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.
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. A detailed analysis
report of COVID-19
impact on HVDC Transmission Market Share is provided with the report.
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.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Read
More:
No comments:
Post a Comment