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Future Prospects of the HVDC Transmission Market Worth $9.62 Billion by 2018

HVDC transmission is widely adopted, as being advantageous for asynchronous interconnections, long submarine cable crossings, and has the capability to deliver bulk power over a long distance.

 
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Dallas, TX -- (SBWIRE) -- 01/23/2014 -- According to a new market research report of “HVDC Transmission Market - By Technology (LCC/VSC), Configuration (Back To Back, Monopolar, Bipolar, Multi-Terminal), Power Rating (Below 500 MW, 501 MW - 999 MW, 1000 MW - 2000 MW & Above 2000 MW), Application, Component & Geography (2013 - 2018)".

Browse 117 market data tables and 55 figures spread through 303 pages and in-depth TOC on “HVDC Transmission Market”.
http://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html
Early buyers will receive 10% customization on this report.

This report describes the market dynamics of global HVDC transmission market, which comprises of drivers, restraints along with their impact analysis matrix. Impact analysis matrix depicts the impact of particular driver and restraint on the market at present and future impact on the market. The major driving factors for HVDC transmission market are the growth in offshore wind farms installation and increasing the government incentivization. In the report, different technologies are discussed like line commutated converters and voltage source converters. The configuration includes back to back, monopolar, bipolar and multi-terminal. The HVDC’s component comprises thyristor, IGBT (insulated gate bipolar transistor), surge arrester, DC circuit, smoothing reactors, converter transformer, harmonic filters, control & protection. The power rating market is categorized into below 500 MW, 501 MW – 999 MW, 1000 MW – 2000 MW, above 2000 MW.

The current power systems infrastructure that belongs to developed economies needs to be looked at for infrastructure up gradation, owing to the ageing infrastructureprocess, since these systems have existedfor several years now.Thus, there is a need for continuedinvestmentsin order to comply with the consistency of throughput for effective power transmission.

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The increased power demand and widespread distributed power generation has put enormous pressure on the existing power infrastructure.Stable power supply is needed for long distance transmission which may be hampered due to increased power failures, thereby causing economic hardships and issues for citizens residing in the city.

Ever increasing population is what drivesthe need foradequate power transmission to satiate the demand for power in urban cities. Also, limited availability of fossil fuel resources such as coal posesa serious concern for the future by being able to generate adequate power. This has opened up opportunities for high voltage direct current to transmit bulk power over long distances with minimum transmission losses.

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HVDC is widely adopted universally, as beingadvantageous for asynchronous interconnections, long submarine cable crossings, and has the capability to deliver bulk power for long distance.

Advancement in converter technologies such as power semiconductors has opened new vistas in HVDC transmission. This encompasses underground, offshore andvoltage stabilization applications. These applications have fuelled increased demand for the HVDC transmission market.
There is an increased need to have grids that are interconnected to each other in such a manner that power can be harnessed through each of these systems, allowing it to become more integrated, flexible,and stable.

An HVDC tie becomesessential for asynchronous transmission stability in interconnection systems. These interconnections supply powerto remote areas, where the prevailing AC power systems are weak.

Europe and APAC are considered to be the fastest growing markets due to high development in power transmission networks. American market also constitutes as a substantial share in high voltage direct current market where as the U.S. is considered as the major contributor. The ageing infrastructure and recent blackout in the U.S. is the reason behind the adoption of HVDC in the region. From these factors, it is believed that these markets will grow at a significant rate for the forecast period of 2013 and 2018.

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