Global High Voltage Direct Current Transmission Market Size, Share, And Trends By Technology (Line Commuted Converter, Voltage Source Converter, Capacitor Commutated Converter, Others), By Application (Off-shore Power Transmission, On-shore Application), By Project Type (Point-to-Point, Back-to-Back, Multi-terminal), By Transmission Type (Submarine, Overhead, Underground), By Component (Filter, Converter Stations, Transmission Cables, Others), By DC Link Type (Monopolar, Bipolar, Homopolar), And By Geography – Forecast From 2019 To 2024

Description

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

DRIVERS

Growing electricity consumption

Integration of renewable energy into HDVC

RESTRAINT

High installation and implementation costs

Standardization of HDVC system

INDUSTRY UPDATE

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.

SEGMENTATION

The high voltage direct current transmission market has been analyzed through the following segments:

By Technology

Line Commuted Converter (LCC)

Voltage Source Converter (VSC)

Capacitor Commutated Converter (CCC)

Others

By Application

Off-shore power transmission

On-shore application

By Project Type

Point-to-Point

Back-to-Back

Multi-terminal

By Transmission Type

Submarine

Overhead

Underground

By Component

Filter

Converter Stations

Transmission cables

Others

By DC Link Type

Monopolar

Bipolar

Homopolar

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Others