Fast Market Research recommends "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)" from Markets and Markets, now available
Boston, MA -- (SBWIRE) -- 09/24/2013 -- The depleting conventional power generation has drawn attention towards exploring the new prospects of power generation sources. Across the globe power consumption, demand tends to increase in near future. The major economies such as China and India, are continuously striving to develop scope to generate power from new sources such as wind farms, solar panel and tidal to satiate the power consumption demand of the cities.
The increasing demand of electricity has laid enormous pressures on the existing infrastructure of the power generation capacity. Beside power generation, transmission loss is also one of the major concerns as heavy transmission losses are being incurred by the AC system. Hence, HVDC transmission becomes an interesting preposition across the globe due to its lower transmission losses, asynchronous interconnection and the capability to deliver bulk power for long distance transmission.
High voltage direct current grid is a main step towards power generation from the renewable sources. The growing need for integrated network, transmit bulk power generated from the remotely located renewable sources and interconnection with the neighboring grids are the key driver of the HVDC market. The Global market is expected to grow at a CAGR of 16.97% in the next five years (2013-2018).
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Some of the major companies dominating the global HVDC market are ABB (Switzerland) Siemens (Germany), Alstom (France), Toshiba (Japan), and others. ABB (Switzerland) and Siemens (Germany) are the key players of power generation and transmission market and it is found that these companies covers more than 80% of the overall market share in the global HVDC market.
Need for reliable transmission and increasing growth of interconnection among neighboring network are also boosting the adoption of HVDC. The connecting wind farms are also been a key factor that impacts the adoption of HVDC as often as the offshore plant located distantly and generates a constant high voltage. The high power transmission from offshore plant to the load centers needs an efficient, reliable system. HVDC has the ability to carry high voltage power over long distances with low transmission loss. It is believed that wind application will be the factor that will impact the HVDC market most.
In-depth competitive landscape for each player and market share has been given in the report along with geographic analysis for HDVC transmission market, covering the major regional markets, viz. Americas, Europe, Asia-Pacific, and Rest of the World (ROW). Some of the major contracts, agreements, major acquisitions, collaborations, and partnerships that boost the HVDC transmission are discussed in the report.
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