HVDC Technology Market - Industry Analysis, Growth, Trends, Forecast 2019

The majority of the world’s transmission systems and electrical grids have been made using alternating current. However in recent times, direct current (DC) lines are gaining significant market share in the overall integrated power grids of the world. Primarily being used are High Voltage Direct Current (HVDC) lines to transmit power over long distances. Due to the inherent nature of direct current, HVDC systems allow regional power grids to be connected asynchronously which eliminate many outage causing grid stability issues. HVDC power transmission systems use direct current for bulk transmission of electricity. HVDC systems are less expensive for long-distance transmission of electricity and they also tend to give low electrical losses.

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During the transmission of electricity through HVDC system it doubles the voltage of the power transmitted which reduces the line losses per unit of electricity. HVDC systems facilitate transmission of power generated from hydel plants, solar panels or wind plants through long distance. The deployment of HVDC line has lead to interconnection of AC grid with HVDC which has strengthened the power capacity and increased the reliability of power grid. There is growing need for cable based transmission instead of overhead lines which makes HVDC to be the future energy transmission option.

One of the primary drivers behind the growth of the HVDC market is the growing electricity consumption in the world. New technologies such as voltage-source converters (VSC’s) have significantly addressed concerns regarding the capability of classic HVDC systems. Due to high voltage during transmission and the nature of direct current, electricity transmission through such lines results in much lower transmission losses. Other advantages include the lesser space requirement for the towers carrying these lines.

The primary components of HVDC systems can be segmented on the basis of converter technology being used as well as the types of cables and conductors employed. The types of converter technology include current source converter and voltage source converter. The different types of cables and conductors include underground cables, overhead conductors and extruded submarine cables. High investments have been made for upgrading the ageing infrastructure which has led to the growth of HVDC transmission systems in the American countries.

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Few companies profiled in this market research report include Siemens AG, American Superconductor Corpora (AMSC), ABB, General Electric, Mitsubishi Heavy Industries, Toshiba and Alstom.

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