Research and Markets has added the “HVDC Transmission Market by Technology, Configuration, Power Rating, Application, Component & Geography – Forecast Analysis to 2014 – 2020” report to its offering.
The report showcases a detailed breakdown of the HVDC transmission market by the technology, configuration, component, applications, power rating and geographies.
In the report, different technologies are discussed, such as line-commutated converters and voltage source converters. The configuration includes back to back, monopolar, bipolar and multi-terminal.
The power rating market is categorized into below 500 MW, 501 MW – 1000 MW, 1001 MW – 1500, 1501 MW-2000 MW, above 2000 MW.
Some of the major companies dominating the global HVDC market are ABB (Switzerland) Siemens (Germany), Alstom (France), and Toshiba (Japan). ABB (Switzerland) and Siemens (Germany) are the key players of power generation and transmission market and it is found that these companies covers more than 80% of the overall market share in the HVDC transmission market.
The HVDC transmission market is expected to grow at a CAGR of 17.13% in the next five years (2014-2020). This report describes the market dynamics of market, which comprises of drivers, restraints, opportunities, challenges, and burning issues.
The major driving factors for market are the increasing demand for reduction of transmission losses in power systems, growth in offshore wind transmission infrastructure, and rising government mandates in HVDC power transmission systems.
Image: ABB (Illustration)