Press release
HVDC Transmission Systems Gaining Traction in Asia-Pacific’s Offshore Wind Projects
Huge loads of electricity transmitted over long distances can cost millions of dollars for power distribution companies. In the Asia-Pacific (APAC) region, proliferating expanse of industrialisation and urbanisation has spiked its power consumption capacities. Power distribution systems operating in this region are adopting advanced technologies and alternative sources.Governments across several APAC countries are inducing higher investment in their offshore wind projects, and while doing so, they are compelled to use efficient power transmission systems. Thus, HVDC transmission systems are actively instated to provide power over long distances across multiple offshore wind projects in the APAC region.
A recent report published by Future Market Insights projects that by the end of 2026, the HVDC transmission systems market in Asia-Pacific region will expand at a robust CAGR of 10.1%. Currently, the market is estimated to be valued at US$ 1,447.6 Mn, and is anticipated to surpass US$ 3,700 Mn towards the end of 2026.
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https://www.futuremarketinsights.com/reports/apac-hvdc-transmissions-system-market
Unlike HVAC systems, initial costs of installing HVDC transmission systems are high, but are immaterialised as setting up terminal stations and extending power lines saves quite a lot of capital. The report reveals that in 2016, more than one-third of HVDC transmission systems installed across the Asia-Pacific region were deployed as overhead transmission systems.
The report also reveals that throughout the forecast period, VSC technology will dominate the HVDC transmission systems market in APAC region by accounting for more than 60% revenue share.
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https://www.futuremarketinsights.com/reports/sample/REP-AP-3267
The report has bifurcated the APAC region into Japan and Asia-Pacific excluding Japan (APEJ), and these sub-regions are expected to be demand higher power distribution and effective transmission. Another factor promoting the use of HVDC transmission systems over other alternatives is their efficacy in averting power outages or blackouts.
The report has also profiled prominent players in the APAC HVDC transmission systems market which include ABB Ltd., Siemens AG, Toshiba Corporation, TransGrid Solutions Inc., General Electric Co., Hitachi Ltd., Abengoa SA, ATCO Electric Ltd., and Prysmian SpA.
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https://www.futuremarketinsights.com/reports/apac-hvdc-transmissions-system-market/toc
About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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