HVDC Transmission Market to Touch USD 17,448,0 Billion at 8.6% CAGR by 2030

Delivery of Bulk Power to Boost HVDC Transmission Market Growth 

Strict Government Regulations to Fuel HVDC Transmission Market

Market Analysis 

The global HVDC transmission market will touch USD 17,448,0 billion at a 8.6%  CAGR by 2030, states the latest Market Research Future (MRFR) report.

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Drivers 

Delivery of Bulk Power to Boost Market Growth 

The capability of delivering bulk power in long-distance transmission sans much transmission losses will boost market growth over the forecast period. 

Opportunities 

Strict Government Regulations to offer Robust Opportunities 

The stringent government regulations about electricity transmission will offer robust opportunities for the market over the forecast period. 

Restraints 

Short Circuits to act as Market Restraint 

Short circuits in AC power system will act as market restraint over the forecast period. Besides, the complexity related to multi-terminal systems may also impede market growth. 

Challenges 

High Installation and Implementation Costs to act as Market Challenge 

The high installation and implementation costs, standardization of HVDC systems, and low rate of adoption of HVDC technology may act as market challenge over the forecast period. 

Market Segmentation 

The global HVDC transmission market is bifurcated based on voltage rating, configuration, application, and technology. 

By technology, the VSC segment will lead the market over the forecast period. 

By application, the offshore segment will dominate the market in the forecast period. 

By configuration, the HVDC transmission market is segmented into monopolar, bipolar, back-to-back, and multi terminal. 

By voltage rating, the 640-800 kV will spearhead the market over the forecast period. 

COVID-19 Analysis

Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the HVDC transmission market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.

Regional Analysis 

APAC to Domineer HVDC Transmission Market 

The APAC region will domineer the HVDC transmission market over the forecast period. The development of power infrastructure, China making huge investments in renewable energy, implementation of latest UHVDC technology for power transmission, growing population, increasing power consumption, aging infrastructure, increased urbanization, construction of smart cities in emerging economies, growing industrialization, and increasing establishment of power plants are fuelling the global HVDC transmission market growth in this region. 

Key Players 

Eminent industry players profiled in the global HVDC transmission market report include Seimens AG (Germany), Hitachi (Japan), ABB (Switzerland), Schneider Electric (France), Toshiba (Japan), Alstom (France), General Electric (U.S.), and DATC (U.S). Mitsubishi (Japan), NKT Holdings (Denmark), Adani (India), Nexans (France), Prysmian Group (Italy), and C-EPRI Electric Power Engineering Co., Ltd (China) are among others.

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Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.

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