HVDC Transmission Market Competitive Scenario Till 2030 | Industry Growth Drivers and Expansion Opportunities

Global HVDC Transmission Market Overview:

The HVDC Transmission Market is expected to grow at a healthy CAGR of 8.6% during the forecast period of 2022 to 2030.

The HVDC transmission industry has experienced significant growth and development in recent years. This can be attributed to several factors, including the increasing demand for long-distance power transmission, the integration of renewable energy sources into the grid, and the need for efficient and reliable transmission systems.

The economic slowdown caused by the pandemic has led to a decrease in demand for HVDC transmission systems, as governments and businesses reduce their spending on infrastructure projects. Additionally, supply chain disruptions have caused difficulties for manufacturers, resulting in price hikes and reduced availability.

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Market Research Future Insights

HVDC (High-Voltage Direct Current) transmission is a technology that is used to transmit electrical power over long distances using direct current (DC) rather than alternating current (AC). HVDC transmission is used to connect remote renewable energy sources to the power grid, as well as to transmit power between countries and continents. The main advantage of HVDC transmission is that it is more efficient than AC transmission over long distances, as it reduces energy losses and enables power to be transmitted more efficiently. As for its impact due to COVID-19, the pandemic has had a mixed effect on the HVDC transmission market.

Regional Analysis:

• North America
• Europe
• Asia-Pacific
• Rest of the World

The Asia-Pacific region is expected to be the leading region in the HVDC transmission market, due to several factors, including the increasing demand for power transmission infrastructure, the growth of renewable energy sources, and the need to interconnect remote energy sources to the power grid. Additionally, the region has a large and rapidly growing population, along with urbanization and industrialization, which is driving the demand for power and creating a need for improved power transmission infrastructure.

Furthermore, the region has several developing countries, such as China and India, that are investing in HVDC transmission systems as part of their efforts to modernize their power infrastructure and improve access to electricity. These factors are expected to continue to drive the growth of the HVDC transmission market in the Asia-Pacific region in the coming years.

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Market Segmentation

The Global HVDC Transmission market has been segmented into technology and application, configuration, and voltage rating.

By technology type:

• LCC
• VSC

By application type:

• Underground
• Asynchronous
• Offshore

By configuration type:

• Monopolar
• Bipolar
• Multi Terminal
• Back-To-Back

By voltage rating type:

• 640 kV
• 500 kV
• 200 kV

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Key Players

Some of the key market players are Siemens, Toshiba Corporation, ABB Group, Schneider Electric, Adan, Hitachi Energy, General Electric Co., Mitsubishi Electric Corporation, Alstom, NKT A/S, Nexans.

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