The Global HVDC Transmission Market accounted to USD 6.5 billion in 2016 growing at a CAGR of 7.2% during the forecast period of 2017 to 2024.
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“Global HVDC Transmission Market” accounted to USD 6.5 billion in 2016 growing at a CAGR of 7.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global HVDC Transmission Market, By Components (Converters, Cables, Harmonics Filters, Converter Transformers) By Type (Submarine HVDC Cable System, HVDC Overhead Transmission System ) By Power rating (Below 500 MW, 501–1000 MW, 1001–1500 MW, 1501–2000 MW, Above 2001 MW) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
This report consists of below pages:
- No of pages: 350
- No of Figures: 60
- No of Tables: 220
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Global HVDC Transmission Market Definition:
A high-voltage, direct current (HVDC) electric power transmission uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems are preferred because they are less expensive and suffer lower electrical losses.
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The current market trends in the market for HVDC transmission are the reduction of fossil fuel, used in the modern renewable energy transmission. Furthermore the transmission for long distance is more suitable and also reduces the transmission loss and this system allows the asynchronous interconnection of networks that operate at different frequencies or are otherwise incompatible which will drive the growth of market.
Major Market Drivers and Restraints:
- Cost Effective for Long Distance Transmission
- Concerns Regarding Fossil Fuel Power Plants Rising The Need For Remote Hydro/Wind Plants
- Growing Popularity of Offshore Wind Farms
- Not Economical for short distance
- Required huge amount of cost
- Complexity of Multi-Terminal Systems
Global HVDC Transmission Market Segmentation:
- On the basis of type the HVDC Transmission Market is segmented into Submarine HVDC Cable System, HVDC Overhead Transmission System. The HVDC overhead transmission system market is expected to grow in the forecasted period.
- On the basis of components the HVDC Transmission Market is segmented into Converters, Cables, Harmonics Filters, and Converter Transformers. The converters market is expected to grow in the forecasted period.
- On the basis of power rating the HVDC Transmission Market is segmented into Below 500 MW, 501–1000 MW, 1001–1500 MW, 1501–2000 MW, Above 2001 MW. The 501-1000 MW market is expected to grow in the forecasted period.
- On the basis of geography, HVDC Transmission Market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Global HVDC Transmission Market Competitive Analysis:
HVDC Transmission Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Global HVDC Transmission Market Major Market Competitors:
Some of the major players operating in HVDC Transmission Market are ABB Ltd., Siemens Ag, General Electric, Toshiba Corporation, Mitsubishi Electric Corporation, Nexans Sa, Nkt A/S, Hitachi Ltd., Schneider Electric, Nr Electric Co., Ltd., Prysmian Group, C-Epri Electric Power Engineering Co., Ltd, American Superconductor Corp., Transgrid Solutions Inc., Atco Electric Ltd., Double Engineering Company, Hvdc Technologies Ltd., Eltek, Ls Industrial Systems, Origin Electric Co. Ltd. among others. In 2017, ABB latest development in high voltage direct current (HVDC) Light, making it possible to reliably transmit large amounts of electricity over ever greater distances, economically and efficiently.
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