APAC HVDC Transmission System Market to Grow at a CAGR of 10.1% by 2026

HVDC Transmission System Market: APAC Industry Analysis and
Opportunity Assessment, 2016-2026
April 2017
Report Id : REP-AP-3267
Published On : Apr -2017
Category : Electronics, Semiconductors, and ICT
©2015 Future Market Insights, All Rights Reserved
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HVDC Transmission System Market
HVDC Transmission Systems Gaining Traction in Asia-Pacific’s Offshore Wind Projects
Huge loads of electricity transmitted over long distances can cost millions of dollars for power
distribution companies. In the Asia-Pacific (APAC) region, proliferating expanse of industrialisation and
urbanisation has spiked its power consumption capacities. Power distribution systems operating in this
region are adopting advanced technologies and alternative sources. Governments across several APAC
countries are inducing higher investment in their offshore wind projects, and while doing so, they are
compelled to use efficient power transmission systems. Thus, HVDC transmission systems are actively
instated to provide power over long distances across multiple offshore wind projects in the APAC region.
Revenues from these measures are projected to fuel the growth of the region’s HVDC transmission
systems market.
A recent report published by Future Market Insights projects that by the end of 2026, the HVDC
transmission systems market in Asia-Pacific region will expand at a robust CAGR of 10.1%. Currently, the
market is estimated to be valued at US$ 1,447.6 Mn, and is anticipated to surpass US$ 3,700 Mn towards
the end of 2026. The report predicts that apart from rising adoption of HVDC transmission systems in
APAC’s offshore wind projects, the cost-effectiveness of HVDC transmission systems will also promote
their adoption rate.
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HVDC Transmission System Market
Unlike HVAC systems, initial costs of installing HVDC transmission systems are high, but are
immaterialised as setting up terminal stations and extending power lines saves quite a lot of capital.
Furthermore, HVDC transmission systems are eco-friendly and highly-efficient in supplying power to the
remotest of areas as they are deployed in multiple routes such as overhead, underground, subsea, or a
combination of these. The report reveals that in 2016, more than one-third of HVDC transmission
systems installed across the Asia-Pacific region were deployed as overhead transmission systems.
However, towards the end of the forecast period, subsea deployment of HVDC transmission systems is
likely to gain traction and rake in over US$ 1 Bn in revenues.
The report also reveals that throughout the forecast period, VSC technology will dominate the HVDC
transmission systems market in APAC region by accounting for more than 60% revenue share. Likewise,
HVDC transmission systems installed as power solutions will hold a major share of the market’s value,
while services offered for working of these systems are likely to register a 12.3% CAGR in terms of
revenues.
The report has bifurcated the APAC region into Japan and Asia-Pacific excluding Japan (APEJ), and these
sub-regions are expected to be demand higher power distribution and effective transmission. Another
factor promoting the use of HVDC transmission systems over other alternatives is their efficacy in
averting power outages or blackouts. Nearly 50% of the market’s revenues are, thus, accounted by HVDC
transmission systems with power ratings of 2,001 MWs and above. Also, more than three-fourth of the
market’s growth in concentrated in the APEJ region, making it the dominant region in Asia-Pacific.
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Workstation Market
The report has also profiled prominent players in the APAC HVDC transmission systems market which
include ABB Ltd., Siemens AG, Toshiba Corporation, TransGrid Solutions Inc., General Electric Co., Hitachi
Ltd., Abengoa SA, ATCO Electric Ltd., and Prysmian SpA.
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Table of Content
1. Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Overview
4.1. Introduction
4.1.1. Market Definition
4.1.2. Market Taxonomy
4.2. High Voltage Direct Current (HVDC) Transmission System Market Overview
4.3. High Voltage Direct Current (HVDC) Transmission System Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.4. Value Chain Analysis
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Table of Content
4.5. APAC High Voltage Direct Current (HVDC) Transmission System Market Forecast, 2016–2026
4.5.1. Market Size Forecast
4.5.1.1. Y-o-Y Growth Projections
4.5.1.2. Absolute $ Opportunity
4.6. High Voltage Direct Current (HVDC) Transmission System Market Trends
4.7. APAC High Voltage Direct Current (HVDC) Transmission System Market Snapshot (2015)
4.7.1. Market Share By Region
4.7.2. Market Share By System Component
4.7.3. Market Share By Application
4.7.4. Market Share By Technology
4.7.5. Market Share By Power Rating
5. APAC High Voltage Direct Current (HVDC) Transmission System Market Analysis, By System
Component
5.1. Introduction
5.1.1. Y-o-Y Growth Comparison, By System Component
5.1.2. Basis Point Share (BPS) Analysis, By System Component
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Table of Content
5.2. APAC High Voltage Direct Current (HVDC) Transmission System Market Forecast By System
Component
5.2.1. Solutions
5.2.1.1. AC & DC Harmonic Filters
5.2.1.1.1. Absolute $ Opportunity
5.2.1.1.2. Market Size Forecast, By Region
5.2.1.2. Converters
5.2.1.2.1. Absolute $ Opportunity
5.2.1.2.2. Market Size Forecast, By Region
5.2.1.3. DC lines
5.2.1.3.1. Absolute $ Opportunity
5.2.1.3.2. Market Size Forecast, By Region
5.2.1.4. Circuit Breakers
5.2.1.4.1. Absolute $ Opportunity
5.2.1.4.2. Market Size Forecast, By Region
5.2.1.5. Others
5.2.1.5.1. Absolute $ Opportunity
5.2.1.5.2. Market Size Forecast, By Region
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Table of Content
6. APAC High Voltage Direct Current (HVDC) Transmission System Market Analysis, By Technology
6.1. Introduction
6.1.1. Y-o-Y Growth Comparison, By Technology
6.1.2. Basis Point Share (BPS) Analysis, By Technology
6.2. APAC High Voltage Direct Current (HVDC) Transmission System Market Forecast By
Technology
6.2.1. LCC
6.2.1.1. Absolute $ Opportunity
6.2.1.2. Market Size Forecast, By Region
6.2.2. VSC
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6.2.2.1. Absolute $ Opportunity
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6.2.2.2. Market Size Forecast, By Region
6.2.3. Others
6.2.3.1. Absolute $ Opportunity
6.2.3.2. Market Size Forecast, By Region
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