HVDC Transmission Market System, Size, Share, Growth

HVDC Transmission Market

The HDVC Transmission Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving the growth of HVDC Transmission Market includes rising focus on utilizing renewable sources of energy, growing consumption of electricity around the world and rise in the number of offshore wind power projects. According to the report published by Bloomberg, the Global Renewable Energy Market was calculated around USD 928.0 Billion in 2017 and is predicted to reach USD 1,512.3 billion by the end of 2025, expanding at a CAGR of 6.1% over the forecast period (2018-2025), which will boost the Global HVDC Transmission Market in the approaching years. Moreover, the increasing consumer preference for cable-based transmission over overhead lines transmission solutions and rising awareness about the benefits of HVDC transmission systems, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, growing use of VSC technology by manufacturers, improvements in the living standards, rise in the launch of innovative products and rapid urbanization, are further contributing to the market growth.

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The major players operating in the market are C-EPRI Electric Power Engineering Co., Ltd., Prysmian Group, ABB, Siemens AG, General Electric, Nexans S.A., NKT A/S, NR Electric Co., Ltd., Hitachi, Ltd. and Mitsubishi Electric Corporation, among others.

Project Type: Segment Analysis

Based on Product Type, the Multi-Terminal Systems segment is predicted to grow at a significant CAGR over the forecast period because the multi-terminal HDVC systems are cost effective and collects huge amounts of renewable energy through land cables or overhead lines

Technology: Segment Analysis

Based on Technology, the Voltage Source Converter (VSC) segment is expected to expand at a remarkable CAGR during the forecast period because the voltage source converters independently control active power and do not require synchronous voltage for communication.

Application: Segment Analysis

Based on Application, the Infeed Urban Areas segment is anticipated to grow at a higher CAGR over the forecast period attributed to increasing use of underground power lines in the residential and commercial areas.

Regional: Segment Analysis

Based on Region, the Asia-Pacific region is projected to capture the largest market share during the forecast period. Growing consumption of electricity, expansion of the power sector, increasing investments by Governments on renewable energy projects, rising disposable incomes and high population growth rates are some of the important factors augmenting the market growth in Asia-Pacific.

Market Segmentation

Global HVDC Transmission Market by Component      

  • Converter Station
    • Valves
    • Thyristor Valve
      • Insulated Gate Bipolar Transistors (IGBTS)
    • Transformers
    • Harmonic Filters,
      • AC Filters
      • DC Filters
    • Circuit Breakers
    • Reactors
    • Surge Arresters
  • Transmission Cables
  • Others

Global HVDC Transmission Market by Project Type     

  • Point-to-Point Transmission
    • Monopolar
    • Bipolar
  • Back-to-Back Stations
  • Multi-Terminal Systems

Global HVDC Transmission Market by Technology       

  • Capacitor Commutated Converter (CCC)
  • Voltage Source Converter (VSC)
    • HVDC
    • Ultra-High Voltage Direct Current (UHVDC)
  • Line Commutated Converter (LCC), (Thyristor Based)
    • HVDC
    • UHVDC

Global HVDC Transmission Market by Application       

  • Bulk Power Transmission
  • Interconnecting Grids
  • Infeed Urban Areas

Global HVDC Transmission Market by Transmission Type          

  • Overhead
  • Submarine & Underground

Global HVDC Transmission Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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