APAC HVDC Transmission Systems Market Size and Share Projections for 2030 | ABB Ltd., Siemens AG, Toshiba Corporation

APAC HVDC transmission systems are used for bulk power transmission over long distances as they incur lower losses compared to AC systems. They are used in countries where there is large distance between load centers and generation plants.

APAC HVDC Transmission Systems Market size was valued at US$ 2435.37 Million in 2022, exhibiting a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030.

Request a sample copy of the report @https://www.coherentmarketinsights.com/insight/request-sample/643

Market Dynamics:

The APAC HVDC Transmission Systems Market is expected to witness significant growth over the forecast period owing to rapid industrialization and urbanization in the region. The increasing energy demand from industries and rapid setting up of new urban areas is prompting power grids to expand their transmission capacities. Moreover, many countries are focusing on upgrading their existing transmission infrastructure to strengthen the grid and improve grid stability. For instance, China has development plans for several Ultra High Voltage (UHV) transmission lines between eastern and western provinces to efficiently transport power produced from renewable energy-rich provinces. Furthermore, the development of offshore wind farms in China, Taiwan and Japan is also augmenting the demand for offshore HVDC cables to transmit power from these farms to the mainland grid.

Major Market Driver 1: Growing Renewable Energy Sector in APAC Region

The renewable energy sector across APAC region is experiencing rapid growth over the past few years. Countries like China, India and other Southeast Asian nations are heavily investing in solar and wind power generation to reduce dependence on fossil fuels and meet emission reduction targets. HVDC transmission systems allow efficient bulk power transfer over long distances from remote renewable energy projects to cities and load centers. This is driving increased adoption of HVDC technology as it offers advantages like lesser transmission losses and ability to control power flow.

Major Market Driver 2: Increasing Cross-Border Electricity Trade in APAC

Countries in APAC have realized the economic benefits of cross-border electricity trade. HVDC systems enable reliable and efficient transfer of large amounts of electricity across national borders. This is evident from projects like China-Myanmar HVDC link and India-Bangladesh interconnectors. Further expansion of regional power grids through initiatives like ASEAN Power Grid will majorly contribute to the growth of HVDC transmission market in coming years.

Key Company Profiles:

ABB Ltd., Siemens AG, Toshiba Corporation, General Electric Co., Prysmian SpA, Hitachi Ltd., TransGrid Solutions Inc., and ATCO Electric Ltd.

Market segmentation:

APAC HVDC transmission systems Market, By System Components:
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others

APAC HVDC transmission systems Market, By Technology:
LCC
VSC
Others

APAC HVDC transmission systems Market, By Development:
Overhead
Underground
Subsea
Combination

APAC HVDC transmission systems Market, By Power Rating:
Below 1,000 MWs
1,001 to 2,000 MWs
2001 MWs and Above

Request for Report Customization @https://www.coherentmarketinsights.com/insight/request-customization/643

This Report lets you identify the opportunities in APAC HVDC Transmission Systems Market by means of a region:

⦿ North America (the United States, Canada, and Mexico)
⦿ Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
⦿ Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
⦿ South America (Brazil etc.)
⦿ The Middle East and Africa (North Africa and GCC Countries)

Major Market Restrain: High Initial Investment Requirement

Establishing HVDC transmission links require massive capital expenditure for converter stations, transmission cables/overhead lines and other associated equipment. The high upfront cost poses a major challenge, especially for developing nations with limited financial resources. Also, lengthy approvals and land acquisition processes increase project timelines and escalate costs further. This restrain the wide adoption of HVDC technology to some extent.

Major Market Opportunity: Integrating Offshore Wind Farms

Countries in APAC have enormous offshore wind power potential along their long coastlines. However, integrating largescale, utility-scale offshore wind farms located far from shore poses technical challenges. HVDC technology has emerged as a viable solution to evacuate bulk power from offshore winds farms in a reliable and cost-effective manner. This presents a huge growth opportunity for HVDC vendors to tap into the offshore wind sector.

Major Market Trend: Adoption of VSC Technology

Until now, LCC HVDC technology had been dominating the market due to advantages like mature design and costs. However, the advantages of VSC HVDC like flexibility of DC voltage, integration of distributed energy resources and reactive power control are driving its growing adoption. Key players are investing in R&D of VSC HVDC to gain technological edge. The trend of replacing older LCC projects with advanced VSC systems will continue and accelerate the technology transition in coming years.

Key questions answered in the report include:

ᗒ How APAC HVDC Transmission Systems Market industry market will boom in 2023?

ᗒ which are prominent key players will be growing the market?

ᗒ Which enterprise size accounted for the largest data center colocation market share?

ᗒ What is the Compound Annual Growth Rate(CAGR) of the market during the forecast period (2023-2030)?

ᗒ What is the primary factor contributing to the growth of the market?

ᗒ Which region held the largest market share in the market?

Buy Now @ https://www.coherentmarketinsights.com/insight/buy-now/643

533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.