Press release
HVDC Transmission Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Market Research
High voltage direct current (HVDC) is used in long distance transmission. HVDC power transmission systems use direct current for electricity transmission. Due to the direct current (DC), HVDC systems asynchronously connect power grids in that specific area which eliminate various outage- causing issues. High voltage direct current (HVDC) transmission systems are less expensive for long distance electricity transmission and they also produce lower electrical losses. HVDC systems enable transmission of power generated from solar panels and wind plants which are at long distances.
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The interconnection of HVDC and the AC grid has toughened the reliability and capacity of power grids. Growing electricity consumption is one the primary factors driving the global HVDC transmission market. Population is increasing rapidly, thereby increasing the electricity consumption. More and more electrically powered devices are currently being used. To reduce fossil fuels and carbon emissions are being substituted by new technologies which also cause higher electricity consumption. Growing need for cable based transmission instead of transmission through overhead lines is the other factor responsible for the growth of the global HVDC transmission market.
Overhead transmission lines are not insulated and hence the risk of human safety is high. Cable based transmission lines require insulation so that the live cables do not touch the earth and get shorted, and hence the adoption of cable based transmission lines is increasing, thereby boosting the growth of the HVDC transmission market. Electricity transmission through such lines results in much lower transmission losses due to high voltage during transmission and the nature of direct current, and hence the adoption of high voltage direct current (HVDC) transmission is increasing significantly. Requirement of lesser space for the towers carrying HVDC transmission lines is also one of the key factors driving the global HVDC transmission market.
Power faults during short circuits in the AC power system may hamper the growth of the global HVDC transmission market. The global HVDC transmission market can be segmented by components, converter type, type of cable, power rating, and geography. On the basis of components, the market can be segmented by converters, cables, transformers, and other. On the basis of converter type, the HVDC market can be segmented by voltage source converter (VSC), current source converter (CSC), line commutate converter (LCC), and ultra-high voltage direct current (UHVDC). Line commutate converter (LCC) segment is expected to expand significantly owing to the characteristics of line commutate converter to reduce power losses in HVDC transmission.
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In terms of type of cable, the global HVDC transmission market can be divided into underground cables, overhead conductors, and submarine cables. On the basis of power rating, the market can be segmented by below 500 MW, 501–1000 MW, 1001–1500 MW, 1501–2000 MW, and above 2001 MW. Geographically, the global HVDC transmission market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Numerous companies are investing on upgrading aging infrastructure which is boosting the growth of HVDC transmission systems in American countries. In the Asia Pacific region, China and India are anticipated to be the major contributors to the growth of the regional HVDC transmission market during the forecast period owing to the increasing population, growing power consumption, and aging infrastructure. The global HVDC transmission market includes large number of players. Some of the key players are ABB Ltd., Siemens AG, American Superconductor Corp., General Electric, ATCO Electric Ltd., HVDC Technologies Ltd., Hitachi Ltd., C-Epri Electric Power Engineering Co. Ltd, Mitsubishi Electric Corporation, Epcos, Toshiba Corporation, and Transgrid Solutions, Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
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