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Global High Voltage Direct Current (HVDC) Transmission Systems Market 2017-2021

Global High Voltage Direct Current (HVDC) Transmission Systems Market 2017-2021

About High Voltage Direct Current (HVDC) Transmission Systems

Power is mainly generated, distributed, and consumed as AC. However, in power generation techniques, such as offshore wind farms and hydroelectricity, using AC system and lines for transmission of power over long distances of more than 600 km becomes uneconomical. This is due to the high-power losses and increasing costs of overhead lines. The increasing demand for power for commercial and residential use and the need to address the problem regarding power shortage have resulted in the supply of high voltage current from power generating sources to the destination. Thus, HVDC systems are being adopted, as these are economical owing to reduced power loss and overall cost for large distance transmission compared with AC lines. The high voltage transmission of electricity in the form of DC over a long distance by means of underground cables, overhead transmission line or grid interconnection is the HVDC transmission system.

Technavio’s analysts forecast the global high voltage direct current (HVDC) transmission systems market to grow at a CAGR of 15.58% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global high voltage direct current (HVDC) transmission systems market for 2017-2021. To calculate the market size, the report considers the revenue generation through new installation of HVDC lines and services.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global High Voltage Direct Current (HVDC) Transmission Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • ABB
  • GE Grid Solutions
  • Hitachi
  • Mitsubishi Electric Corporation
  • Siemens AG
Other prominent vendors
  • Nexans
  • NKT
  • Toshiba
  • NR Electric
  • Prysmian Group
  • American Semiconductor
  • TransGrid Solutions
  • HVDC Technologies
  • ATCO Electric
  • LSIS
Market driver
  • Optimal solution for long distance transmission
  • For a full, detailed list, view our report
Market challenge
  • High capital investments needed for installation of HVDC substation
  • For a full, detailed list, view our report
Market trend
  • Emerging hybrid HVDC circuit breaker
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global High Voltage Direct Current (HVDC) Transmission Systems Market 2017-2021

Technavio recognizes the following companies as the key players in the global high voltage direct current (HVDC) transmission systems market: ABB, GE Grid Solutions, Hitachi, Mitsubishi Electric Corporation, and Siemens

Other Prominent Vendors in the market are: Nexans, NKT, Toshiba, NR Electric, Prysmian Group, American Semiconductor, TransGrid Solutions, HVDC Technologies, ATCO Electric, and LSIS.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emerging hybrid HVDC circuit breaker. The hybrid HVDC circuit breaker is a major improvement in circuit breaker technologies, which can solve the problem of transmitting high voltage current across the lines. For instance, Siemens supplied commutation breaker for the HVDC transmission project in Xiluodu-Zhejiang, which was tested at a current voltage of 5000 amperes. The existing power transmission lines using AC systems for transmission of power, are now converted into DC systems to increase the power transmitting limits. The DC breaker can help in reducing the fault current to flow into the system. The combination of power electronics and mechanical switching will aid circuit breakers in interrupting the high voltage current flow.”

According to the report, one of the major drivers for this market is Optimal solution for long distance transmission. Power transmission using HVDC technology is mainly adopted for transmitting power over long distances. The increasing demand for power for commercial, industrial, and household activities has increased the need for developing a diverse portfolio of energy generation mix. It has also resulted in the supply of high voltage power through long transmission lines. HVDC technology helps in transmitting large voltage of power over long distances. Also, the power loss during transmission is less as compared with high voltage alternate current (HVAC) technology.

Further, the report states that one of the major factors hindering the growth of this market is High capital investments needed for installation of HVDC substation. The installation and setup of HVDC transmission system require high initial investment. The components, such as IGBT, AC filters, DC filters, and valves, used in HVDC station setups are very costly. Also, DC substations are very costly when compared with AC systems. This is mainly because AC systems require only transformers, whereas a DC converter station is required at both ends of the HVDC transmission interlinks for conversion from AC to DC and vice versa, which ultimately increases the cost of DC substation.

Companies Mentioned

ABB, GE Grid Solutions, Hitachi, Mitsubishi Electric Corporation, Siemens, Nexans, NKT, Toshiba, NR Electric, Prysmian Group, American Semiconductor, TransGrid Solutions, HVDC Technologies, ATCO Electric, and LSIS.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Development in HVDC transmission systems
      • Table HVDC transmission systems layout
      • Table Configuration used for HVDC transmission systems
  • Market landscape
    • Market overview
      • Table Market landscape
    • Market size and forecast
      • Table Global HVDC power transmission systems market ($ billions)
    • Financial assessment: Cost-benefit analysis
      • Table Typical cost analysis of HVDC and HVAC transmission system 2016
      • Table Key highlights of the financial assessment
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by power rating
    • Market overview
      • Table Global HVDC transmission market by power rating 2016 and 2021 (%)
    • Global HVDC transmission systems market by power rating up to 500 MW
      • Table Global HVDC transmission systems market by power rating up to 500 MW ($ billions)
    • Global HVDC transmission systems market by power rating between 501 MW and 2,000 MW
      • Table Global HVDC transmission systems market by power rating between 501 MW and 2,000 MW ($ billions)
      • Table HVDC transmission system projects with power rating between 500 MW and 2,000 MW
    • Global HVDC transmission systems market by power rating above 2,001 MW
      • Table Global HVDC transmission systems by power rating above 2,001 MW ($ billions)
  • Market segmentation by components
    • Market overview
      • Table Global HVDC transmission systems market by components 2016 and 2021 (%)
    • Global HVDC transmission systems market in substations
      • Table Global HVDC transmission systems market in substations ($ billions)
    • Global HVDC transmission systems market in underground cables
      • Table Global HVDC transmission systems market in underground cables ($ billions)
    • Global HVDC transmission systems market in overhead cables
      • Table Global HVDC transmission systems market in overhead cables ($ billions)
  • Geographical segmentation
    • Market overview
      • Table HVDC transmission systems market by geography 2016 and 2021 (%)
    • HVDC transmission systems market in EMEA
      • Table HVDC transmission systems market in EMEA ($ billions)
    • HVDC transmission systems market in APAC
      • Table HVDC transmission systems market in APAC ($ billions)
    • HVDC transmission systems market in Americas
      • Table HVDC transmission systems market in Americas ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Nuclear as a percentage of total electric generation in the countries 2015
    • Market challenges
      • Table Typical cost structure of HVDC converter station as a % of total cost in 2016
  • Market trends
    • Emerging hybrid HVDC circuit breaker
    • Technological advances in HVDC transmission system
    • Shift toward offshore renewable energy generation
  • Vendor landscape
    • Competition overview
    • Other prominent vendors
  • Key vendor analysis
    • ABB
      • Table ABB: Business verticals
      • Table ABB: Industries served
      • Table ABB: Product offerings
      • Table ABB: Highlights
    • GE Grid Solutions
      • Table GE: Business segments
      • Table GE Grid Solutions: HVDC Products and solution portfolio
      • Table GE: Highlights
    • Hitachi
      • Table Hitachi: Business segments
      • Table Hitachi: HVDC Solutions
      • Table Hitachi: Highlights
    • Mitsubishi Electric Corporation
      • Table Mitsubishi Electric Corporation: Products
      • Table Mitsubishi Electric Corporation: Highlights
    • Siemens
      • Table Siemens: Business segments
      • Table Siemens: Products
      • Table Siemens: Highlights
  • Appendix
    • List of abbreviations
  • Explore Technavio

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