Global HVDC Overhead Transmission System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029
HVDC stands for High Voltage Direct Current Transmission. It refers to the massive transmission of electricity in the form of DC over long distances by means of submarine cables or overhead transmission lines. This report only studies HVDC Transmission System by means of overhead transmission lines. The HVDC transmission system provides efficient and economic transmission of power even to very long distances that meet the requirements of growing load demands. Due to its simple constructional feature and less complexity, research, and development authority discovered its usage in modern power transmission. This method of transmitting electricity over long distances is preferred over HVAC as HVDC lines are less expensive and losses are also less as compared to HVAC transmission. HVDC is also popularly known as Electrical Super Highway or Power Super Highway.
Market Overview:The latest research study on the global HVDC Overhead Transmission System market finds that the global HVDC Overhead Transmission System market reached a value of USD 7801.14 million in 2022. It’s expected that the market will achieve USD 14478.96 million by 2028, exhibiting a CAGR of 10.86% during the forecast period.
Overhead lines rely on the air gap between the conductors and the ground as electrical insulation and to provide cooling for the conductors. Conductors are suspended from towers by insulators made of either ceramics or polymers, although polymer insulators are generally used for HVDC applications because of their improved pollution performance. HVDC overhead lines can be used up to 800kV and are capable of transporting more than 6GW on a single bipole route.
Overhead lines rely on the air gap between the conductors and the ground as electrical insulation and to provide cooling for the conductors. Conductors are suspended from towers by insulators made of either ceramics or polymers, although polymer insulators are generally used for HVDC applications because of their improved pollution performance. HVDC overhead lines can be used up to 800kV and are capable of transporting more than 6GW on a single bipole route.
The price of an HVDC overhead transmission system depends on several variables, including the amount of power to be carried, the kind of transmission medium (land-based or underwater), environmental concerns, access to easements and the price of converter stations and related equipment. The system requires additional pieces of hardware, such as a converter transformer, pole & valve controls, mechanical & electrical auxiliaries and many others. All of this equipment is quite expensive and of the highest technology. HVDC transmission systems have substantial installation and maintenance costs because of their design.
Region Overview:In 2021, the share of the HVDC Overhead Transmission System market in Europe stood at 45.15%.
Company Overview:Hitachi Energy
Hitachi Energy serves customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas like sustainable mobility, smart cities, energy storage and data centers.
Siemens AG
Siemens AG is the world's leading technology company, and has been committed to excellence in engineering, innovation, quality, reliability and international development for 170 years. The company's operations span the globe, with a focus on electrification, automation and digital. As one of the world's largest providers of energy efficient and resource efficient technologies, Siemens is a leader in high efficiency power generation and transmission solutions, infrastructure solutions, industrial automation, drive and software solutions. The company is also a leading provider of imaging diagnostic equipment such as computed tomography and magnetic resonance imaging systems, as well as laboratory diagnostics and clinical IT.
Segmentation Overview:Among different product types, Point-to-Point Transmission segment is anticipated to contribute the largest market share in 2027.
Application Overview:The market's largest segment by application is the segment Onshore, with a market share of 74.42% in 2021.
Key Companies in the global HVDC Overhead Transmission System market covered in Chapter 3:Mitsubishi Electric Corporation
Nexans SA
Siemens AG
Toshiba
NR Electric Co
Sumitomo Electric industries
Hitachi Energy
General Electric Co
In Chapter 4 and Chapter 14.2, on the basis of types, the HVDC Overhead Transmission System market from 2018 to 2029 is primarily split into:Point-to-Point Transmission
Back-to-Back Station
Multi-Terminal System
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the HVDC Overhead Transmission System market from 2018 to 2029 covers:Offshore
Onshore
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)