HVDC Transmission Market Volume Forecast And Value Chain Analysis Upto 2030
HVDC
Transmission Market Analysis
The Global HVDC Transmission Market size is projected to be worth USD
17,448.0 million by 2030, registering a CAGR of 8.6% during the forecast
period (2022–2030).
COVID-19
Analysis
Supply chain
disruptions, economic situations, fluctuations in demand share, as well as
long-term & immediate effect of the COVID-19 pandemic possessed a negative
effect on the HVDC transmission market growth. The pandemic has slowed down
economic activity and pushed the economy into a steep recession. With the roots
being in China, the supply chains in the world are facing shutdown and
unprecedented disruption. Besides, the initial setback, the industry is likely
to return to normalcy during the forecast period and continue growing much
beyond also.
Drivers
·
New product launches and R&D Amongst major key Players
·
Increase in the installation of HVDC transmission systems
Opportunities
Strict
Government Regulations to offer Robust Opportunities
The stringent government
regulations about electricity transmission will offer robust opportunities for
the market over the forecast period.
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Restraints
Short
Circuits to act as Market Restraint
Short circuits in AC power system
will act as market restraint over the forecast period. Besides, the complexity
related to multi-terminal systems may also impede market growth.
Challenges
High
Installation and Implementation Costs to act as Market Challenge
The high installation and
implementation costs, standardization of HVDC systems, and low rate of adoption
of HVDC technology may act as market challenge over the forecast period.
HVDC Transmission System Market Segmentation Overview:
By technology type:
·
LCC
·
VSC
By application type:
·
Underground
·
Asynchronous
·
Offshore
By configuration type:
·
Monopolar
·
Bipolar
·
Multi Terminal
·
Back-To-Back
By voltage rating type:
·
640 kV
·
500 kV
·
200 kV
By Regions:
·
North America
·
Europe
·
Asia-Pacific
·
Rest of the World
Regional
Analysis
APAC to
Dominate HVDC Transmission Market
The APAC region
will domineer the HVDC transmission market over the forecast period. The
development of power infrastructure, China making huge investments in renewable
energy, implementation of latest UHVDC technology for power transmission,
growing population, increasing power consumption, aging infrastructure,
increased urbanization, construction of smart cities in emerging economies,
growing industrialization, and increasing establishment of power plants are
fuelling the global HVDC transmission market growth in this region.
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Key Players:
·
Seimens AG (Germany)
·
Hitachi (Japan)
·
ABB (Switzerland)
·
Schneider Electric (France)
·
Toshiba (Japan)
·
Alstom (France)
·
General Electric (U.S.)
·
DATC (U.S)
·
Mitsubishi (Japan)
·
NKT Holdings (Denmark)
·
Adani (India)
·
Nexans (France)
·
Prysmian Group (Italy)
·
C-EPRI Electric Power Engineering Co. Ltd (China)
FAQ’s:
1. What is
“HVDC Transmission” Market?
2. Who are
the Top Market manufacturers?
3. Which
are the most Business Regions across the globe?
4. How big
is the “HVDC Transmission” Market in upcoming Years?
5. What
are the Latest developments/industry updates in the “HVDC Transmission”
Market?
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