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HVDC transmission market to reach $9.62B by 2018

Posted: 28 Aug 2013 ?? ?Print Version ?Bookmark and Share

Keywords:HVDC? IGBT? thyristors?

According to MarketsandMarkets, the increasing wind farms, focusing on power trading and reliable power transmission in the continent have been driving the high-voltage, direct current (HVDC) grid market. The market analytics firm added that wind farms would produce 10,000MW of power, which is about 50 times more than today's offshore farms. Even the European Union, also focusing on the adoption rate of the HVDC grid as they have set a target of 20 per cent of electricity from renewable sources by 2020.

Europe and APAC are considered to be the fastest growing markets due to high development in power transmission networks. American market also constitutes as a substantial share in high voltage direct current market where as the U.S. is considered as the major contributor. The ageing infrastructure and recent blackout in the U.S. is the reason behind the adoption of HVDC in the region. From these factors, it is believed that these markets will grow at a significant rate for the forecast period of 2013 and 2018.

Global HVDC grid market is expected to reach $9.62 billion by 2018, at an estimated CAGR of 16.97 per cent 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 incentivisation. 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, surge arrester, converter transformer, DC circuit, smoothing reactors, harmonic filters, control and protection. The power rating market is categorised into below 500MW, 501-999MW, 1000-2000MW, above 2000MW.

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