High Voltage Direct Current (HVDC) Market Analysis

INTRODUCTION

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

Installed and upcoming projects for countries in:

Role of VSC based systems
Off-shore wind power and Voltage Ride Through (VRT)
Other opportunities in the market

Global Project Specific Database

Regions Available

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

Delivery Format

Glimpse of the Report

Excel Data Output For Integration

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