Market Research Report
Global HVDC Transmission Market: Analysis By Technology (Capacitor Commutated, Voltage Source, Line Commutated), Component, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)
|Published by||Azoth Analytics||Product code||980054|
|Published||Content info||250 Pages
Delivery time: 2-3 business days
|Global HVDC Transmission Market: Analysis By Technology (Capacitor Commutated, Voltage Source, Line Commutated), Component, Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)|
|Published: December 31, 2020||Content info: 250 Pages||
The Global HVDC Transmission Market was valued at USD 7831.55 Million in the year 2019. Rapid urbanization along with favorable government reforms across residential & commercial establishments will drive the HVDC Transmission market. With the rising demand for electricity in Asia-Pacific countries and other developing nations, the need to transmit electricity over long distances with fewer transmission losses has increased, which will propel the market. Furthermore, growing community-based electrification demand along with increasing public and private funding toward the adoption of decentralized generation units will complement the industry outlook.
The need for an efficient and flexible electricity transmission system has been consistently felt in today's industrialized economies. There are a number of options available to policymakers and commercial entities, with high voltage direct current (HVDC) transmission systems emerging as a feasible mechanism of energy management. APAC region holds the major HVDC Transmission market share and developing nations such as China and India, which have unreliable and unstable power, are seeing a better opportunity for HVDC Transmission market to expand in near future.
Governments of different countries are increasingly investing in the development of electricity infrastructures to provide low-cost and clean electricity. This has led to an increased demand for HVDC Transmissions in remote areas. There is a trend in offshore wind for plants to move further away from the coastline to reduce complaints about the unsightliness of wind farms. This will, over time, increase the adoption rate for HVDC connections for offshore wind farms.