The HVDC transmission market was valued at USD 6.79 Billion in 2016 and is expected to reach USD 11.52 Billion by 2023, at a CAGR of 7.31%. The increasing demand for cost-effective solutions for long distance power transmission and integration of VSC technology across grids to enable system security are the major factors that drives the HVDC transmission market.
Convertor stations expected to grow at a higher CAGR between 2017 and 2023
The converter station is expected to grow at the highest rate. This growth can be attributed to the rapidly growing market for valves and circuit breakers. The market for valves is expected to grow in the coming years due to the presence of insulated-gate bipolar transistor (IGBT) valves, which are majorly used in the voltage sourced converter (VSC) technology in HVDC projects. The increasing demand for VSC technology in HVDC projects is expected to fuel the growth of the market for valves present in converter stations.
HVDC transmission market for line commutate converter (LCC) technology expected to hold the largest share in 2017
An LCC station is ideal for high-power long distance transmission. Moreover, LCC station reduces power losses in the complete HVDC transmission systems. However, the LCC-based technology has its own limitations though it is widely used in HVDC transmission worldwide. The LCC-HVDC technology is used for submarine and underground transmission, asynchronous link between AC systems, and long distance bulk power transmission through overhead lines
CFE expects to receive bidding offers in August and the award and signing of the contract is scheduled for September.
Source: HVDC Transmission Market - Global Forecast to 2023. https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html
Efficient HVDC power lines eliminate the drawbacks of moving power across these long distances.
For large grids, HVDC lines provide an undeniable boon: electricity surpluses in one area can provide power to a nation’s farthest flung regions, reducing blackouts. HVDC can also balance out the intermittency of renewable energy. Wind and solar power are typically generated far from urban and industrial centers—by offshore wind farms anchored in turbulent seas or solar panels arrayed in isolated deserts.
Mexico's national electricity infrastructure will add eight new projects at $3.5 billion.
One of the works is the subsea HVDC line that will connect the isolated system of Baja California Sur to the national interconnected system (SIN). It is estimated that the project will start operating in 2021.
There is no better venue to nurture your important contacts and connections. The intimacy of the conference allows for personal re-connection that can naturally flow into your business.
Attend for only USD 1050 at the only HVDC Energy Highways conference in Mexico City in its second year!
The 2nd HVDC Energy Highways, held on October 24, 2018 in Mexico City, connects you with clean energy companies, transmission networks and HVDC projects in Mexico. Visit www.amgfirst.com/hvdc2018