According to a new report, published by KBV research, The Global HVDC Transmission Market size is expected to reach $16.5 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period.
The Point-to-point segment is registering maximum revenue in the Global HVDC Transmission Market by Project Type in 2022; thereby, achieving a market value of $7.0 billion by 2030. Point-to-point HVDC transmission is a type of HVDC transmission system used to connect two specific points in an electrical grid or between two locations. It is characterized by the direct electricity transmission between these two points using HVDC technology. Point-to-point HVDC transmission systems are often used for various purposes in power systems.
The Capacitor Commutated Converter (CCC) segment is anticipated to grow at a CAGR of 6.1% during (2023 - 2030). The capacitor commutated converter (CCC) segment covered a considerable revenue share in the HVDC transmission market in 2022. CCCs are a specific form of LCC designed to improve HVDC systems' performance and control, particularly for long-distance and high-power transmission. CCCs use capacitors to help commutate or switch the direction of current flow in the converter. CCCs use semiconductor devices called thyristors as switching elements.
The Bulk Power Transmission segment is generating the highest revenue in the Global HVDC Transmission Market by Application in 2022; thereby, achieving a market value of $8.5 billion by 2030. Bulk power transmission refers to the large-scale movement of electrical energy from power generation sources to distribution networks, substations, and end-users over long distances. It involves the transmission of electricity at high voltages to minimize energy losses and ensure efficient power delivery across a wide geographical area. Bulk power transmission typically involves high voltages, often in the hundreds of kilovolts (kV) to several hundreds of kilovolts.
The Transmission Cables segment would exhibit a CAGR of 6.1% during (2023 - 2030). Transmission cables are a crucial component of HVDC transmission systems, responsible for carrying DC power over long distances with minimal losses. These cables were invented to handle high voltages and currents while ensuring efficient power transmission. The conductor is the central core of the cable through which the DC flows. In HVDC transmission cables, the conductor materials are carefully chosen to minimize resistance and losses.
The Asia Pacific region is capturing maximum revenue in the Global HVDC Transmission Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.8 billion by 2030. The Europe region is expected to witness a CAGR of 5.3% during (2023 - 2030). Additionally, The North America region is expected to witness a CAGR of 5.1% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/hvdc-transmission-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hitachi, Ltd., Mitsubishi Electric Corporation, Siemens Energy AG, General Electric Company, Prysmian Group, Toshiba Corporation, NKT Photonics A/S (NKT A/S), Nexans S.A., LS ELECTRIC CO., Ltd, and NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
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