Dublin, April 07, 2023 (GLOBE NEWSWIRE) -- The "Global High Voltage Direct Current Power Supply Market Size, Share & Industry Trends Analysis Report By Vertical, By Voltage, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global High Voltage Direct Current Power Supply Market size is expected to reach $5 billion by 2028, rising at a market growth of 6.9% CAGR during the forecast period.
Key Market Players
- Hitachi, Ltd. (Hitachi Energy Ltd.)
- Toshiba Corporation
- Siemens AG
- General Electric Company
- XP Power, Ltd.
- Hamamatsu Photonics K.K.
- Excelitas Technologies Corp.
- American Power Design, Inc.
- American High Voltage
- Nikken Sekkei Ltd.
High voltage direct current (HVDC) electric power supply systems employ direct current (DC) to transmit electric power. This is contrary to the more prevalent alternating current (AC) transmission systems. The HVDC power supply systems are also known as electrical superhighway or power superhighway.
HVDC facilitates the power transfer between AC transmission networks that are incompatible. A network can be stabilized against disruptions brought on by abrupt changes in power because the power flow over an HVDC link can be adjusted autonomously of the phase angle between load and source. Additionally, HVDC enables power to be transferred between grid systems that operate at various frequencies, like 50 and 60 Hz.
Enabling the transfer of power between traditionally incompatible networks enhances the stability and efficiency of each grid. The use of HVDC power supply is increasing owing to its remarkable characteristics, such as the low power consumption of the control mechanism and the rising demand for inexpensive, compact vacuum components.
However, the complexity of designing electric systems also rises with the extra feed-in modules produced by the surge in grid development requirements. As a result, the likelihood of partial or complete shortages - when energy consumption exceeds grid design requirements - is higher. By turning a switch or sending a remote control signal, a high voltage direct current power supply can instantly change the outgoing orientation, preventing power outages within those systems.
Market Growth Factors
Globally rising demand for electricity
Over the past few years, industrialization and urbanization have both greatly increased over the world. This has increased the demand for electricity around the world. In 2019, the total energy consumption of the world was recorded to be around 82.3 exajoule (EJ) or approximately 2.286 x 10? terawatt hour.
HVDC transmission systems are advantageous for use in urban settings where space is limited due to their small sizes. As the primary prospect in the market, Europe is building the first VSC-based multi-terminal HVDC link to increase power supply security and facilitate the transfer of wind energy generated on the island of Shetland.
Transmission of long-distance current with high efficiency
HVDC transmission systems guarantee minimal transmission losses. Compared to an AC overhead line, an HVDC transmission line typically has a transmission loss of 30% to 50% lower.
Only HVDC transmission makes it possible to transmit electricity over distances of more than 80 kilometers. Because they can serve as a firewall to stop the fault transmission between connected AC grids and prevent 'blackouts,' HVDC transmission networks are also well-liked. In addition, compared to HVAC towers, an HVDC transmission tower results in lower installation costs.
Market Restraining Factors
Issues with conversion, availability, switching, control, and maintenance of HVDCS
Due to the additional conversion equipment, HVDC systems are less dependable and have lower accessibility than alternating current (AC) systems. About 98.5% of single-pole systems are available, with about one-third of the downtime being unplanned due to defects.
The necessary converter stations are pricy and only have a small amount of overload capacity. Losses in converter stations may be greater at shorter transmission distances than those in an AC transmission system for the same distance. The savings in line construction costs and decreased line loss might not be enough to cover the cost of the converters. Because of all these factors, the growth of the market is hampered.
Scope of the Study
By Vertical
- Industrial
- Telecommunication
- Medical
- Oil & Gas
- Others
By Voltage
- >4000V
- 1,000-4000V
- < 1000V
For more information about this report visit https://www.researchandmarkets.com/r/vp8hyn
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