High Voltage Direct Current (HVDC) Transmission Market : Trends and Opportuntites.

High voltage direct current (HVDC) power systems use direct current (DC) to transmit bulk power over long distances. HVDC lines improve transmission line efficiency, allowing power to be transferred more quickly. At the sending end of a combined AC and DC system, the generated AC voltage is converted to DC.

 In AC transmission, alternating waves of voltage and current travel in the line, changing direction every millisecond, resulting in heat losses. In contrast to AC lines, the voltage and current waves in DC do not change direction. HVDC lines improve transmission line efficiency, allowing power to be transferred more quickly.

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Above the break-even distance, HVDC has a lower transmission cost than HVAC. In comparison to HVAC, HVDC transmission lines have lower power losses. HVDC has no radiation or induction losses. HVDC has no dielectric losses, which increases the conductor's lifetime.

COVID-19 Impact Analysis:

Because power delivery to grid systems is dependent on transmission lines, the power business falls under the category of "essential services." Due to the lockdown in many nations, the COVID-19 pandemic initially had a little impact on the HVDC transmission system business by affecting the supply chain as well as the availability of labour.  However, thanks to the efforts of governments and businesses, the supply chain has been rebuilt and labour availability is returning to normal. In the near future, this is expected to boost the market.

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Top Impacting Factors:

ü  The major factors driving the growth of the HVDC Transmission Market are rising electricity consumption, rising demand for cost-effective solutions for long-distance power transmission, rising demand for valves and circuit breakers, and rising demand for VSC technology.

ü  The potential of HVDC transmission technology to combine new generation with existing infrastructure is propelling the industry as governments around the world begin to support renewable electricity generation.

ü  The HVDC systems market is predicted to increase significantly in the next years, with new projects expected to begin in 2019-2020. However, as the share of distributed and off-grid power generation grows, the necessity for and demand for HVDC transmission systems is predicted to decline, putting downward pressure on the market during the projection period.

ü  Off-grid systems are designed for on-site power generation and consumption with lower voltage requirements, obviating the need for an HVDC system, which is better suited for long-distance and high-voltage applications.

ü  The market for HVDC transmission systems is expected to grow as more offshore wind power generation projects are installed.

ü  Offshore wind energy can generate a large amount of electricity, which may then be distributed to areas where there is a significant demand for electricity.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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