The goal of European energy policy is to provide a secure, sustainable and competitive energy supply for all European citizens and companies. Electricity is central to this goal because it can be generated from a variety of sources (including renewable sources), and because millions of people use it every day. HVDC transmission technology is playing a key role in this vision because of its unique capabilities.
Quest for clean and renewable power is increasing globally year by year. Governments are looking at different ways to solve their energy crisis; interconnection of HVDC systems is one in that. Lots of investment is going into connecting different power grids and thousands of Megawatts of power is being sent everyday across these grids.
The first long distance High Voltage Direct Current was sent in 1882 over 57 km and only 1.5kW was sent in Germany. Now the longest transmission is the Rio Madeira transmission link in Brazil which has a length of 2385km and sends 7.1GW of power.
In these 130 years the concept of Direct Current has again come into relevance with people realising its advantages over long distance transmission and how the problems that were earlier faced can be overcome. Thomas Edison popularised the concept of DC everywhere but it never really caught the imagination of the people. Now after numerous researches and new innovations in this field, the industries are again looking at HVDC to overcome the problems of HVAC transmission.
The average size of the HVDC transmission systems has increased in the recent years. The market for this transmission system is also increasing with more countries getting involved with the project and installing more HVDC grids.
HVDC has various advantages like for long distances it is much cheaper to transmit power, the transmission losses are less for larger distances, they do not have any maximum transmission distance and one of the very big advantage is that it allows the power to be transferred from one AC grid to another having different frequencies. This helps in linking incompatible grids, brings stability and increases the economy.
The main concerns with HVDC are that its converter stations are expensive and the system of controlling the power flow must be well communicated so the multi-terminal systems are costly. There are big companies getting involved in the HVDC market and are coming up with innovative ideas to solve some of the issues concerning this market.
In HVDC the basic process at the transmitting end is to convert the AC to DC and at the receiving end convert this DC back to AC. These conversions can be done by using rectifiers and inverters. The other important devices used in this are filters, thyristors, Insulated Gate Bijunction Transistor (IGBT) and Voltage Source Converter (VSC). There is a lot of research going on in the VSC field because it is one of the key aspects to reduce the losses. The power can be sent by overhead lines or undersea cables.
What the Report Offers
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the HVDC transmission systems Market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5) Identification and analysis of the Macro and Micro factors that affect the HVDC transmission systems market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.