NEW YORK , Feb. 18, 2022 /PRNewswire/ -- The HVDC Transmission Systems Market Report in UK is segmented by Type (subsea transmission, underground transmission, and overhead transmission) and Component (converter stations and transmission medium). The optimal solution for long-distance transmission is notably driving the market growth in UK, although factors such as limited power ratings for IGBTs and issues with circuit breakers may impede the market growth.
Moreover, the market value is set to grow by USD 328.38 million , progressing at a CAGR of 7.78% from 2021 to 2026- as per the latest report by Technavio.
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The high voltage direct current (HVDC) transmission systems market share growth in UK by the subsea transmission segment will be significant during the forecast period. The significant increase in the demand for renewable energy in the country will drive the demand for subsea transmission in the UK, which is enhancing the demand for subsea transmission systems.
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Key Market Drivers & Challenges:
Optimal solution for long-distance transmission power to boost the market growth
The increasing demand for power for commercial, industrial, and household activities has increased the need to develop a diverse energy generation portfolio. HVDC technology helps in transmitting a large voltage of power over long distances. The power loss during transmission is less than high voltage alternate current (HVAC) technology. Furthermore, HVDC systems can adapt any frequency and voltage as they are asynchronous. In addition, the HVDC systems also do not create any short-circuit current level and can be efficiently used in interconnecting the AC transmission systems. Such factors are fueling the growth of the market in focus during the forecast period.
Limited power ratings for IGBTs and issues with circuit breakers to hamper the market growth
In HVDC technology, semiconductors are an essential element in switching operations, as these operations are done using semiconductors or hybrid semiconductors. However, the main problem is switching operations in the HVDC circuit breaker. The circuit breakers need to have high switching capabilities, or the circuit breaker gets damaged, leading to electricity supply breakdown. The issues with the components are still being addressed, and improvements are being made to reduce the number of components required for HVDC substation deployment and operational issues. Thus, such factors are expected to limit the market growth during the forecast period.
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The HVDC Transmission Systems Market in UK Covers the Following Areas:
HVDC Transmission Systems Market Sizing in UK
HVDC Transmission Systems Market Forecast in UK
HVDC Transmission Systems Market Analysis in UK
The high voltage direct current (HVDC) transmission systems market in UK is concentrated and the vendors are deploying growth strategies such as investment for product development to compete in the market.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Substation Wide Area Monitoring System Market by Solution and Geography - Forecast and Analysis 2021-2025: The substation wide area monitoring system market has the potential to grow by USD 338.88 million during 2021-2025, and the market's growth momentum will decelerate at a CAGR of 22.04%. To get more exclusive research insights: Download FREE Sample Report
Industrial Planetary Gearbox Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025: The industrial planetary gearbox market has the potential to grow by USD 865.99 million during 2021-2025, and the market's growth momentum will decelerate at a CAGR of 4.86%. To get more exclusive research insights: Download FREE Sample Report
HVDC Transmission Systems Market in UK Scope
Accelerate at a CAGR of 7.78%
Leading companies, competitive strategies, consumer engagement scope
General Electric Co., Hitachi Ltd., Mitsubishi Electric Corp., National Grid Plc, NR Electric Co. Ltd., Prysmian Spa, Rongxin Power Ltd., Siemens AG, Sumitomo Electric Industries Ltd., and Toshiba Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Market outlook: Forecast for 2021 - 2026
Subsea transmission - Market size and forecast 2021-2026
Underground transmission - Market size and forecast 2021-2026
Overhead transmission - Market size and forecast 2021-2026
Converter Stations - Market size and forecast 2021-2026
Transmission Medium - Market size and forecast 2021-2026
Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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