BOULDER, Colo.--(BUSINESS WIRE)--Although alternating current (AC) lines have been the dominant form of electricity transmission for decades, the adoption of high voltage direct current (HVDC) transmission is growing worldwide. Up to twice as efficient as AC transmission, HVDC allows interconnection of regional systems that operate asynchronously, helping to mitigate instability issues that otherwise cause outages in AC transmission. Click to tweet: According to a recent report from Navigant Research, 110 new HVDC lines are planned or are currently under construction and will be completed worldwide by 2020.
“Growth in electricity demand, transmission system congestion, and grid instability are all helping drive new demand for HVDC transmission systems,” says Kristoffer Torvik, senior research analyst with Navigant Research. “Approximately 333 gigawatts (GW) of new HVDC transmission capacity will be added between 2013 and 2020, including nearly 200 GW in China alone.”
Helping to drive the expansion of this market is the increasing need for integration of new renewable resources, particularly offshore wind power. Several governments in Europe have established frameworks and even stipulated offshore wind targets. In turn, utilities are implementing aggressive plans for offshore wind development, creating a market demand for advanced, offshore HVDC solutions.
The report, “High-Voltage Direct Current Transmission Systems”, analyzes the global market for HVDC technologies, and provides an analysis of the market issues, including trends, drivers, challenges, opportunities, and regulatory factors, related to HVDC systems. An inventory of HVDC lines in construction or planned is used as a basis for the global capacity and revenue forecasts, which are segmented by converter type and region and extend through 2020. The report also examines the key technologies and roadmaps associated with HVDC systems, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “High-Voltage Direct Current Transmission Systems,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
