The global HVDC Transmission Market was valued at USD 6.45 billion in 2016 and is projected to reach USD 12.11 billion by 2025, growing at a CAGR of 7.25% from 2017 to 2025.
A high-voltage, direct current (HVDC) electric power transmission system (also called a power super highway or an electrical super highway) uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems.
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1. Market Drivers
1.1 Increasing Demand for Cost-Effective Solutions
1.2 Growing demand for System security offered by VCS Technology
1.3 Growing number ofregulations supporting Energy policies in Europe
1.4 Decommissioning of Nuclear and Coal Power Plants
2. Market Restraints
2.1 Rise in the Cost of Components
2.2 High installation costs
1. Global HVDC Transmission Market, by Project Type:
1.1 Point-To-Point Transmission
1.2 Back-To-Back Stations
1.3 Multi-Terminal Systems
1.3.1 Series Multi-Terminal Systems
1.3.2 Parallel Multi-Terminal Systems
2. Global HVDC Transmission Market, by Technology:
2.1 Capacitor Commutated Converter (CCC) Based
2.2 Voltage Source Converter (VSC) Based
2.3 Line Commutated Converter (LCC) Based (Thyristor Based)
3. Global HVDC Transmission Market, by Application:
3.1 Underground Power Transmission
3.1.2 Urban Areas
3.1.3 Industrial Locations
3.2 Asynchronous Grid Interconnection
3.3 Off-Shore Power Transmission
3.3.1 Wind Projects
3.3.2 Oil & Gas
4. Global HVDC Transmission Market, by Power Rating:
4.1 Below 500 MW
4.2 501â€“1000 MW
4.3 1001â€“1500 MW
4.4 1501â€“2000 MW
4.5 Above 2001 MW
5. Global HVDC Transmission Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. ABB Ltd.
2. Siemens AG
3. General Electric
4. Toshiba Corporation
5. Mitsubishi Electric Corporation
6. Nexans SA
7. NKT A/S
8. Hitachi Ltd.
9. Schneider Electric
10. NR Electric Co., Ltd.
11. Prysmian Group
12. C-EPRI Electric Power Engineering Co., Ltd
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the HVDC Transmission Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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