HVDC (High Voltage Direct Current) Transmission Market to reach valued at $5,052 million and Grow at a 6.4% CAGR to 2020

2024-04-18 08:14:39 Technology

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Global High Voltage Direct Current Transmission (HVDC) Market is projected to witness CAGR of 9.56% over the forecast period to reach US$8.335 billion by 2021, from estimated value of US$4.819 billion in 2015. Growing electricity consumption is the major driver of HVDC market leading to increased investments in energy infrastructure to enhance power generation output. The occurrence of heavy transmission losses due to weak HVDC system and stringent government regulations regarding electricity transmission are other factors that contribute to the growth of global HVDC market. The demand for HVDC transmission is significantly increasing all over the globe due to its capability to deliver bulk power in case of long distance transmission without much transmission losses. The off-shore transmission will witness the fastest growth during the forecast period due to a high rate of renewable energy generation from increasing number of wind farms and solar panels worldwide. Moreover, growing concern for the reduction in CO2 emission from the power generation plant will also promote the growth of HVDC grid systems, thereby leading to the expansion of global HVDC transmission market. However, the market?s growth will be hindered by factors such as high implementation and installation costs, low rate of adoption of HVDC technology, and standardization of HVDC systems.

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The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of HVDC transmission. Complete industry analysis has also been covered by Porter?s Five Forces model as a part of this report section.

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Thirdly, HVDC Transmission market has been segmented by technology, application, components, and geography. By technology type, the market is segmented as LCC, VSC, CCC, and UHVDC. By application, the segmentation has been done as Off-Shore transmission, on-shore transmission, and others as a part of this report.
Important regions for vendors in terms of market size are covered through detailed geographical segmentation and country level forecasts. Geographical regions covered as a part of this section are Americas, Europe Middle East and Africa, and Asia Pacific.

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Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry player profiles as part of this section are General Electric, Siemens AG, AMSC, Hitachi Ltd., and Alstom along with several other players.
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