Global
HVDC
Transmission Market is expected to progress at 6.5% CAGR during the
forecast period. HVDC (High Voltage Direct Current) Transmission installation
is witnessing exponential growth due to the increased demand for efficient
transmission system as it is one of the major ways to improve efficiency of
power transmission systems. HVDC systems play a major role in power
transmission sector as it performs various functions including grid
integration, underground transmission cables, fetching power from the offshore,
and transmitting mass electricity through direct current.
Besides,
HVDC transmission systems are helpful in loss reduction by 30-40% than typical,
alternate current transmission thus, enhancing the outputs of the power
transmission systems. HVDC transmission systems have cost effective nature over
economies of scale. Additionally, for offshore wind generators the HVDC
transmission systems are best possible way to compete with convention
electricity generators. HVDC transmission systems are expected to bridge the
gap between supply and demand of electricity by asynchronous grid connectivity.
Leading Players
The
key players of global HVDC transmission market are Seimens AG (Germany),
Hitachi (Japan), ABB (Switzerland), Schneider Electric (France), Toshiba
(Japan), and Alstom (France). General Electric (U.S.), DATC (U.S), Mitsubishi
(Japan), NKT Holdings (Denmark), Adani (India), Nexans (France), Prysmian Group
(Italy), and C-EPRI Electric Power Engineering Co., Ltd (China) are among
others.
Segmentation
On
the basis of application segment, HVDC transmission system is segmented in to
underground transmission cables, offshore transmission systems, and
asynchronous grid connections. Offshore HVDC transmission cables draw immense
potential as they are capable of transmitting electricity at mass scale from
the offshore wind generation source. For large scale grid connectivity, having
asynchronous HVDC transmission is the best preference to balance the
electricity production and consumption.
Regional Outlook
Asia
Pacific region is expected to dominate due to the increasing power demand,
expanding grid connections and huge rise in the installed capacity, than any
other region. The region is experiencing maximum number of HVDC transmission
projects in areas such as China, India and Japan. For instance, Siemens has
completed around 40 HVDC projects around the globe, out of which 10 projects
were from China. Europe is likely to follow the market as the region is
experiencing huge rise of installed capacity by 2030, which may increase up to
220 GW, than any other region. Favorable projects related to European Offshore
super grid, which will connect to Northern Europe is the driving factor for
European HVDC transmission market. Siemens AG, which a major player in this
market has already completed six projects of range 60 km to 200 km underground
and offshore cable installation in the European region, particularly France,
Germany and North Sea.
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