"The HVDC transmission market is expected to grow at a CAGR of 8.4% during the forecast period.”
The HVDC transmission market is expected to reach USD 10.77 billion by 2022, at a CAGR of 8.4% between 2016 and 2022. In terms of power capacity, the market is estimated to reach 85.79 GW by 2022, at a CAGR of 9.8% between 2016 and 2022. HVDC transmission solutions increase energy efficiency and reduce transmission losses; they require less use of land and are flexible in changing the flow direction of power. In addition, HVDC transmission helps in the network integration for connecting renewable energy sources beyond the national boundaries. These factors are expected to drive the growth of the market during the forecast period.
The market for VSC-based technology is estimated to grow at a significant pace during the forecast period. The UHVDC technology is still at its introductory stage; currently, there is not much interest for the new UHVDC transmissions systems across the world, except China. Thorough investigations are being carried out to fulfill the future demand for electricity, which is not reachable or nearby to the load centers. However, countries such as China, India, Brazil, the U.S., and South America might utilize far away located hydro and solar generation plants of UHVDC transmissions systems.
“The market in APAC is expected to grow at the highest rate during the forecast period.”
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The growth can be attributed to the high investments made by both the regional and global companies, such as ABB, Siemens, GE, and Hitachi among others, in this region.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 - 14%, Tier 2 - 29%, and Tier 3 - 57%
- By Designation: C-Level - 28%, Director Level - 29%, and Others - 43%
- By Region: North America - 29%, Europe - 57%, and APAC - 14%
The key players operating in this market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Hitachi (Japan), Toshiba (Japan), Nexans (France), Prysmian (Italy), NR Electric (China), American Superconductor (U.S), and Transgrid (U.S.) among others.
“Reasons to buy the report”:
- This report includes the market statistics pertaining to the HVDC transmission market, by technology, component, project type, application, and geography, along with their respective market size (in terms of value) and power generation capacity.
- The Porter’s five forces analysis, value chain analysis, and key strategies adopted by the market players have been provided for the HVDC transmission market.
- Major drivers, restraints, opportunities and, challenges for the HVDC transmission market have been detailed in this report.
- The report includes illustrative segmentation, analysis, and forecast for the HVDC transmission market based on its segments and subsegments.