HVDC transmission Market Growth, Size, Share and Industry Report to 2019-2025

Posted by nabeel on January 7th, 2021

The HVDC transmission market is witnessing an exponential growth across the globe. HVDC is a technology that is used in long-distance transmission of bulk power. This transmission is efficient as there is minimal electricity loss due to direct control over long-distance power flow. This makes the HVDC transmission technology valuable for overcoming an important problem associated with renewable energy generation, as a lot of power was lost in transmission of energy through renewable sources. The primary reason behind the loss in such power is high voltage current being converted to alternate current. HVDC system assists in connecting power grids with a direct current that improves stability and transmission capacity of an area.

Get Free Sample Copy @

https://www.omrglobal.com/request-sample/hvdc-transmission-market 

The HVDC transmission systems are cost-effective for transmission of electricity and they enable easy transmission of power generated from wind panels and solar panels that are at long distances. There are several factors contributing to HVDC transmission market growth, such as rapid industrialization across the globe and significant demand for renewable energy sources. Rapid industrialization across the globe has been reported due to government initiatives for domestic manufacturing of goods. For instance, Made in China is an initiative aimed to make China leader in global high-tech manufacturing. CCP (Chinese Communist Party) has taken steps to shift focus towards significant production of energy, mining products, and consumer goods such as footwear and clothing, which constitute almost half of the country’s economy.

Such government initiatives are supporting industrialization and thereby, leading to an increase in the consumption of energy. As a result, this significantly increases the need for more facilities in transmission and interconnection systems at optimal cost, which in turn, surges the demand for HVAC (High Voltage Alternating Current) and HVDC transmission systems. HVDC transmission systems are considered as a more efficient and economical way of power transmission as it can transport power efficiently and cost-effectively over long distances with reduced transmission lines rather than losses in AC systems. In addition, only two conductors are required for a single line in DC transmission, while in AC transmission, minimum of three conductors are required and for double circuit line, six conductors are required. Therefore, the HVDC transmission system is a cost-effective way to transmit power over long distances.

HVDC Transmission Market- Segmentation

By Type

• Point-to-Point System
• Back-to-Back System
• Multi Terminal System

By Technology

• Voltage Source Converter (VSC)
• Line Commutated Converters (LCC)

By Application

• Bulk Power Transmission
• Interconnecting Grids
• Infeed Urban Areas

HVDC Transmission Market- Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

For More Customized Data, Request for Report Customization @
https://www.omrglobal.com/report-customization/hvdc-transmission-market 

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com 
Contact no: +91 780-304-0404