High Voltage Direct Current (HVDC)
HVDC is one of the fastest growing markets in the field of transmission because of its ability to address major issues encountered by modern grids such as steep rise in renewable integration, grid congestion, security of supply, bulk power transfer, and asynchronous grid connections. Within PTR’s HVDC segment, a wide range of services are offered to provide in-depth analysis of the HVDC market across the globe.
The global HVDC market is expected to accelerate at a CAGR of 3% over the next 5 years (2021-2025). The major factor instigating the demand for global HVDC capacity is the growth in offshore wind installations. To connect more powerful offshore wind farms and bring more energy onshore in Europe, for example, TenneT, the region’s leading electricity transmission system operator, has developed the new 2GW-525kV HVDC offshore grid connection standard.
According to PTR’s research, 8 new HVDC projects were commissioned worldwide in 2020, despite Covid-19. On a global level, China is leading the HVDC market overall with 29 GW added in 2020 alone, accounting for approximately 73% of the global market share in terms of capacity. The United States’ HVDC market remained halted during 2020 with no new project installation compared to other regions. That said, the United States is a market with fruitful potential for HVDC linkages in the future due to President Biden’s commitment to renewable energy, and the aging of much of the preexisting electrical grid.
Developments are being made in the DC protection and control area as well. A step towards the realization of the DC grid: recently, in KEMA Laboratories (Netherlands), ABB’s 350KV-20kA Hybrid HVDC circuit breaker was tested successfully. In terms of the installed base, Line-Commutated Converters (LCC) are the dominant technology in the market with a share of 87%. However, with continued technological developments, the HVDC market is moving towards IGBT-based Converter Technology (Voltage Source Converters – VSC) due to the better stability and control features of the technology. PTR covers both HVDC converter technologies: LCC and VSC as part of its in-depth market analysis.
Through PTR’s HVDC Service, we provide you with all of the key trends, figures, and datapoints along with our expert analysis so that you can focus on making the important decisions you need to make with confidence. PTR’s Global Project Specific Database (installed and pipeline), Global HVDC Capacity Dataset, Global HVDC Market Report, and the signature PTR Sonar platform make this service an all-encompassing informative asset that provides you with the latest intel along with clear analysis of what it means for you.
Key Questions Addressed in the Service
- How does the current global installed base of HVDC market look like?
- What is the existing footprint of different converter manufacturers in global HVDC market?
- Which HVDC technology is expected to grow faster in coming years?
- Which countries/regions have the most number of HVDC projects in the pipeline?
- How will the size/capacity of HVDC projects grow in near future?
- What is the potential for HVDC cable manufacturers in future years?
Scope of Research – High Voltage Direct Current
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High Voltage Direct Current (HVDC) – Project Specific Market Analysis
High Voltage Direct Current (HVDC) is one of the fastest growing market in the field of Transmission and Distribution because of its ability to address major issues encountered by modern grid like steep rise in renewable integration, grid congestion, security of supply, Bulk power transfer and asynchronous grid connections. Currently, as of 2019, there are more than 200 HVDC projects installed globally with apprx. 370 GW of transmission capacity. China is the largest market globally with 43 HVDC links installed totalling a capacity of 168GW today. HVDC market is estimated to grow at a faster rate in years to come and will be driven by installation of offshore wind power projects in Europe and centralized generation in India and China. Regulations enforced by utilities and grid requirements will cause VSC based HVDC to dominate other existing technologies.
This market tracker contains in-depth details about HVDC projects installed in last two decades and future outlook of HVDC market. Each HVDC project is broken down into its technical details and cost information at subcomponent level. Technical details include converter topologies, types of cable, filtration equipment and HVDC transformers. Cost outputs of market tracker are categorized as power converter cost per unit power ($/KW) and HVDC cable cost per unit length ($/Km).
What is covered?
Project Specific Coverage:
The following details are available for more than 340 HVDC projects in the database (200 installed, 140 future projects till 2030) to allow for better data analysis and comparison:
Installed and upcoming projects for countries in:
Opportunities & Bottlenecks
– Role of VSC based systems
– Off-shore wind power and Voltage Ride Through (VRT)
– Other opportunities in the market
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Global Project Specific Analysis
Project specific market coverage of HVDC includes the detailed information on country specific projects across the globe. This version is applicable to customers who want a detailed outlook including upcoming HVDC projects by country, technology trends, technical details of all installed projects and competitive/supplier analysis. Download the abstract below for a detailed ToC.
Executive Insights Dataset
Execuive Insights version offers a region specific capacity analysis covering HVDC capacity additions (MW) in Americas, EMEA, China, Japan and Rest of APAC. This low cost version is aimed at customers who only require quick insights on a regional basis for high level planning purposes. Download the abstract below for sample output table.