Feb 5, 2019   SOURCE: BusinessWire

Global $12.3 Billion HVDC Transmission Market to 2024 - High-Tech Power Grids Expected to Foster Power-Sharing Among Neighboring Countries - ResearchAndMarkets.com

The "HVDC Transmission Market by Component (Converter Stations, Transmission Cables, and Others), Project Type (Point-to-Point, Back-to-Back, and Multi-Terminal), Technology (CCC, VSC, and lCC), Application, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018-2024.

The growth of this market can largely be attributed to optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission. However, the high cost of installing HVDC transmission systems is expected to restrict the growth of the said market to a certain extent.

Converter stations to register highest growth in HVDC transmission market during forecast period

The market for converter stations is expected to grow at the highest CAGR during the forecast period. In HVDC transmission systems, converters are bi-directional: operating as a rectifier (converting AC to DC), and as an inverter (converting DC to AC).

Converter stations comprise several converters in series or parallel. The requirement for more efficient power transmission and connecting asynchronous grids has filliped the demand for HVDC converter stations in recent years. These factors are expected to boost the adoption of converter stations in the coming years.

Bulk power transmission to hold largest share of HVDC transmission market during forecast period

HVDC systems are preferred for sending bulk power across long distances, with fewer power losses. That makes the underlying technology valuable for overcoming an important problem associated with renewable energy generation.

HVDC is economical, which results in higher efficiency, no reactive power compensation, and more stable and reliable operations than an equivalent high voltage alternating current (HVAC) system transmitting the same amount of power.

HVDC transmission market in APAC to register highest growth during forecast period

APAC is an economically growing region owing to the presence of technologically strong countries such as China and Japan. Favorable regulatory environment and rural electrification plans are expected to drive the growth of the HVDC transmission market in APAC. In addition, demand for uninterrupted power plays a crucial role in driving HVDC adoption in the region.

Moreover, emerging economies, such as China and India, provide power capacity addition across the existing power infrastructure. These factors are projected to fuel the growth of the HVDC transmission market in APAC in the coming years.

Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Lucrative Opportunities in HVDC Transmission Market

4.2 HVDC Transmission Market, By Technology

4.3 HVDC Transmission Market in APAC, By Project Type and Country

4.4 HVDC Transmission Market, By Country/Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Optimal Solution for Long Distance Transmission

5.2.1.2 Growing Demand for VSC Technology

5.2.1.3 Shift Toward Renewable Energy Sources

5.2.1.4 Supportive Government Policies and Initiatives for HVDC Transmission

5.2.1.5 Challenges With Nuclear and Fossil Fuel-Fed Power Plants

5.2.2 Restraints

5.2.2.1 High Cost of Installing HVDC Transmission Systems

5.2.2.2 High Cost of Circuit Breakers

5.2.3 Opportunities

5.2.3.1 High-Tech Power Grids Expected to Foster Power-Sharing Among Neighboring Countries

5.2.3.2 Growing Need for Integrated Networks

5.2.3.3 Rapid Adoption of UHVDC Technology in China

5.2.4 Challenges

5.2.4.1 Increasing Interoperability Among Neighboring Networks

6 Industry Trends

6.1 Value Chain Analysis

6.2 Regulatory Standards

7 HVDC Transmission Market, By Component

7.1 Introduction

7.2 Converter Stations

7.3 Transmission Cables

7.4 Others

8 HVDC Transmission Market, By Project Type

8.1 Introduction

8.2 Point-To-Point Transmission

8.3 Back-To-Back Stations

8.4 Multi-Terminal Systems

9 HVDC Transmission Market, By Technology

9.1 Introduction

9.2 Capacitor Commutated Converter (CCC)

9.3 Voltage Source Converter (VSC)

9.4 Line Commutated Converter (LCC), (Thyristor Based)

10 HVDC Transmission Market, By Application

10.1 Introduction

10.2 Bulk Power Transmission

10.3 Interconnecting Grids

10.4 Infeed Urban Areas

11 Geographic Analysis

11.1 Introduction

11.2 Americas

11.3 Europe

11.4 APAC

11.5 Rest of the World (RoW)

12 Competitive Landscape

12.1 Overview

12.2 Market Ranking of Players, 2017

12.3 Competitive Scenario

13 Company Profiles

13.1 Key Players

13.1.1 ABB

13.1.2 Siemens

13.1.3 General Electric

13.1.4 Hitachi

13.1.5 Mitsubishi Electric

13.1.6 Nexans

13.1.7 NKT A/S

13.1.8 NR Electric

13.1.9 C-Epri Electric Power Engineering

13.1.10 Prysmian Group

13.2 Other Important Players

13.2.1 Schneider Electric

13.2.2 Toshiba

13.2.3 Epcos

13.2.4 Aecom

13.2.5 PSC Group

13.3 Key Innovators

13.3.1 American Superconductor

13.3.2 Transgrid Solutions

13.3.3 Atco

13.3.4 Doble Engineering Company

13.3.5 HVDC Technologies

For more information about this report visit https://www.researchandmarkets.com/research/2jk5bq/global_12_3?w=4