Demand for High Voltage Direct Current (HVDC) Power Supply and Impact of COVID-19……..


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.
The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.
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.
The global HVDC power supply market is expected to reach USD 3.56 billion by 2022. High energy efficiency, long distance transmission, and low price are a few benefits expected to contribute substantially towards industry growth over the forecast period. The improved design flexibility and decrease in the installation cost are also anticipated to spur demand.
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Further key findings from the report suggest:
·         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.
The surge in demand for grid expansion results in an increase in the complexity of electric systems owing to a rise in the number of feed-in nodes. This further magnifies the probability of partial and total blackouts, which occurs when supply flow exceeds the design criteria. HVDC has the ability to automatically reverse the output polarity with the flip of a remote or switch control signal, avoiding blackouts in these systems, which are also anticipated to fuel product demand.
The complexity of designing and operating multi-terminal HVDC system may pose a challenge to growth. In addition, the growing need for the installation of expensive filter-compensation units to overcome the issues that arise from reactive power consumption may further hamper growth over the next seven years.
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The voltage segment comprises less than 1,000 V, 1,000-4,000 V and more than 4,000 V categories. The more than 4,000 V category accounted for over 45% of the overall revenue in 2014, which is estimated to increase over the next seven years. This may be largely attributed to the increasing demand for offshore installations such as oil & gas platforms coupled with growing telecommunication infrastructure, which makes use of this voltage range to efficiently deliver adequate supply to desired locations.
The 1,000-4,000V category accounted for over 30% of the revenue share in 2014. This can be ascribed to benefits such as lower cost in comparison with the more than 4,000V products along with the ability to transmit power over medium-to-long distances. The less than 1,000V category is estimated to witness a growth exceeding a CAGR of 7.0% over the next seven years.
Grand View Research has segmented the global high voltage direct current power supply market on the basis of application, voltage:
HVDC Power Supply Voltage Outlook (Revenue, USD Million; 2012 - 2022)
·         <1,000V
·         1,000-4,000V
·         >4,000V 
HVDC Power Supply Application Outlook (Revenue, USD Million; 2012 - 2022)
·         Telecommunication
·         Medical
·         Industrial
·         Oil & Gas
·         Others
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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