Global HVDC Circuit Breaker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global HVDC Circuit Breaker Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The HVDC circuit breaker is a switching device that interrupts the flow of abnormal direct current in the circuit. When the fault occurs in the system, the mechanical contacts of the circuit breaker are pulled apart and thus their circuit is open. The main application of the HVDC circuit breaker is to interrupt the high voltage direct current flows in the network. AC circuit breaker easily interrupts the arc at natural current zero in the AC wave.

Market Overview:

The latest research study on the global HVDC Circuit Breaker market finds that the global HVDC Circuit Breaker market reached a value of USD 801.46 million in 2022. It’s expected that the market will achieve USD 963.97 million by 2028, exhibiting a CAGR of 3.12% during the forecast period.

Influence of COVID-19 Outbreak on HVDC Circuit Breaker Industry Development

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID 19 on the HVDC Circuit Breaker industry will involve all major links and entities in the industrial chain. The management efficiency of the company is declining, commuting is seriously hindered, production plans are seriously hindered, network expansion is delayed, marketing is delayed, brand adjustment is forced, market sales are declining, and the income of the company and employees is declining. The impact on the HVDC Circuit Breaker industry depends on the prevention and control effect of COVID-19.

Affected by COVID-19, logistics express delivery was slowed down or even suspended, and the supply of raw materials for Industrial Safety Shoes was tight. Production stagnated, the company's inventory increased, and the production of related enterprises in the hardest-hit areas was greatly affected. The short-term epidemic has little impact on the raw material supply of enterprises, mainly consuming inventory materials, while the long-term epidemic will cause immeasurable losses. If the epidemic develops further, logistics will always be unsatisfactory, and even large enterprises will face the problem that insufficient raw materials will affect production.

SWOT Analysis

Technical Progress

Multi-terminal HVDC systems are emerging to integrate bulk renewable energy, e.g., wind offshore, over long distances, or in the next stage could also be used for DC overlay grids. Such a system requires HVDC circuit breakers. With the continuous development of market demand, the technology of HVDC Circuit Breaker products has been continuously developed. From mechanical circuit breaker with passive resolution circuit to mechanical breaker with active current injection. The development of high-power devices such as integrated gate thyristors provides more choices for the topology of solid-state DC circuit breakers. ABB Power Grid's Hybrid HVDC breaker removes a significant technical challenge in the development of HVDC grids, which has been a limitation for high voltage DC technology expansion. It permits the transmission system to maintain power flow if there is a fault on one of the lines; the breaker isolates the fault by breaking the direct current, even if extremely high-power levels are required. ABB Power Grids Hybrid HVDC breaker reaches a new level in testing by EU-funded Program.

Development of HVDC Transmission

In the field of transmission, in order to adapt to the new energy pattern, multi-terminal DC transmission system and HVDC grid technology based on conventional HVDC and flexible HVDC will become the future development trend. Multi-terminal DC transmission has realized multi-power supply and multi-drop power reception, which is a more flexible and fast transmission mode. It also has great advantages in the future urban intelligent distribution network and microgrid, and is of great significance to the construction and development of the future power grid.

In the field of distribution, driven by modern power electronics technology and distributed generation, high-voltage DC distribution network has great development prospects. On the one hand, all the commonly distributed power sources can generate DC or change into DC after rectification. If these power sources are connected to the DC distribution network, the commutation link will be greatly saved. On the other hand, at present, many loads use DC power supply, which can be directly supplied to these loads in high-voltage DC distribution networks without rectifiers, thus reducing costs and losses. Compared with AC distribution network, DC distribution network has many technical and economic advantages because of its low line cost, low transmission loss and high-power supply reliability. The market demand for HVDC Circuit Breaker as high voltage DC protection equipment is increasing.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

The major players operating in the HVDC Circuit Breaker market include Hitachi ABB, Mitsubishi, STATE GRID Corporation of China, Alstom etc. Among these, Hitachi ABB ranked top in terms of sales and revenue in 2022.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group consists of several divisions including Power Products, Power Systems, Discrete Automation and Motion, Low Voltage Products, and Process Automation. Technology plays a key role in the success of The ABB Group. ABB has activities all over the world working to develop unique technologies that make ABB customers more competitive, while minimizing environmental impact. Hitachi Ltd. is Japan's largest manufacturer of electrical machinery and a leading producer of semiconductors. According to Business Week, the company contributed two percent of Japan's gross national product in the early 1990s. The conglomerate's roster of over 20,000 products runs the gamut from the smallest, most powerful computer memory chips to massive nuclear and hydroelectric power plants, but its most familiar lines are consumer electronics.

Mitsubishi Electric Corporation is a Japan-based company engaged in the comprehensive electric business. The Company operates in six business segments. Heavy Electrical Systems segment provides turbine generators, large video display devices, as well as elevators.

Segmentation Overview:

The VSC-HVDC segment by type showed a value growth of 58.14% in 2021.

The Voltage Source Converter based High Voltage Direct Current (VSC-HVDC) is a new generation HVDC technology. Because of the technology of the PWM and the turn-on and turn-off electronic apparatus, VSC-HVDC could make up for the defect of the traditional HVDC. And the development is rapid. The VSC-HVDC is different from the HVDC based on the current source converter. The VSC-HVDC is based on the technology of IGBT and PWM. Firstly, the technology can decouple control of the active power and the reactive power by itself. Second, it can offer power to the passive network, the communication is not required between the converter stations. Finally, it is easy to structure the multiterminal DC system. Moreover, it can provide active power and reactive power in an emergency. It can complete better for enhancing the system stability and the transfer capability.

A Current-Sourced Converter (CSC) - High Voltage Direct Current Transmission (HVDC) link can be either long distance or back-to-back (BTB). In a long-distance HVDC system, the rectifier and inverter stations are connected via an overhead line or cable or a combination of both. The integration of nonlinear VSC-HVDC transmission systems in power grids becomes very important for environmental, technical, and economic reasons. These systems have enabled the interconnection of asynchronous networks, the connection of offshore wind farms, and the control of power flow especially for long distances.

Application Overview:

The market's largest segment by application is the segment Transmission & Distribution, with a market shareof 51.16%in 2021.

Transmission and distribution refer to the different stages of carrying electricity over poles and wires from generators to a home or a business. The primary distinction between the two is the voltage level at which electricity moves in each stage. After electricity has been generated, a system of electrical wires carries the electricity from the source of generation to our homes and businesses. These lines can be found overhead or sometimes in the ground, and, combined, transmission and distribution lines make up what is commonly called the grid. Transmission and distribution are two separate stages or systems on the grid. Transmission is the interstate highway of electricity delivery. It refers to the part of electricity delivery that moves bulk electricity from the generation sites over long distances to substations closer to areas of demand for electricity. Consumers may recognize transmission lines as larger, taller poles/towers carrying many wires over longer distances. Transmission lines move large amounts of power at a high voltage level a level that is too much to be delivered directly to a home or business. Transmission lines, transformers, substations and other equipment have voltages of 100 kV (100,000 volts) and above.

Renewable energy, often referred to as clean energy, comes from natural sources or processes that are constantly replenished, such as solar energy, wind power, tidal energy, geothermal energy, hydropower, and biogas. An HVDC transmission system is the renewable energy industry's best bet for expediting the deployment of cheap, clean power for our everyday electricity needs.

Key Companies in the global HVDC Circuit Breaker market covered in Chapter 3:

Alstom
Mitsubishi
Hitachi ABB
STATE GRID Corporation of China

In Chapter 4 and Chapter 14.2, on the basis of types, the HVDC Circuit Breaker market from 2018 to 2029 is primarily split into:

VSC-HVDC
CSC-HVDC

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the HVDC Circuit Breaker market from 2018 to 2029 covers:

Transmission & Distribution
Renewable

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)