PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457950
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457950
HVDC Transmission Market Size and Share Analysis by Technology, Project Type, Location, Application, Component - Global Industry Demand Forecast to 2030
The HVDC transmission market generated USD 11.3 billion in 2023. By the end of this decade, it will power at a rate of 5.5% and touch USD 16.4 billion by 2030. This is because of the growing requirement for electricity at a global level, the steady shift toward renewable energy sources, initiatives of the government for grid expansion, and tech progressions in T&D.
Drivers and Trends of the Industry
The industry is growing because of the rising interest in VSC technology and the enhanced transmission efficiency of the HVDC method as opposed to HVAC systems.
A rapid emergency response and independent control of reactive and active power are possible by the HVDC-VSC tech.
The current research and development efforts have presented a vast opportunity for power transmission corporations to fully make use of the advantages of this tech and disregard its drawbacks, for example, high losses.
Shift Toward Clean and Renewable Energy is Trending
For an improved environment, renewable energy sources are good because they can reduce the GHG effect by decreasing the emission of CO2 and other harmful gases.
Renewable energy is one of the businesses, that is growing the fastest at a global level, with more funding going to novel projects than before.
This is mainly because governments of several countries are taking initiatives to surge the production of renewable energy, which will surge the need for HVDC transmission systems.
Point-to-Point Projects Will Lead the Industry
On the basis of project type, the point-to-point category led the industry. These projects are used when loads of power are required to be transported between 2 converter stations.
As a result of their reliability in the transportation of substantial power loads, bipolar designs in point-to-point transmission have observed a major growth in acceptance in the APAC region recently.
Another factor powering the expansion of the industry in this category is the rising importance of European nations on the usage of renewable energy and the ensuing need for effective energy transmission.
Overhead Transmission Systems are Used the Most
The overhead category is the leader of the industry. Owing to the lower installation costs as opposed to underground cables, this transmission mode is becoming more and more prevalent for long distances. According to reports, in 2022, most of the HVDC lines were fitted above the ground level.
Also, since lines above the ground can transport, more electricity, more power, might be transmitted to longer distances. As opposed to underground cables, overhead lines also have lower transmission losses, therefore making them further effective over long distances.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by technology
- 1.4.2. Market size breakdown, by project type
- 1.4.3. Market size breakdown, by location
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by component
- 1.4.6. Market size breakdown, by region
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
Chapter 6. Global Market
Chapter 7. North America Market
Chapter 8. Europe Market
Chapter 9. APAC Market
Chapter 10. LATAM Market
Chapter 11. MEA Market
Chapter 12. U.S. Market
Chapter 13. Canada Market
Chapter 14. Germany Market
Chapter 15. France Market
Chapter 16. U.K. Market
Chapter 17. Italy Market
Chapter 18. Spain Market
Chapter 19. Japan Market
Chapter 20. China Market
Chapter 21. India Market
Chapter 22. Australia Market
Chapter 23. South Korea Market
Chapter 24. Brazil Market
Chapter 25. Mexico Market
Chapter 26. Saudi Arabia Market
Chapter 27. South Africa Market
Chapter 28. U.A.E. Market
Chapter 29. Competitive Landscape
Chapter 30. Company Profiles
Chapter 31. Appendix
