High Voltage Direct Current (HVDC) Transmission System
- High voltage direct current (HVDC) transmission system, also known as electrical superhighway or power superhighway, is an electric transmission system used for bulk direct-current transmission of electric power
- HVDC transmission systems have the capability to interconnect networks with different features and frequencies and are more competent than alternating current lines
- HVDC transmission systems are ideal for long distance transmission and also have less electrical losses. However, these transmission systems are costlier for short distances, as conversion units are required. The HVDC transmission system uses two technologies: voltage source converters (VSC) and line commutated converters (LCC).
- The LCC technology is based on thyristor power semiconductor, which enables bulk power transfer with very low current losses. It is economical. The LCC technology also has inherent DC fault protection.
- The VSC technology is based on power transistor, and has been recently introduced in the HVDC transmission systems market. The technology is largely applied in offshore applications including submarines and renewables.
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Key Driver of High Voltage Direct Current (HVDC) Transmission Systems Market
- Increase in installation of offshore wind power generation projects is anticipated to drive the HVDC transmission systems market. Large amount of power generation is feasible through offshore wind energy; therefore, the generated energy can be distributed to locations with high demand for electricity.
- In November 2018, The State Grid Corporation of China (SGCC), with the help of ABB, installed the world’s first DC-grid with HVDC in Zhangbei, China. The SGCC designed the entire grid, while ABB supplied several elements such as power semiconductor devices, transformer components, HVDC light valves, and high-voltage capacitors. The project is expected to enable the integration of remote solar, wind, and hydro energy power transmission.
Asia Pacific Expected to Hold Major Share of Global High Voltage Direct Current (HVDC) Transmission Systems Market
- Based on region, the HVDC transmission systems market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global HVDC transmission systems market in 2018. It is anticipated to be a highly attractive region during the forecast period. The trend is estimated to continue during the forecast period owing to the high investment in renewable energy sources, especially in countries such as China, Japan, and India.
- Grids are installed in remote areas due to place constraints. Therefore, HVDC transmission systems are likely to be employed for transmission purposes. This is likely to boost the market in Asia Pacific.
- Europe is estimated to hold vital share of the global HVDC transmission systems market during the forecast period. The region is investing in renewable energy sources due to the increase in pollution and rise in government policies to meet the 2030 climate and energy framework.
- North America is projected to hold moderate share of the global HVDC transmission systems market during the forecast period, as the region possesses advanced electrical transmission systems. The market in the region is likely to expand at a healthy pace in the near future.
- The market in Middle East & Africa and Latin America is expected to expand at a sluggish pace during the forecast period
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Key Players Operating in High Voltage Direct Current (HVDC) Transmission Systems Market
Leading companies operating in the High Voltage Direct Current (HVDC) Transmission Systems Market include:
- Siemens AG
- Toshiba Energy Systems & Solutions Corporation
- General Electric
- Mitsubishi Electric Corporation
- PRYSMIAN GROUP
- TransGrid Solutions.
- ATCO LTD.
- LSIS Co. Ltd.
- Hitachi, Ltd.
Global High Voltage Direct Current (HVDC) Transmission Systems Market: Research Scope
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Technology
- Line Commutated Converter (LCC)
- Voltage Source Converter (VSC)
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Type
- Monopole System
- Bipolar System
- Back To Back
- Multi Terminal System
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Deployment
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Application
- Interconnecting Grids
- Infeed Urban Areas
- Connecting Offshore Wind
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Capacity
- Up To 400 kV
- 401-800 kV
- Above 800 kV
Global High Voltage Direct Current (HVDC) Transmission Systems Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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