HVDC transmission market demand exceeds 14.66 billion USD in 2016

HVDC transmission market demand exceeds 14.66 billion USD in 2016

Date: Dec 28th 2016

In 2026 the global HVDC transmission market demand exceeds 14.66 billion US dollars.

According to market research firm FMI's latest HVDC system market report said that in 2016 the global HVDC system market size of approximately $ 6.2 billion USD, is expected to 2026, this data will increase to 14.66 billion US dollars, during the compound annual growth rate of 8.8%. Among them, North America, Western Europe and the Asia-Pacific region (excluding Japan) will become the world's leading HVDC regional market.

The power crisis continues to drive demand growth.

With the popularity of advanced group accessory products such as Insulated Gate Bipolar Transistors (IGBTs), HVDC technology will become more effective. It is estimated that by 2026, the market share of the main transmission accessories market to avoid power transmission failures will account for about 60% of total revenue, while the service market based on HVDC accessories market will reach 10.5% compound annual growth rate.

Increased demand for submarine HVDC transmission systems.

According to the comprehensive cost analysis, the high cost of installation is the main factor restricting the popularization and development of HVDC transmission technology. HVDC transmission components are also costly and, once damaged, must be replaced, which also results in high maintenance costs. Relative to the deployment costs, submarine HVDC technology with the installation of a relatively low power and increase the root of the sea will be more and more welcomed by the market. It is estimated that by 2026, overhead HVDC will account for 33% of the total market share, but the deployment of submarine HVDC system with the market size will narrow the gap in less than 5%.

HVDC transmission system capacity is growing.

Because of the low loss and high capacity of HVDC transmission technology, the competitive advantages of these system suppliers in the industry are also increasing. In the power distribution industry sector, managing the impact of energy transmission on the environment to the greatest extent has become a growing concern. The report said that more than 2,000 MW of transmission and distribution capacity will be more welcomed by the market, its market share will continue to increase, is expected to reach 40% by the end of 2026.

HVDC transmission conductor and traditional conductor.

For developing countries where bare aluminum conductors like acsr, aac, aaac and overhead insulated cable AKA ABC cables are still the economic choice for on-land electricity power transmission not only because of its proven stable performance but also because of its easy and fast to deploy. HVDC transmission conductor and traditional conductor will stays intergrowth in a long time for sure.