HOME Research Insight ABB Ltd. (Switzerland) and Siemens AG (Germany) are the Top 2 Players in the HVDC Transmission Market

ABB Ltd. (Switzerland) and Siemens AG (Germany) are the Top 2 Players in the HVDC Transmission Market

The HVDC transmission market is driven by several factors such as integration of VSC technology across grids to enable system security, liberalization in the energy policies in Europe, and decommissioning of nuclear and coal power plants. The HVDC transmission market was valued at USD 6.79 Billion in 2016 and is expected to reach USD 11.52 Billion by 2023, at a CAGR of 7.31% during the forecast period.

Top 2 players of HVDC market:

ABB Ltd. (Switzerland) held the leading position in this market in 2015. The company pioneered the HVDC technology more than 60 years ago and has been awarded over 110 HVDC projects till date. It primarily focuses on new projects and partnerships to expand its market presence worldwide. Hitachi (Japan) and ABB Ltd. have established a joint venture company named Hitachi ABB HVDC Technologies, Ltd. in Japan. The new venture would provide ABB’s latest technology to HVDC projects. The duo intends to contribute Hitachi’s sales network, project management know-how, and quality assurance processes with leading-edge HVDC technology and system integration capability from ABB. The company also focuses on expanding its global presence by establishing new manufacturing facilities, sales, and service capabilities in high-growth markets. Recently, in 2016, ABB installed HVDC interconnector link, which connects the power grids of Lithuania and Poland. The link enables power trading between the two countries and also strengthens and secures power supply in the European region by opening up new cross-border.

Siemens AG (Germany) was ranked second in this market in 2015. To maintain a leading position in the market, the company focuses majorly on strategic partnerships and collaborations. For instance, in November 2015, Siemens received a contract from the State Grid Corporation of China (SGCC), worth USD 802 million, for 14 ultra-high-voltage direct current (UHVDC) converter transformers for the Nanjing station of the Shanxi Jinbei-Jiangsu Nanjing transmission project. It is the biggest HVDC transformer order Siemens has received ever in the history. The company also focuses on new product developments pertaining to the HVDC transmission market. For instance, in December 2015, Siemens introduced a new technology for converter stations named “full bridge technology”. This technology helps to increase the transmission capacity of a converter to 2,000 MW. The full bridge technology also helps in resolving faults in the DC section without switching off the system and stabilizing the AC grid.

The stakeholders involved in the value chain of this market include HVDC component suppliers, electricity/power generating companies, electricity/power transmission companies, electricity/power distribution companies, power grid suppliers, power project consultants, government procurement organizations, turnkey providers, banks, financial institutions, investors and venture capitalists, and research organizations among others.

Related Reports:

High Voltage Direct Current (HVDC) Transmission Market by Technology (CCC, VSC, LCC & UHVDC), Component (Converter Station & Transmission Cable), Project Type (Point-to-Point, Back-to-Back, Multi-Terminal), Application, and Geography - Global Forecast to 2022

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports