HVDC Transmission Systems Market Analysis
The Global HVDC Transmission Systems Market size is projected to be worth USD 17,448.0 million by 2030.
COVID-19 Analysis
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the HVDC Transmission Systems Market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.
Drivers
- New product launches and R&D Amongst major key Players
- Increase in the installation of HVDC transmission systems
Opportunities
Strict Government Regulations to offer Robust Opportunities
The stringent government regulations about electricity transmission will offer robust opportunities for the market over the forecast period.
CAGR
~8.6%
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Geographies Covered
North America, Europe, Asia-Pacific, Rest of the World
Restraints
Short Circuits to act as Market Restraint
Short circuits in AC power system will act as market restraint over the forecast period. Besides, the complexity related to multi-terminal systems may also impede market growth.
Challenges
High Installation and Implementation Costs to act as Market Challenge
The high installation and implementation costs, standardization of HVDC systems, and low rate of adoption of HVDC technology may act as market challenge over the forecast period.
HVDC Transmission System Market Segmentation Overview:
By technology type:
- LCC
- VSC
By application type:
- Underground
- Asynchronous
- Offshore
By configuration type:
- Monopolar
- Bipolar
- Multi Terminal
- Back-To-Back
By voltage rating type:
- 640 kV
- 500 kV
- 200 kV
By Regions:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Regional Analysis
APAC to Dominate HVDC Transmission Systems Market
The APAC region will domineer the HVDC Transmission Systems Market over the forecast period. The development of power infrastructure, China making huge investments in renewable energy, implementation of latest UHVDC technology for power transmission, growing population, increasing power consumption, aging infrastructure, increased urbanization, construction of smart cities in emerging economies, growing industrialization, and increasing establishment of power plants are fuelling the global HVDC Transmission Systems Market growth in this region.
Browse Detailed Overview of This Research: https://www.marketresearchfuture.com/reports/hvdc-transmission-market-6027
Key Players:
- Seimens AG (Germany)
- Hitachi (Japan)
- ABB (Switzerland)
- Schneider Electric (France)
- Toshiba (Japan)
- Alstom (France)
- General Electric (U.S.)
- DATC (U.S)
- Mitsubishi (Japan)
- NKT Holdings (Denmark)
- Adani (India)
- Nexans (France)
- Prysmian Group (Italy)
- C-EPRI Electric Power Engineering Co. Ltd (China)
Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Landscape
5 Market Dynamics
About:
Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
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Major drivers for the market’s growth are optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission.
Infeed Urban Areas application expected to witness highest CAGR in HVDC transmission market during forecast periodHVDC systems are ideal for feeding electricity into densely populated urban centers, where the density of required overhead wires could cause significant obstructions.
Nowadays, residential and commercial developments have underground utility infrastructure, often ordered by law for aesthetic reasons.Download Free PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1225HVDC transmission Market for VSC-based technology to grow at highest CAGR during 2018–2024VSC technology converts AC voltage to DC voltage by using insulated gate bipolar transistors (IGBTs) and pulse width modulation (PWM), or through switching in and out of smaller DC capacitors.
The “switching off” capability means that VSC converters do not require a synchronous voltage for commutation.
China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission.
For instance, 2 of the world’s most powerful and longest HVDC power transmission highways, each with a nominal rating of 3,000 MW, are currently being installed in China.
Research Report Insights offers a 10-year forecast for global HVDC transmission system market between 2016 and 2026.
The report includes an extensive analysis of key industry drivers, restraints, market trends and market structure.
These factors along with the benefits provided by HVDC transmission systems over conventional methods are rapidly creating opportunities for growth of the HVDC transmission system market.
On the basis of power rating, the HVDC transmission system market is segmented to below 1000 MWs, 1001 MWs to 2000 MWs, 2001 MWs and above.A detailed analysis has been provided for every segment in terms of market size analysis for HVDC transmission systems across the different regions.
The section provides a thorough analysis covering key trends, absolute dollar opportunity and BPS Analysis.The next section highlights detailed analysis on HVDC transmission systems across various countries in the region.
A forecast scenario for each causative factor is then created and the contribution of each factor on a prospective basis is identified.The forecast presented here assesses the total revenue by value across the market.
