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Posted by Wesley on April 25, 2024 at 8:44am 0 Comments 0 Likes
Posted by Shabaz Sayyed on April 25, 2024 at 8:44am 1 Comment 0 Likes
HVDC Transmission Market Analysis
The Global HVDC Transmission Market size is projected to be worth USD 17,448.0 million by 2030.
Restraints
Short Circuits to act as Market Restraint
Short circuits in AC power system will act as market restraint over the forecast period. Besides, the complexity related to multi-terminal systems may also impede market growth.
Challenges
High Installation and Implementation Costs to act as Market Challenge
The high installation and implementation costs, standardization of HVDC systems, and low rate of adoption of HVDC technology may act as market challenge over the forecast period.
COVID-19 Analysis
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the HVDC transmission market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.
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Drivers
Opportunities
Strict Government Regulations to offer Robust Opportunities
The stringent government regulations about electricity transmission will offer robust opportunities for the market over the forecast period.
HVDC Transmission System Market Segmentation Overview:
By technology type:
By application type:
By configuration type:
By voltage rating type:
By Regions:
Regional Analysis
APAC to Dominate HVDC Transmission Market
The APAC region will domineer the HVDC transmission market over the forecast period. The development of power infrastructure, China making huge investments in renewable energy, implementation of latest UHVDC technology for power transmission, growing population, increasing power consumption, aging infrastructure, increased urbanization, construction of smart cities in emerging economies, growing industrialization, and increasing establishment of power plants are fuelling the global HVDC transmission market growth in this region.
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Key Players:
Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Landscape
5 Market Dynamics
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