Global HVDC Transmission Market Research Report Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)
Global HVDC Transmission Market Forecast to 2023 Global HVDC Transmission Market - Overview With the growing technological advancements in the global power sector, power management and power distribution are becoming more efficient. As the conversion of high voltage current to alternate current results in losses from transmission lines, an upgrade regarding the transmission of power called High Voltage Direct Current (HVDC) transmission system is coming into play. HVDC is feasible over conventional High Voltage Alternate Current transmission system. Market Research Future (MRFR) has published a research report about the global HVDC transmission market that gauges greater gains for this market at 6.5% CAGR between 2018 and 2023. Ask for Sample @ https://www.marketresearchfuture.com/sample_request/6027 The most important market drivers for the global HVDC transmission market growth include surging demand for power from renewable sources of energy and increasing demand for international grid connectivity. Other major market drivers include the demand for better power distribution system and low-cost electricity. In the last decade, the power industry witnessed tremendous changes due to increased energy generation mix from renewable sources and the trending technological advancements replacing the existing technology along the value chain. To overcome the huge transmission losses arising from high voltage alternate current transmission systems, transmission operators are shiftingto High Voltage Direct Current (HVDC) transmission systems. The market is also influenced with the rising competition and open economy in the power sector. Furthermore, the old transmission infrastructure involves higher operating expenses and low efficiency. This factor also drives the global HVDC transmission market on a large scale. HVDC transmission systems are expected to improve the grid connectivity with asynchronous grid that will draw power from various sources. The global power industry is planning to invest in renewable sources as renewable sector has high demands from all across the world. HVDC transmission systems will help the power grid to have access to power generated from offshore wind source. The HVDC Transmission process, by technology, is segmented as low commutated converters and high source converter. By deploying HVDC cables in the power transmission systems, the underground cable project for smart cities will be fulfilled.
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Global HVDC Transmission Market Forecast to 2023
Industry Related News
The Missouri Public Service Commission (PSC) has approved the acquisition of Grain Belt Express Clean Line by Chicago-based Invenergy, subject to certain conditions. This acquisition allows Invenergy to manage and maintain an HVDC transmission line and associated facilities within the eight Missouri counties that Buchanan, Caldwell, Carroll, Chariton, Clinton, Monroe, Ralls, and Randolph. 12 JUNE 2019 Browse Full Report @ https://www.marketresearchfuture.com/reports/hvdc-transmission-
market-6027
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Global HVDC Transmission Market Forecast to 2023 MARKET SEGMENT Global HVDC Transmission Market - Segments The global HVDC transmission market segmentation covers application type, configuration, technology type, and voltage rating. MRFR is exploring these features on a segment-wise level to understand market trends. As per the segmentation based on application, this market covers type, asynchronous grid, underground cables, and offshore cables. The power generated from offshore renewable sources can be connected to onshore grid connection using HVDC cables. During the forecast period, offshore cables are expected to dominate the market. The configuration-based segmentation of the market lists mono-polar configuration, bi-polar configuration, back-to-back configuration, and multi-terminal links. During the forecast period, the multi-terminal configuration is expected to dominate the market. By technology type, the market has been segmented into Low Commuted Converter (LCC) and Voltage Sourced Converter (VSC). Semiconductors used by LCC HVDC systems can withstand voltage in either polarity. VSC HVDC systems use semiconductors that can pass the current in any direction. During the forecast period, the LCC systems segment is expected to dominate the market. Regarding voltage rating, the market has been segmented into less than 350 kilovolts (kV), 350-640 kV, 640-800 kV, and more than 800 kV.
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Global HVDC Transmission Market Forecast to 2023 KEY PLAYER Key Players:
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ABB (Switzerland), Adani (India), Alstom (France), DATC (USA), C-EPRI Electric Power Engineering Co. Ltd (China), General Electric (USA), Hitachi (Japan), Mitsubishi (Japan), Nexans (France), NKT Holdings (Denmark), Prysmian Group (Italy), Schneider Electric (France), Seimens AG (Germany), and Toshiba (Japan).
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