HVDC Transmission Market Key Vendors, Segment, Growth Opportunities by 2017 to 2032

HVDC Transmission Market size is projected to be worth USD 17,448.0 million by 2030, registering a CAGR of 8.6% during the forecast period (2022-2030).
High voltage direct current (HVDC) is used in power transmission and long-distance transmission (also called electrical superhighway). HVDC transmission asynchronously connects electricity grids in long-distance places due to direct current (DC), reducing various outage-causing difficulties. Furthermore, HVDC transmission is less expensive for long-distance power transmission and causes less electrical mishaps, which will drive the HVDC transmission business in the near future.
High voltage direct current (HVDC) power systems transport bulk electricity over great distances using direct current (DC). HVDC lines increase transmission line efficiency, allowing for faster power delivery. The generated AC voltage is converted to DC at the transmitting end of a combined AC and DC system. Alternating voltage and current waves travel in the line, changing direction every millisecond, resulting in heat losses. Unlike AC lines, the voltage and current waves in DC do not reverse direction. HVDC lines increase transmission line efficiency, allowing for faster power delivery. HVDC has a cheaper transmission cost than HVAC above the break-even distance. HVDC transmission lines have fewer power losses than HVAC.

Market Trends:
One of the primary factors driving the market is the increasing use of HVDC transmission systems for bulk power transmission, interconnecting grids, and in-feed urban regions. Aside from that, there is a global increase in demand for cable-based transmission over overhead transmission lines. This, together with the increasing electrical industry, is fueling market growth. Furthermore, the growing development of smart cities, which use smart technology to manage assets and resources, provides lucrative growth potential for industry investors. Furthermore, the growing need for cost-effective long-distance power transmission systems is positively influencing the market. Aside from that, there is an increase in demand for valves and circuit breakers to break the circuit and halt the current flow when the current surpasses a predetermined value without damaging the circuit. This, along with the expansion of submarine power transmission networks, is fueling demand for HVDC transmission systems. Furthermore, the growing demand for renewable energy sources to reduce greenhouse gas emissions and air pollution is driving market expansion.

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Global HVDC Transmission Market: Segmentations
Global HVDC Transmission Market: Major Players
NR Electric
Toshiba
Siemens
Mitsubishi Electric
NKT A/S
Nexans
ABB
Hitachi
Sumitomo Electric
Prysmian Group
General Electric

Global HVDC Transmission Market: By Types
Converter Stations
Transmission Cables
Other

Global HVDC Transmission Market: By Applications
Underground or Submarine
Grid Interconnection
Offshore Power Transmission
Other

Global HVDC Transmission Market: Regional Analysis
The countries covered in the regional analysis of the Global HVDC Transmission market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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