HVDC Transmission Market

HVDC Transmission Market by Component (Converter Stations, Transmission Cables, and Others), Project Type (Point-to-Point, Back-to-Back, and Multi-Terminal), Technology (CCC, VSC, and lCC), Application, and Geography - Global Forecast to 2024

Report Code: SE 3052 Jan, 2019, by marketsandmarkets.com

[147 Pages Report] The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018–2024. Major drivers for the market’s growth are optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission. 

HVDC Transmission Market

Infeed Urban Areas application expected to witness highest CAGR in market during forecast period

HVDC systems are ideal for feeding electricity into densely populated urban centers, where the density of required overhead wires could cause significant obstructions. Despite being more expensive, underground power lines utilization is increasing in urban areas. Nowadays, residential and commercial developments have underground utility infrastructure, often ordered by law for aesthetic reasons.

Market for VSC-based technology to grow at highest CAGR during 2018–2024

VSC technology converts AC voltage to DC voltage by using insulated gate bipolar transistors (IGBTs) and pulse width modulation (PWM), or through switching in and out of smaller DC capacitors. There are 2 types of voltage converters: voltage inverters and voltage rectifiers. The main function of a VSC-HVDC system is to transmit constant DC power from a rectifier to an inverter. The “switching off” capability means that VSC converters do not require a synchronous voltage for commutation. Thus, VSC converters are considered a controllable voltage source system for HVDC transmission.

HVDC Transmission Market

APAC expected to account for largest market share during forecast period

The HVDC transmission market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For instance, 2 of the world’s most powerful and longest HVDC power transmission highways, each with a nominal rating of 3,000 MW, are currently being installed in China. These factors are projected to fuel the HVDC transmission market in APAC in the coming years.

Key players in the HVDC transmission market include ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy). ABB is a key player in the global HVDC transmission market. The company pioneered the HVDC technology more than 60 years ago and has bagged over 110 HVDC projects, representing over 120,000 MW of total installed capacity and accounting for around half of the globally installed HVDC base.

Recent Developments

  • ABB launched the ABB Ability at the 2018 Hanover Fair, in Germany. ABB Ability is claimed to be the world’s first integrated solution for digitally enabled power transformers.
  • Siemens developed, manufactured, and tested a ± 1,100 kilovolts (kV), 587.1 megavolt amperes (MVA) HVDC transformer in Nuremberg, Germany.
  • NR Electric launched a ±535kV/3000MW VSC-HVDC converter valve. The type test is fully compliant with IEC 62501 (2014 Edition). The converter valve withstood a 37.3kA short-circuit current and completed wet DC withstand voltage test at 1 tower. 

Critical questions the report answers:

  • Where will all these developments take the industry in mid to long term?
  • What are the upcoming applications of HVDC transmission?
  • How does the shifting focus toward renewable sector influence the HVDC transmission market?
  • What advanced technologies are expected to penetrate significantly into the HVDC transmission market?
  • What are the dynamics of the HVDC transmission market?
  • What are the regulations that are expected to have an impact on the HVDC transmission market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis(Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis(Supply Side)
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Lucrative Opportunities in HVDC Transmission Market
    4.2 HVDC Transmission Market, By Technology
    4.3 HVDC Transmission Market in APAC, By Project Type and Country
    4.4 HVDC Transmission Market, By Country/Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Optimal Solution for Long Distance Transmission
                    5.2.1.2 Growing Demand for VSC Technology
                    5.2.1.3 Shift Toward Renewable Energy Sources
                    5.2.1.4 Supportive Government Policies and Initiatives for HVDC Transmission
                    5.2.1.5 Challenges With Nuclear and Fossil Fuel-Fed Power Plants
           5.2.2 Restraints
                    5.2.2.1 High Cost of Installing HVDC Transmission Systems
                    5.2.2.2 High Cost of Circuit Breakers
           5.2.3 Opportunities
                    5.2.3.1 High-Tech Power Grids Expected to Foster Power-Sharing Among Neighboring Countries
                    5.2.3.2 Growing Need for Integrated Networks
                    5.2.3.3 Rapid Adoption of UHVDC Technology in China
           5.2.4 Challenges
                    5.2.4.1 Increasing Interoperability Among Neighboring Networks

6 Industry Trends (Page No. - 43)
    6.1 Value Chain Analysis
    6.2 Regulatory Standards

7 HVDC Transmission Market, By Component (Page No. - 46)
    7.1 Introduction
    7.2 Converter Stations
           7.2.1 Valves
                    7.2.1.1 Valve Regulates, Directs, and Controls the Flow of Power Transmission
           7.2.2 Thyristor Valves
                    7.2.2.1 Insulated Gate Bipolar Transistors (IGBTS)
                               7.2.2.1.1 VSC Valves Used in DC Transmission Systems Use IGBTS
           7.2.3 Transformers
                    7.2.3.1 Transformers are Among the Costliest Components of Converter Stations
           7.2.4 Harmonic Filters
                    7.2.4.1 AC Filters
                               7.2.4.1.1 AC Filters Mitigate Voltage Distortion and Reduce Interference in AC Networks
                    7.2.4.2 DC Filters
                               7.2.4.2.1 DC Filters Stabilize Harmonics Generated on the DC End of A Converter Station
           7.2.5 Circuit Breakers
                    7.2.5.1 Circuit Breakers Protect Electrical Power System
           7.2.6 Reactors
                    7.2.6.1 Reactors Reduce Harmonic Currents in DC Systems
           7.2.7 Surge Arresters
                    7.2.7.1 Surge Arresters Help to Limit the Magnitude of Transient Over-Voltages in HVDC Systems
    7.3 Transmission Cables
           7.3.1 Transmission Cables Transmit Electricity Across Countries, Islands, Wind Farms, and Oil Platforms
    7.4 Others
           7.4.1 Others Include Electrodes, Control & Protection, and Reactive Power Supplies

8 HVDC Transmission Market, By Project Type (Page No. - 55)
    8.1 Introduction
    8.2 Point-To-Point Transmission
           8.2.1 Monopolar
                    8.2.1.1 A Monopolar Transmission System is A Configuration With A Single High-Voltage DC Polarity
           8.2.2 Bipolar
                    8.2.2.1 Bipolar Systems Reduces Maintenance Cost as There is Only 1 Common Path That Lowers Power Losses During Transmission
    8.3 Back-To-Back Stations
           8.3.1 Back-To-Back Stations are Mainly Used for Converters Within the Same Converter Building
    8.4 Multi-Terminal Systems
           8.4.1 Multi Terminal Project Types to Exhibit Highest Growth During the Forecast Period

9 HVDC Transmission Market, By Technology (Page No. - 70)
    9.1 Introduction
    9.2 Capacitor Commutated Converter (CCC)
           9.2.1 CCC is Designed By Adding AC Capacitors in Series Between the Transformer and the Valve
    9.3 Voltage Source Converter (VSC)
           9.3.1 HVDC
                    9.3.1.1 VSC-HVDC Systems are Widely Used in Wind Power Applications, Bulk Power Transmissions, Submarine and Underground Transmissions
           9.3.2 Ultra-High Voltage Direct Current (UHVDC)
                    9.3.2.1 VSC-UHVDC to Exhibit Higher Growth During the Forecast Period
    9.4 Line Commutated Converter (LCC), (Thyristor Based)
           9.4.1 HVDC
                    9.4.1.1 Presently LCC-HVDC Held Higher Share Than LCC-UHVDC
           9.4.2 UHVDC
                    9.4.2.1 LCC-UHVDC Technology Enhances Power Transfer Capacity to 10,000 MW and Extends the Distance Capability to Over 3,000 Km

10 HVDC Transmission Market, By Application (Page No. - 78)
     10.1 Introduction
     10.2 Bulk Power Transmission
             10.2.1 Overhead
                        10.2.1.1 Prominently Found in the Us, Canada, Brazil, China, and India
             10.2.2 Submarine & Underground
                        10.2.2.1 Submarine Transmission Cables are Used for Long-Distance Bulk Power Transmission Across Regions Or Countries
     10.3 Interconnecting Grids
             10.3.1 HVDC Transmission Systems Can Be Used to Interconnect Asynchronously-Operated Power Systems
     10.4 Infeed Urban Areas
             10.4.1 Infeed Urban Areas to Exhibit Highest Growth in Coming Years

11 Geographic Analysis (Page No. - 86)
     11.1 Introduction
     11.2 Americas
             11.2.1 North America
                        11.2.1.1 US
                                     11.2.1.1.1 Growing Demand for HVDC Transmission Projects
                        11.2.1.2 Canada
                                     11.2.1.2.1 Implementation of HVDC Interconnections in the Canadian National Electrical Grid
                        11.2.1.3 Mexico
                                     11.2.1.3.1 Development of Power Grids to Meet Growing Electricity Demand
             11.2.2 South America
                        11.2.2.1 Brazil
                                     11.2.2.1.1 Huge Potential for HVDC Transmission Projects
                        11.2.2.2 Rest of South America
     11.3 Europe
             11.3.1 UK
                        11.3.1.1 Reduction in Greenhouse Gas Emission to Improve the Transmission and Distribution Network
             11.3.2 Germany
                        11.3.2.1 Accelerated Shift From Nuclear Power and Fossil Fuels to Renewables
             11.3.3 Russia
                        11.3.3.1 Potential Growth for HVDC Projects in the Country
             11.3.4 France
                        11.3.4.1 Increasing Adoption of HVDC Technology for Long-Distance Power Transmissions
             11.3.5 Rest of Europe
     11.4 APAC
             11.4.1 China
                        11.4.1.1 Policy Structure Attracting More Investments for HVDC Projects
             11.4.2 Japan
                        11.4.2.1 Investments By Leading Players Driving the Market’s Growth
             11.4.3 India
                        11.4.3.1 Government Initiatives to Facilitate Economic Benefits and Energy Security
             11.4.4 Australia
                        11.4.4.1 Government Policies for Development and Commercialization of Solar Energy Resources
             11.4.5 Rest of APAC
     11.5 Rest of the World (RoW)
             11.5.1 Middle East
                        11.5.1.1 Emerging Market for HVDC Technology
             11.5.2 Africa
                        11.5.2.1 Upcoming HVDC Projects Contributing to the Overall Growth of the Continent

12 Competitive Landscape (Page No. - 104)
     12.1 Overview
     12.2 Market Ranking of Players, 2017
     12.3 Competitive Scenario
             12.3.1 Product Launches/Product Developments/Technological Expansions
             12.3.2 Partnerships, Collaborations, Joint Ventures, and Contracts
             12.3.3 Geographic Expansion

13 Company Profile (Page No. - 109)
(Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.1 Key Players
             13.1.1 ABB
             13.1.2 Siemens
             13.1.3 General Electric
             13.1.4 Hitachi
             13.1.5 Mitsubishi Electric
             13.1.6 Nexans
             13.1.7 NKT A/S
             13.1.8 NR Electric
             13.1.9 C-Epri Electric Power Engineering
             13.1.10 Prysmian Group
     13.2 Other Important Players
             13.2.1 Schneider Electric
             13.2.2 Toshiba
             13.2.3 Epcos
             13.2.4 Aecom
             13.2.5 PSC Group
     13.3 Key Innovators
             13.3.1 American Superconductor
             13.3.2 Transgrid Solutions
             13.3.3 Atco
             13.3.4 Doble Engineering Company
             13.3.5 HVDC Technologies

*Details on Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 141)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (62 Tables)

Table 1 HVDC Transmission Market: Regulatory Standards
Table 2 HVDC Transmission Market, By Component, 2015–2024 (USD Billion)
Table 3 HVDC Transmission Market for Valves, By Type, 2015–2024 (USD Billion)
Table 4 HVDC Transmission Market, By Converter Station, 2015–2024 (USD Billion)
Table 5 HVDC Transmission Market, By Project Type, 2015–2024 (USD Billion)
Table 6 HVDC Transmission Market for Point-To-Point Transmission, By Technology, 2015–2024 (USD Billion)
Table 7 HVDC Transmission Market for Point-To-Point Transmissions, By Application, 2015–2024 (USD Billion)
Table 8 HVDC Transmission Market for Point-To-Point Transmissions, By Bulk Power Transmission Application, 2015–2024 (USD Billion)
Table 9 HVDC Transmission Market for Point-To-Point Transmissions, By Region, 2015–2024 (USD Billion)
Table 10 HVDC Transmission Market for Point-To-Point Transmissions, By Project Type, 2015–2024 (USD Billion)
Table 11 HVDC Transmission Market for Point-To-Point Monopolar Transmissions, By Technology, 2015–2024 (USD Billion)
Table 12 HVDC Transmission Market for Point-To-Point Bipolar Transmissions, By Technology, 2015–2024 (USD Billion)
Table 13 HVDC Transmission Market for Point-To-Point Monopolar Transmissions, By Application, 2015–2024 (USD Billion)
Table 14 HVDC Transmission Market for Point-To-Point Monopolar Transmissions, By Bulk Power Transmission Application, 2015–2024 (USD Billion)
Table 15 HVDC Transmission Market for Point-To-Point Bipolar Transmissions, By Application, 2015–2024 (USD Billion)
Table 16 HVDC Transmission Market for Point-To-Point Bipolar Transmission, By Bulk Power Transmission Application, 2015–2024 (USD Billion)
Table 17 HVDC Transmission Market for Point-To-Point Monopolar Transmissions, By Region, 2015–2024 (USD Billion)
Table 18 HVDC Transmission Market for Point-To-Point Bipolar Transmissions, By Region, 2015–2024 (USD Billion)
Table 19 HVDC Transmission Market for Back-To-Back Transmissions, By Technology, 2015–2024 (USD Billion)
Table 20 HVDC Transmission Market for Back-To-Back Transmissions, By Application, 2015–2024 (USD Billion)
Table 21 HVDC Transmission Market for Back-To-Back Transmissions, By Bulk Power Transmission Application, 2015–2024 (USD Billion)
Table 22 HVDC Transmission Market for Back-To-Back Transmissions, By Region, 2015–2024 (USD Billion)
Table 23 HVDC Transmission Market for Multi-Terminal Transmissions, By Technology, 2015–2024 (USD Billion)
Table 24 HVDC Transmission Market for Multi-Terminal Transmissions, By Application, 2015–2024 (USD Billion)
Table 25 HVDC Transmission Market for Multi-Terminal Transmissions, By Bulk Power Transmission Application, 2015–2024 (USD Billion)
Table 26 HVDC Transmission Market for Multi-Terminal Transmissions, By Region, 2015–2024 (USD Billion)
Table 27 HVDC Transmission Market, By Technology, 2015–2024 (USD Billion)
Table 28 HVDC Transmission Market for CCC-Based Technology, By Project Type, 2015–2024 (USD Billion)
Table 29 HVDC Transmission Market for VSC, By Technology, 2015–2024 (USD Billion)
Table 30 HVDC Transmission Market for VSC-Based Technology, By Project Type, 2015–2024 (USD Billion)
Table 31 HVDC Transmission Market for VSC-Based Technology, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 32 HVDC Transmission Market for LCC, By Technology, 2015–2024 (USD Billion)
Table 33 HVDC Transmission Market for LCC-Based Technology, By Project Type, 2015–2024 (USD Billion)
Table 34 HVDC Transmission Market for LCC-Based Technology, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 35 HVDC Transmission Market, By Application, 2015–2024 (USD Billion)
Table 36 HVDC Transmission Market for Bulk Power Transmission, By Project Type, 2015–2024 (USD Billion)
Table 37 HVDC Transmission Market for Bulk Power Transmission, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 38 HVDC Transmission Market, By Bulk Power Transmission Applications, 2015–2024 (USD Billion)
Table 39 HVDC Transmission Market for Overhead Bulk Power Transmissions, By Project Type, 2015–2024 (USD Billion)
Table 40 HVDC Transmission Market for Submarine & Underground Bulk Power Transmissions, By Project Type, 2015–2024 (USD Billion)
Table 41 HVDC Transmission Market for Interconnecting Grids, By Project Type, 2015–2024 (USD Billion)
Table 42 HVDC Transmission Market for Interconnecting Grids, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 43 HVDC Transmission Market for Infeed Urban Areas, By Project Type, 2015–2024 (USD Billion)
Table 44 HVDC Transmission Market for Infeed Urban Areas, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 45 HVDC Transmission Market, By Region, 2015–2024 (USD Billion)
Table 46 HVDC Transmission Market in Americas, By Region, 2015–2024 (USD Billion)
Table 47 HVDC Transmission Market in North America, By Country, 2015–2024 (USD Billion)
Table 48 HVDC Transmission Market in South America, By Country, 2015–2024 (USD Billion)
Table 49 HVDC Transmission Market in Americas, By Project Type, 2015–2024 (USD Billion)
Table 50 HVDC Transmission Market in Americas, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 51 HVDC Transmission Market in Europe, By Country, 2015–2024 (USD Billion)
Table 52 HVDC Transmission Market in Europe, By Project Type, 2015–2024 (USD Billion)
Table 53 HVDC Transmission Market in Europe, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 54 HVDC Transmission Market in APAC, By Country, 2015–2024 (USD Billion)
Table 55 HVDC Transmission Market in APAC, By Project Type, 2015–2024 (USD Billion)
Table 56 HVDC Transmission Market in APAC, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 57 HVDC Transmission Market in RoW, By Region, 2015–2024 (USD Billion)
Table 58 HVDC Transmission Market in RoW, By Project Type, 2015–2024 (USD Billion)
Table 59 HVDC Transmission Market in RoW, By Point-To-Point Project Type, 2015–2024 (USD Billion)
Table 60 Product Launches/Product Developments/Technological Expansions, 2015–2018
Table 61 Partnerships, Collaborations, Joint Ventures, and Contracts, 2015–2018
Table 62 Geographic Expansion, 2016–2017


List of Figures (48 Figures)

Figure 1 HVDC Transmission Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 HVDC Transmission Market, 2015–2024 (USD Billion)
Figure 6 Converter Stations to Lead HVDC Transmission Market During Forecast Period
Figure 7 VSC-Based Technology to Grow at Highest CAGR in HVDC Transmission Market During Forecast Period
Figure 8 Point-To-Point Project Type to Lead HVDC Transmission Market During Forecast Period
Figure 9 Bulk Power Transmission Application to Hold Largest Share in HVDC Transmission Market During Forecast Period
Figure 10 APAC Held Largest Share of HVDC Transmission Market in 2017
Figure 11 HVDC Transmission Market in APAC to Grow at Highest CAGR During Forecast Period
Figure 12 LCC-Based Technology to Lead HVDC Transmission Market During Forecast Period
Figure 13 Market for Point-To-Point Project Type to Surpass Market for Back-To-Back By 2018
Figure 14 China Held Largest Share of HVDC Transmission Market in 2017
Figure 15 Rapid Adoption Rate for UHVDC Technology in China Expected to Spur Growth of HVDC Transmission Market
Figure 16 Cost Comparison Between HVDC and HVAC Grids
Figure 17 VSC-Based HVDC Projects By ABB Ltd. and Siemens Ag, 2015–2017
Figure 18 Major Value is Added During Project Installation & Commissioning Phase
Figure 19 HVDC Transmission Market, By Component
Figure 20 Converter Stations to Dominate HVDC Transmission Market Throughout Forecast Period
Figure 21 HVDC Market, By Converter Station
Figure 22 Types of Valves
Figure 23 Types of Harmonic Filters
Figure 24 HVDC Transmission Market: By Project Type
Figure 25 Point-To-Point Project Type to Hold Largest Share of HVDC Transmission Market During Forecast Period
Figure 26 Point-To-Point Transmission: Sub-Segment
Figure 27 VSC-Based Technology to Hold Largest Share of HVDC Transmission Market for Back-To-Back Project Type During Forecast Period
Figure 28 HVDC Transmission Market: By Technology
Figure 29 VSC-Based Transmissions to Grow at Highest CAGR During Forecast Period
Figure 30 Point-To-Point Project Type to Hold Largest Share in VSC-Based Technology in HVDC Transmission Market During Forecast Period
Figure 31 HVDC Transmission Market: By Application
Figure 32 Bulk Power Transmission Applications to Hold Largest Share of HVDC Transmission Market During Forecast Period
Figure 33 Point-To-Point Projects for Infeed Urban Areas to Hold Largest Share of HVDC Transmission Market During Forecast Period
Figure 34 HVDC Transmission Market: By Geography
Figure 35 Geographic Snapshot: HVDC Transmission Market
Figure 36 Americas: HVDC Transmission Market Snapshot
Figure 37 Europe: HVDC Transmission Market Snapshot
Figure 38 APAC: HVDC Transmission Market Snapshot
Figure 39 Growth Strategies Adopted By Companies Over Past 4 Years (2015–2018)
Figure 40 Market Ranking for HVDC Transmission Market, 2017
Figure 41 ABB: Company Snapshot
Figure 42 Siemens: Company Snapshot
Figure 43 General Electric: Company Snapshot
Figure 44 Hitachi: Company Snapshot
Figure 45 Mitsubishi Electric: Company Snapshot
Figure 46 Nexans: Company Snapshot
Figure 47 NKT A/S: Company Snapshot
Figure 48 Prysmian Group: Company Snapshot

The study involved 4 major activities for estimating the current size of the HVDC transmission market. Exhaustive secondary research was conducted to collect information on the market, including peer market and parent market. The findings, assumptions, and sizing were validated through discussions with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were performed to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. These secondary sources include National Electrical Manufacturers Association (NEMA), CIGRÉ (International Council on Large Electric Systems), Global Smart Grid Federation, American Wind Energy Association (AWEA), annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles from recognized authors, directories, and databases.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. The primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the HVDC transmission market. After complete market engineering (including calculations regarding market statistics, breakdown, estimations, and forecasting as well as data triangulation), extensive primary research has been conducted to gather information as well as verify and validate the critical numbers arrived at.

HVDC Transmission Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the HVDC transmission market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends identified from both demand and supply sides. Along with this, the market size has been validated using both top-down and bottom-up approaches.

The following are the major objectives of the study.

  • To define, describe, and forecast the high voltage direct current (HVDC) transmission market based on component, technology, project type, application, and geography
  • To forecast the sizes of market segments with respect to 4 regions—Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall HVDC transmission market
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To provide detailed analysis of the HVDC transmission market’s value chain
  • To analyze market opportunities for stakeholders and detail the competitive landscape of market leaders
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies2
  • To analyze major growth strategies such as contracts, joint ventures, mergers and acquisitions, product launches and developments, and R&D implemented by HVDC transmission market players

Scope of the Report

Report Metric

Details

Market size available for years

2015–2024

Base year considered

2017

Forecast period

2018-2024

Forecast units

Value—USD million/billion

Segments covered

Component, Technology, Project Type, Application, and Region

Geographies covered

Americas, APAC, Europe, and RoW

Companies covered

ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy).

This research report categorizes the HVDC transmission market based on component, technology, project type, application, and region.

By Component:

  • Converter Stations
  • Transmission Cables
  • Others

By Technology:

  • Capacitor Commutated Converter (CCC) based
  • Voltage Source Converter (VSC) based
  • Line Commutated Converter (LCC) based

By Project Type:

  • Point-to-Point
  • Back-to-Back
  • Multi-terminal

By Application:

  • Bulk Power Transmission
  • Interconnecting Grids
  • Infeed Urban Areas

By Geography:

  • Americas
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client’s specific requirements. The available customization options are as follows:

Company Information

  • Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
Report Code
SE 3052
Published ON
Jan, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the HVDC Transmission Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home