Apac Hvdc Transmissions System Market

HVDC Transmission Systems Market: Voltage Source Converter (VSC) to Remain Dominant Revenue Shareholder: Global Industry Analysis and Opportunity Assessment, 2018–2028

  • 2019-02-27
  • REP-GB-3267
  • 39 Tables
  • 161 Figures
  • 236 pages
  • PDF PPT EXCEL
Apac Hvdc Transmissions System Market

An Incisive, In-depth Analysis on the Apac Hvdc Transmissions System Market

This study offers a comprehensive, 360 degree analysis on the Apac Hvdc Transmissions System market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Apac Hvdc Transmissions System market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

The High Voltage Direct Current (HVDC) transmission systems are used for the transmission of power over long distances. These systems use direct current for power transmission. These systems have the ability to interconnect networks that have varying frequencies and features. These systems are termed to be more proficient than AC lines.

HVDC transmission uses two technologies, namely Line Commutated Converter (LCC) and Voltage Source Converter (VSC). The LCC is a very economical technology based on Thyristor power semiconductors. These semiconductors enable the bulk transfer of power with very low losses. This technology also has inherent DC fault protection. The voltage source converter is a new technology in the HVDC transmission system market. It is based on power transistors. This technology is widely used in integrating renewables, in submarine/land cable interconnection, and urban & offshore applications. The VSC technology is included in several schemes such as point-to-point, back-to-back, and others.

The report covers detailed information about the market size (US$ Mn), trends & projections, market dynamics (drivers, restraints, and opportunities), recent developments, and the competition landscape pertaining to the global HVDC transmission system market for the study period 2018–2028.

The global HVDC transmission systems market is expected to reach US$ 17,203.8 Mn by the end of the forecast period, registering a growth rate of 8.7%. Increasing initiatives and government policies pertaining to HVDC transmission, coupled with the growing demand for the Voltage Source Converters (VSC) technology, are among factors that are estimated to provide a robust foundation for the growth of the global HVDC transmission systems market.

‘Solutions’ to Contribute Maximum Revenue to HVDC Transmission Systems Market

The solutions segment is estimated to hold a significant share in the global HVDC transmission systems market in terms of value during the entire forecast period. On the flip side, the services segment is expected to expand at a significant CAGR of 10.3% over the forecast period. The services segment is estimated to register 1.3X the growth registered by the solutions segment during the study period.

The solution segment is expected to hold a significant value share of the HVDC transmission systems market owing to the fact that the operation and maintenance of HVDC transmission systems requires the procurement of several spare parts to be kept as contingencies. Thus, the increasing demand for the components of HVDC transmission systems is expected to boost the solution segment.

Spike in Offshore Wind Projects to Favor HVDC Transmission Systems Market Growth

HVDC transmission systems are highly preferred over high voltage alternating current transmission systems for long-distance transmission, owing to the fact that AC transmission lines are not capable of delivering a substantial amount of energy when they are stretched over long distances. Moreover, long-distance transmission is required to connect offshore wind farms to the grid. Thus, increasing demand for HVDC transmission systems in offshore wind projects is estimated to drive the market over the forecast period.

VSC to Demonstrate Above-average Demand Growth in HVDC Transmission Systems Market

Among all the technologies, the voltage source converters segment is expected to hold a significant value share over the forecast period. The segment is projected to register 1.52X the growth registered by the line commutated converters segment.

In terms of absolute $ opportunity, the voltage source converters segment is expected to be responsible for more than 60.0% of the total absolute $ opportunity created by the global HVDC transmission systems market.

Asia Pacific & Japan Developing High-potential Markets for HVDC Transmission Systems

Increasing government initiatives pertaining to a shift towards renewable energy, coupled with the rising demand for power in the region, are estimated to drive the demand for HVDC transmission systems. In addition, increasing urbanization in the region is also expected to boost the demand for HVDC transmission systems over the forecast period.

Latin America region is estimated to register substantial growth, and is expected to be followed by the Middle East & Africa, Europe, and North America in terms of value. APEJ and Japan are projected to gain traction over the forecast period in the global HVDC transmission systems market owing to an expected increase in the demand from power transmission industries in various regions.

By the end of the forecast period, North America, Western Europe, and Eastern Europe are estimated to lose their market value share at the end of the forecast period. Collectively, the Asia Pacific excl. Japan (APEJ) and Japan regions are projected to register a CAGR of 19.7% by value, which is 2.3X more than the overall growth of the HVDC transmission systems market by value.

HVDC Transmission Systems Market

HVDC Transmission System Market – Competitive Landscape

The global HVDC transmission systems market is highly consolidated with the presence of few regional and global players across the globe. Globally, the top 10 vendors in the HVDC transmission systems market collectively hold a share of between 65% to 75% of the overall market in terms of value.

In the recent past, the HVDC transmission market has witnessed substantial developments from the competition perspective. Product launches, acquisitions & mergers, and expansions are some of the strategies chosen by key players to expand and sustain in the global HVDC transmission systems market.

  • In April 2018, ABB Ltd. announced the launching of ABB Ability at Hanover Fair in Germany. ABB Ability is the first combined solution for digitally enabled power transformers

Some of the key competitors covered in this report include ABB Ltd., Siemens AG, Toshiba Corporation, General Electric, Mitsubishi Electric Corporation, Prysmian SpA, TransGrid Solutions Inc., Abengoa S.A., ATCO Ltd., and LS Industrial Systems Co., Ltd.

Key Questions Answered in the Report

  • How is the HVDC transmission systems market expected to grow in terms of value during the study period?

  • How has the HVDC transmission systems market evolved over the past four years?

  • What are the competition developments and trends in the HVDC transmission systems market?

  • What are the prevailing market dynamics in the HVDC transmission systems market?

  • What are the key challenges, opportunities, and improvements faced by market players in the global HVDC transmission systems market?

  • What are the underlying macro-economic and industry factors impacting the growth of the HVDC transmission systems market?

  • How has the competition evolved in the HVDC transmission systems market over the past few years?

  • What is the market positioning and what are the key strategies adopted by major manufacturers as per the market taxonomy in the global HVDC transmission systems market?

This FMI report offers a ten-year analysis and forecast for the global HVDC transmission systems market for the period between 2018 and 2028. This HVDC transmission systems market study considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the period 2019 to 2028. The Compound Average Growth Rate (CAGR) has been represented from 2018 to 2028.

This HVDC transmission systems study studies different viewpoints of the market, including macro-economic factors, forecast factors and different market dynamics impacting the growth of the market. The report also offers information on value chain analysis, pricing analysis, industry growth analysis, segmental and regional growth comparison as well as competition analysis. The competition analysis provides a dashboard view of market players, market share analysis, in-depth company profiles, etc. As per the analysis and perspectives of industry experts, the global HVDC transmission systems market is projected to expand at a significant CAGR of 8.7% during the forecast period in value terms. Increasing demand for power in emerging economies is expected to positively impact the uptake of HVDC transmission systems in the global market.

FMI’s report on the HVDC Transmission Systems market carefully analyses the market at global and regional levels through market segmentation on the basis of key parameters, such as system components, technology, deployment, power rating and regions.

High Voltage Direct Current (HVDC) transmission systems are used for the transmission of power over long distances. These systems use direct current for power transmission. These systems have the ability to interconnect networks that have varying frequencies and features. These systems are known to be more proficient than AC lines.

HVDC transmission uses two technologies, namely Line Commutated Converter (LCC) and Voltage Source Converter (VSC). The LCC is a very economical technology based on Thyristor power semiconductors. These semiconductors enable the bulk transfer of power with very low losses. This technology also provides inherent DC fault protection. The voltage source converter is a new technology in the HVDC transmission systems market. It is based on power transistors. This technology is widely used in integrating renewables, in submarine/land cable interconnection, and urban & offshore applications. The VSC technology is included in several schemes, such as point-to-point, back-to-back, and others.

This HVDC transmission systems market report is structured to allow the readers to develop an organized understanding of the HVDC transmission systems market. The global HVDC transmission systems market report begins with the executive summary, followed by market definitions and taxonomy. The subsequent section discusses market viewpoints (macroeconomic factors, value chain, market dynamics, forecast factors etc.), regional analysis and competitive analysis. Each section of the global HVDC transmission systems market report covers a quantitative and qualitative assessment of the HVDC transmission systems market on the basis of key opinions, facts collected from industry participants and experts, historical trends and developments in the market.

HVDC Transmission Systems Market: Segmentation

The global HVDC Transmission Systems market has been segmented on the basis of system component, technology, deployment, power rating and regions.
On the basis of system component, the global HVDC Transmission Systems market has been segmented into:

  • Solution

    • AC & DC Harmonic Filters

    • Converters

    • DC Lines

    • Circuit Breakers 

    • Others

  • Services

On the basis of technology, the global HVDC Transmission Systems market has been segmented into:

  • LCC (Line Commutated Converters)

  • VSC (Voltage Source Converters)

  • Others

On the basis of deployment, the global HVDC Transmission Systems market has been segmented into:

  • Overhead

  • Underground

  • Subsea

  • Combination

On the basis of power rating, the global HVDC Transmission Systems market has been segmented into:

  • Below 1000 MW

  • 1000 - 2000 MW

  • 2000 MW & above

On the basis of region, the global HVDC Transmission Systems market has been segmented into:

  • North America

  • Latin America

  • APEJ (Asia Pacific Excluding Japan)

  • Japan

  • Eastern Europe

  • Western Europe

  • MEA (Middle East & Africa)

The global HVDC transmission systems market report starts with an executive summary followed by the market introduction, defining the product definitions and market taxonomy concerning the global HVDC transmission systems market assessment. In the following section, the report describes the market background, which includes macro-economic factors, value chain analysis and forecast factors impacting the growth of the market. The market background section also discusses market dynamics impacting the HVDC transmission systems market growth at a global level.

The succeeding section of the HVDC transmission systems report provides value projections for the HVDC transmission systems market on the basis of the segments stated above at a global level. The global market values indicated in this section have been grouped by collecting data and insights at a regional level. Information provided on the global HVDC transmission systems market, accompanied by key insights and facts, cover distinctive analysis frameworks, such as market attractiveness analysis, absolute $ opportunity analysis, y-o-y growth trend comparison and market share analysis for each of the types included under each segment.

The subsequent section of the report comprises a brief outlook of the global HVDC Transmission systems market on the basis of seven prominent regions considered in the study. The section includes market attractiveness analysis, growth potential, and regional market position for each of these regions.

Global HVDC Transmission Systems Market: Competition Landscape

In the last section of the report, a competitive analysis of the HVDC transmission systems market has been included to provide report audiences with a dashboard view characterised on the basis of the manufacturer strategies, key differentiating factors and their presence in the HVDC transmission systems market. Additionally, this section covers tier structure analysis, market share analysis and market structure analysis of the key players in the global HVDC transmission systems market.

Comprehensive profiles of manufacturers have also been included under the scope of the report to evaluate their recent developments and key offerings in the HVDC transmission systems market. Examples of some of the key competitors covered under the HVDC Transmission Systems report are ABB Ltd., Toshiba Corporation, Siemens AG, General Electric, Mitsubishi Electric Corporation, Prysmian SpA, Abengoa S.A., TransGrid Solutions Inc., ATCO Ltd., and LS Industrial Systems Co., Ltd.

Apac Hvdc Transmissions System Market Reports - Table of Contents

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