New York, United States , May 22, 2023 (GLOBE NEWSWIRE) -- The Global High Voltage Direct Current Power Supply Market Size is to grow from USD 3.14 Billion in 2022 to USD 6.29 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
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A High Voltage Direct Current (HVDC) power supply is a type of electrical power transmission system that uses direct current (DC) to transmit electricity over long distances with minimal losses. It works by converting alternating current (AC) to DC and transmitting it at high voltages over a network of cables. HVDC power supplies are commonly used in applications such as interconnecting power grids, offshore wind farms, and long-distance transmission of renewable energy sources. They offer several advantages over traditional AC transmission systems, including lower transmission losses, increased power transfer capacity, and improved power quality.
Browse key industry insights spread across 200 pages with 125 market data tables and figures & charts from the report on "Global High Voltage Direct Current Power Supply Market Size, Share, and COVID-19 Impact Analysis, By Voltage (<1000V, 1000-4000V, and >4000V), By Application (Telecommunication, Medical, Industrial, Oil & Gas, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032)." Get Detailed Report Description Here:
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The 1000-4000V segment is expected to grow at a CAGR of around 7.4% during the forecast period
Based on voltage, the global high voltage direct current power supply market is segmented into <1000V, 1000-4000V, and >4000V. The 1,000 to 4,000 V segment is expected to grow in the forecast period in the High Voltage Direct Current (HVDC) power supply market due to the increasing demand for efficient power transmission systems for shorter distances. The segment includes transmission systems that operate at voltages between 1,000 and 4,000 V, which are suitable for medium-distance power transmission. The segment is expected to grow due to the increasing demand for interconnecting power grids, renewable energy integration, and the development of smart grids. Moreover, the segment offers several advantages over traditional AC transmission systems, including lower transmission losses and improved power quality.
The industrial segment is expected to grow at a higher CAGR of 8.1% during the forecast period
Based on application, the global high voltage direct current power supply market is segmented into telecommunication, medical, industrial, oil & gas, and others. The industrial segment is projected to expand further at the fastest growth rate in the High Voltage Direct Current (HVDC) power supply market due to the increasing demand for efficient power transmission systems in various industries, such as oil & gas, mining, and manufacturing. The segment is expected to grow due to the rising demand for reliable and stable power supply in industrial applications, especially in remote areas. Moreover, the integration of renewable energy sources, such as wind and solar power, into industrial applications is driving the deployment of HVDC systems, which offer several advantages over traditional AC transmission systems, including higher efficiency and lower transmission losses.
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Asia-Pacific is predicted to grow at a higher CAGR of around 8.5% over the forecast period.
Based on region, the Asia-Pacific region is expected to grow in the High Voltage Direct Current (HVDC) power supply market due to the increasing demand for electricity, rising investments in renewable energy projects, and the need to interconnect power grids. The region is home to some of the world's largest economies, such as China and India, which are rapidly expanding their power infrastructure to meet the growing energy demand. The governments in the region are promoting renewable energy sources and are investing in the deployment of HVDC systems to facilitate the integration of renewable energy into the grid.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global high voltage direct current power supply market include Siemens AG, General Electric Company, Toshiba Corporation, Mitsubishi Electric Corporation, Hitachi, Ltd., NR Electric Co., Ltd., XJ Electric Co., Ltd., LS Electric Co., Ltd., C-EPRI Electric Power Engineering Co., Ltd., Prysmian Group, Nexans SA, NKT A/S, ABB India Limited, Bharat Heavy Electricals Limited, Toshiba Transmission & Distribution Systems Asia Sdn. Bhd., and General Cable Technologies Corporation.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global high voltage direct current power supply market based on the below-mentioned segments:
High Voltage Direct Current Power Supply Market, By Voltage
- <1000V
- 1000-4000V
- >4000V
High Voltage Direct Current Power Supply Market, By Application
- Telecommunication
- Medical
- Industrial
- Oil & Gas
- Others
High Voltage Direct Current Power Supply Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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