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Major Trends in HVDC Transmission Market

The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018u20132024.<br>https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html

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Major Trends in HVDC Transmission Market

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  1. MarketsandMarkets Presents Major Trends in HVDC Transmission Market HVDC Transmission Market by Component (Converter Stations, Transmission Cables, and Others), Project Type (Point-to-Point, Back-to-Back, and Multi-Terminal), Technology (CCC, VSC, and lCC), Application, and Geography - Global Forecast to 2024 https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html

  2. The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018–2024. Major drivers for market growth are optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission. However, the high cost of installing HVDC transmission systems is the major restraint for the growth of the market. Browse 91 market data Tables and 48 Figures spread through 147 Pages and in-depth TOC on "HVDC Transmission Market - Global Forecast to 2024"

  3. Bulk power transmission to hold largest share of HVDC transmission market during forecast period HVDC systems are preferred for sending bulk power across long distances, with fewer power losses. That makes the underlying technology valuable for overcoming an important problem associated with renewable energy generation, harvesting points for which are seldom located near the population centers that need them. HVDC is economical, which results in higher efficiency, lesser conductor, no reactive power compensation, and more stable and reliable operations than an equivalent high voltage alternating current (HVAC) system transmitting the same amount of power. Download Free PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1225 HVDC transmission market for multi-terminal project type to grow at highest CAGR during forecast period Of all the project types, the market for multi-terminal is expected to witness the highest CAGR. Multi-terminal HVDC systems connect non-synchronous power systems and offer flexibility in interchanging power between 3 or more converter stations. Multi-terminal HVDC systems are one of the cost-effective ways to aggregate large amounts of renewable energies through HVDC land cables, sea cables, or overhead lines on one side, and connect the aggregated energy to the main AC system through a common DC network.

  4. APAC to hold largest share of HVDC transmission market during 2018–2024 The HVDC transmission market in APAC is segmented into China, Japan, India, and Australia. The demand for uninterrupted power plays a crucial role in driving the adoption of HVDC in the region. The development of power infrastructure in this region offers many growth opportunities for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For instance, 2 of the world’s most powerful and longest HVDC power transmission highways, each with a nominal rating of 3,000 MW, are currently being installed in China. The region’s emerging economies, such as China and India, provide power capacity addition across the existing power infrastructure, which is a major driving factor for the increasing demand for HVDC transmission in APAC. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1225 Key players in the HVDC transmission market ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy).

  5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. 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. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  6. Contact Us Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:newsletter@marketsandmarkets.com For More Info: https://www.marketsandmarkets.com/PressReleases/hvdc-grid.asp

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