Asia Pacific High Voltage Direct Current Power Supply Market Size, Share & Industry Trends Analysis Report By Vertical (Industrial, Telecommunication, Medical, Oil & Gas and Others), By Voltage (>4000V, 1,000-4000V and <1000V), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific High Voltage Direct Current Power Supply Market would witness market growth of 7.3% CAGR during the forecast period (2022-2028).
HVDC links can be fully controlled, unlike AC lines. As a result, the line operator or owner can control the power flow over the line, as well as the voltages available at the terminals, in the case of VSC HVDC. As such, the HVDC line enables the operator to modify the system in accordance with his or her goals. For example, loss reduction, maintaining a fixed transfer, limiting the effects of contingencies, etc., are all potential goals.
On top of HVDC power supply lines, a modern energy system that utilizes renewable resources is being developed and put into operation. Systems for producing electricity from solar and wind are examples of renewable energy sources, but they are also incredibly unstable and located far away. Therefore, the most effective and efficient way to transfer electricity is over long distances, which helps the ever-evolving HVDC system advance in the renewable power economy.
Australia also revealed intentions to send solar energy to Singapore over an offshore route in October 2021. Through the project, the construction of the Australia-Asia Power Link (AAPL) is taking place, which is the largest solar energy system in the world. Darwin and Singapore will get a high-quality, dispatchable renewable energy supply from the AAPL, which consists of storage, solar, and an HVDC transmission network. Construction is anticipated to begin in 2023, with Darwin and Singapore receiving solar energy in 2026 and 2027, respectively. Therefore, the increasing number of projects throughout the region involving HVDC are boosting the growth of the regional market.
The China market dominated the Asia Pacific High Voltage Direct Current Power Supply Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $430.8 Million by 2028. The Japan market is estimated to grow a CAGR of 6.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8% during (2022 - 2028).
Based on Vertical, the market is segmented into Industrial, Telecommunication, Medical, Oil & Gas and Others. Based on Voltage, the market is segmented into >4000V, 1,000-4000V and <1000V. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide High Voltage Direct Current Power Supply Market is Projected to reach USD 5 Billion by 2028, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hitachi, Ltd. (Hitachi Energy Ltd.), Toshiba Corporation, Siemens AG, General Electric Company, XP Power, Ltd., Hamamatsu Photonics K.K., Excelitas Technologies Corp., American Power Design, Inc., American High Voltage, and Nikken Sekkei Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Oil & Gas
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Hitachi, Ltd. (Hitachi Energy Ltd.)
- Toshiba Corporation
- Siemens AG
- General Electric Company
- XP Power, Ltd.
- Hamamatsu Photonics K.K.
- Excelitas Technologies Corp.
- American Power Design, Inc.
- American High Voltage
- Nikken Sekkei Ltd.
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