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/EIN News/ -- Jersey City, New Jersey, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “HVDC Transmission Market” By Technology (Capacitor Commutated Converter (CCC) Based, Voltage Source Converter (VSC) Based, and Line Commutated Converter (LCC) Based), By Application (Bulk Power Transmission, Interconnecting Grids, and Infeed Urban Areas), and By Geography. According to Verified Market Research, the HVDC Transmission Market size was valued at USD 7.93 Billion in 2019 and is projected to reach USD 13.34 Billion by 2027, growing at a CAGR of 7.25% from 2020 to 2027.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=3880
Browse in-depth TOC on “HVDC Transmission Market”
Global HVDC Transmission Market Overview
The interconnection of HVDC and therefore the AC grid has toughened the reliability and capacity of power grids. Growing electricity consumption is one of the first factors driving the worldwide HVDC Transmission Market. The population is increasing rapidly, thereby increasing electricity consumption. More and more electrically powered devices are currently getting used to scale back fossil fuels and carbon emissions are being substituted by new technologies which also cause higher electricity consumption. The growing need for cable-based transmission rather than transmission through overhead lines is that the other factor liable for the expansion of the worldwide HVDC Transmission Market. Overhead transmission lines aren’t insulated and hence the danger of human safety is high. Cable based transmission lines require insulation so that the live cables don’t touch the world and obtain shorted, and hence the adoption of cable-based transmission lines is increasing, thereby boosting the expansion of the HVDC Transmission Market.
Electricity transmission through such lines leads to much lower transmission losses owing to high voltage during transmission and therefore the nature of direct current, and hence the adoption of high voltage direct current (HVDC) transmission is increasing significantly. The need for lesser space for the towers carrying HVDC transmission lines is additionally one of the key factors driving the worldwide HVDC Transmission Market. Power faults during short circuits within the AC power grid may hamper the expansion of the worldwide HVDC Transmission Market.
The major players in the market are TOSHIBA CORPORATION, Mitsubishi Electric Corporation, NEXANS, NKT A/S, Hitachi Ltd., Sumitomo Electric Industries Ltd., Schneider Electric, Prysmian Group, American Superconductor, LSIS Co. Ltd., C-EPRI Electric Power Engineering Co. Ltd., TransGrid Solutions, ATCO LTD., Doble Engineering Company, HVDC Technologies Ltd., Eltek, Origin Co. Ltd., Abengoa, TDK Electronics AG and AECOM among others.
Verified Market Research has segmented the Global HVDC Transmission Market On the basis of Technology, Application, and Geography.
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