Australia High Voltage Direct Current (HVDC) Transmission Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Transmission Type (Submarine HVDC Transmission System, HVDC Overhead Transmission System, and HVDC Underground Transmission System), and Component (Converter Stations, and Transmission Medium (Cables))

Market Snapshot

Market Summary-Australia High-Voltage Direct Current (HVDC) Transmission Systems Market
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >6.99 %

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Market Overview

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.

  • Submarine HVDC transmission system is expected to account for the largest share in the Australia HVDC transmission system market by transmission type on account of upcoming development projects driven by the increasing focus on power trading between countries.
  • The growth of offshore wind power technology and offshore oil and gas sector is likely to create immense opportunities for the market studied.

Scope of the Report

The Australia high voltage direct current (HVDC) transmission systems market report include:

Transmission Type
Submarine HVDC Transmission System
HVDC Overhead Transmission System
HVDC Underground Transmission System
Component
Converter Stations
Transmission Medium (Cables)

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Key Market Trends

Increasing Demand for Submarine HVDC Transmission System

  • The submarine transmission of electricity is gaining importance on account of increasing focus on power trading between countries. The HVDC submarine power transmission system is considered as a key technology for the development of future power transmission networks.
  • It is also the only solution available for the transfer of high power across long subsea distances. For these reasons, HVDC lines are preferred for interconnecting offshore wind plants worldwide.
  • In the HVDC transmission system, the submarine power cables can be less costly, especially on a long link where the capacitance of the cable requires too much additional charging current.
  • As of 2018, the renewable energy capacity in Australia was 24,426 MW. The renewable capacity has been increasing since 2015 i.e. 18,468 MW.
  • An independent review undertaken by the Australian government highlighted the implementation of more HVDC projects. For example, Sun Cable planned a 10 GW solar farm near Tenant Creek in Australia, with facilities to export electricity via. a subsea high voltage direct current (HVDC) cable straight to Singapore in 2019.
  • In 2018, ABB was awarded a project worth USD 30 million to modernize the Murraylink and Directlink high-voltage direct current (HVDC) transmission links with the latest ABB Ability Mach control system. The Directlink transmission system was commissioned in 2000.
  • Therefore, factors such as the increasing number of offshore wind farms along with inter-connections between countries through submarine cables are expected to increase the demand for submarine transmission systems over the forecast period.
Australia HVDC Transmission System Market - Renewable Energy Capacity

Increased Penetration of Renewable Energy Driving HVDC Transmission System

  • Given the increase in renewable generation in recent years, it has become increasingly important to deploy direct high-voltage current (HVDC) transmission lines. The HVDC transmission lines have a significant role to play when additional renewable generation sources become integrated into electrical grids.
  • Australia is a vast country with a low population density. It is also an energy self-sufficient country that is rich in energy resources, from fossil-based to renewable energy. Although coal and natural gas account for the major share of electricity generation in Australia, the country plans to retire approximately 63% of the existing coal generation fleet by 2036.
  • In 2018, Australia exceeded 20% of total electricity production from renewables for the first time. There has been the large-scale implementation of renewable energy projects in the country that are located at far off places and need to be grid-connected. To reduce the losses, these can be connected through the HVDC transmission system.
  • The growing share of renewables in the country is expected to significantly supplement the demand for HVDC transmission systems in Australia, as most of the renewables projects are located at far off places from the demand centers.
  • The government plans to utilize its surplus energy resources with the integration of more renewables via. super-grid interconnection, linking Australia to Asian grids, like the Australian–Asian (Power) Grid (AAG) Project. Therefore, this is expected to create higher demand for HVDC transmission systems in the next few years.
Australia HVDC Transmission System Market- Primary Energy Consumption

Competitive Landscape

The 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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE ANALYSIS

  5. 5. MARKET SEGMENTATION

    1. 5.1 Transmission Type

      1. 5.1.1 Submarine HVDC Transmission System

      2. 5.1.2 HVDC Overhead Transmission System

      3. 5.1.3 HVDC Underground Transmission System

    2. 5.2 Component

      1. 5.2.1 Converter Stations

      2. 5.2.2 Transmission Medium (Cables)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 ABB Ltd.

      2. 6.4.2 General Electric Company

      3. 6.4.3 Siemens AG

      4. 6.4.4 Mitsubishi Electric Corporation

      5. 6.4.5 Schneider Electric SE

      6. 6.4.6 LS Industrial Systems Co Ltd

      7. 6.4.7 Cisco Systems, Inc.

      8. 6.4.8 NKT A/S

      9. 6.4.9 Prysmian SpA

      10. 6.4.10 Toshiba Corporation

      11. 6.4.11 Doble Engineering Co

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Australia High Voltage Direct Current (HVDC) Transmission Systems Market market is studied from 2016 - 2026.

The Australia High Voltage Direct Current (HVDC) Transmission Systems Market is growing at a CAGR of >6.99% over the next 5 years.

ABB Ltd. , Siemens AG , General Electric Company , Toshiba Corporation , Mitsubishi Electric Corporation are the major companies operating in Australia High Voltage Direct Current (HVDC) Transmission Systems Market.

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