APAC’s HVDC Transmission System Market will Record an Impressive Growth in the Near Future
HVDC (High Voltage Direct Current) is considered to be a key technology in continuous power electronics development, presenting cost-effective opportunities for utilities to exploit. Power electronic apparatus support efficient management and optimised operations of electrical grids. Ever-growing progress of completely controlled high-voltage high power semiconductor technology is expected to impact immensely on development of the advanced power electronic apparatus. The technology of HVDC gives a reliable and an effective way for transmission of electrical power to long distances. HVDC transmission systems are useful for long distance transmission, bulk power delivery, asynchronous interconnections, and long submarine cable crossings. HVDC transmission systems are deemed ideal for connection of offshore wind farms to grids, as it involves transmission to long distances.
HVDC Transmission System- Beneficial for Supplying Power to Remote Areas
As compared to HVAC systems, HVDC transmission systems need fewer transmission lines, reducing spending and land required for installation of transmission systems. Several utility companies in Asia Pacific (APAC), therefore, are shifting to HVDC transmission systems, contributing to growth of deployment of HVDC transmission system in APAC. Governments of several economies across Asia Pacific are focusing on increasing the spending for constructing similar connections. This is expected to drive the deployment of high voltage direct current transmission systems in Asia Pacific in the near future, according to a report by Future Market Insights (FMI). The APAC HVDC transmission systems market is projected to register an impressive growth at 10.1% CAGR over the span of next nine years, as per FMI’s report.
It is beneficial to deploy HVDC transmission systems to supply power in the remote areas. FMI’s report states that deployment of high voltage direct current transmission systems is gaining significant prevalence, owing to the ability of undersea HVDC transmission systems being deployed for connection of remote areas, where power plants are not available. With the increasing efforts of governments of several countries in connecting underdeveloped areas to grid, the demand for deployment of high voltage direct current transmission systems is likely to witness a surge in the upcoming years.
India’s POWERGRID to receive HVDC Transmission System by Sumitomo and Siemens
A consortium between Sumitomo Electric Industries (Japan-based) and Siemens (German-based) has acquired a new order for delivering high voltage direct current transmission system to Power Grid Corporation of India, (POWERGRID). Combined order volume for Sumitomo Electric and Siemens approximately is US$ 520 Mn. The consortium has planned to install 200 km long ±320 KV high voltage direct current connection from Pugalur to Trichur, country’s first direct current link with voltage sourced converter technology, or, VSC technology. Pugalur in southern Tamil Nadu to Trichur in Kerala will be connected through this HVDC transmission system. All initiatives of the Ministry of Power of India will be able to achieve the ambitious grid programmes through latest innovations, for meeting the ever-increasing demand for power.
Subsea Deployment Type Segment to Exhibit a Relatively High CAGR in Japan Market for HVDC Transmission System
Subsea deployment is expected to gain an immense popularity in Japan’s high voltage direct current transmission systems market in the near future. It is anticipated in the FMI’s report that subsea deployment would register a higher CAGR in Japan’s market for HVDC transmission systems. Whereas, in terms of value, overhead deployment of HVDC transmission lines is likely to attain tremendous traction in Asia Pacific Excluding Japan’s market of HVDC transmission system.
