HVDC Transmission uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links.
HVDC allows power transmission between unsynchronized AC transmission systems. Since the power flow through an HVDC link can be controlled independently of the phase angle between source and load, it can stabilize a network against disturbances due to rapid changes in power. HVDC also allows transfer of power between grid systems running at different frequencies, such as 50 Hz and 60 Hz. This improves the stability and economy of each grid, by allowing exchange of power between incompatible networks.
According to the new market research report “HVDC Transmission System - Global Market Insights and Sales Trends 2024”, published by QYResearch, the global HVDC Transmission System market size is projected to reach USD 15.59 billion by 2029, at a CAGR of 6.8% during the forecast period.
- Global HVDC Transmission System Market Size(US$ Million), 2018-2029
Source: QYResearch, "HVDC Transmission System - Global Market Insights and Sales Trends 2024”
- GlobalHVDC Transmission SystemTop 6 Players Ranking and Market Share（Based on data of 2021, Continually updated）
Source: QYResearch, "HVDC Transmission System - Global Market Insights and Sales Trends 2024”
The global key manufacturers of HVDC Transmission System include Hitachi ABB Power Grids , Siemens, Prysmian Group, XD Group, GE Grid Solution, etc. In 2022, the global top four players had a share approximately 55.0% in terms of revenue.
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