HVDC Transmission Grid Market Growth Driven by Offshore Wind Farms Installation Says a New Research Report at ReportsnReports.com
Dallas, Texas (PRWEB) August 27, 2013 -- Global HVDC grid market is expected to reach $9.62 billion by 2018, at an estimated CAGR of 16.97% from 2013 to 2018. The major driving factors for global HVDC grid market are the growth in offshore wind farms installation and increasing the government incentivization. In the report, different technologies are discussed like line commutated converters and voltage source converters. The configuration includes back to back, monopolar, bipolar and multi-terminal. The HVDC’s component comprises thyristor, IGBT (insulated gate bipolar transistor), surge arrester, converter transformer, DC circuit, smoothing reactors, harmonic filters, control & protection. The power rating market is categorized into below 500 MW, 501 MW – 999 MW, 1000 MW – 2000 MW, above 2000 MW.
The depleting conventional power generation has drawn attention towards exploring the new prospects of power generation sources. Across the globe power consumption, demand tends to increase in near future. The major economies such as China and India, are continuously striving to develop scope to generate power from new sources such as wind farms, solar panel and tidal to satiate the power consumption demand of the cities.
High voltage direct current grid is a main step towards power generation from the renewable sources. The growing need for integrated network, transmit bulk power generated from the remotely located renewable sources and interconnection with the neighboring grids are the key driver of the HVDC transmission market (http://www.reportsnreports.com/reports/267615-hvdc-transmission-market-by-technology-lcc-vsc-configuration-back-to-back-monopolar-bipolar-multi-terminal-power-rating-below-500-mw-501-mw-999-mw-1000-mw-2000-mw-above-2000-mw-application-component-geography-2013-2018-.html ). The Global transmission grid market is expected to grow at a CAGR of 16.97% in the next five years (2013-2018).
Some of the major companies dominating the global HVDC market are ABB (Switzerland) Siemens (Germany), Alstom (France), Toshiba (Japan), and others. ABB (Switzerland) and Siemens (Germany) are the key players of power generation and transmission market and it is found that these companies covers more than 80% of the overall market share in the global HVDC market.
In-depth competitive landscape for each player and market share has been given in the report along with geographic analysis for HDVC grid market, covering the major regional markets, viz. Americas, Europe, Asia-Pacific, and Rest of the World (ROW). Some of the major contracts, agreements, major acquisitions, collaborations, and partnerships that boost the HVDC grid are discussed in the report.
Scope of the report
This research report categorizes the HVDC transmission market based on various applications, technology, power rating, configuration, component, and geography; it also covers the revenue foretold from 2013 to 2018. It describes the demand for HVDC grid in various regions. The report describes the applications mapping in the HVDC transmission market with respect to the growth potential.
On the basis of the applications
HVDC are used for various applications such as underground power links, interconnecting networks, powering island and remote loads, connecting wind farms and oil and gas offshore, connecting wind farms and interconnecting networks are the major application of the HVDC grid.
On the basis of the Technologies
In this research report HVDC technology is segregated into line commutated converters and voltage source converters. The power electronic in this space has shown real prospects of high voltage transmission. The technical innovation in converter sphere allows power transmission from the remote offshore platforms and wind farms to the onshore.
On the basis of the configuration
The configuration used in HVDC grids are back to back, monopolar, bipolar and multi-terminal. The bipolar configuration widely adopted due to harness power from renewable energy sources and efficiently transporting power generated from renewable sources requires advance and technical equipped technology.
On the basis of the power rating
The HVDC power rating includes below 500 MW, 500 MW – 999 MW, 1000 MW -2000 MW and above 2000 MW. The high MW power projects are being commissioned to meet the power needs of urban cities.
On the basis of the component
The report includes the various component used in HVDC grids are thyristor, IGBT (insulated bipolar transistor), smoothing reactor, surge arrester, converter transformer, DC transmission, harmonic filters and control & protection.
On the basis of the geographical regions
Geographical analysis covers Americas, Europe, Asia-Pacific, and ROW. In this report, APAC is leading the global HVDC transmission market because of the development in power infrastructure in countries like China and India. APAC is followed by the European region where they are planning to integrate the renewable energy sources such as wind power and solar power grids. The need of transmission lines interconnection for more efficient power and energy use is also driving the growth of HVDC grid in this region.
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