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
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