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.
High voltage direct current (HVDC) electric power supplysystems 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 itsremarkable 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.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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, and Nikken Sekkei Ltd.
High voltage direct current (HVDC) electric power supplysystems 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 itsremarkable 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.
COVID-19 Impact Analysis
Technology developments caused the industry to begin recovering after the slowdown of the pandemic. Important businesses startedimplementing plans to speed up market expansion. The development of the electric grid and higher power usagealso helpedthe sector. Given the accelerating industrialization and rising demand for power, efficient energy resource use is essential. As a result, adopting clean as well as emission-free energy sources, like the transmission of power via HVDC systems, has become popular. Globally, new projects for renewable energy transmissionusing HVDC power supplies are also being approved. As a result, the usage of power in industry, households, and businesses has all increased.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 10⁴ 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 faulttransmission 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 systemfor 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.Voltage Outlook
Based on voltage, the high voltage direct current power supply market is categorized into < 1000V, 1000-4000V, and >4000V. The 1000-4000V segment procured a considerable growth rate in the high voltage direct current power supply market in 2021. This voltage range provides cheaper costs compared to goods are the primary factors responsible for the growth of the segment. Additionally, the 1000-4000V HVDC lines can supply power across medium-to-long distances.Vertical Outlook
On the basis of Vertical, the high voltage direct current power supply market is divided into telecommunication, medical, industrial, oil & gas, and others. The industrial segment acquired the largest revenue share in the high voltage direct current power supply market in 2021. The increased demand for HVDC power supplies in allied industries like equipment manufacturers is to blame for this. The need for HVDC within the numerousindustrial application category may be sparked by rapid industrialization, particularly in growing countries like India and China, together with government intentions to build HVDCconverter infrastructure.Regional Outlook
Based on region, the high voltage direct current power supply market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured the maximum revenue share in the high voltage direct current power supply market in 2021. Due to the existence of government regulations encouraging the adoption of renewable energy sources as well as energy efficiency, the region will continue to have a leading position during the projected period. The expansion of the region will also be supported by new rules intended to create a reliable energy supply to meetthe increasing demand for electricity.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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, and Nikken Sekkei Ltd.
Strategies Deployed in High Voltage Direct Current Power Supply Market
- Jun-2022: Hitachi Energy joined hands with Petrofac, a foremost international service provider. This collaboration aimed to deliver joint grid integration and supporting infrastructure to sustain the quickly developing offshore wind market. Additionally, the collaboration includes the collection of high-voltage alternating current (HVAC) and high-voltage direct current (HVDC) solutions.
- Mar-2022: Hitachi Energy came into a partnership with Aker BP, the Norwegian oil and gas investigation and production enterprise. Through this partnership, Hitachi Energy offered a solution including a new grid connection to house the STATCOM, thyristor-controlled series capacitors, shunt reactors, and gas-insulated switches. Moreover, the solution would also expand the information abilities of a current 420 kV mainland grid connection with a new gas-insulated power transformer and switchgear.
- Oct-2021: Hitachi Energy expanded its geographical footprint by establishing Bland, Virginia manufacturing facility, the leading producer of dry-type transformers in North America. The collaboration with the Commonwealth of Virginia, the development has delivered additional production capability, adding the installation of state-of-the-art technology to sustain new manufacturing abilities.
- Sep-2021: Siemens AG and Sumitomo Electric Industries, Ltd., a manufacturer of electric wire and optical fiber cables, came into an agreement with Greenlink Interconnector Limited, a subsea and underground electricity interconnector linking the power markets in Ireland and Great Britain. Under this agreement, Siemens AG would provide the engineering, design, production, procurement, commissioning, and construction of a high-voltage direct current (HVDC) subsea/underground electricity interconnector cable. Moreover, Siemens AG would be delighted to add this project to its proven track record and successful portfolio.
- Mar-2021: Siemens AG took over C&S Electric, a manufacturer of electrical equipment & exports. Through this acquisition, Siemens AG seeks to acquire access to the Indian market and create an export hub for providing low-voltage products to the international market. Furthermore, the acquisition consists of low-voltage and minimum voltage busbars, low-voltage switchgear components and panels, and metering devices businesses of C&S Electric.
- Sep-2020: Hitachi completed the acquisition of Pioneer Solutions, a provider of industry-leading front-to-back-office Commodities/Energy Trading and Risk Management solutions. Through this acquisition, Hitachi ABB Power Grids would expand its current Energy Portfolio Management offering complete new value for energy market players who trade, barrier risk, and trail emission and renewable energy recognition for electricity and other entities.
- Jul-2020: GE Renewable Energy’s Grid Solutions signed an agreement with Sembcorp Marine, a Shipbuilding and repairing company. Under this agreement, GE Renewable Energy’s Grid Solutions would be delivering the latest system for Sofia which is one of the world’s largest offshore wind farm projects, located on Dogger Bank. Moreover, GE’s Grid Solutions would be accountable for the procurement, engineering, construction, and installation of two HVDC converter stations.
- Jan-2020: XP Power Ltd took over EMCO High Voltage Corporation, a designer and manufacturer of high-voltage power modules. Through this acquisition, XP Power Ltd would be able to deliver its current customers with a complete product offering in high voltage technologies which is a market segment with robust demand fundamentals.
- May-2018: XP Power Ltd acquired Glassman High Voltage Inc., a US-based designer, and manufacturer of high voltage, high power, and power supplies. Through this acquisition, XP Power Ltd would be able to deliver a comprehensive portfolio from miniaturized low-power modules to high-power rack mount high-voltage solutions. Moreover, XP Power would extend and develop high voltage and high power abilities to meet its product offering and extend the focused market.
- Feb-2018: GE Power signed an agreement with Korea Electric Power Corporation (KEPCO), the largest electric utility in South Korea. Under this agreement, GE Power would bring 4 GW of power to Seoul’s metropolitan area. Moreover, GE Power would provide a 4 GW HVDC transmission link from the power complex situated East of South Korea to Seoul’s metropolitan area constitutes around 40% of global Korean energy demand. GE and KAPES would develop and deliver the overall HVDC system.
Scope of the Study
By Vertical
- Industrial
- Telecommunication
- Medical
- Oil & Gas
- Others
By Voltage
- >4000V
- 1,000-4000V
- < 1000V
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global High Voltage Direct Current Power Supply Market, by Vertical
1.4.2 Global High Voltage Direct Current Power Supply Market, by Voltage
1.4.3 Global High Voltage Direct Current Power Supply Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in High Voltage Direct Current Power Supply Market
Chapter 4. Global High Voltage Direct Current Power Supply Market by Vertical
4.1 Global Industrial Market by Region
4.2 Global Telecommunication Market by Region
4.3 Global Medical Market by Region
4.4 Global Oil & Gas Market by Region
4.5 Global Others Market by Region
Chapter 5. Global High Voltage Direct Current Power Supply Market by Voltage
5.1 Global >4000V Market by Region
5.2 Global 1,000-4000V Market by Region
5.3 Global < 1000V Market by Region
Chapter 6. Global High Voltage Direct Current Power Supply Market by Region
6.1 North America High Voltage Direct Current Power Supply Market
6.1.1 North America High Voltage Direct Current Power Supply Market by Vertical
6.1.1.1 North America Industrial Market by Country
6.1.1.2 North America Telecommunication Market by Country
6.1.1.3 North America Medical Market by Country
6.1.1.4 North America Oil & Gas Market by Country
6.1.1.5 North America Others Market by Country
6.1.2 North America High Voltage Direct Current Power Supply Market by Voltage
6.1.2.1 North America >4000V Market by Country
6.1.2.2 North America 1,000-4000V Market by Country
6.1.2.3 North America < 1000V Market by Country
6.1.3 North America High Voltage Direct Current Power Supply Market by Country
6.1.3.1 US High Voltage Direct Current Power Supply Market
6.1.3.1.1 US High Voltage Direct Current Power Supply Market by Vertical
6.1.3.1.2 US High Voltage Direct Current Power Supply Market by Voltage
6.1.3.2 Canada High Voltage Direct Current Power Supply Market
6.1.3.2.1 Canada High Voltage Direct Current Power Supply Market by Vertical
6.1.3.2.2 Canada High Voltage Direct Current Power Supply Market by Voltage
6.1.3.3 Mexico High Voltage Direct Current Power Supply Market
6.1.3.3.1 Mexico High Voltage Direct Current Power Supply Market by Vertical
6.1.3.3.2 Mexico High Voltage Direct Current Power Supply Market by Voltage
6.1.3.4 Rest of North America High Voltage Direct Current Power Supply Market
6.1.3.4.1 Rest of North America High Voltage Direct Current Power Supply Market by Vertical
6.1.3.4.2 Rest of North America High Voltage Direct Current Power Supply Market by Voltage
6.2 Europe High Voltage Direct Current Power Supply Market
6.2.1 Europe High Voltage Direct Current Power Supply Market by Vertical
6.2.1.1 Europe Industrial Market by Country
6.2.1.2 Europe Telecommunication Market by Country
6.2.1.3 Europe Medical Market by Country
6.2.1.4 Europe Oil & Gas Market by Country
6.2.1.5 Europe Others Market by Country
6.2.2 Europe High Voltage Direct Current Power Supply Market by Voltage
6.2.2.1 Europe >4000V Market by Country
6.2.2.2 Europe 1,000-4000V Market by Country
6.2.2.3 Europe < 1000V Market by Country
6.2.3 Europe High Voltage Direct Current Power Supply Market by Country
6.2.3.1 Germany High Voltage Direct Current Power Supply Market
6.2.3.1.1 Germany High Voltage Direct Current Power Supply Market by Vertical
6.2.3.1.2 Germany High Voltage Direct Current Power Supply Market by Voltage
6.2.3.2 UK High Voltage Direct Current Power Supply Market
6.2.3.2.1 UK High Voltage Direct Current Power Supply Market by Vertical
6.2.3.2.2 UK High Voltage Direct Current Power Supply Market by Voltage
6.2.3.3 France High Voltage Direct Current Power Supply Market
6.2.3.3.1 France High Voltage Direct Current Power Supply Market by Vertical
6.2.3.3.2 France High Voltage Direct Current Power Supply Market by Voltage
6.2.3.4 Russia High Voltage Direct Current Power Supply Market
6.2.3.4.1 Russia High Voltage Direct Current Power Supply Market by Vertical
6.2.3.4.2 Russia High Voltage Direct Current Power Supply Market by Voltage
6.2.3.5 Spain High Voltage Direct Current Power Supply Market
6.2.3.5.1 Spain High Voltage Direct Current Power Supply Market by Vertical
6.2.3.5.2 Spain High Voltage Direct Current Power Supply Market by Voltage
6.2.3.6 Italy High Voltage Direct Current Power Supply Market
6.2.3.6.1 Italy High Voltage Direct Current Power Supply Market by Vertical
6.2.3.6.2 Italy High Voltage Direct Current Power Supply Market by Voltage
6.2.3.7 Rest of Europe High Voltage Direct Current Power Supply Market
6.2.3.7.1 Rest of Europe High Voltage Direct Current Power Supply Market by Vertical
6.2.3.7.2 Rest of Europe High Voltage Direct Current Power Supply Market by Voltage
6.3 Asia Pacific High Voltage Direct Current Power Supply Market
6.3.1 Asia Pacific High Voltage Direct Current Power Supply Market by Vertical
6.3.1.1 Asia Pacific Industrial Market by Country
6.3.1.2 Asia Pacific Telecommunication Market by Country
6.3.1.3 Asia Pacific Medical Market by Country
6.3.1.4 Asia Pacific Oil & Gas Market by Country
6.3.1.5 Asia Pacific Others Market by Country
6.3.2 Asia Pacific High Voltage Direct Current Power Supply Market by Voltage
6.3.2.1 Asia Pacific >4000V Market by Country
6.3.2.2 Asia Pacific 1,000-4000V Market by Country
6.3.2.3 Asia Pacific < 1000V Market by Country
6.3.3 Asia Pacific High Voltage Direct Current Power Supply Market by Country
6.3.3.1 China High Voltage Direct Current Power Supply Market
6.3.3.1.1 China High Voltage Direct Current Power Supply Market by Vertical
6.3.3.1.2 China High Voltage Direct Current Power Supply Market by Voltage
6.3.3.2 Japan High Voltage Direct Current Power Supply Market
6.3.3.2.1 Japan High Voltage Direct Current Power Supply Market by Vertical
6.3.3.2.2 Japan High Voltage Direct Current Power Supply Market by Voltage
6.3.3.3 India High Voltage Direct Current Power Supply Market
6.3.3.3.1 India High Voltage Direct Current Power Supply Market by Vertical
6.3.3.3.2 India High Voltage Direct Current Power Supply Market by Voltage
6.3.3.4 South Korea High Voltage Direct Current Power Supply Market
6.3.3.4.1 South Korea High Voltage Direct Current Power Supply Market by Vertical
6.3.3.4.2 South Korea High Voltage Direct Current Power Supply Market by Voltage
6.3.3.5 Singapore High Voltage Direct Current Power Supply Market
6.3.3.5.1 Singapore High Voltage Direct Current Power Supply Market by Vertical
6.3.3.5.2 Singapore High Voltage Direct Current Power Supply Market by Voltage
6.3.3.6 Malaysia High Voltage Direct Current Power Supply Market
6.3.3.6.1 Malaysia High Voltage Direct Current Power Supply Market by Vertical
6.3.3.6.2 Malaysia High Voltage Direct Current Power Supply Market by Voltage
6.3.3.7 Rest of Asia Pacific High Voltage Direct Current Power Supply Market
6.3.3.7.1 Rest of Asia Pacific High Voltage Direct Current Power Supply Market by Vertical
6.3.3.7.2 Rest of Asia Pacific High Voltage Direct Current Power Supply Market by Voltage
6.4 LAMEA High Voltage Direct Current Power Supply Market
6.4.1 LAMEA High Voltage Direct Current Power Supply Market by Vertical
6.4.1.1 LAMEA Industrial Market by Country
6.4.1.2 LAMEA Telecommunication Market by Country
6.4.1.3 LAMEA Medical Market by Country
6.4.1.4 LAMEA Oil & Gas Market by Country
6.4.1.5 LAMEA Others Market by Country
6.4.2 LAMEA High Voltage Direct Current Power Supply Market by Voltage
6.4.2.1 LAMEA >4000V Market by Country
6.4.2.2 LAMEA 1,000-4000V Market by Country
6.4.2.3 LAMEA < 1000V Market by Country
6.4.3 LAMEA High Voltage Direct Current Power Supply Market by Country
6.4.3.1 Brazil High Voltage Direct Current Power Supply Market
6.4.3.1.1 Brazil High Voltage Direct Current Power Supply Market by Vertical
6.4.3.1.2 Brazil High Voltage Direct Current Power Supply Market by Voltage
6.4.3.2 Argentina High Voltage Direct Current Power Supply Market
6.4.3.2.1 Argentina High Voltage Direct Current Power Supply Market by Vertical
6.4.3.2.2 Argentina High Voltage Direct Current Power Supply Market by Voltage
6.4.3.3 UAE High Voltage Direct Current Power Supply Market
6.4.3.3.1 UAE High Voltage Direct Current Power Supply Market by Vertical
6.4.3.3.2 UAE High Voltage Direct Current Power Supply Market by Voltage
6.4.3.4 Saudi Arabia High Voltage Direct Current Power Supply Market
6.4.3.4.1 Saudi Arabia High Voltage Direct Current Power Supply Market by Vertical
6.4.3.4.2 Saudi Arabia High Voltage Direct Current Power Supply Market by Voltage
6.4.3.5 South Africa High Voltage Direct Current Power Supply Market
6.4.3.5.1 South Africa High Voltage Direct Current Power Supply Market by Vertical
6.4.3.5.2 South Africa High Voltage Direct Current Power Supply Market by Voltage
6.4.3.6 Nigeria High Voltage Direct Current Power Supply Market
6.4.3.6.1 Nigeria High Voltage Direct Current Power Supply Market by Vertical
6.4.3.6.2 Nigeria High Voltage Direct Current Power Supply Market by Voltage
6.4.3.7 Rest of LAMEA High Voltage Direct Current Power Supply Market
6.4.3.7.1 Rest of LAMEA High Voltage Direct Current Power Supply Market by Vertical
6.4.3.7.2 Rest of LAMEA High Voltage Direct Current Power Supply Market by Voltage
Chapter 7. Company Profiles
7.1 Hitachi, Ltd. (Hitachi Energy Ltd.)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Acquisition and Mergers:
7.1.5.3 Geographical Expansions:
7.2 Toshiba Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research and Development Expense
7.2.5 SWOT Analysis
7.3 Siemens AG
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.5.2 Acquisition and Mergers:
7.3.6 SWOT Analysis
7.4 General Electric Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.5 XP Power Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Product Line and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Acquisition and Mergers:
7.6 Hamamatsu Photonics K.K.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.6.4 Research & Development Expense
7.7 Excelitas Technologies Corp.
7.7.1 Company Overview
7.8 American Power Design, Inc.
7.8.1 Company Overview
7.9 American High Voltage
7.9.1 Company Overview
7.10. Nikken Sekkei Ltd.
7.10.1 Company Overview
Companies Mentioned
- 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.
Methodology
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