The HVDC transmission market is projected to develop at a 6.5% CAGR between 2018- 2023, as per the latest analysis of Market Research Future (MRFR). HVDC power transmission systems, simply put, are systems that use direct current to transmit electricity. Owing to the DC or direct current, these systems connect power grids asynchronously in that definite area that eliminates different outage-causing issues.
It has different configurations such as multi-terminal links, back-to-back, bi-polar, and mono-polar, different voltage ratings such as more than 800kV, 640-800 kV, 350-640kV, and less than 350 kV, and works on different technologies such as voltage sourced converter (VSC) and low commuted converter (LCC). HVDC transmission has wide applications in offshore cables, asynchronous grids, and underground cables.
Various factors are fuelling the demand for the HVDC transmission market. Such factors, as revealed by the new MRFR analysis, include optimal solutions for long-distance transmission, demand for VSC technology, supportive government initiatives and policies for HVDC transmission, shift towards renewable energy, growing electricity consumption, rising need for cable-based transmission, increasing use of electric-powered devices and its different benefits such as cost-effective and reduces power loss.
On the contrary, complexities with multi-terminal systems, power faults, and the COVID-19 pandemic are factors that may impede the global HVDC transmission market growth over the forecast period.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/6027
The HVDC transmission market is bifurcated on the basis of voltage rating, configuration, application, and technology.
Based on the region, the global HVDC transmission market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. Increasing consumption of power, growing population rate in India and China, strong demand for uninterrupted power, rising power infrastructure development, and heavy investments in renewable resources of energy and employment of latest and advanced UHVDC technologies for power transmission are adding to the global HVDC transmission market growth in the region.
The global HVDC transmission market in Europe is predicted to hold the second-largest share over the forecast period. Favor of renewables in France, Belgium, Spain, and Germany, move towards a low-carbon economy, and the presence of several policies such as national renewable energy action plans and EU’s renewable energy directive are adding to the global HVDC transmission market growth in the region.
The global HVDC transmission market in North America is predicted to have healthy growth over the forecast period, and in the Rest of the World is predicted to have sound growth over the forecast period for the booming renewable energy sector and growing energy demand.
Request for Report Discount: https://www.marketresearchfuture.com/sample_request/6027
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
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
For More Details On this Report: https://www.marketresearchfuture.com/reports/hvdc-transmission-market-6027
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
+1 646 845 9312