HVDC Transmission Market Research Report: Information by Technology (LCC, VSC) Application (Underground, Offshore, Asynchronous grid) Configuration (Monopolar, bipolar, back-to-back, multi terminal), Voltage rating (<350 kV, 350-640 kV, 640-800 kV, >800 kV)- Forecast till 2027
ID: MRFR/E&P/4569-HCR | February 2021 | Region: Global | 100 pages
Market Scenario
Global power industry is expected to witness tremendous change given the technological advancements from traditional and conventional transmission and distribution system to efficient transmission lines. One of the prevailing reasons of higher losses from transmission lines is high voltage current getting converted to alternate current. To upgrade the technological aspects of transmission of power, High Voltage Direct Current (HVDC) transmission system can be used, as they are feasible over conventional High Voltage Alternate Current transmission system. For instance, HVDC transmission lines for 800 kV long line counts only 3% loss per 1000 km while HVAC transmission lines count 7% loss for the same parameters. With rising demand for electricity transmission system, the HVDC transmission cables are expected to benefited as they have the advantage of transmission of electricity from off-shore wind farms. Until the end of 2017, total wind electricity generation remained above 50 GW, out of which offshore wind farms generated around 18.18 GW. The major disadvantage of traditional transmission cables was involved with overhead hanging cables that are more prone to accidents. This has been overcome by HVDC underground cables, and thus, they capture the attention of power infrastructure manufactures.
One of the ways to improve the performance of the power sector is by transforming the transmission and distribution infrastructure. This can be done by creating anefficient transmission infrastructure, which significantly helps reduce losses in transmission, transmitting electricity from renewable sources to energy deficit areas, and reducing the cost of electricity. HVDC transmission cables improve the efficiency of energy transmission by 30-40% than traditional overhead AC lines. There are a variety of HVDC transmission lines available in the market with prominent players having grasp of the market.
On the basis of application segment, HVDC transmission system is classified as offshore, asynchronous, and underground. Offshore transmission system is expected to dominate the market share out of the other categories as it brings back the power generated from the offshore wind farms and provides electricity to the offshore oil rigs by stepping up to AC at converter stations. This is mainly because the HVDC transmission cables have feasible underground cable installation and are cost-effective than AC cables, over a length of 600 km. Besides, HVDC transmission systems have the capability of interconnection of grids nationwide that will help in the integration of grids, reduction of regional fluctuations, and balancing the demand and supply of electricity in various regions.
Global HVDC transmission market has been segmented on the basis of technology, application, configuration, and voltage rating and region. Based on technology, HVDC transmission market is categorized as Low Commuted Converter (LCC) and Voltage Sourced Converter (VSC). LCC HVDC systems use semiconductors that can withstand voltage in either polarity whereas VSC use semiconductors that can pass the current in any direction. On the basis of application, the market is further segmented into underground cables, asynchronous grids and offshore cables. HVDC cables are used to connect power generated from offshore renewable sources to onshore grid connection, such as the offshore wind. Based on configuration, the market is segmented into mono-polar, bi-polar, back-to-back, and multi-terminal links. By region, the market is segmented into the regions of North America, Europe, Asia- Pacific, and Rest of the World.
HVDC transmission market is expected to majorly benefit in the coming years due to expanding infrastructure in offshore region around the world, increasing power connections from the developing countries such as India, Japan, and China, and expansion of transmission and distribution systems. HVDC transmission systems market is expected to be dominated by LCC systems on technology segment, by offshore on application segment, and by multi-terminal on configuration segment and by Asia Pacific on region segment.
Global HVDC transmission market is expected to witness ~ 6.5% CAGR during the forecast period.
Market Segmentation
Global HVDC Transmission Market
The growth of global HVDC transmission market is encouraged by the growing demand for electrical power from offshore wind farms. As the traditional transmission system has become obsolete and out dated, the HVDC transmission systems help in better transmission systems than conventional AC systems, and reduce losses in transmitting electricity. Other than this, HVDC transmission significantly help fetch power from the offshore power sources. With the trend of smart cities, conventional overhead transmission cables are expected to be replaced with HVDC Underground transmission cables. Installation of HVDC transmission cables will further compensate the transmission of electricity, internationally, by asynchronous grid systems.
Key Players
The key players of global HVDC transmission market are 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.
Frequently Asked Questions (FAQ) :
The HVDC transmission market can surge at 6.5% CAGR by 2023.
By the end of the assessment period, the HVDC transmission market can attain substantial valuation.
Seimens AG (Germany), ABB (Switzerland), Hitachi (Japan), and Schneider Electric (France) are some reputed names in the HVDC transmission market.
Increase in the installation of HVDC transmission systems can prompt their market expansion.
In APAC, the need to for reduction of electricity loss during transmission can impel the regional market growth.
Table of content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining power of buyers
3.1.3 Bargaining power of suppliers
3.1.4 Threat of substitutes
3.1.5 Segment rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global HVDC TRANSMISSION MARKET, By Technology Type
5.1 Introduction
5.2 LCC
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast by Region, 2020-2027
5.2.2.1 Current Source Converter
5.2.2.2Thyristor based technology
5.3 VSC
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast by Region, 2020-2027
5.3.2.1 Self-Commutated Converter
5.3.2.1Transistor based technology
6 Global HVDC TRANSMISSION MARKET, By Application Type
6.1 Introduction
6.2 Underground
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast by Region, 2020-2027
6.3 Asynchronous
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast by Region, 2020-2027
6.4 Offshore
6.4.1 Market Estimates & Forecast, 2020-2027
6.4.2 Market Estimates & Forecast by Region, 2020-2027
7 Global HVDC TRANSMISSION MARKET, By Configuration Type
7.1 Introduction
7.2 Monopolar
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast by Region, 2020-2027
7.3 Bipolar
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast by Region, 2020-2027
7.4 Multi terminal
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast by Region, 2020-2027
7.5 Back-to-back
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast by Region, 2020-2027
8 Global HVDC TRANSMISSION MARKET, By Voltage Rating Type
8.1 Introduction
8.2 640 kV
8.2.1 Market Estimates & Forecast, 2020-2027
8.2.2 Market Estimates & Forecast by Region, 2020-2027
8.3 500 kV
8.3.1 Market Estimates & Forecast, 2020-2027
8.3.2 Market Estimates & Forecast by Region, 2020-2027
8.4 200 kV
8.4.1 Market Estimates & Forecast, 2020-2027
8.4.2 Market Estimates & Forecast by Region, 2020-2027
9 Global HVDC TRANSMISSION MARKET, By Region
9.1 Introduction
9.2 North America
9.2.1 Market Estimates & Forecast, 2020-2027
9.2.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.3 Market Estimates & Forecast by Application Type, 2020-2027
9.2.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.2.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.2.6 U.S.
9.2.6.1 Market Estimates & Forecast, 2020-2027
9.2.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.2.6.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.2.6.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.2.7 Canada
9.2.7.1 Market Estimates & Forecast, 2020-2027
9.2.7.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.2.7.4 Market Estimates & Forecast by Application Type, 2020-2027
9.2.7.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.2.7.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3 Europe
9.3.1 Market Estimates & Forecast, 2020-2027
9.3.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3.6 U.K
9.3.6.1 Market Estimates & Forecast, 2020-2027
9.3.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.6.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.6.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3.7 Germany
9.3.7.1 Market Estimates & Forecast, 2020-2027
9.3.7..2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.7.4 Market Estimates & Forecast by Application Type, 2020-2027
9.3.7.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.7.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3.8 Spain
9.3.8.1 Market Estimates & Forecast, 2020-2027
9.3.8.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.8.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.8.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.8.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3.9 Italy
9.3.9.1 Market Estimates & Forecast, 2020-2027
9.3.9.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.9.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.9.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.9.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.3.10 Rest of Europe
9.3.10.1 Market Estimates & Forecast, 2020-2027
9.3.10.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.3.10.3 Market Estimates & Forecast by Application Type, 2020-2027
9.3.10.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.3.10.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.4 Asia Pacific
9.4.1 Market Estimates & Forecast, 2020-2027
9.4.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.4.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.4.6 China
9.4.6.1 Market Estimates & Forecast, 2020-2027
9.4.6.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.6.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.6.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.4.6.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.4.7 Japan
9.4.7.1 Market Estimates & Forecast, 2020-2027
9.4.7.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.7.4 Market Estimates & Forecast by Application Type, 2020-2027
9.4.7.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.4.7.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.4.8 Australia
9.4.8.1 Market Estimates & Forecast, 2020-2027
9.4.8.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.8.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.8.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.4.8.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.4.9 Rest of Asia-Pacific
9.4.9.1 Market Estimates & Forecast, 2020-2027
9.4.9.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.4.9.3 Market Estimates & Forecast by Application Type, 2020-2027
9.4.9.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.4.9.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
9.5 Rest of the World
9.5.1 Market Estimates & Forecast, 2020-2027
9.5.2 Market Estimates & Forecast by Technology Type, 2020-2027
9.5.3 Market Estimates & Forecast by Application Type, 2020-2027
9.5.4 Market Estimates & Forecast by Configuration Type, 2020-2027
9.5.5 Market Estimates & Forecast by Voltage Rating Type, 2020-2027
10 Competitive Landscape
11 Company Profile
11.1 Siemens AG (Germany)
11.1.1 Company Overview
11.1.2 Product/Services Offering
11.1.3 Financial Overview
11.1.4 Key Developments
11.1.5 Strategy
11.1.6 SWOT Analysis
11.2 Hitachi (Japan)
11.2.1 Company Overview
11.2.2 Product /Services Offering
11.2.3 Financial Overview
11.2.4 Key Developments
11.2.5 Strategy
11.2.6 SWOT Analysis
11.3 ABB (Switzerland)
11.3.1 Company Overview
11.3.2 Product /Services Offering
11.3.3 Financial Overview
11.3.4 Key Developments
11.3.5 Strategy
11.3.6 SWOT Analysis
11.4 Schneider Electric (France)
11.4.1 Company Overview
11.4.2 Product /Services Offering
11.4.3 Financial Overview
11.4.4 Key Developments
11.4.5 Strategy
11.4.6 SWOT Analysis
11.5 Toshiba (Japan)
11.5.1 Company Overview
11.5.2 Product /Services Offering
11.5.3 Financial Overview
11.5.4 Key Developments
11.5.5 Strategy
11.5.6 SWOT Analysis
11.6 Alstom (France)
11.6.1 Company Overview
11.6.2 Product /Services Offering
11.6.3 Financial Overview
11.6.4 Key Developments
11.6.5 Strategy
11.6.6 SWOT Analysis
11.7 GE (U.S.)
11.7.1 Company Overview
11.7.2 Product /Services Offering
11.7.4 Financial Overview
11.7.4 Key Developments
11.7.5 Strategy
11.7.6 SWOT Analysis
11.8 DATC (U.S.)
11.8.1 Company Overview
11.8.2 Product /Services Offering
11.8.3 Financial Overview
11.8.4 Key Developments
11.8.5 Strategy
11.8.6 SWOT Analysis
11.9 Mitsubishi (Japan)
11.9.1 Company Overview
11.9.2 Product /Services Offering
11.9.3 Financial Overview
11.9.4 Key Developments
11.9.5 Strategy
11.9.6 SWOT Analysis
11.10 NKT Holdings (Denmark)
11.10.1 Company Overview
11.10.2 Product /Services Offering
11.10.3 Financial Overview
11.10.4 Key Developments
11.10.5 Strategy
11.11 Adani (India)
11.11.1 Company Overview
11.11.2 Product /Services Offering
11.11.3 Financial Overview
11.11.4 Key Developments
11.11.5 Strategy
11.11.6 SWOT Analysis
11.11 Nexans (France)
11.11.1 Company Overview
11.11.2 Product /Services Offering
11.11.3 Financial Overview
11.11.4 Key Developments
11.11.5 Strategy
11.11.6 SWOT Analysis
11.13 Prysmian Group (Italy)
11.13.1 Company Overview
11.13.2 Product /Services Offering
11.13.3 Financial Overview
11.13.4 Key Developments
11.13.5 Strategy
11.13.6 SWOT Analysis
11.14 C-EPRI Electric Power Engineering Co. Ltd (China)
11.14.1 Company Overview
11.14.2 Product /Services Offering
11.14.3 Financial Overview
11.14.4 Key Developments
11.14.5 Strategy
11.14.6 SWOT Analysis
12 Conclusion
13 Appendix
List of Tables
Table 1 Global HVDC TRANSMISSION MARKET: By Region, 2020-2027
Table 2 North America HVDC TRANSMISSION MARKET: By Country, 2020-2027
Table 3 Europe HVDC TRANSMISSION MARKET: By Country, 2020-2027
Table 4 Asia-Pacific HVDC TRANSMISSION MARKET: By Country, 2020-2027
Table 5 RoW HVDC TRANSMISSION MARKET: By Country, 2020-2027
Table 6 Global HVDC TRANSMISSION MARKET, by Technology Type, By Regions, 2020-2027
Table 7 North America HVDC TRANSMISSION MARKET, by Technology Type, By Country, 2020-2027
Table 8 Europe HVDC TRANSMISSION MARKET, by Resin type, By Country, 2020-2027
Table 9 Asia-Pacific HVDC TRANSMISSION MARKET by Technology Type, By Country, 2020-2027
Table 10 RoW HVDC TRANSMISSION MARKET by Technology Type, By Country, 2020-2027
Table 11 Global HVDC TRANSMISSION MARKET by Application Market: By Regions, 2020-2027
Table 12 North America HVDC TRANSMISSION MARKET by Application: By Country, 2020-2027
Table 13 Europe HVDC TRANSMISSION MARKET by Application: By Country, 2020-2027
Table 14 Asia Pacific HVDC TRANSMISSION MARKET by Application: By Country, 2020-2027
Table 15 RoW HVDC TRANSMISSION MARKET by Application: By Country, 2020-2027
Table 16 Global HVDC TRANSMISSION MARKET, by Configuration Type, By Regions, 2020-2027
Table 17 North America HVDC TRANSMISSION MARKET, by Configuration Type, By Country, 2020-2027
Table 18 Europe HVDC TRANSMISSION MARKET, by Configuration Type, By Country, 2020-2027
Table 19 Asia Pacific HVDC TRANSMISSION MARKET, by Configuration Type, By Country, 2020-2027
Table 20 RoW HVDC TRANSMISSION MARKET, by Configuration Type, By Country, 2020-2027
Table 21 Global HVDC TRANSMISSION MARKET: By Region, 2020-2027
Table 22 Global HVDC TRANSMISSION MARKET: By Region, 2020-2027
Table 23 Global HVDC TRANSMISSION MARKET: By Region, 2020-2027
Table 24 North America HVDC TRANSMISSION MARKET, By Country
Table 25 North America HVDC TRANSMISSION MARKET, by Technology Type
Table 26 North America HVDC TRANSMISSION MARKET, by Application
Table 27 North America HVDC TRANSMISSION MARKET, By Configuration Type
Table 28 North America HVDC TRANSMISSION MARKET, By Voltage Rating
Table 29 Europe: HVDC TRANSMISSION MARKET, By Country
Table 30 Europe: HVDC TRANSMISSION MARKET, by Technology Type
Table 31 Europe: HVDC TRANSMISSION MARKET, by Application
Table 32 Europe: HVDC TRANSMISSION MARKET, By Configuration Type
Table 33 Europe: HVDC TRANSMISSION MARKET, By Voltage Rating
Table 34 Asia-Pacific: HVDC TRANSMISSION MARKET, By Country
Table 35 Asia-Pacific: HVDC TRANSMISSION MARKET, by Technology Type
Table 36 Asia-Pacific: HVDC TRANSMISSION MARKET, by Application
Table 37 Asia-Pacific: HVDC TRANSMISSION MARKET, By Configuration Type
Table 38 Asia-Pacific: HVDC TRANSMISSION MARKET, By Voltage Rating
Table 39 RoW: HVDC TRANSMISSION MARKET, By Region
Table 40 RoW HVDC TRANSMISSION MARKET, by Technology Type
Table 41 RoW HVDC TRANSMISSION MARKET, by Application
Table 42 RoW HVDC TRANSMISSION MARKET, By Configuration Type
Table 43 RoW HVDC TRANSMISSION MARKET, By Voltage Rating
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL HVDC TRANSMISSION MARKET SHARE, BY TECHNOLOGY TYPE, 2020 (%)
FIGURE 9 GLOBAL HVDC TRANSMISSION MARKET, BY TECHNOLOGY TYPE, 2020-2027 (USD MILLION)
FIGURE 10 GLOBAL HVDC TRANSMISSION MARKET SHARE, BY CONFIGURATION TYPE, 2020 (%)
FIGURE 11 GLOBAL HVDC TRANSMISSION MARKET, BY CONFIGURATION TYPE, 2020-2027 (USD MILLION)
FIGURE 12 GLOBAL HVDC TRANSMISSION MARKET SHARE (%), BY REGION, 2020
FIGURE 13 GLOBAL HVDC TRANSMISSION MARKET, BY REGION, 2020-2027 (USD MILLION)
FIGURE 14 NORTH AMERICA HVDC TRANSMISSION MARKET SHARE (%), 2020
FIGURE 15 NORTH AMERICA HVDC TRANSMISSION MARKET BY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 16 EUROPE HVDC TRANSMISSION MARKET SHARE (%), 2020
FIGURE 17 EUROPE HVDC TRANSMISSION MARKET BY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 18 ASIA-PACIFIC HVDC TRANSMISSION MARKET SHARE (%), 2020
FIGURE 19 ASIA-PACIFIC HVDC TRANSMISSION MARKET BY COUNTRY, 2020-2027 (USD MILLION)
FIGURE 20 REST OF THE WORLD HVDC TRANSMISSION MARKET SHARE (%), 2020
FIGURE 21 REST OF THE WORLD HVDC TRANSMISSION MARKET BY COUNTRY, 2020-2027 (USD MILLION)