The High Voltage Direct Current (HVDC) transmission current systems are primarily deployed for power transmission over long distances. Future Market Insights recently published a detail report on the global HVDC transmission systems market. The global HDVC transmission systems market is expected to grow in the upcoming years owing to a considerable increase in demand from the power transmission sector. In addition, the consistent rise in the demand for HDVC transmission systems from the developing regions is projected to provide an impetus to the growth of the HDVC transmission systems market in the upcoming years.
The report offers intricate and critical insights regarding the various factors driving the growth of the global HDVC transmissions systems market along with the current trends, opportunities, recent developments, and key innovations in the HDVC transmissions systems space.
An analyst answers some key questions pertaining to the HDVC transmission systems market.
How is the HVDC transmissions systems market expected to grow in the upcoming years?
The global HVDC transmission systems market is likely to reach a market value of ~US$ 17,203.8 Mn by 2028 growing at an impressive pace of 8.7% during the forecast period 2018-2018
What are the recent developments within the HDVC transmission systems space?
Over the last couple of decades, the adoption of the HVDC technology for long distance power transmission applications witnessed an exponential growth. Consistent progress in HVDC technology have led to a transition from AC to DC. In the last decade, although conventional HDVC technology continues to remain at the forefront, there was a significant improvement in the quality and performance of sub-systems and equipment such as AC-filters, DC- brushings, AC-filters, and more. Further, the integration of the recently developed concept of capacitor communicated converted (CCC) with the conventional HDVC technology has significantly enhanced performance of traditional converters. At present, progress in technology and research activities are playing an imperative role in the development of modern HDVC transmission systems.
Are there any factors that are likely to hinder the growth of the HDVC transmission systems market in the coming years?
Over the years, manufacturers operating in the HDVC transmission systems market have had to continually look for solutions to reduce the high installation costs of HDVC transmission systems. The installation costs are high primarily due to expensive components including, smoothing reactors, converters, and harmonic filters that are installed to decrease the harmonics during transmission. Thus, one of the major factors that could potentially dent the growth of the market is high installation costs associated to HDVC transmission systems. In addition, steep costs of conversion stations and spare parts required for regular maintenance are other factors that are likely to interfere with market growth in the upcoming years.
Which are the key regions in the HDVC transmission systems market and why?
According to our in-depth analysis, the market in North America and the APEJ region is expected to offer lucrative growth opportunities for market players operating in the HDVC transmission systems market. The North American region is expected to assert dominance within the market owing to factors including, technological innovations and promising findings from ongoing research activities. However, the Asia-Pacific region excluding Japan is likely to present market players lucrative opportunities due to high demand for HDVC transmission systems from developing nations including, India and China among others.
Could you elaborate on the competitive landscape of the HDVC transmission systems market? At present, the global market is predominantly consolidated by 10 prominent vendors due to the lacking presence of regional market players. Further, the 10 leading vendors account for nearly 65-75% of the global market in terms of value. Some of the major companies operating in the HDVC transmission systems market include, Siemens AG, General Electric, Toshiba Corporation, Prysmian SpA, Mitsubishi Electric Corporation, Abengoa S.A. etc
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