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. Adapting to the recent novel COVID-19
pandemic, the impact of the COVID-19
on HVDC Transmission Market is
included in the present report.
Moreover, the
power value chain has been witnessing considerable developments due to old age
infrastructure getting obsolete and new technological advancements.
Transmission loss reduction has been the prime area of interest for the
transmission infrastructure manufacturers as that will make them major players
in the market. 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.
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.
Global HVDC
Transmission market is expected to progress at ~ 6.5% CAGR during the forecast
period.
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.
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.
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