According to a new business and commerce study by Future Market Insights (FMI), the global market for high voltage direct current (HDVC) transmission systems market is remarkably fragmented due to the presence of large and small player pools. These suppliers offer a wide range of products, from cables to capacitors to transformers. Often, vendors provide tailored solutions to meet new demand. This report covers Siemens AG, ABB Ltd., Hitachi Ltd., General Electric Co., Toshiba Corporation, Prysmian SpA, TransGrid Solutions Inc., ATCO Electric Ltd. and Abengoa SA are currently identified as the most reputable companies in the world. HVDC transmission system market .
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As assessed by the FMI report, the high voltage direct current transmission systems market generated US$6,000 million in revenue in 2016, an increase of 7.7% compared to 2015. The report reports that during the forecast period 2016-2026, the demand for HDVC transmission systems will increase at a CAGR of 8.8%, with a final assessment of US$14,400 million by 2026. Mitsubishi Electric Corporation, Nexans, NR Electric, American Semiconductor, HVDC Technologies and LSIS are other notable players identified in the report.
Some of the key factors driving the demand for the global HDVC power transmission system market are increasing demand for cost-effective solutions for long-distance power transmission, decommissioning of nuclear and coal power plants, liberalization of energy policy in Europe, and VSC consolidation. Grid-wide technology enables system security. On the other hand, rising component costs affecting the number of grid installations, high initial investment requirements for grid infrastructure, uniformity of HDVC transmission equipment and system standards, congestion and instability control of HVDC systems, the prosperity of the global high-voltage DC transmission system market. A few obstacles stand in the way. Nevertheless,
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Geographically, this report evaluates the potential of the High Voltage Direct Current Transmission System market in North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (APEJ) excluding Japan and Middle East & Africa (MEA) Regions. And in the country of Japan. While North America is a highly lucrative region and Europe will continue to offer a wide range of opportunities due to the growing number of grid connections, the APEJ region is projected to be very lucrative, driven by emerging economies such as India and China.
- solution
- AC and DC harmonic filters
- converter
- DC line
- circuit breaker
- Other
- service
by technology
- LCC
- VSC
- Other
by distribution
- overhead
- subway
- undersea
- combination
by power class
- less than 1000MW
- 1001~2000MW
- More than 2001MW
by region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- my
Need to eliminate blackouts caused due to transmission of faults and increasing demand for power are some of the major factors expected to drive the growth of the global HVDC transmission system market. Solutions sub-segment dominates the system components segment, however services sub-segment is expected to register the highest CAGR over the forecast period. This is owing to the fact that many of the previously established systems need to be upgraded.
In the technology segment, VSC sub segment is estimated to increase at highest growth rate over the assessment period, followed by others sub segment. VSC technology uses insulated gate bipolar transistors which cover the drawbacks caused by conventional methods, and are thus gaining popularity. Capacitor commutated converters are gaining popularity and are expected to significantly contribute to the growth of the others sub segment.