HVDC transmission market in APAC is segmented into China, Japan, India, and Australia

Bulk power transmission to hold largest share of HVDC transmission market during forecast period

HVDC systems are preferred for sending bulk power across long distances, with fewer power losses. That makes the underlying technology valuable for overcoming an important problem associated with renewable energy generation, harvesting points for which are seldom located near the population centers that need them. HVDC is economical, which results in higher efficiency, lesser conductor, no reactive power compensation, and more stable and reliable operations than an equivalent high voltage alternating current (HVAC) system transmitting the same amount of power.

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HVDC transmission market for multi-terminal project type to grow at highest CAGR during forecast period

Of all the project types, the market for multi-terminal is expected to witness the highest CAGR. Multi-terminal HVDC systems connect non-synchronous power systems and offer flexibility in interchanging power between 3 or more converter stations. Multi-terminal HVDC systems are one of the cost-effective ways to aggregate large amounts of renewable energies through HVDC land cables, sea cables, or overhead lines on one side, and connect the aggregated energy to the main AC system through a common DC network.

APAC to hold largest share of HVDC transmission market during 2018–2024

The HVDC transmission market in APAC is segmented into China, Japan, India, and Australia. The demand for uninterrupted power plays a crucial role in driving the adoption of HVDC in the region. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For instance, 2 of the world’s most powerful and longest HVDC power transmission highways, each with a nominal rating of 3,000 MW, are currently being installed in China. The region’s emerging economies, such as China and India, provide power capacity addition across the existing power infrastructure, which is a major driving factor for the increasing demand for HVDC transmission in APAC.

Key players in the HVDC transmission market ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy).

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.