HVDC Transmission Market to Reach USD 11.52 Billion By 2023: Analysis By Component, Technology, Project Type, Power Rating & Application

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. Many countries are focusing on innovations and expansions in the existing projects. This factor would increase the demand for HVDC transmission systems in the coming years.

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. Many countries are focusing on innovations and expansions in the existing projects. This factor would increase the demand for HVDC transmission systems in the coming years.

The HVDC transmission market has been segmented on the basis of technology into capacitor commutated converter (CCC), voltage sourced converter (VSC), line commutate converter (LCC), and ultra-high voltage direct current (UHVDC). The market for VSC technology is expected to grow at a higher CAGR during the forecast period. VSC, along with the offshore platform size, is a smaller and less expensive solution for HVDC transmission systems. Moreover, VSC requires lesser filters than LCC, thereby reducing the size of the system. Due to these advantages, the market for VSC technology is expected to grow faster than that of the LCC technology.

The HVDC transmission market has been segmented on the basis of project type, which includes point-to-point transmission, back-to-back stations, and multi-terminal systems. The European countries' increasing focus on power generation from wind energy would further increase the market share for the multi-terminal system.

Companies Mentioned

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Hvdc Transmission Market, By Component

8 Hvdc Transmission Market, By Technology

9 Hvdc Transmission Market, By Project Type

10 Hvdc Transmission Market, By Power Rating

11 Hvdc Transmission Market, By Application

12 Geographic Analysis

13 Competitive Landscape

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