Jun 29, 2017   SOURCE: PR NewsWire

HVDC Transmission Market Worth 11.52 Billion USD by 2023

PUNE, India, June 29, 2017 /PRNewswire/ --

According to this market research report "HVDC Transmission Market by Component (Convertor Stations, Transmission Cables, and Others), Technology (CCC, VSC, LCC, and UHVDC), Project Type, Power Rating, Application, and Geography - Global Forecast to 2023", published by MarketsandMarkets(TM) , the HVDC transmission market was valued at USD 6.79 Billion in 2016 and is expected to reach USD 11.52 Billion by 2023, at a CAGR of 7.31%. The increasing demand for cost-effective solutions for long distance power transmission and integration of VSC technology across grids to enable system security are the major factors that drives the HVDC transmission market.

(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 62 market data tables and 63 figures spread through 198 pages and in-depth TOC on "HVDC Transmission Market - Global Forecast to 2023"

http://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html [http://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

Early buyers will receive 10% customization on this report

Convertor stations expected to grow at a higher CAGR between 2017 and 2023 

The converter station is expected to grow at the highest rate. This growth can be attributed to the rapidly growing market for valves and circuit breakers. The market for valves is expected to grow in the coming years due to the presence of insulated-gate bipolar transistor (IGBT) valves, which are majorly used in the voltage sourced converter (VSC) technology in HVDC projects. The increasing demand for VSC technology in HVDC projects is expected to fuel the growth of the market for valves present in converter stations.

HVDC transmission market for line commutate converter (LCC) technology expected to hold the largest share in 2017

An LCC station is ideal for high-power long distance transmission. Moreover, LCC station reduces power losses in the complete HVDC transmission systems. However, the LCC-based technology has its own limitations though it is widely used in HVDC transmission worldwide. The LCC-HVDC technology is used for submarine and underground transmission, asynchronous link between AC systems, and long distance bulk power transmission through overhead lines.

Download PDF Brochure : http://www.marketsandmarkets.com/pdfdownload.asp?id=1225 [http://www.marketsandmarkets.com/pdfdownload.asp?id=1225&utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

HVDC transmission market in Asia Pacific likely to grow at a high rate during the forecast period 

In Asia Pacific (APAC), China and India are the major contributors to the growth of the HVDC transmission market due to the growing demand for power in these countries. Some other factors affecting the growth of the market in this region include aging power infrastructure, increase in power consumption pattern, economic uncertainties, and low carbon emission initiatives. High power quality along with reliable and stable power transmission are some of the key requirements in the power industry. This factor is driving the growth of the HVDC transmission market in the APAC region.

Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1225 [http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1225&utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

Major players operating in the HVDC transmission market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Co. (US), Toshiba Corporation (Japan), and Mitsubishi Electric Corporation (Japan).

 Browse Related Reports 

Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series & Combined), Component, Application, Verticals (Electric Utilities, Renewables, Railways, Industrial, And Oil & Gas), and by Geography - Global Forecast to 2020 http://www.marketsandmarkets.com/Market-Reports/flexible-ac-transmission-system-market-122 8.html [http://www.marketsandmarkets.com/Market-Reports/flexible-ac-transmission-system-market-1228.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

Static VAR Compensator (SVC) Market by Type (Thyristor Based, MCR-Based), by Component, by Vertical (Electric Utility, Renewable- Wind Power & Solar Farm, Railway, Industrial- Steel & Mining and Oil & Gas), and Geography - Global Forecast to 2020 http://www.marketsandmarkets.com/Market-Reports/static-var-compensator-market-96574756.htm l [http://www.marketsandmarkets.com/Market-Reports/static-var-compensator-market-96574756.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ]

Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp [http://www.marketsandmarkets.com/Knowledgestore.asp?utm_source=PRNewswire&utm_medium=Referral&utm_campaign=Subscription_AT ]

About MarketsandMarkets(TM)  

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. 

        

        Contact: 
        Mr. Rohan 
        MarketsandMarkets(TM) 
        701 Pike Street 
        Suite 2175, Seattle, 
        WA 98101, United States 
        Tel: +1-888-600-6441 
        Email: sales@marketsandmarkets.com

 

Visit Our Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors

LinkedIn @ http://www.linkedin.com/company/marketsandmarkets 


    Photo: 
    http://photos.prnewswire.com/prnh/20160303/792302

SOURCE MarketsandMarkets