HVDC Transmission Market Historical Analysis, Opportunities, Competitive Landscape | Top Key Player: Seimens AG, ABB Ltd, General Electric | Industry to Grow at 6.5% CAGR by 2023

HVDC transmission market is projected to expand at ~ 6.5% CAGR during the forecast period.
The global HVDC Transmission Marketis expected to witness a stagnation in growth during the forecast period. This is due to the considerable growth in the power sector with population boom along with the rise in energy demand in various regions.

Market Highlights

In the last decade, the power industry witnessed tremendous changes due to increased energy generation mix from renewable sources and the trending technological advancements replacing the existing technology along the value chain. To overcome the huge transmission losses arising from high voltage alternate current transmission systems, transmission operators are shiftingto High Voltage Direct Current (HVDC) transmission systems. The market is also influenced with the rising competition and open economy in the power sector. Furthermore, the old transmission infrastructure involves higher operating expenses and low efficiency. This factor also drives the global HVDC transmission market on a large scale.

One of the ways to improve the performance of the power sector is by transforming the transmission and distribution infrastructure. This can be done by creating anefficient transmission infrastructure, which significantly helps reduce losses in transmission, transmitting electricity from renewable sources to energy deficit areas, and reducing the cost of electricity. HVDC transmission cables improve the efficiency of energy transmission by 30-40% than traditional overhead AC lines. There are a variety of HVDC transmission lines available in the market with prominent players having grasp of the market.

Key Players

  • Seimens AG
  • General Electric 
  • DATC 
  •  Mitsubishi
  • Hitachi 
  • ABB 
  • Schneider Electric 
  •  Toshiba 
  • Alstom 

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Scope of the Report

This report provides an in-depth analysis of the global HVDC Transmission market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC), Middle East, Africa and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the HVDC Transmission market by its technology type, application type, by configuration type, by voltage rating type and by region.

By Technology Type

  • LCC
  • VSC

By Application Type

  • Underground
  • Asynchronous grid
  • Offshore

By Configuration

  • Monopolar
  • Bipolar
  • Multi-terminal
  • Back-to-back

By Voltage Rating

  • Less than 350 kV
  • 350-640 kV
  • 640-800 kV
  • More than 800 kV

By Regions

  • North America 
  • Asia Pacific 
  • Middle East and Africa
  • Europe
  • Rest of the World  

Market Research Analysis

640 kV HVDC Cable and offshore HVDC transmission technology are anticipated to obtain major market share.

Innovation in the 640 kV XLPE cable is expected to gain a higher number of installation projects in the HVDC transmission technology as they are capable of transmitting power levels of minimum 3 GW. 640 kV cables are filled with SF6 gas, which is dielectric and is inflammable in nature with a hydrophobic surface. This makes cables better resistant to contamination. Besides, offshore HVDC transmission technology is expected to have a command in the power industry with increasing offshore wind farm installation. For instance, the ABB group is a building transmission network from BARD offshore wind farm to German grid with a lengths of 130 km and 150 kV Direct Current.

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