The quest for clean and renewable power is increasing globally year by year. Governments are looking at ways to solve their energy crisis, and interconnecting power grids is one of those. The challenge with network interconnection is that AC grids at different frequencies cannot be directly connected. A high voltage direct current (HVDC) system allows the asynchronous interconnection of networks that operate at different frequencies or are otherwise incompatible. HVDC systems are also fast becoming the preferred technology for long distance power transmission in view of their advantages over HVAC transmission systems. In this context, the global HVDC transmission systems market has been estimated to be USD XX billion in 2016 and is projected to reach USD XX billion by 2022, at a CAGR of XX% in the forecast period (2017-2022).
The first long distance HVDC transmission was in 1882, from Miesbach to Munich in Germany. 1.5kW was transmitted over a distance of 57 Km. 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 realizing its advantages in long distance transmission, and how the problems that were faced earlier can be overcome. Thomas Edison popularized 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 High-Voltage Direct Current (HVDC) transmission systems has increased in recent years. The market for HVDC systems is also increasing with more and more countries getting involved in HVDC transmission.
HVDC offers various advantages to power transmission utilities. It is much cheaper and the losses are less for large distance transmission when compared to AC. One of its greatest advantages is that it allows power to be transferred from one AC grid to another having different frequencies. This allows grid linking between different regions following different grid frequencies.
The main concerns with HVDC are that its converter stations are expensive and multi-terminal systems are complex. There are many big players in the HVDC market, and they 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 Bipolar Transistor (IGBT) and Voltage Source Converter (VSC). There is a lot of research going on into VSCs because it is one of the key aspects to reduce losses. Power can be transmitted through overhead lines or undersea cables.
The report offers the Market Definition for HVDC transmission systems and identifies the key market drivers and restraints. A market analysis for the HVDC transmission systems Market, with region specific assessments and competition analysis on a global and regional scale have been carried out. Prospective opportunities and factors instrumental in changing the market scenarios have been analyzed in detail. An extensively researched competitive landscape section gives the profiles of major companies along with their share of markets, current strategies and key financial information. Macro and Micro factors that affect the HVDC transmission systems market on both a global and regional scale have been identified and analyzed.