HVDC Transmission Systems Market To Reach USD 17.2 Billion By 2028 Due To Low Investment Requirements And Low Potential Loss – Future Market Insights, Inc.

Future Market Insights Global and Consulting Pvt. srl

The Canadian high voltage direct current (HVDC) transmission systems market is projected to reach 1.7 times by 2028. The Japanese high voltage direct current (HVDC) transmission systems market is projected to create an absolute dollar opportunity of ~$0.45 billion during 2022-28

DUBAI, UAE, Nov. 15, 2022 (GLOBE NEWSWIRE) — The global HVDC transmission systems market is expected to create an absolute dollar opportunity by expanding market growth at an impressive CAGR of 8.9% over the period projection from 2022 to 2028. The global market is projected to grow from a valuation of USD 10.3 billion in 2022 to USD 17.2 billion by 2028. HVDC transmission system demand accounted for nearly 15 percent of the market share of the global power transmission market.

The demand for HVDC transmission systems has accelerated with a robust CAGR of 7.3% during the historical period 2013 to 2021. The growth of the global HVDC transmission systems market is attributed to some major factors such as the requirement of low investment and low potential losses and the ability to transfer energy between separate AC networks.

Future Market Insights forecasts a comparison of the HVDC Transmission Systems Market and its growth in the first half of 2021 versus the first half of 2022. The observed difference in BPS values ​​in the HVDC Transmission Systems market in the first half of 2022 – The forecasts for the first half of 2022 imply an expected 40-unit reduction, according to IMF analysis. Furthermore, compared to the first half of 2021, the market is expected to decline by 90 points in the first half of 2022.

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Based on the nature of their architecture, HVDC transmission systems have high installation and maintenance costs. Modern applications require AC power, so it is imperative to install converter stations at endpoints to convert DC power to AC power, which increases costs. Therefore, it is holding back the growth of the market in H1 2022 compared to H1 2021.

HVDC (High voltage direct current) transmission systems are used for power transmission over long distances. These systems are expected to use direct current for efficient power transmission. HVDC transmission uses two technologies: Line Commutated Converter (LCC) and Voltage Source Converter (VSC).

The line switching converter is known as an economical technique based on thyristor power semiconductors. The growing demand for HVDC transmission system components such as AC and DC harmonic filters, converters, DC lines and circuit breakers to enable system safety is the current trend in the HVDC transmission system market.

Key points

  • The concept of long distance P2P high voltage direct current transmission does not necessarily require large overall investments. HVDC transmission systems also consist of low losses compared to equivalent alternating current transmission variants.

  • Although the installation of high-voltage DC conversion equipment at terminal stations is more cost-effective, the expense incurred for the overall long-distance DC transmission line is significantly less than the installed AC transmission line over the same distance.

  • HVDC transmission systems are expected to require relatively fewer conductors per unit distance than an AC transmission system. This important factor is estimated to drive the adoption of HVDC transmission systems during the forecast period.

  • The global market for HVDC transmission systems was valued at $5.4 billion in 2013. Suppliers of High Voltage Direct Current (HVDC) transmission systems focus on maintaining a long-term partnership with the consumer to increase market share in the global market.

  • High voltage direct current transmission systems include the potential to transfer electrical energy between separate alternating current networks. This specific power transfer can be autonomously controlled by HVDC transmission systems to support individual grids during transient conditions. Furthermore, the integration of at least one HVDC link into an AC network can improve the overall controllability of the system.

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Competitive landscape

HVDC transmission system solution providers focus on launching innovative solutions and expanding their HVDC transmission system solution offerings in order to provide improved technology along with new and technologically advanced solutions in new markets. The business alliance strategy helps the company in product development, technology management and the expansion of its customer base.

  • ABB Ltd

  • Siemens AG

  • Toshiba company

  • General Electric Company

  • Mitsubishi Electric Corporation

  • Prysmian SpA

  • TransGrid Solutions Inc.

  • Abengoa SA

  • ATCO LTD.

  • LS Industrial Systems Co., Ltd.

Learn more about HVDC transmission systems market

North America is expected to remain the dominant region and one of the most attractive markets throughout the forecast period. In the North American region, Canada is forecast to grow at a phenomenal rate of approximately 9.0% CAGR during the forecast period. The Canadian HVDC transmission systems market is expected to reach 1.7X by 2028.

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Market research on HVDC transmission systems by category

By system component:

By technology:

By distribution:

  • Up

  • Subway

  • Submarine

  • Combination

For rated power:

  • Below 1000 MW

  • 1000 – 2000MW

  • 2000 MW and above

Region:

  • North America

  • Latin America

  • APEJ

  • Japan

  • Eastern Europe

  • Western Europe

  • MEA

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Table of contents

1. Executive summary

1.1. Global market prospects

1.2. Demand-side trends

1.3. Supply-side trends

1.4. Analysis and recommendations

2. Market overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Major market trends

3.1. Major trends impacting the market

3.2. Product Innovation / Development Trends

4. HVDC Transmission Systems – Price Analysis

4.1. Price analysis, by component type

4.2. Benchmark analysis of average prices

5. HVDC Transmission Systems Market Demand Analysis 2013-2021 and Forecast, 2022-2028

5.1. Historical market size analysis (millions of US dollars), 2013-2021

5.2. Current and future market size projections (millions of US dollars), 2022-2028

TOC continue..!

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR certified market research and business consulting firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. Winner of the 2022 Clutch Leaders Award based on a high customer score (4.9/5), we’ve partnered with global companies on their business transformation journey and helped them realize their business ambitions. 80% of the largest Forbes 1000 companies are our customers. We serve global clients in all leading and niche market segments across all major industries.

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