacitor is used to store energy in the form of the electrical charge generating a potential difference across its plate. HVDC capacitor is used to convert alternate current (AC) to direct current (DC) for transmission. In the power station, where the power is prepared for long-distance transmission, the capacitor helps in stabilizing the converted DC voltage. These capacitors lower the transmission losses and save energy.

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The major factors responsible for driving the growth of the Saudi Arabia HVDC Capacitor market include the strong demand for enhancing stability and reducing power losses during transmission, increasing demand from niche and small end-user segments, and the implementation of various supportive government regulations. Numerous Saudi Arabia mega-projects, such as Smart City “Neom,” Saudi Arabia Vision 2030, the Red Sea Project, and other projects, are drastically increasing the demand for transmission of energy without energy losses. Additionally, the rising emphasis on generating power from renewable energy sources will directly strengthen the growth of the market. The expansion in the number of solar projects under the Saudi Arabia National Renewable Energy Programme (NREP), including Medina solar PV independent power project (IPP), Rafha solar PV IPP, Qurayyat solar PV IPP, Al-Faisaliah solar PV IPP, Rabigh solar PV IPP, Jeddah solar PV IPP, and Mahd al-Dahab solar PV IPP Saudi Arabia, is creating new growth opportunities for the HDVC capacitor market.

The Saudi Arabian government is planning to build a wind energy power plant of 400-megawatt at Dumat Al Jandal facility in north-western Saudi Arabia. This project will further complement the growing demand for long-distance power transmission, thereby fuelling the HVDC capacitor market growth. Moreover, growing investment by the government and private sector for the development of data centers in Saudi Arabia is leading to an increase in the demand for the HVDC capacitor to transmit the power. On the other end of the spectrum, the high cost of infrastructure and lack of standardization is likely to restrain the growth of the market.

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Based on the type, the plastic film capacitor segment is expected to grow at a higher CAGR during the forecast period owing to its ability to reduce energy losses even at high frequency, offer high reliability under extreme environmental conditions, lower cost, and higher stability. The growing demand for electronics and digital products and increasing concern to reduce energy losses are prompting the adoption of plastic film capacitors as it is widely used for industrial and general-purpose applications in electronic components. Moreover, plastic film capacitors are considered as a crucial component used in power transmission and distribution grids, renewable energy systems, lighting ballasts, power supply, aircraft, motor and drives, and medical defibrillators, to save energy losses efficiently, which fuels the growth the market.

Based on technology, the Voltage-Sourced Converters (VSC) segment is projected to grow at a higher CAGR during the forecast period owing to the high adoption of VSR HVDC capacitor for power transmission to minimize energy losses. In addition to this, the growing awareness about energy saving, reducing its impact on climate and environment, increasing focus for generating power from renewable energy sources such as solar and wind, will further strengthen the growing demand of the segment. Saudi Arabia’s government is focussing on increasing power generation capacity to meet the electricity demand by installing various solar power plants in Saudi Arabia, which will further drive the growth of the market.

Based on the application, the Energy & Power Sector segment is projected to grow at a higher CAGR during the forecast period. The increasing demand for electricity in Saudi Arabia, rising focus to transmit and distribute electricity efficiently from power station to end-user are the major factors propelling the growth of the market. Rising government initiatives and programs to generate power from renewable sources is further accelerating market growth. HVDC capacitor helps to mitigate power losses during transmission and distribution and saves energy. Moreover, various mega-project such as Vision 2030, smart city, the red sea project, and other projects are further creating opportunities for growth of the market during the forecast period.

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Various notable players in the HVDC Capacitor market include ABB Saudi Arabia, Siemens Saudi Arabia, Eaton Corporation Middle East, General Electric Saudi Arabia, Alstom Saudi Arabia, TransGrid Solutions, Vishay Intertechnology Inc. and among others.

The Saudi Arabia HVDC Capacitor market has been segmented based on the type, technology, installation type, and application. Based on the type, the market is segmented into Plastic Film Capacitors, Aluminum Electrolytic Capacitors, Ceramic Capacitors, Tantalum Wet Capacitors, Reconstituted Mica Paper Capacitors, Glass Capacitors, and Others. Based on the technology, the market is segmented into Line Commutated Converters (LCC), and Voltage-Sourced Converters (VSC). Based on the installation type, the market is segmented into Open Rack Capacitor Banks and Pole Mounted Capacitor Banks. Based on the Open Rack Capacitor Banks, the market is further segmented into Internally Fused Capacitor Banks, Externally Fused Capacitor Banks, and Fuseless Capacitor Banks. Based on the Enclosed Rack Capacitor Banks, the market is segmented into Fixed Capacitor Banks and Automatic Capacitor Bank.

Based on the application, the market is segmented into Industrial, Energy & Power Sector, Defense, and Others. Based on industrial, the market is further segmented into Heavy Manufacturing Plants, Mining, Paper and Pulp Factories, Steel Manufacturing, Petrochemical Industries, and Others. Based on Energy & Power Sector, the market is further segmented into Transmission, Distribution, and Renewable Power Generation.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia HVDC Capacitor market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the Saudi Arabia HVDC Capacitor market? What will be the impact of drivers and restraints in the future?
  • What are the various application of the Saudi Arabia HVDC Capacitor market, and how are they poised to grow?
  • Which type generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia HVDC Capacitor Market by Type

• • Plastic Film Capacitors
  • Aluminum Electrolytic Capacitors
  • Ceramic Capacitors
  • Tantalum Wet Capacitors
  • Reconstituted Mica Paper Capacitors
  • Glass Capacitors
  • Others

Saudi Arabia HVDC Capacitor Market by Technology

• • Line Commutated Converters (LCC)
  • Voltage-Sourced Converters (VSC)

Saudi Arabia HVDC Capacitor Market by Installation Type

• • Open Rack Capacitor Banks
    • Internally Fused Capacitor Banks
    • Externally Fused Capacitor Banks
    • Fuseless Capacitor Banks
  • Enclosed Rack Capacitor Bank
    • Fixed Capacitor Banks
    • Automatic Capacitor Bank
  • Pole Mounted Capacitor Banks

Saudi Arabia HVDC Capacitor Market by Application

• • Commercial
  • Industrial
    • Heavy Manufacturing Plants
    • Mining
    • Paper and Pulp Factories
    • Steel Manufacturing
    • Petrochemical Industries
    • Others
  • Energy & Power Sector
    • Transmission
    • Distribution
    • Renewable Power Generation
      • Solar
      • Wind
  • Defense
  • Others

Leading Market Players (Option 1: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • ABB Saudi Arabia
  • Siemens Saudi Arabia
  • Eaton Corporation Middle East
  • General Electric Saudi Arabia
  • Alstom Saudi Arabia
  • TransGrid Solutions
  • Vishay Intertechnology, Inc.