The global HVDC Power Supply Market is expected to reach USD 3.56 billion by 2022, according to a new report by Grand View Research, Inc. These devices integrate easily with renewable or alternative energy sources such as photovoltaics, fuel cells, and wind power, and provide considerable avenues for industry growth. The emergence of the hybrid HVDC circuit technology that utilizes Voltage Source Converters (VSC), and is compact in design when compared to traditional design is anticipated to fuel product demand over the next seven years. Further, the HVDC supply industry has also witnessed the development of high power Insulated Gate Bipolar Transistors (IGBT) that has reduced the HVDC system size resulting in substantial economic benefits.
HVDC
supply enhance the reliability of an electrical system and is the only possible
solution available in the market today; which can be utilized in renewable
energy sources. The ability of these products to efficiently transmit bulk
power over long distance has significantly contributed to the development of
direct-drive wind turbine, which supports the sustainable development of the
current energy infrastructure.
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HVDC
Power Supply Market Report Highlights
- The
industrial segment accounted for over 40% of the overall revenue in 2014
and is estimated to grow at a CAGR exceeding 11% over the forecast period.
It can be ascribed to rapid industrialization in emerging countries, such
as India and China, along with rising demand for efficient power supply.
- The
telecommunication application segment is anticipated to witness healthy
growth and accounted for over 25% of the market in 2014. It can be primarily
attributed to the reliable and long-distance transmission with minimal
loss offered by these products. The rapid infrastructure development owing
to the widespread usage of the internet may also contribute significantly
towards the segment growth.
- Over 4,000 V
voltage segment accounted for more than 45% of the overall revenue in
2014. It may be primarily ascribed to the enhanced features such as low
output noise, creation of an automated high voltage test system, and
improved sourcing precision and measurement sensitivity provided by these
products.
- Asia Pacific
HVDC power supply market accounted for over 20% of the overall revenue
share in 2014, which may increase over the next seven years. Healthy
demand across the transmission grids owing to the ability of these
products to connect remotely located electricity generation plants is
expected to fuel the demand over the next seven years. Europe is also
projected to witness a significant growth owing to increasing emphasis on
the use of renewable energy resources in the region.
- The notable
companies in the market include ABB Ltd., Excelitas Technologies, General
Electric, Glassman Europe Ltd., Siemens AG, Spellman, General Electric,
UltraVolt, Inc., Toshiba Corporation, and Alstom SA. The leading industry
participants emphasize on quality control and testing, wherein
manufacturing activities are monitored right up to final testing to ensure
that the product is manufactured in conformance with specific customer
requirements and industry standards.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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