1 INTRODUCTION 17
1.1 STUDY OBJECTIVES 17
1.2 MARKET DEFINITION 17
1.3 STUDY SCOPE 18
1.3.1 MARKETS COVERED 18
1.3.2 GEOGRAPHIC SCOPE 18
1.3.3 YEARS CONSIDERED 19
1.4 CURRENCY 19
1.5 LIMITATIONS 19
1.6 STAKEHOLDERS 20

2 RESEARCH METHODOLOGY 21
2.1 RESEARCH DATA 21
2.1.1 SECONDARY DATA 22
2.1.1.1 Major secondary sources 22
2.1.1.2 Key data from secondary sources 23
2.1.2 PRIMARY DATA 23
2.1.2.1 Primary interviews with experts 23
2.1.2.2 Breakdown of primaries 24
2.1.2.3 Key data from primary sources 24
2.1.3 SECONDARY AND PRIMARY RESEARCH 25
2.1.3.1 Key industry insights 25
2.2 MARKET SIZE ESTIMATION 26
2.2.1 BOTTOM-UP APPROACH 26
2.2.1.1 Approach for capturing market size by bottom-up analysis
(demand side) 26
2.2.2 TOP-DOWN APPROACH 27
2.2.2.1 Approach for capturing market size by top-down analysis
(supply side) 27
2.3 DATA TRIANGULATION 28
2.4 RESEARCH ASSUMPTIONS 29

3 EXECUTIVE SUMMARY 30

4 PREMIUM INSIGHTS 34
4.1 LUCRATIVE OPPORTUNITIES IN HVDC TRANSMISSION MARKET 34
4.2 HVDC TRANSMISSION MARKET, BY TECHNOLOGY 34
4.3 HVDC TRANSMISSION MARKET IN APAC, BY PROJECT TYPE AND COUNTRY 35
4.4 HVDC TRANSMISSION MARKET, BY COUNTRY/REGION 36

5 MARKET OVERVIEW 37
5.1 INTRODUCTION 37
5.2 MARKET DYNAMICS 37
5.2.1 DRIVERS 38
5.2.1.1 Optimal solution for long distance transmission 38
5.2.1.2 Growing demand for VSC technology 39
5.2.1.3 Shift toward renewable energy sources 40
5.2.1.4 Supportive government policies and initiatives for HVDC transmission 40
5.2.1.5 Challenges with nuclear and fossil fuel-fed power plants 40
5.2.2 RESTRAINTS 41
5.2.2.1 High cost of installing HVDC transmission systems 41
5.2.2.2 High cost of circuit breakers 41
5.2.3 OPPORTUNITIES 41
5.2.3.1 High-tech power grids expected to foster power-sharing among neighboring countries 41
5.2.3.2 Growing need for integrated networks 42
5.2.3.3 Rapid adoption of UHVDC technology in China 42
5.2.4 CHALLENGES 42
5.2.4.1 Increasing interoperability among neighboring networks 42

6 INDUSTRY TRENDS 43
6.1 VALUE CHAIN ANALYSIS 43
6.2 REGULATORY STANDARDS 45

7 HVDC TRANSMISSION MARKET, BY COMPONENT 46
7.1 INTRODUCTION 47
7.2 CONVERTER STATIONS 48
7.2.1 VALVES 49
7.2.1.1 Valve regulates, directs, and controls the flow of power transmission 49
7.2.2 THYRISTOR VALVES 50
7.2.2.1 Insulated Gate Bipolar Transistors (IGBTs) 50
7.2.2.1.1 VSC valves used in DC transmission systems use IGBTs 50
7.2.3 TRANSFORMERS 51
7.2.3.1 Transformers are among the costliest components of converter stations 51
7.2.4 HARMONIC FILTERS 51
7.2.4.1 AC filters 52
7.2.4.1.1 AC filters mitigate voltage distortion and reduce interference in AC networks 52
7.2.4.2 DC filters 52
7.2.4.2.1 DC filters stabilize harmonics generated on the DC end of a converter station 52
7.2.5 CIRCUIT BREAKERS 52
7.2.5.1 Circuit breakers protect electrical power system 52
7.2.6 REACTORS 53
7.2.6.1 Reactors reduce harmonic currents in DC systems 53
7.2.7 SURGE ARRESTERS 53
7.2.7.1 Surge arresters help to limit the magnitude of transient over-voltages in HVDC systems 53
7.3 TRANSMISSION CABLES 53
7.3.1 TRANSMISSION CABLES TRANSMIT ELECTRICITY ACROSS COUNTRIES, ISLANDS, WIND FARMS, AND OIL PLATFORMS 53
7.4 OTHERS 54
7.4.1 OTHERS INCLUDE ELECTRODES, CONTROL & PROTECTION, AND REACTIVE POWER SUPPLIES 54

8 HVDC TRANSMISSION MARKET, BY PROJECT TYPE 55
8.1 INTRODUCTION 56
8.2 POINT-TO-POINT TRANSMISSION 58
8.2.1 MONOPOLAR 60
8.2.1.1 A monopolar transmission system is a configuration with a single high-voltage DC polarity 60
8.2.2 BIPOLAR 60
8.2.2.1 Bipolar systems reduces maintenance cost as there is only 1 common path that lowers power losses during transmission 60
8.3 BACK-TO-BACK STATIONS 64
8.3.1 BACK-TO-BACK STATIONS ARE MAINLY USED FOR CONVERTERS WITHIN THE SAME CONVERTER BUILDING 64
8.4 MULTI-TERMINAL SYSTEMS 67
8.4.1 MULTI TERMINAL PROJECT TYPES TO EXHIBIT HIGHEST GROWTH DURING THE FORECAST PERIOD 67

9 HVDC TRANSMISSION MARKET, BY TECHNOLOGY 70
9.1 INTRODUCTION 71
9.2 CAPACITOR COMMUTATED CONVERTER (CCC) 72
9.2.1 CCC IS DESIGNED BY ADDING AC CAPACITORS IN SERIES BETWEEN THE TRANSFORMER AND THE VALVE 72
9.3 VOLTAGE SOURCE CONVERTER (VSC) 73
9.3.1 HVDC 73
9.3.1.1 VSC-HVDC systems are widely used in wind power applications, bulk power transmissions, submarine and underground transmissions 73
9.3.2 ULTRA-HIGH VOLTAGE DIRECT CURRENT (UHVDC) 74
9.3.2.1 VSC-UHVDC to exhibit higher growth during the forecast period 74
9.4 LINE COMMUTATED CONVERTER (LCC), (THYRISTOR BASED) 75
9.4.1 HVDC 76
9.4.1.1 Presently LCC-HVDC held higher share than LCC-UHVDC 76
?
9.4.2 UHVDC 76
9.4.2.1 LCC-UHVDC technology enhances power transfer capacity to 10,000 MW and extends the distance capability to over 3,000 km 76

10 HVDC TRANSMISSION MARKET, BY APPLICATION 78
10.1 INTRODUCTION 79
10.2 BULK POWER TRANSMISSION 80
10.2.1 OVERHEAD 81
10.2.1.1 Prominently found in the US, Canada, Brazil, China, and India 81
10.2.2 SUBMARINE & UNDERGROUND 81
10.2.2.1 Submarine transmission cables are used for long-distance bulk power transmission across regions or countries 81
10.3 INTERCONNECTING GRIDS 83
10.3.1 HVDC TRANSMISSION SYSTEMS CAN BE USED TO INTERCONNECT ASYNCHRONOUSLY-OPERATED POWER SYSTEMS 83
10.4 INFEED URBAN AREAS 84
10.4.1 INFEED URBAN AREAS TO EXHIBIT HIGHEST GROWTH IN COMING YEARS 84

11 GEOGRAPHIC ANALYSIS 86
11.1 INTRODUCTION 87
11.2 AMERICAS 88
11.2.1 NORTH AMERICA 91
11.2.1.1 US 92
11.2.1.1.1 Growing demand for HVDC transmission projects 92
11.2.1.2 Canada 92
11.2.1.2.1 Implementation of HVDC interconnections in the Canadian National Electrical Grid 92
11.2.1.3 Mexico 92
11.2.1.3.1 Development of power grids to meet growing electricity demand 92
11.2.2 SOUTH AMERICA 93
11.2.2.1 Brazil 93
11.2.2.1.1 Huge potential for HVDC transmission projects 93
11.2.2.2 Rest of South America 93
11.3 EUROPE 94
11.3.1 UK 96
11.3.1.1 Reduction in greenhouse gas emission to improve the transmission and distribution network 96
11.3.2 GERMANY 96
11.3.2.1 Accelerated shift from nuclear power and fossil fuels to renewables 96
11.3.3 RUSSIA 96
11.3.3.1 Potential growth for HVDC projects in the country 96
?
11.3.4 FRANCE 97
11.3.4.1 Increasing adoption of HVDC technology for long-distance power transmissions 97
11.3.5 REST OF EUROPE 97
11.4 APAC 97
11.4.1 CHINA 99
11.4.1.1 Policy structure attracting more investments for HVDC projects 99
11.4.2 JAPAN 100
11.4.2.1 Investments by leading players driving the market?s growth 100
11.4.3 INDIA 100
11.4.3.1 Government initiatives to facilitate economic benefits and energy security 100
11.4.4 AUSTRALIA 100
11.4.4.1 Government policies for development and commercialization of solar energy resources 100
11.4.5 REST OF APAC 101
11.5 REST OF THE WORLD (ROW) 102
11.5.1 MIDDLE EAST 103
11.5.1.1 Emerging market for HVDC technology 103
11.5.2 AFRICA 103
11.5.2.1 Upcoming HVDC projects contributing to the overall growth of the continent 103
12 COMPETITIVE LANDSCAPE 104
12.1 OVERVIEW 104
12.2 MARKET RANKING OF PLAYERS, 2017 105
12.3 COMPETITIVE SCENARIO 106
12.3.1 PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS/TECHNOLOGICAL EXPANSIONS 106
12.3.2 PARTNERSHIPS, COLLABORATIONS, JOINT VENTURES, AND CONTRACTS 107
12.3.3 GEOGRAPHIC EXPANSION 108
13 COMPANY PROFILE 109
(Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
13.1 KEY PLAYERS 109
13.1.1 ABB 110
13.1.2 SIEMENS 114
13.1.3 GENERAL ELECTRIC 117
13.1.4 HITACHI 120
13.1.5 MITSUBISHI ELECTRIC 123
13.1.6 NEXANS 126
13.1.7 NKT A/S 128
13.1.8 NR ELECTRIC 130
13.1.9 C-EPRI ELECTRIC POWER ENGINEERING 132
13.1.10 PRYSMIAN GROUP 134
13.2 OTHER IMPORTANT PLAYERS 136
13.2.1 SCHNEIDER ELECTRIC 136
13.2.2 TOSHIBA 136
13.2.3 EPCOS 137
13.2.4 AECOM 137
13.2.5 PSC GROUP 138
13.3 KEY INNOVATORS 138
13.3.1 AMERICAN SUPERCONDUCTOR 138
13.3.2 TRANSGRID SOLUTIONS 139
13.3.3 ATCO 139
13.3.4 DOBLE ENGINEERING COMPANY 140
13.3.5 HVDC TECHNOLOGIES 140
*Details on Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
14 APPENDIX 141
14.1 DISCUSSION GUIDE 141
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS? SUBSCRIPTION PORTAL 144
14.3 AVAILABLE CUSTOMIZATIONS 146
14.4 RELATED REPORTS 146
14.5 AUTHOR DETAILS 147