Australia High Voltage Direct Current (Hvdc) Transmission Systems Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The market for high voltage direct current (HVDC) transmission systems in Australia is expected to grow at a CAGR of over 6.99% during the forecast period of 2020 – 2025. Increasing deployment of offshore wind farms, low cost for long-distance transmission, controllability, and low short circuit current are some of the significant factors that drive the Australia HVDC transmission system market over the forecast period. Wind and solar PV power are expected to drive strong growth in renewable energy, as solar along with wind is likely to produce more than 50% of the total generation in many countries. On the other hand, high installation costs and high losses for smaller transmission distances are likely to hinder the market growth.
Key HighlightsThe market for high voltage direct current (HVDC) transmission systems in Australia is consolidated. Some of the major in the market include ABB Ltd., Siemens AG, Toshiba Corporation, General Electric Company, and Mitsubishi Electric Corporation.
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