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.
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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.
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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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