Global HVDC Transmission Market was valued at US$ 7.2Bn in 2017 and is expected to reach US$ 13.5Bn by 2026, at a CAGR of 8.17% during a forecast period.
Major driving factorof global HVDC transmission market growth are optimum solutions for long distance transmission, increasing demand for VSC technology, change toward renewable strength, and supportive management policies and creativities for HVDC transmission. Still, the high cost of installing HVDC transmission systems is the main restraint for the growth of the market.
Based on the application segment,HVDC systems are preferred for sending bulk power across long distances, with less power losses. Thefundamentalknowledge valuable for overcoming an important problem connected with renewable energy generation, collecting points for which are seldom located near the population centers that need them. HVDC is sensible, which results in advanced efficiency, lesser conductor, no responsive power reward, and furtherconstant and reliable operations than acorresponding high voltage alternating current (HVAC) system transmitting the same amount of power.
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On the basis of project type segment, the global HVDC transmission market for multi-terminal is estimated to witness the highest CAGR. Multi-terminal HVDC systems connect non-synchronous control systems and offer flexibility in switching power between 3 or more converter stations. Multi-terminal HVDC systems are one of the cost-effective ways to collective large amounts of renewable energies through HVDC land cables, sea cables, or overhead lines on one side, and connect the collected energy to the main AC system through a common DC network.
Global HVDC Transmission Market
In terms of region, the global HVDC transmission market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power organization in this region offers many growth openings for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For example, 2 of the world’s most powerful and longest HVDC power transmission roads, each with a nominal rating of 3,000 MW, are currently being installed in China. These factors are projected to fuel the global HVDC transmission market in APAC in the coming years.
The report offers a complete evaluation of the market. It prepares so via detailed qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research organizations and expectations. By responsibility so, the research report serves as a repository of analysis and information for every facet of the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding HVDC Transmission Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in HVDC Transmission Market.
Scope of Global HVDC Transmission Market
Global HVDC Transmission Market, by Component
• Transmission Cables
• Back-To-Back Stations
• Multi-Terminal Systems
• Voltage Source Converter
• Line Commutated Converter
• Interconnecting Grids
• Infeed Urban Areas
• Asia Pacific
• Middle East & Africa
• South America
• General Electric
• Mitsubishi Electric
• NKT A/S
• NR Electric
• C-Epri Electric Power Engineering
• Prysmian Group
• Schneider Electric
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