HVDC Transmission Market - Global Industry Forecast to 2029


Report - ID620388 | 19 February, 2020 | Semiconductor and Electronics | 100 pages | Report Type (Global) | Publisher Name - RFM

HVDC Transmission Market By Component (Converter Stations, Transmission Cables, Others), Technology (Capacitor Commutated Converter (CCC) based, Voltage Source Converter (VSC) based, Line Commutated Converter (LCC) based), Project Type (Point-to-Point, Back-to-Back, Multi-terminal), Application (Bulk Power Transmission, Interconnecting Grids, Infeed Urban Areas), Voltage rating (<350 kV, 350-640 kV, 640-800 kV, >800 kV), Power Rating (Below 500 MW 501–1000 MW, 1001-1500 MW, 1501-2000 MW, Above 2001 MW),  Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Analysis:

HVDC Transmission Market is expected to reach USD 19.75 billion by 2029 in the forecasted period of 2020-2029 with a substantial CAGR 8.32%. Increasing demand for VSC is one of the key drivers for the HVDC transmission market in the forecasted period.

Shifting to renewable energy and supporting policy and HVDC transmission initiatives of the government other major factors fueling the growth of the HVDC transmission market in the forecast period.

Market Definition:

High voltage direct current (HVDC) is used in long distance transmission. HVDC power transmission networks for energy transmission use direct current. Thanks to the DC, HVDC systems link power grids asynchronously in that particular area, avoiding numerous failure problems. Transmission networks with high voltage direct current (HVDC) are safer for long distance transmission, as well as smaller electrical losses. HVDC systems allow for transmission of long distance electricity generated from solar panels and wind turbines.

HVDC transmission market Scope and Market Size

HVDC transmission market has been segmented on the basis of component, technology, project type, application, voltage rating, power rating 

  • On the basis of component, the HVDC transmission market is segmented into converter stations, transmission cables, others.
  • Based on technology, HVDC transmission market is segmented into capacitor commutated converter (CCC) based, voltage source converter (VSC) based, line commutated converter (LCC) based. In the technology segment voltage source converter (VSC) based sub-segment hold the largest market share in the HVDC transmission market during the forecasted period. Using insulated bipolar transistors (IGBT) and modulation of pulse width (PWM), or switching in and out of smaller DC condensers, the VSC technology converts AC voltage to DC voltage. 2 forms of voltage converters are available: voltage inverters and voltage rectifiers. A VSC HVDC network is primarily responsible for transferring constant DC electricity from a rectifier to a converter.
  • On the basis of project type, the HVDC transmission market is segmented into Point-to-Point, Back-to-Back, Multi-terminal.
  • Based on application, the HVDC transmission market is segmented into bulk power transmission, interconnecting grids, infeed urban areas. In the application segment infeed urban areas sub-segment hold the largest market share in the HVDC transmission market during the forecasted period. HVDC systems are ideal to supply electricity to densely populated urban centers, which could cause significant obstructions by the density of required overhead wires. Although the use of underground power lines in urban areas is more expensive. Today, the construction of residential and commercial growth is underground, often for esthetic purposes regulated by regulation.
  • On the basis of voltage rating the HVDC transmission market is segmented into <350 kV, 350-640 kV, 640-800 kV, >800 kV.
  • Based on power rating, the HVDC transmission market is segmented into Below 500 MW 501–1000 MW, 1001-1500 MW, 1501-2000 MW, Above 2001 MW.

Country Level Analysis of HVDC transmission market

  • On the basis of region, the HVDC transmission market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
  • Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
  • Asia pacific is expected to account for the largest share of the HVDC transmission market during the forecast period. Asia Pacific is presently witnessing an exponential growth in terms of power consumption. In this area, the growth of electricity infrastructure gives market players several opportunities to grow. China invests heavily in renewable energy and utilizes state-of - the-art UHVDC power transmission technology. For example, in China, 2 of the world's largest and most powerful highways are currently installed, each with a nominal rating of 3.000 MW.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.

Key Developments in the Market:

  • In January 2020, Ofgem, Started a test to supply and run the Western-built Italian HVDC-interconnector connection to the National Net Electricity Transmission and Scottish Power Transmission. The Western Link was the result of numerous interruptions and constructive setbacks, a subsea cable sending power from Scotland to Wales and north-west England.
  • In January 2020, NKT has completed the Cross-linked polyethylene (XLPE) underground power cable standard for 525 kV HVDC (High Voltage Direct Current) to meet the requirements in Germany for future high voltage DC corridor programs. Such programs help the transformation of the country's supply of energy to renewable energy. For NKT to take an active part in the German energy transformation, the additional qualification from our 525 kV DC power cable is a milestone.

Competitive Analysis and HVDC transmission market Share Analysis:

HVDC transmission market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of HVDC transmission market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

HVDC transmission market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. HVDC transmission market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Key Market Competitors:

Few of the major competitors currently working in the HVDC transmission market are ABB, American Superconductor, ATCO LTD, BHEL, C-EPRI Electric Power Engineering Co., Ltd, GENERAL ELECTRIC, Hitachi, Ltd., Mitsubishi Electric Corporation, NEXANS, NGK INSULATORS, LTD., NKT A/S, NR Electric Co., Ltd., Maschinenfabrik Reinhausen, Schneider Electric, Siemens, Sumitomo Electric Industries, Ltd, TDK Corporation, TOSHIBA CORPORATION, TransGrid Solutions., Transmission Developers Inc. , and many others.

Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key market players involved in this industry
  • Detailed analysis of the market segmentation
  • Competitive analysis of the key players involved

 

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