HVDC Converters, Cables, Submarine Interconnections, Multiterminal Grids, and Hybrid Breakers: Global Market Analysis and Forecasts
Generally regarded as the most complex machine in the world today, the interconnected power grid started off with a centralized generator and a direct current (DC) transmission line in New York City in 1882. Since then, most grids have been built using alternating current (AC) and the DC line in New York was decommissioned. But today, at least 660 MW of the load demand in New York is once again powered by DC.
Growth in electricity demand is only one driver in the growth of HVDC transmission. Adverse effects of transmission system congestion and instability need to be fixed. HVDC allows interconnection of regional systems that operate asynchronously, which mitigates many instability issues that otherwise would cause outages in AC transmission. While AC transmission still dominates the transmission industry overall, doubts concerning the limited capability of classic HVDC transmission have been removed by innovative voltage-source converters (VSCs). Interest in VSCs has taken off, and Navigant Research forecasts a growth in demand for this technology. Overall, the global market for HVDC is growing at a steady pace. Based on the project inventory and conversations with vendors and project developers, Navigant Research forecasts that global cumulative HVDC converter revenue will amount to $56.6 billion between 2013 and 2020.
This Navigant Research report analyzes the global market for HVDC technologies. The study provides an analysis of the market issues, including trends, drivers, challenges, opportunities, and regulatory factors, related to HVDC systems. An inventory of HVDC lines in construction or planned is used as a basis for the global capacity and revenue forecasts, which are segmented by converter type and region and extend through 2020. The report also examines the key technologies and roadmaps associated with HVDC systems, as well as the competitive landscape.
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