PUNE, India, May 11, 2016 /PRNewswire/ --
According to the new market research report "High Voltage Direct Current (HVDC) Transmission Market by Technology (CCC, VSC, LCC & UHVDC), Component (Converter Station & Transmission Cable), Project Type (Point-to-Point, Back-to-Back, Multi-Terminal), Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the HVDC transmission market is estimated to reach USD 10.77 Billion by 2022, at a CAGR of 8.4% between 2016 and 2022. In terms of power capacity, the market is estimated to reach 85.79 GW by 2022, at a CAGR of 9.8% between 2016 and 2022.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 72 market data Tables and 78 Figures spread through 167 Pages and in-depth TOC on "High Voltage Direct Current (HVDC) Transmission Market"
http://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html
Early buyers will receive 10% customization on this report.
Factors such as better performance by HVDC systems than HVAC systems, integration of renewable energy into HVDC, growing demand for VSC-based & UHVDC technology, and increasing offshore wind transmission projects are driving the growth of the HVDC transmission market. However, high cost of installation and circuit breakers and standardization of HVDC systems are some of the major challenges faced by the HVDC transmission market at large.
VSC-based technology expected to lead the market during the forecast period
In the HVDC Transmission Market, the most used technology is VSC based; the market for this technology is expected to grow rapidly during the forecast period due to its increasing application in offshore, submarine, and underground transmission and the growing need for a reliable electricity supply that supports economic growth and environmentally friendly practices.
The market for offshore power transmission is expected to grow at the highest CAGR between 2016 and 2022
The market for offshore power transmission is growing over the past decades; it is also expected to grow during the forecast period because of the increase in number of wind power generation projects since wind energy can produce the major amount of power, which can be distributed to the locations where the demand for electricity is high.
The market in APAC expected to grow at a high CAGR during forecast period
The HVDC transmission market in APAC held the largest share of the global market in 2015; it is expected to grow at the highest CAGR between 2016 and 2022. This growth can be attributed can be attributed to the high investments made by both regional and global companies, such as ABB, Siemens, GE, and Hitachi among others, in this region.
Major players operating in the HVDC transmission market are ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Hitachi (Japan), Toshiba (Japan), Nexans (France), American Superconductor (U.S.), NR Electric (China), Prysmian (Italy), and Transgrid (U.S.) among others
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1225
The report describes the market dynamics including the key drivers, restraints, challenges, and opportunities with respect to the smart home market and forecasts the market till 2022. This global report provides a detailed view of the market segmented on the basis of product, software and service, and geography.
Browse Related Reports
Flexible AC Transmission Systems (FACTS) Market by Compensation Type (Shunt, Series & Combined), Component, Application, Verticals (Electric Utilities, Renewables, Railways, Industrial, And Oil & Gas), and by Geography - Global Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/flexible-ac-transmission-system-market-1228.html
Static VAR Compensator (SVC) Market by Type (Thyristor Based, MCR-Based), by Component, by Vertical (Electric Utility, Renewable- Wind Power & Solar Farm, Railway, Industrial- Steel & Mining and Oil & Gas), and Geography - Global Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/static-var-compensator-market-96574756.html
About MarketsandMarkets
MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Share this article