High voltage direct current (HVDC) transmission is the massive transmission of electricity over long distances in the form of direct current, leading to cost saving and lesser loss as compared to HVAC transmission. The HDVC market is expected to have significant growth during the forecast period owing to the growing electricity consumption and the increasing investments in energy infrastructure. Integration of renewable energy into the HDVC system is also expected to drive the market growth in the coming years. However, high installation and implementation cost and standardization of HDVC system are expected to be a restraint for the market during the next five years.
The VSC based technology is expected to have the largest market share due to its increasing application in offshore, submarine and underground application. By geography, the APAC region is estimated to have a significant market growth due to an increase in investment in the energy sector in the region
Growing electricity consumption
Integration of renewable energy into HDVC
High installation and implementation costs
Standardization of HDVC system
In December 2018, Hitachi announced that it has decided to acquire the world leading power grids business from ABB Ltd. and has signed an agreement with ABB. It would initially acquire 80.1 % stake in Power Grids business by the first half of 2020.
In April 2019, Siemens was chosen to modernize India’s first and oldest HVDC link, Vindhyachal by installing its latest components.
The high voltage direct current transmission market has been analyzed through the following segments:
Line Commuted Converter (LCC)
Voltage Source Converter (VSC)
Capacitor Commutated Converter (CCC)
Off-shore power transmission
By Project Type
By Transmission Type
By DC Link Type
Middle East and Africa