A fresh business and commerce study by Future Market Insights (FMI) has detected that the global market for high voltage direct current (HDVC) transmission systems market is strikingly fragmented, owing to the presence of a large pool of players, big and small. These merchants offer a wide range of items, including cables, capacitors, and transformers. To meet changing expectations, companies frequently provide customized solutions.
THE LEADING FIRMS ARE Siemens AG, ABB Ltd., Hitachi Ltd., General Electric Co., Toshiba Corporation, Prysmian SpA, TransGrid Solutions Inc., ATCO Electric Ltd., and Abengoa S.A. in the worldwide HVDC transmission system market, according to the analysis.
Increasing demand for cost-effective solutions for long-distance power transmission, decommissioning of nuclear and coal power plants, liberalization of energy policies in Europe, and integration of VSC technology across grids to enable system security are some of the key factors driving demand in the global HDVC transmission system market. On the other hand, rising component costs that affect the number of grid installations, the need for a large initial investment in grid infrastructure, the need for uniformity in HDVC transmission equipment and systems, and controlling congestion and instability in HVDC systems are a few roadblocks to the global high voltage direct current transmission system market’s prosperity.
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The FMI research divides the worldwide HVDC transmission system market into solutions and services based on system components. AC and DC harmonic filters, converters, DC lines, circuit breakers, and others are all part of the solutions category. The market has been divided into LCC, VSC, and others based on technology. The market for HVDC transmission systems has been divided into four categories based on deployment: overhead, subterranean, subsea, and combination. The market has been divided into three categories based on power rating: below 1,000 MWs, 1001 to 2000 MWs, and 2,001 MWs and above.
Geographically, the report takes stock of the potential of the high voltage direct current transmission system market in the regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA) and in the country of Japan. While North America is a highly lucrative region and Europe will continue to pose widespread opportunities owing to the increasing number of grid connections, the APEJ region is expected to turn highly lucrative on the back of the emerging economies of India and China.
About Technology Division at Future Market Insights
The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Key Segments Covered
By System Component
- Solutions
- Services
By Technology
- LCC
- VSC
- Others
By Deployment
- Overhead
- Underground
- Subsea
- Combination
By Power Rating
- Below 1000 MWs
- 1001 to 2000 MWs
- 2001 MWs and above
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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