Global High-Voltage Direct Current (HVDC) Transmission Systems Market Is Expected to Reach USD 13.05 Billion by 2025

As per the report published by Fior Markets, the global high-voltage direct current (HVDC) transmission systems market is expected to grow from USD 7.26 billion in 2017 and expected to reach USD 13.05 billion by 2025 at a CAGR of 7.60% during the forecast period 2018-2025.

HVDC transmission technology is a crucial technology, which is holding the potential to disrupt the power transmission landscape of the world. This technology has emerged as an economically-viable solution for long-distance power transmission and it is at the forefront of the emerging smart grid revolution. Various countries are adopting HVDC, due to its cutting-edge features over HVAC, such as long-distance transmission, asynchronous transmission, ease in controlling the active power link, the possibility of bulk power transmission, and low loss (typically 30-50% less transmission loss than comparable alternating current overhead lines) in the transmission of power. The increasing demand for power for industrial, commercial, and household activities has increased the need for developing a diverse portfolio of energy generation mix. Additionally, it has also resulted in the supply of high voltage power through long transmission lines.

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High-voltage direct current system is the conversion of electrical current from AC to DC (rectifier) at the transmitting end, and from DC to AC (inverter) at the receiving end. In HVDC, there is no limitation on large voltage transmission through cables, which makes it an optimal solution for transmitting large voltage over a long distance.

Global high-voltage direct current (HVDC) transmission systems market is expected to witness rapid growth over the forecast period, owing to increasing application in integrating renewables, in submarine/land cable interconnection, and urban & offshore applications. The increasing demand for ease in controlling the active power link, cost-effective solutions for long distance power transmission, low loss in transmission of power (over HVAC), and the possibility of bulk power transmission are some of the significant factors that drive the HVDC transmission systems market. However, high cost required for the development of high-voltage direct current (HVDC) transmission systems, is anticipated to hinder the market growth over the forecast period.

Key players operating in the global high-voltage direct current (HVDC) transmission systems market includeABB, Siemens, China XD Group Corporation, NR Electric Co., Ltd, GE Grid Solutions, LLC, NKT, TBEA CO., LTD., Xuji Group Corporation, Hitachi, Ltd.,Nexans, Toshiba Corporation, Mitsubishi Electric, and Abengoaamong others. To enhance their market position in the global high-voltage direct current (HVDC) transmission systems market, the key players are now focusing on adopting the strategies such as product innovations, recent developments, collaborations, joint venture, mergers & acquisitions, and partnership.

For instance, in August, 2017, ABB announced the launch of HVDC Light technology, a breakthrough technology it pioneered 20 years ago, to enable more than doubling the power capacity to 3,000 megawatts (MW).
In March 2017, Siemens in consortium with Sumitomo Electric, has contract order to supply a high-voltage direct current (HVDC) transmission system for a total of USD 520 million, from Power Grid Corporation of India.
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High-power rating projects segment held largest market share and valued at USD 4.74 billion in 2017

Type segment includes high-power rating projects and low power rating projects. High-power rating projects segment held largest market share and valued at USD 4.74 billion in 2017. HVDC systems use power electronic converters for the power quality control and power conversion. The HVDC power transmission systems uses thyristors technology to offers to higher power rating. The ever increasing progress of high-voltage power transmission systems and increase of thyristors power rating goes hand in hand with increased demand for larger HVDC power transmission schemes in high-power rating projects.

Overhead transmission segment held the largest market share of 41.57% in 2017

Application segment includes overhead transmission, underground transmission, and subsea transmission. Overhead transmission segment held the largest market share of 41.57% in 2017. The overhead transmission is a structure used in transmission to transmit electrical energy and electric power distribution, along large distances. It consists of one or more conductors (commonly multiples of three) suspended by poles or towers. It is one of the most lowest-cost method of power transmission for large quantities of electric energy.

RegionalSegment Analysis of the High-Voltage Direct Current (HVDC) Transmission Systems Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Europe held the largest market share of 26.65% in 2017 and is anticipated to grow with the highest CAGR of 8.77% during the forecast period. Europe, power generation mix, is expected to change considerably in favor of renewables over the next few years, with countries such as Germany, Spain, Belgium and France increasingly moving towards low carbon economy. The European Union has several policies in place, such as the national renewable energy action plans and EU's Renewable energy directivethat support the transition to a low carbon energy system. Offshore wind power remains heavily concentrated in the European region, with the majority (approx. 98%) of it in Germany, Denmark, UK, the Netherlands and Belgium. According to Wind Europe, Europe had installed 3.1 GW of new offshore wind power capacity in 2017, out of which Germany accounted for 1.3 MW.

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About the report:

The global high-voltage direct current (HVDC) transmission systems market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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