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Market Research Report
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1074857

High Voltage Direct Current (HVDC) Transmission Market Forecasts to 2028 - Global Analysis By Project Type (Back-to-Back Stations, Multi-Terminal Systems), Voltage Rating Type (200 KV,640 KV), and By Geography

Published: | Stratistics Market Research Consulting | 200+ Pages | Delivery time: 2-3 business days

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High Voltage Direct Current (HVDC) Transmission Market Forecasts to 2028 - Global Analysis By Project Type (Back-to-Back Stations, Multi-Terminal Systems), Voltage Rating Type (200 KV,640 KV), and By Geography
Published: May 1, 2022
Stratistics Market Research Consulting
Content info: 200+ Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

According to Stratistics MRC, the Global High Voltage Direct Current (HVDC) Transmission Market is accounted for $10.04 billion in 2021 and is expected to reach $18.24 billion by 2028 growing at a CAGR of 8.9% during the forecast period. The high voltage transmission system is a power transmission system used to transmit large amounts of power. High-voltage direct current power transmission systems use direct current for large amounts of power transmission. The HVDC transmission system can interconnect networks of different characteristics and frequencies, more competent than AC lines.

Market Dynamics:

Driver:

Installation of offshore wind energy generation projects

An increase in the installation of offshore wind energy generation projects will promote the market of the HV transmission system. Large amounts of energy generation can be done through marine wind energy. Thus, the generated energy can be distributed to the high demand for power. Governments around the world have begun promoting the generation of renewable energy. The capacity of high voltage transmission technology to integrate new generations with existing infrastructure is driving the market.

Restraint:

Increase in distributed and off-grid power generation

Share of distributed and off-grid power generation increases, the need and demand for HV transmission systems are expected to decline. The market is expected to slow down during the year. The off-grid system is specially constructed for on-site power generation and consumption. It has low voltage requirements, so there is no need to use the high voltage transmission system that is most suitable for long-distance, high-voltage applications.

Opportunity:

Increasing electricity consumption

The population is increasing rapidly, thereby increasing electricity consumption. More and more electrically powered devices are currently getting used to scale back fossil fuels and carbon emissions are being substituted by new technologies which also cause higher electricity consumption. The growing need for cable-based transmission rather than transmission through overhead lines is the other factor liable for the expansion of the HVDC transmission market.

Threat:

Power faults during short circuits within the AC power grid

A short circuit is an abnormal connection of very low impedance between two points of different potential, whether made intentionally or accidentally. These are the most common and severe kinds of faults, resulting in the flow of abnormal high currents through the equipment or transmission lines. If these faults are allowed to persist even for a short period, it leads to extensive damage to the equipment. These faults are caused due to the insulation failure between phase conductors or between earth and phase conductors or both.

The voltage source converter (VSC) segment is expected to be the largest during the forecast period

The voltage source converter (VSC) segment is estimated to have a lucrative growth as this technology converts AC voltage to DC voltage by using insulated gate bipolar transistors and pulse width modulation, or through switching in and out of smaller DC capacitors. The "switching off" capability means VSC converters don't require asynchronous voltage for commutation. So, VSC converters are considered a controllable voltage source system for HVDC transmission.

The infeed urban areas segment is expected to have the highest CAGR during the forecast period

The infeed urban areas segment is anticipated to witness the fastest CAGR growth during the forecast period as it is perfect for bolstering power into thickly populated urban areas, where the thickness of required overhead wires could cause noteworthy obstacles. In spite of being progressively costly, underground electrical cables usage is expanding in urban territories.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period in terms of power consumption. The event of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing the newest UHVDC technology for power transmission.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period as countries such as Germany and France increasingly turn to a low-carbon economy; the power generation structure in Europe is expected to undergo significant changes in the coming years, favoring renewable energy. The region also has several policies to support the transition to a low-carbon energy system.

Key players in the market

Some of the key players profiled in the High Voltage Direct Current (HVDC) Transmission Market include Prysmian Group, Toshiba, Siemens, Schneider Electric, PSC Group, NR Electric, Aecom, NKT A/S, Mitsubishi Electric, Hitachi, General Electric, Epcos, C-EPRI Electric Power Engineering, ABB and Nexans.

Key Developments:

In Febraury 2021, Nexans won the main framework contract to deliver cables, accessories, and installation services for underground grid connections at 90 kV, 220 kV, and 400 kV. The new agreement is a further extension of Nexans' long-term partnership with RTE, marking an increase in volume for Nexans, confirmed by RTE as one of the leading suppliers of high-voltage cables, accessories, and services.

In April 2018, ABB launched the world's first digitally integrated power transformer ABB AbilityTM. The ABB AbilityTM Power Transformer solution is a game-changer. In addition to providing actionable intelligence at the local level, it will enable users to leverage the full ecosystem of software solutions and services at the station and enterprise levels.

Types Covered:

  • Transparent Glass Panel
  • Opaque Glass Panel
  • Colored Glass Panel

Project Types Covered:

  • Back-to-Back Stations
  • Multi-Terminal Systems
  • Point-to-Point Transmission

Products Covered:

  • Low Power Rating Project
  • High-Power Rating Project

Technologies Covered:

  • Voltage Source Converter (VSC) based
  • Capacitor Commutated Converter (CCC) based
  • Line Commutated Converter (LCC), (Thyristor Based)
  • Other Technologies

Applications Covered:

  • Bulk Power Transmission
  • Infeed Urban Areas
  • Interconnecting Grids
  • Other Applications

Projects Covered:

  • Non Regional Project
  • Regional Project
  • Project- Public Policy Requirements
  • Multi Driver
  • Single Driver

Voltage Rating Types Covered:

  • 200 KV
  • 500 KV
  • 640 KV

Components Covered:

  • Converter Stations
  • Substations
  • Transmission Cables
  • Other Components

End Users Covered:

  • Commercial
  • Household

Regions Covered:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia Pacific
  • South America
    • Argentina
    • Brazil
    • Chile
    • Rest of South America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

What our report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

  • Company Profiling
    • Comprehensive profiling of additional market players (up to 3)
    • SWOT Analysis of key players (up to 3)
  • Regional Segmentation
    • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
  • Competitive Benchmarking
    • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Product Code: SMRC21456

Table of Contents

1 Executive Summary

2 Preface

  • 2.1 Abstract
  • 2.2 Stake Holders
  • 2.3 Research Scope
  • 2.4 Research Methodology
    • 2.4.1 Data Mining
    • 2.4.2 Data Analysis
    • 2.4.3 Data Validation
    • 2.4.4 Research Approach
  • 2.5 Research Sources
    • 2.5.1 Primary Research Sources
    • 2.5.2 Secondary Research Sources
    • 2.5.3 Assumptions

3 Market Trend Analysis

  • 3.1 Introduction
  • 3.2 Drivers
  • 3.3 Restraints
  • 3.4 Opportunities
  • 3.5 Threats
  • 3.6 Product Analysis
  • 3.7 Technology Analysis
  • 3.8 Application Analysis
  • 3.9 End User Analysis
  • 3.10 Emerging Markets
  • 3.11 Impact of Covid-19

4 Porters Five Force Analysis

  • 4.1 Bargaining power of suppliers
  • 4.2 Bargaining power of buyers
  • 4.3 Threat of substitutes
  • 4.4 Threat of new entrants
  • 4.5 Competitive rivalry

5 Global High Voltage Direct Current (HVDC) Transmission Market, By Type

  • 5.1 Introduction
  • 5.2 Transparent Glass Panel
  • 5.3 Opaque Glass Panel
  • 5.4 Colored Glass Panel

6 Global High Voltage Direct Current (HVDC) Transmission Market, By Project Type

  • 6.1 Introduction
  • 6.2 Back-to-Back Stations
  • 6.3 Multi-Terminal Systems
  • 6.4 Point-to-Point Transmission
    • 6.4.1 Bipolar
    • 6.4.2 Monopolar

7 Global High Voltage Direct Current (HVDC) Transmission Market, By Product

  • 7.1 Introduction
  • 7.2 Low Power Rating Project
  • 7.3 High-Power Rating Project

8 Global High Voltage Direct Current (HVDC) Transmission Market, By Technology

  • 8.1 Introduction
  • 8.2 Voltage Source Converter (VSC)
    • 8.2.1 VSC High Voltage Direct Current
    • 8.2.2 VSC Ultra-High Voltage Direct Current (UHVDC)
  • 8.3 Capacitor Commutated Converter (CCC)
  • 8.4 Line Commutated Converter (LCC), (Thyristor Based)
    • 8.4.1 LCC High Voltage Direct Current
    • 8.4.2 LCC Ultra-High Voltage Direct Current (UHVDC)
  • 8.5 Other Technologies
    • 8.5.1 Direct Current Compact Switchgear
    • 8.5.2 Full Bridge Topology

9 Global High Voltage Direct Current (HVDC) Transmission Market, By Application

  • 9.1 Introduction
  • 9.2 Bulk Power Transmission
    • 9.2.1 Underground
    • 9.2.2 Submarine & Offshore
    • 9.2.3 Overhead
  • 9.3 Infeed Urban Areas
  • 9.4 Interconnecting Grids
  • 9.5 Other Applications
    • 9.5.1 Upgrades
    • 9.5.2 Remote Loads
    • 9.5.3 Remote Generation

10 Global High Voltage Direct Current (HVDC) Transmission Market, By Project

  • 10.1 Introduction
  • 10.2 Non Regional Project
  • 10.3 Regional Project
  • 10.4 Project- Public Policy Requirements
  • 10.5 Multi Driver
  • 10.6 Single Driver

11 Global High Voltage Direct Current (HVDC) Transmission Market, By Voltage Rating Type

  • 11.1 Introduction
  • 11.2 200 KV
  • 11.3 500 KV
  • 11.4 640 KV

12 Global High Voltage Direct Current (HVDC) Transmission Market, By Component

  • 12.1 Introduction
  • 12.2 Converter Stations
    • 12.2.1 Transformers
    • 12.2.2 Valves
    • 12.2.3 Thyristor Valves (Insulated Gate Bipolar Transistors (IGBTS))
    • 12.2.4 Harmonic Filters
      • 12.2.4.1 DC Filters
      • 12.2.4.2 AC Filters
    • 12.2.5 Surge Arresters
    • 12.2.6 Smoothing Reactors
    • 12.2.7 Circuit Breakers
  • 12.3 Substations
  • 12.4 Transmission Cables
  • 12.5 Other Components
    • 12.5.1 Reactive Power Supplies
    • 12.5.2 Electrodes
    • 12.5.3 Direct Current Lines
    • 12.5.4 Control & Protection

13 Global High Voltage Direct Current (HVDC) Transmission Market, By End User

  • 13.1 Introduction
  • 13.2 Commercial
  • 13.3 Household

14 Global High Voltage Direct Current (HVDC) Transmission Market, By Geography

  • 14.1 Introduction
  • 14.2 North America
    • 14.2.1 US
    • 14.2.2 Canada
    • 14.2.3 Mexico
  • 14.3 Europe
    • 14.3.1 Germany
    • 14.3.2 UK
    • 14.3.3 Italy
    • 14.3.4 France
    • 14.3.5 Spain
    • 14.3.6 Rest of Europe
  • 14.4 Asia Pacific
    • 14.4.1 Japan
    • 14.4.2 China
    • 14.4.3 India
    • 14.4.4 Australia
    • 14.4.5 New Zealand
    • 14.4.6 South Korea
    • 14.4.7 Rest of Asia Pacific
  • 14.5 South America
    • 14.5.1 Argentina
    • 14.5.2 Brazil
    • 14.5.3 Chile
    • 14.5.4 Rest of South America
  • 14.6 Middle East & Africa
    • 14.6.1 Saudi Arabia
    • 14.6.2 UAE
    • 14.6.3 Qatar
    • 14.6.4 South Africa
    • 14.6.5 Rest of Middle East & Africa

15 Key Developments

  • 15.1 Agreements, Partnerships, Collaborations and Joint Ventures
  • 15.2 Acquisitions & Mergers
  • 15.3 New Product Launch
  • 15.4 Expansions
  • 15.5 Other Key Strategies

16 Company Profiling

  • 16.1 Prysmian Group
  • 16.2 Toshiba
  • 16.3 Siemens
  • 16.4 Schneider Electric
  • 16.5 PSC Group
  • 16.6 NR Electric
  • 16.7 Aecom
  • 16.8 NKT A/S
  • 16.9 Mitsubishi Electric
  • 16.10 Hitachi
  • 16.11 General Electric
  • 16.12 Epcos
  • 16.13 C-EPRI Electric Power Engineering
  • 16.14 ABB
  • 16.15 Nexans

List of Tables

  • Table 1 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Region (2020-2028) ($MN)
  • Table 2 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Type (2020-2028) ($MN)
  • Table 3 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Transparent Glass Panel (2020-2028) ($MN)
  • Table 4 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Opaque Glass Panel (2020-2028) ($MN)
  • Table 5 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Colored Glass Panel (2020-2028) ($MN)
  • Table 6 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Project Type (2020-2028) ($MN)
  • Table 7 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Back-to-Back Stations (2020-2028) ($MN)
  • Table 8 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Multi-Terminal Systems (2020-2028) ($MN)
  • Table 9 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Point-to-Point Transmission (2020-2028) ($MN)
  • Table 10 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Bipolar (2020-2028) ($MN)
  • Table 11 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Monopolar (2020-2028) ($MN)
  • Table 12 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Product (2020-2028) ($MN)
  • Table 13 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Low Power Rating Project (2020-2028) ($MN)
  • Table 14 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By High-Power Rating Project (2020-2028) ($MN)
  • Table 15 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Technology (2020-2028) ($MN)
  • Table 16 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Voltage Source Converter (VSC) (2020-2028) ($MN)
  • Table 17 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By VSC High Voltage Direct Current (2020-2028) ($MN)
  • Table 18 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By VSC Ultra-High Voltage Direct Current (UHVDC) (2020-2028) ($MN)
  • Table 19 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Capacitor Commutated Converter (CCC) (2020-2028) ($MN)
  • Table 20 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Line Commutated Converter (LCC), (Thyristor Based) (2020-2028) ($MN)
  • Table 21 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By LCC High Voltage Direct Current (2020-2028) ($MN)
  • Table 22 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By LCC Ultra-High Voltage Direct Current (UHVDC) (2020-2028) ($MN)
  • Table 23 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Other Technologies (2020-2028) ($MN)
  • Table 24 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Direct Current Compact Switchgear (2020-2028) ($MN)
  • Table 25 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Full Bridge Topology (2020-2028) ($MN)
  • Table 26 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Application (2020-2028) ($MN)
  • Table 27 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Bulk Power Transmission (2020-2028) ($MN)
  • Table 28 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Underground (2020-2028) ($MN)
  • Table 29 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Submarine & Offshore (2020-2028) ($MN)
  • Table 30 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Overhead (2020-2028) ($MN)
  • Table 31 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Infeed Urban Areas (2020-2028) ($MN)
  • Table 32 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Interconnecting Grids (2020-2028) ($MN)
  • Table 33 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Other Applications (2020-2028) ($MN)
  • Table 34 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Upgrades (2020-2028) ($MN)
  • Table 35 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Remote Loads (2020-2028) ($MN)
  • Table 36 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Remote Generation (2020-2028) ($MN)
  • Table 37 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Project (2020-2028) ($MN)
  • Table 38 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Non Regional Project (2020-2028) ($MN)
  • Table 39 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Regional Project (2020-2028) ($MN)
  • Table 40 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Project- Public Policy Requirements (2020-2028) ($MN)
  • Table 41 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Multi Driver (2020-2028) ($MN)
  • Table 42 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Single Driver (2020-2028) ($MN)
  • Table 43 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Voltage Rating Type (2020-2028) ($MN)
  • Table 44 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By 200 KV (2020-2028) ($MN)
  • Table 45 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By 500 KV (2020-2028) ($MN)
  • Table 46 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By 640 KV (2020-2028) ($MN)
  • Table 47 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Component (2020-2028) ($MN)
  • Table 48 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Converter Stations (2020-2028) ($MN)
  • Table 49 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Transformers (2020-2028) ($MN)
  • Table 50 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Valves (2020-2028) ($MN)
  • Table 51 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Thyristor Valves (Insulated Gate Bipolar Transistors (IGBTS)) (2020-2028) ($MN)
  • Table 52 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Harmonic Filters (2020-2028) ($MN)
  • Table 53 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Surge Arresters (2020-2028) ($MN)
  • Table 54 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Smoothing Reactors (2020-2028) ($MN)
  • Table 55 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Circuit Breakers (2020-2028) ($MN)
  • Table 56 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Substations (2020-2028) ($MN)
  • Table 57 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Transmission Cables (2020-2028) ($MN)
  • Table 58 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Other Components (2020-2028) ($MN)
  • Table 59 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Reactive Power Supplies (2020-2028) ($MN)
  • Table 60 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Electrodes (2020-2028) ($MN)
  • Table 61 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Direct Current Lines (2020-2028) ($MN)
  • Table 62 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Control & Protection (2020-2028) ($MN)
  • Table 63 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By End User (2020-2028) ($MN)
  • Table 64 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Commercial (2020-2028) ($MN)
  • Table 65 Global High Voltage Direct Current (HVDC) Transmission Market Outlook, By Household (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.