The Latin America, Middle East and Africa HVDC Transmission Market would witness market growth of 8.8% CAGR during the forecast period (2023-2030).
High voltage direct current (HVDC) power systems utilize direct current (DC) to transmit large amounts of power over long distances. HVDC lines increase transmission line efficiency, enabling faster power transfer. The generated AC voltage is converted to DC at the transmission end of a combined AC and DC system. Above the break-even distance, HVDC transmission costs are less than those of HVAC. HVDC transmission networks have lower power losses than HVAC lines. HVDC is devoid of radiation and induction losses. HVDC lacks dielectric losses, which extends the life of its conductors.
In addition to the increased emphasis on power exchange between nations, offshore electricity transmission is growing in significance. The HVDC submarine power transmission system is an essential technology for the future development of transmission networks. HVDC transmission is the only option for transferring high electricity over great underwater distances. Furthermore, the increasing number of offshore initiatives, such as wind energy facilities and oil and gas exploration upstream projects, offer HVDC technology with new economic potential around the region.
The Middle East has experienced rapid population growth, urbanization, and industrialization, leading to a substantial increase in energy demand. HVDC technology efficiently transmits electricity over long distances, addressing the need for reliable and robust power transmission infrastructure. Several countries in the Middle East have initiated HVDC interconnection projects to link their power grids and enhance energy security. These elements will drive the growth of the market in this region.
The Brazil market dominated the LAMEA HVDC Transmission Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $295.3 million by 2030. The Argentina market is showcasing a CAGR of 9.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.5% during (2023 - 2030).
Based on Project Type, the market is segmented into Point-to-point (Monopolar Transmission Systems, and Bipolar Transmission Systems), Back-to-back, and Multi-terminal. Based on Technology, the market is segmented into Line Commutated Converter (LCC), Capacitor Commutated Converter (CCC), and Voltage Source Converter (VSC). Based on Application, the market is segmented into Bulk Power Transmission, Interconnecting Grids, and Infeed Urban Areas. Based on Component, the market is segmented into Converter Stations, Transmission Cables, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide HVDC Transmission Market is Projected to reach USD 16.5 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hitachi, Ltd., Mitsubishi Electric Corporation, Siemens Energy AG, General Electric Company, Prysmian Group, Toshiba Corporation, NKT Photonics A/S (NKT A/S), Nexans S.A., LS ELECTRIC CO., Ltd, and NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
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