HVDC transmission system is basically environment-friendly because improved energy transmission possibilities contribute to a more efficient utilization of existing power plants. The ever increasing demand of electricity has laid enormous pressures on the present infrastructure of the power generation capacity.HVDC systems can transmit more electrical power over longer distances than a similar alternating current (AC) transmission system, which means fewer transmission lines are needed, saving both money and land. Beside power generation, transmission loss is also of the main worries as huge transmission losses are being incurred by the present AC transmission. Hence, HVDC transmission becomes an interesting preposition across the globe due to its lower transmission losses, asynchronous interconnection and the capability to deliver bulk power for long distance transmission.
The HVDC market is growing rapidly and has become an importantpart of many transmission grids. HVDC transmission systems form an integral part of the electrical power system to improve the overall stability and reliability. Further advancement in converter technologies such as power semiconductors has added new dimension in HVDC transmission, which encapsulates underground, offshore and voltage-stabilization applications. These applications have pushed further demand for the HVDC transmission.
HVDC transmission systems offer the best technical and economical long distance transmission solutions, integrating renewable generation, and stabilizing power networks. With its inherent technical properties and superior ability of control, HVDC transmission is a key component in the future energy system based on renewable energy sources. HVDC transmission is used for connecting offshore wind farms which are often placed far out at sea, because the wind conditions are more advantageous at such locations. If the distance to the grid on land exceeds a certain stretch, the only possible solution is use of HVDC - due to the technology’s low losses. HVDChas the ability to carry high voltage power over long distances with low transmission loss. It is believed that wind application will be dominant factor that will impact the HVDC transmission market the most.
The report showcases a detailed breakdown of the HVDC transmission market by the technology, configuration, component, applications,power rating and geographies. In the report, different technologies are discussed are line commutated converters and voltage source converters. The configuration includes back to back, monopolar, bipolar and multi-terminal. The HVDC’s component comprises of Thyristor, surge arrester, converter transformer, smoothing reactors, DC transmission circuit, harmonic filters, control and protection. The power rating market is categorized into below 500 MW, 501 MW – 1000 MW, 1001 MW – 1500, 1501 MW-2000 MW, above 2000 MW.
Some of the major companies dominating the global HVDC market are ABB (Switzerland) Siemens (Germany), Alstom (France), Toshiba (Japan), and others. ABB (Switzerland) and Siemens (Germany) are the key players of power generation and transmission market and it is found that these companies covers more than 80% of the overall market share in the HVDC transmission market.