Dublin, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The "High Voltage Direct Current (HVDC) Power Supply - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
A detailed analysis of the High Voltage Direct Current (HVDC) Power Supply Market has revealed robust growth prospects. The market, which stood at US$3.2 billion in 2023, is anticipated to climb to a valuation of US$4.5 billion by the year 2030, registering an impressive compound annual growth rate (CAGR) of 5.1% from 2023 to 2030.
Key Drivers of the HVDC Power Supply Market
A surge in demand for efficient, long-distance power transmission systems coupled with the expanding integration of renewable energy sources propels this growth. HVDC technology's pivotal role in connecting offshore wind farms and other renewable energy producers to the main grid, is a primary factor that underscores the importance and potential of the market. Technological advancements, such as voltage-sourced converters (VSC) and innovations in semiconductor technologies, further invigorate the HVDC landscape, enhancing efficiency and reducing installation costs.
Market Segments Contributing to Industry Development
The market analysis segments the industry by components, deployment types, and applications. Among the components, converters lead in importance due to their critical role in AC to DC conversion. With respect to deployment types, point-to-point systems are dominating the current market trend, while renewable energy representation in application segments is increasing, highlighting the sector's growing relevance for HVDC technology adoption.
Key Insights and Regional Perspectives
Sub-segments such as Less Than 1,000 Volts, and 1,000-4,000 Volts Power Supplies are also expected to show notable growth rates. Regionally, the United States market, valued at $846.3 million in 2023, and China, anticipated to grow at a 7.5% CAGR and reach $971.4 million by 2030, are significant contributors to the global HVDC power supply market. Japan, Canada, Germany, and the Asia-Pacific also show promising growth trends.
Strategic Market Positioning
As the global energy landscape evolves, positioning within the HVDC power supply market becomes increasingly crucial. Industry players are keenly focused on harnessing the potential of HVDC technologies to cater to the need for efficient, long-range electricity transmission and to tap the growing renewable energy sector, ensuring leadership in sustainable energy solutions.
About the Global HVDC Power Supply Market Analysis
This analysis is an indispensable resource for those seeking a comprehensive understanding of the market. It provides an exhaustive examination of the global HVDC power supply sector, pinpointing critical trends, drivers, market segments, regional dynamics, and competitive landscapes, without highlighting customization or sales options. The report is a vital tool for stakeholders across the HVDC Power Supply landscape, from industry leaders to strategists and policymakers, aiming to make informed decisions and capitalize on emerging opportunities within this dynamic sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.2 Billion |
| Forecasted Market Value (USD) by 2030 | $4.5 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- ABB
- AHV
- American Power Design (APD)
- Applied Kilovolts (Exelis)
- Excelitas Technologies Corp.
- General Electric
- Glassman Europe Ltd.
- Hamamatsu
- Hi-Tek Power
- HVM Technology, Inc.
- Matsusada Precision, Inc.
- Nippon Telegraph and Telephone Corporation (NTT)
- Pico Electronics
- Siemens AG
- Spellman High Voltage Electronics Corp.
For more information about this report visit https://www.researchandmarkets.com/r/wdlm2f
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