High-Voltage Direct Current Transmission Systems - HVDC System Planning, Economic and Technology Issues, Market Drivers and Uncertainties, and Key Industry Players: Global Market Analysis and Forecasts
High-Voltage Direct Current Transmission Systems - HVDC System Planning, Economic and Technology Issues, Market Drivers and Uncertainties, and Key Industry Players: Global Market Analysis and Forecasts
Like much of the electricity grid, high-voltage transmission systems in
service today rely on many of the same technologies that existed at their
conception over 100 years ago. In the last 20 years, however, transmission
technologies have benefited from a new stage of innovation. Today over
two-thirds of new large-scale transmission systems planned or under
construction are high-voltage direct current (HVDC) systems. HVDC systems are
an essential component of grid buildouts to meet the growth in demand for
electricity. Around the world, HVDC is being relied upon to integrate large
amounts of intermittent renewable energy capacity, as well as rapid capacity
expansions of bulk power transmission to meet vibrant economic growth in the
developing world.
HVDC systems are, by nature, very capital intensive and in many world regions
they are driven by government programs. In other regions, planned HVDC systems
are at the mercy of capital availability and balkanized regulatory frameworks.
These factors, combined with the uncertainties of the global economy, lead
Pike Research to the conclusion that there is likely to be a significant gap
between the planned level of investment in HVDC systems and the investment
level that will actually happen. Pike Research's analysis indicates that while
the planned cumulative investment in HVDC amounts to nearly $220 billion
through 2020, there is an 80% probability that the actual range of investment
during that period will only be between $110 and $120 billion.
This Pike Research report provides a comprehensive analysis of the global
market opportunity for HVDC transmission systems. The study examines key
market drivers and barriers by world region, policy and regulatory issues,
economics of transmission system construction and operations, HVDC technology
issues, profiles of key industry players, and a comprehensive database of HVDC
systems planned and under construction. Market forecasts for HVDC systems and
spending are provided through 2020, with segmentation by world region,
including a probabilistic analysis of the likelihood of various investment
levels during the forecast period.
Key Questions Addressed:
What are the primary HVDC component and cable technologies and how are
they being deployed?
What are the key drivers influencing this market?
What are the primary technology issues facing participants and how are
they evolving?
What is a realistic forecast of systems that are likely to actually be
constructed and how much of an investment does this group represent?
Who needs this report?
Power generation companies
Transmission system operators
Transmission equipment vendors
Software developers
Government agencies
Investor community
Research Methodology
Pike Research's industry analysts utilize a variety of research sources in
preparing Research Reports. The key component of Pike Research's analysis is
primary research gained from phone and in-person interviews with industry
leaders including executives, engineers, and marketing professionals.
Analysts are diligent in ensuring that they speak with representatives from
every part of the value chain, including but not limited to technology
companies, utilities and other service providers, industry associations,
government agencies, and the investment community.
INFORMATION COLLECTION
Primary Research
Secondary Research
Supply Side
Executive Intervies Vendor Briefings Product Demos and Tours
Company News & Financials Technology & Product Specs Government Data Economic, Demographic Data
Demand Side
Consumer Surveys Business Leader Surveys
Case Studies Reference Customers
MARKET ANALYSIS
Qualitative
Quantitative
Business Models & Trends Technology Issues Policy & Regulatory Factors Competitive Landscape Profiles of Key Players
Market Sizing Segmentation by Technology,Geography,Application,etc. Market Share Analysis Forecasts by Segment
About Pike Research
Pike Research is a market research and consulting firm that provides in-depth
analysis of global clean technology markets. The company's research
methodology combines supply-side industry analysis, end-user primary research
and demand assessment, and deep examination of technology trends to provide a
comprehensive view of these industry sectors.
Table of Contents
Table of Contents
1. Executive Summary
1.1. High-Voltage Transmission Systems
1.1.1. High-Voltage Direct Current
1.2. HVDC Market Segments and Drivers
1.3. HVDC Market Challenges
1.4. HVDC Systems in Construction or Planned
1.5. HVDC System Market Forecasts
2. Market Issues
2.1. Electricity Transmission Markets
2.2. High-Voltage Transmission
2.2.1. Alternating Current and Direct Current Defined
2.2.2. HVDC
2.2.3. HVAC and HVDC Compared
2.2.3.1. Operational Differences
2.2.3.2. Economic Considerations
2.2.4. HVDC and UHVDC
2.2.5. HVDC Benefits Summary
2.3. Global Demand Drivers
2.3.1. Global HVDC Market Drivers
2.3.1.1. Electricity Demand
2.3.1.2. Energy Poverty
2.3.1.3. Technology Advancements
2.3.2. Regional HVDC Market Drivers
2.3.2.1. North America
2.3.2.2. Europe
2.3.2.3. China and India
2.3.2.4. Rest of World
2.4. HVDC Market Challenges
2.4.1. Land Use
2.4.2. Capital
2.4.3. Regulatory Policies
2.4.3.1. United States
2.4.3.2. Europe
2.4.3.3. China
2.4.3.4. India
2.5. HVDC and the Smart Grid
2.5.1. Efficient Infrastructure
2.5.2. Intelligent Hardware and Controls
3. Technology Issues
3.1. HVDC Technology Overview
3.1.1. Primary Components of HVDC Systems
3.1.2. Converter Technology
3.1.2.1. Current Sourced Converter
3.1.2.2. Voltage-Sourced Converter
3.1.3. Cables and Conductors
3.1.3.1. Mass Impregnated Submarine and Underground Cables
3.1.3.2. Extruded Submarine Cables
3.1.3.3. Overhead Conductors
3.2. HVDC System Configurations and Operating Modes
3.3. Submarine Interconnections
3.3.1. Undersea National Grid Interconnections
3.3.2. Connecting Wind Farms and Offshore Power Generation
3.3.3. Power Supply to Offshore Facilities
3.4. Technology Development
3.4.1. Converter Technology
3.4.2. HVDC Breakers
3.4.3. Superconductors
3.5. Installed System Cost Metrics
3.5.1. Hypothetical HVDC Line
3.5.1.1. Cost Parameters
3.5.1.2. Financing Assumptions
3.5.2. Comparison with HVAC Alternatives
4. HVDC System Applications
4.1. Connecting HVAC Grids
4.2. Multi-Terminal Operations
4.3. National and International Grid Buildouts
4.3.1. North America
4.3.1.1. United States
4.3.1.2. Canada
4.3.2. Europe
4.3.3. China and India
4.3.3.1. China
4.3.3.2. India
4.3.4. Rest of World
4.4. Planned or Under Construction HVDC Lines: 2012-2020
4.4.1. North America
4.4.2. Europe
4.4.3. China and India
4.4.4. Rest of World
5. Key Industry Players
5.1. HVDC Electronic Components Suppliers
5.1.1. ABB
5.1.2. Alstom
5.1.3. AMSC
5.1.4. Schweitzer Engineering Laboratories
5.1.5. Siemens AG
5.2. Large Power Grid Operators
5.2.1. China Southern Power Grid (CSP)
5.2.2. Power Grid Corp. of India Ltd. (POWERGRID)
5.2.3. State Grid Corp. of China (SGCC)
5.2.4. Statnett
5.2.5. TenneT
5.2.6. Western Electricity Coordinating Council
5.3. Cable and Equipment Manufacturers
5.3.1. Borealis
5.3.2. General Cable Corp. (NSW)
5.3.3. LS Cable & System
5.3.4. Nexans
5.3.5. nkt cables
5.3.6. Prysmian
6. Market Forecasts
6.1. HVDC Systems Market Forecasts
6.2. Global HVDC Systems Market
6.2.1. Global HVDC Market by Region
6.2.2. Global HVDC Converter Station Market
6.2.2.1. Global Annual HVDC Converter Forecast
6.2.2.2. Global Cumulative HVDC Converter Stations Forecast
6.2.2.3. Global Cumulative HVDC Converter Station Market Forecast by
Region
6.2.2.4. Global Cumulative HVDC Converter Station Forecast by
Technology
6.3. HVDC Systems Market Forecast Reflecting Global Uncertainties
6.3.1. Global Uncertainties
6.3.1.1. Hypothetical Events - Political
6.3.1.2. Hypothetical Events - Economic
6.3.1.3. Hypothetical Events - Sociological
6.3.1.4. Hypothetical Events - Technological
6.3.2. HVDC Systems Global Market Probabilistic Forecast
6.3.2.1. HVDC Systems Regional Market Probabilistic Forecast
7. Company Directory
8. Acronym and Abbreviation List
9. Table of Contents
10. Table of Charts and Figures
11. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
Cumulative Spending, Planned HVDC Systems, World Markets: 2012-2020
Cumulative HVDC Systems Spending Probability Distribution, World Markets:
2012-2020
Economic Tradeoffs Quantified, HVAC and HVDC
Electricity Demand, World Markets: 2010-2020
Electricity Demand, North America and Europe vs. China and India: 2010-2020
Total Costs, Hypothetical HVDC System
Annual Spending, Planned HVDC Systems, World Markets: 2012-2020
Annual Spending, Planned HVDC Systems by Region, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Systems by Region, World Markets:
2012-2020
Share of HVDC Converter Station Component Costs
HVDC Converter Station Costs by Capacity
Annual Spending, Planned HVDC Converter Stations, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Converter Stations, World Markets:
2012-2020
Cumulative Spending, Planned HVDC Converter Stations by Region, World
Markets: 2012-2020
Cumulative Spending, Planned HVDC Converter Stations by Technology, World
Markets: 2012-2020
Cumulative HVDC Systems Spending by Probability, World Markets: 2012-2020
Cumulative HVDC Systems Spending by Probability, North America: 2012-2020
Cumulative HVDC Systems Spending Probability Distribution, North America:
2012-2020
Cumulative HVDC Systems Spending by Probability, Europe: 2012-2020
Cumulative HVDC Systems Spending Probability Distribution, Europe:
2012-2020
Cumulative HVDC Systems Spending Probability, China and India: 2012-2020
Cumulative HVDC Systems Spending Probability Distribution, China and
India: 2012-2020
Cumulative HVDC Systems Spending by Probability, Rest of World: 2012-2020
Cumulative HVDC Systems Spending Probability Distribution, Rest of World:
2012-2020
HVDC Systems Planned for Commissioning by Region, World Markets: 2012-2020
HVAC and HVDC System Layouts, Midwest United States
Maximum Real Power Transfer, Subsea Cables
HVDC Overall Losses
Right-of-Way Benefits of HVDC Transmission
Economic Tradeoffs, HVAC and HVDC
Distribution of People Living Without Electricity
U.S. Electricity Reliability Councils
Regional Transmission Operators
EU 2050 Goals, Renewable Generation
Projected Share of Global Indicators, China
Simplified Synchrophasor Data System Schematic
Generic Converter Station Layout
Evolution of Converter Technology Capacity: 1970-2011
Chuxiong Converter Station
Shoreham HVDC Converter Station
Mass Impregnated Submarine Cables
HVDC XLPE Submarine and Underground Cables
HVDC System Configurations
2030 Offshore Grid Vision of European Wind Energy Association
Wind Turbine Cable Installation Schematic, Horns
Beatrice Offshore Wind Farm and Oil Platform
VSC Technology Advances
Multi-Terminal Operation with and without Circuit Breakers
Superconductor Wire Components
Superconductor Cables
TresAmigas Hub
PowerPipelines System, United States
Quebec-New England HVDC Interconnection
ANOVA Concept - U.S. National HVDC Backbone
Proposed Canadian Interconnections
EU Transmission Requirements: 2050
Friends of the Supergrid Concept
Medgrid Proposal
DESERTEC
The Mediterranean Ultra-Grid
Transmission Line Paths and Construction Plans in China
Indian HVDC Planned Corridors
Political, Economic, Sociological, and Technological Uncertainties
List of Tables
HVDC Systems Planned for Commissioning by Region, World Markets: 2012-2020
Economic Tradeoffs Quantified, HVAC and HVDC
Electricity Demand by Region, World Markets: 2010-2035
Current Converter Technology Capacity Limits by Vendor
Hypothetical HVDC Line Cost Elements
Project Financing Assumptions
Summary, Pro Forma Financial Statement
Costs per Unit Capacity and Energy: HVDC and HVAC Systems, 3,000 MW
Total Costs, Hypothetical HVDC System by Component
HVDC Lines, Planned or Under Construction, North America: 2012-2020
HVDC Lines, Planned or Under Construction, Europe: 2012-2020
HVDC Lines, Planned or Under Construction, China and India: 2012-2020
HVDC Lines, Planned or Under Construction, Rest of World: 2012-2020
Annual Spending, Planned HVDC Systems, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Systems, World Markets: 2012-2020
Annual Spending, Planned HVDC Systems by Region, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Systems by Region, World Markets:
2012-2020
Annual Spending, Planned HVDC Systems by Detailed Region, World Markets:
2012-2020
Share of HVDC Converter Station Component Costs
HVDC Converter Station Costs by Capacity
Annual Spending, Planned HVDC Converters, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Converters, World Markets: 2012-2020
Cumulative Spending, Planned HVDC Converters by Region, World Markets:
2012-2020
Cumulative Spending, Planned HVDC Converters by Technology, World Markets:
2012-2020
Cumulative HVDC Systems by Probability, World Markets: 2012-2020
Cumulative HVDC Systems Distribution, World Markets: 2010-2020
Cumulative HVDC Systems by Probability, North America: 2012-2020
Cumulative HVDC Systems Distribution, North America: 2010-2020
Cumulative HVDC Systems by Probability, Europe: 2012-2020
Cumulative HVDC Systems Distribution, Europe: 2010-2020
Cumulative HVDC Systems by Probability, China and India: 2012-2020
Cumulative HVDC Systems Distribution, China and India: 2010-2020
Cumulative HVDC Systems by Probability, Rest of World: 2012-2020
Cumulative HVDC Systems Distribution, Rest of World: 2010-2020
High-Voltage Direct Current Transmission Systems - HVDC System Planning, Economic and Technology Issues, Market Drivers and Uncertainties, and Key Industry Players: Global Market Analysis and Forecasts published by Navigant Research (formerly Pike Research) in June 26, 2012. This report consists of 100 Pages and the price starts from US $ 3900.
Press Release
Large Build-Outs of HVDC Transmission Systems Will Help Integrate Renewable Energy on the Power Grid
October 31st, 2012
Global Information Inc. would like to present a new market research report, "High-Voltage Direct Current Transmission Systems - HVDC System Planning, Economic and Technology Issues, Market Drivers and Uncertainties, and Key Industry Players: Global Market Analysis and Forecasts" by Navigant Research (formerly Pike Research).
Utilities, grid operators, and governments worldwide are engaged in massive programs to build new electricity infrastructure to meet increasing demand to support economic growth. The transmission systems necessary to support this growth have been a mix of high-voltage direct current (HVDC), limited to long-distance point-to-point bulk power transmission, and traditional high-voltage alternating current (HVAC) transmission lines. Today, new developments in HVDC conversion technologies are expanding the range of HVDC applications to include shorter, multi-terminal applications and ones aimed at integrating renewable energy assets into the power grid. According to a recent report from Pike Research, a part of Navigants Energy Practice, worldwide cumulative spending for HVDC systems between 2012 and 2020 will be between $110 billion and $120 billion.
"The sheer number and scale of planned HVDC system build-outs is impressive," says research director Carol Stimmel. "While some argue that very large HVAC systems built within grid networks can satisfy new demand, many believe that the future belongs to HVDC overlays that interconnect very large grid systems and ultimately enormous regions on a global scale. Over two-thirds of new large-scale transmission planned or under construction are HVDC systems."
HVDC technology facilitates the integration of renewable energy generation sources by keeping potential harmonic and frequency distortions from entering the AC grid network. While the scale and expense of HVDC build-outs over the remainder of this decade is sure to be immense, the distinction between "planned" and "probable" HVDC systems, however, is sharp. The number of announced public systems slated for commissioning between 2012 and 2020 is nearly 100, at a cost of a little more than $217 billion. That forecast, based on the officially announced budgets and schedules for HVDC systems, overstates the likely outcomes by nearly a factor of two, according to the report.
The report, "High-Voltage Direct Current Transmission Systems", provides a comprehensive analysis of the global market opportunity for HVDC transmission systems. The study examines key market drivers and barriers by world region, policy and regulatory issues, economics of transmission system construction and operations, HVDC technology issues, profiles of key industry players, and a comprehensive database of HVDC systems planned and under construction. Market forecasts for HVDC systems and spending are provided through 2020, with segmentation by world region, and including a probabilistic analysis of the likelihood of various investment levels during the forecast period.
