NEW YORK, Jan. 20, 2016 /PRNewswire/ -- Analysis of the Global HVDC and FACTS Market
The Integration of Renewables into Grid Networks is Driving Remarkable Developments in High-voltage Transmission Systems
As a result of global population explosion and growing power demand, utilities are investing in new power plants. The rise in environmental concerns urges power producers to invest in clean energy, which is typically located in remote regions. To connect such remotely located power generation sources and to also minimize transmission losses, companies deploy high-voltage systems, including high-voltage direct current (HVDC) systems and flexible alternating current transmission systems (FACTS). This study discusses global market opportunities and drivers and restraints that will impact future market growth.
Global transmission and distribution (T&D) is in the process of upgradation due to the rise in population and power demand.
- By 2040, electricity demand is projected to increase by % and the share of renewables is estimated to increase to %.
- To integrate the growing population and the power generated from renewable sources located in remote locations, significant investment in T&D networks is required.
- High-voltage networks are mandatory in the transport of power from generating stations to the point of consumption, at minimal loss.
- Typical market drivers in the high-voltage direct current (HVDC) and flexible alternating current transmission systems (FACTS) market include government regulations to improve power transmission efficiency, the integration of alternate energy sources, and the growing power demand. - High investment cost and supply chain constraints are some of the factors that will restrain market growth during the forecast period.
- Growth rate varies across the world due to the availability of technology, investment, and other factors. From 2014 to 2020, the market is expected to register a compound annual growth rate (CAGR) of %.
Key Questions This Study Will Answer
Is the market growing, how long will it continue to grow, and at what rate?
Are the existing competitors structured correctly to meet customer needs?
What are the key factors likely to challenge market growth during the forecast period?
How will the structure of the market change with time? Is the market ready for acquisitions?
What are the key factors that will drive the market over the coming years?
Are the vendors in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?
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