HVDC

DC-DC Converter Market Size Worth USD 13.3 billion by 2031, at 6.8% CAGR| Report by Transparency Market Research Inc.

Retrieved on: 
Tuesday, November 21, 2023
HVDC, DC-DC, EVS, Electronics, Electric vehicle, Growth, VDC, Electric power, Electric motor

WILMINGTON, Del., Nov. 21, 2023 /PRNewswire/ -- The global DC-DC converter market stood at US$ 7.76 billion in 2023, and the global market is projected to reach US$ 13.3 billion in 2031. The DC-DC converter market is anticipated to expand at a CAGR of 6.8% between 2023 and 2031.

Key Points: 
  • Global DC-DC converter market to generate absolute dollar opportunity worth US$ 13.3 billion until 2031.
  • Global DC-DC converter market is valued at US$ 7.4 billion in 2022.
  • The DC-DC converter plays a crucial role by transforming the high-voltage DC from the battery into the lower voltage levels essential for these components.
  • DC-DC Converter Market Trucks Market: Key Players
    In March 2023, Bel Fuse, Inc. unveiled the RDT-6Y DC-DC converter series tailored for railway applications.

Aker Solutions awarded a contract for the Norfolk Vanguard East offshore wind project

Retrieved on: 
Tuesday, November 14, 2023
HVDC, Engineering, EPCI, NOK, Wind, Aker Solutions, Vattenfall, New Build

LYSAKER, Norway, Nov. 14, 2023 /PRNewswire/ -- Aker Solutions has been awarded a sizeable1 contract from Vattenfall for the Norfolk Vanguard East Offshore Wind Farm off the coast of Norfolk, UK.

Key Points: 
  • LYSAKER, Norway, Nov. 14, 2023 /PRNewswire/ -- Aker Solutions has been awarded a sizeable1 contract from Vattenfall for the Norfolk Vanguard East Offshore Wind Farm off the coast of Norfolk, UK.
  • The announcement follows the recent award for the Norfolk Vanguard West project, part of the Norfolk Offshore Wind Zone development in the United Kingdom.
  • The scope of work for Aker Solutions includes the engineering, procurement, construction and installation (EPCI) of the high-voltage, direct-current (HVDC) offshore platform.
  • We look forward to supporting Vattenfall to deliver one of the largest offshore wind zones in the world," said Sturla Magnus, Executive Vice President of New Build at Aker Solutions.

Aker Solutions awarded Limited Notice to Proceed for the next step of the Norfolk offshore wind project

Retrieved on: 
Wednesday, November 8, 2023
Aker Solutions, EPCI, Electricity, Engineering, HVDC, Renewable energy, NOK, Tunnel, New Build, Vattenfall

LYSAKER, Norway, Nov. 8, 2023 /PRNewswire/ -- Aker Solutions has been awarded a limited notice to proceed contract from Vattenfall for the Norfolk Vanguard West Offshore Wind Farm off the coast of Norfolk, UK.

Key Points: 
  • LYSAKER, Norway, Nov. 8, 2023 /PRNewswire/ -- Aker Solutions has been awarded a limited notice to proceed contract from Vattenfall for the Norfolk Vanguard West Offshore Wind Farm off the coast of Norfolk, UK.
  • Located more than 47 kilometers from the Norfolk coast and with an installed capacity of 1.4 gigawatts, Norfolk Vanguard West will be the first phase of Vattenfall's Norfolk Offshore Wind Zone, which also includes the Norfolk Vanguard East and Norfolk Boreas developments.
  • Once complete, the Norfolk Offshore Wind Zone will produce enough renewable electricity to power more than four million homes.
  • The Norfolk Vanguard West Offshore Wind Farm is subject to regulatory approvals and Vattenfall's final investment decision.

Hitachi Energy selected as preferred technology provider for the longest HVDC link in the UK

Retrieved on: 
Thursday, July 27, 2023
BAM, Eastern Green, Wind, Electricity, National Grid, HVDC, Transport, Electronics, VSC, SSEN, BAM Nuttall, KV, Electric power, Renewable energy

The energy transition requires a collaborative effort that can only be achieved with advanced technologies and new ways of working.

Key Points: 
  • The energy transition requires a collaborative effort that can only be achieved with advanced technologies and new ways of working.
  • In appointing Hitachi Energy as their preferred technology provider, SSEN Transmission and National Grid secure best-in-class technology and future production capacity in a rapidly growing market.
  • For Hitachi Energy, this enables investment in new production capacity and to undertake large-scale recruitment drives.
  • Hitachi Energy pioneered commercial HVDC technology almost 70 years ago and has delivered more than half of the world's HVDC projects.

Hitachi Energy passes 150 GW in HVDC links integrated into the power system, expands capacity to meet accelerating energy transition demand

Retrieved on: 
Tuesday, October 24, 2023
Digital, Vehicle registration plates of Nepal, OT, Hitachi, SF6, Dogger Bank, Champlain Hudson Power Express, Workforce, Carbon, Research and development, Wind, Electricity, Acquisition, Investment, R, Artificial intelligence, HVDC, IEA, Growth, Renewable energy, Electric power

The company has consistently expanded its capacity to meet accelerating demand driven by the clean energy transition.

Key Points: 
  • The company has consistently expanded its capacity to meet accelerating demand driven by the clean energy transition.
  • Since 2020, when Hitachi began its strategic investment, Hitachi Energy has increased its workforce by more than 8,000.
  • "Electricity will be the backbone of the entire energy system and will help to drive the clean energy transition.
  • Today’s announcement shows how we are enabling our customers to accelerate the development of the power grids that energy system requires," said Claudio Facchin, CEO of Hitachi Energy.

DOE Awards $50 Million to Minnesota Power to Increase Reliability and Resilience of Region’s Transmission Grid in Support of a Clean-Energy Future

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Wednesday, October 18, 2023
Environment, Climate Change, Contracts, Environmental Policy, Other Energy, Utilities, Sustainability, Alternative Energy, Energy, Defense, 89th Minnesota Legislature, U.S. Department of Energy, Office of Inspector General, Ageing, Security (finance), NYSE, Minnesota Public Utilities Commission, AC, Electric Bond and Share Company v. Securities and Exchange Commission, Wind, Electricity, Brattle Group, Quality of life, DNV, DOE, Use of Free and Open-Source Software (FOSS) in the U.S. Department of Defense, Minnesota Legislature, Electric power, Renewable energy, HVDC

“Investments in transmission are critical to the reliability and resiliency of the grid as we continue to build a carbon-free energy future and advance Minnesota Power’s EnergyForward strategy,” said Bethany Owen, ALLETE CEO.

Key Points: 
  • “Investments in transmission are critical to the reliability and resiliency of the grid as we continue to build a carbon-free energy future and advance Minnesota Power’s EnergyForward strategy,” said Bethany Owen, ALLETE CEO.
  • Commissioned in 1977, the HVDC transmission system has served Minnesota Power well in its more than four decades of operation.
  • Minnesota Power acquired the HVDC line in 2009 to reliably deliver nearly 500 megawatts of wind energy from its North Dakota wind sites to its customers in Minnesota.
  • Minnesota Power’s HVDC transmission line is one of only a handful of existing long-distance HVDC lines in the country.

High Voltage Direct Current (HVDC) Transmission Market to Reach $23.7 Billion, Globally, by 2032 at 8.4% CAGR: Allied Market Research

Retrieved on: 
Friday, October 20, 2023
PDF, HVDC, Transmission loss, Growth, VSC, AC, Transformers, LCC, Field line, Electrode, Table, Electric power

WILMINGTON, Del., Oct. 20, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "High Voltage Direct Current (HVDC) Transmission Market By Component (Converter Stations, Transmission Medium (Cables), Others), By Technology (Voltage Source Converters (VSC), Line Commutated Converters (LCC), Capacitor Commutated Converter (CCC)), By Transmission Type (Submarine, Overhead, Underground), By Application (Bulk Power Transmission, Interconnecting Grids, Infeed Urban Areas): Global Opportunity Analysis And Industry Forecast, 2023-2032." According to the report, the global high voltage direct current (HVDC) transmission industry was estimated at $10.6 billion in 2022 and is projected to reach $23.7 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.   

Key Points: 
  • This is because converter stations are a crucial component of modern electrical transmission systems, primarily used in high-voltage direct current (HVDC) transmission.
  • However, the others segment is projected to manifest the highest CAGR of 9.0% from 2023 to 2032.
  • Based on transmission type, the overhead segment held the highest market share in 2022, accounting for more than half of the global high voltage direct current (HVDC) transmission market revenue, and is projected to rule the roost by 2032.
  • The growth is attributed to the fact that overhead HVDC transmission is highly efficient for long-distance power transmission.

High Voltage Direct Current (HVDC) Transmission Market to Reach $23.7 Billion, Globally, by 2032 at 8.4% CAGR: Allied Market Research

Retrieved on: 
Friday, October 20, 2023
PDF, HVDC, Transmission loss, Growth, VSC, AC, Transformers, LCC, Field line, Electrode, Table, Electric power

WILMINGTON, Del., Oct. 20, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "High Voltage Direct Current (HVDC) Transmission Market By Component (Converter Stations, Transmission Medium (Cables), Others), By Technology (Voltage Source Converters (VSC), Line Commutated Converters (LCC), Capacitor Commutated Converter (CCC)), By Transmission Type (Submarine, Overhead, Underground), By Application (Bulk Power Transmission, Interconnecting Grids, Infeed Urban Areas): Global Opportunity Analysis And Industry Forecast, 2023-2032." According to the report, the global high voltage direct current (HVDC) transmission industry was estimated at $10.6 billion in 2022 and is projected to reach $23.7 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.   

Key Points: 
  • This is because converter stations are a crucial component of modern electrical transmission systems, primarily used in high-voltage direct current (HVDC) transmission.
  • However, the others segment is projected to manifest the highest CAGR of 9.0% from 2023 to 2032.
  • Based on transmission type, the overhead segment held the highest market share in 2022, accounting for more than half of the global high voltage direct current (HVDC) transmission market revenue, and is projected to rule the roost by 2032.
  • The growth is attributed to the fact that overhead HVDC transmission is highly efficient for long-distance power transmission.

UK - High Voltage Direct Current (HVDC) Transmission Systems Market to grow by USD 363.9 million during 2022-2027 | Increasing demand for power to drive the growth - Technavio

Retrieved on: 
Tuesday, October 10, 2023
Geography, Nexans, Motorcycle, Component, TCU, Hitachi, USD, ABB, Converter, Siemens, Fonar Corp. v. General Electric Co., HRTEM, Electricity, AC, SE, HVAC, Growth, Semiconductor, National Grid plc, Mitsubishi Electric, Balfour Beatty, HVDC, YOY, Subsea technology, Nature, Nanotechnology, Electric power, Beauty salon, Electric battery, Electronics

NEW YORK, Oct. 9, 2023 /PRNewswire/ -- The UK - high voltage direct current (HVDC) transmission systems market size is expected to grow by USD 363.9 million between 2022 and 2027.

Key Points: 
  • NEW YORK, Oct. 9, 2023 /PRNewswire/ -- The UK - high voltage direct current (HVDC) transmission systems market size is expected to grow by USD 363.9 million between 2022 and 2027.
  • The market is segmented by Component (Converter stations and Transmission medium) and Type (Subsea transmission, Underground transmission, and Overhead transmission).
  • The power loss during transmission is less than high voltage alternate current (HVAC) technology.
  • Growing demand for high-resolution transmission electron microscope (HRTEM) is the key factor driving the growth of the market.

HVDC Transmission Market worth $14.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Tuesday, October 3, 2023
Toshiba, Component, LCC, General Electric, NKT A/S, Mitsubishi Electric, DC, Electricity, NKT, AC, Open Rack, Ceramic capacitor, Carbon, Automation, Wind, Transmission, Hardware, Communication, Growth, Commercial, Region, Industrial, HVDC, Siemens Energy, Electric power, Software

Bulk power transmission to lead the HVDC transmission market during the forecast period.

Key Points: 
  • Bulk power transmission to lead the HVDC transmission market during the forecast period.
  • LCC-based transmission to account for the largest share of the HVDC transmission market from 2023 to 2028.
  • In Asia Pacific, China is the major market for HVDC transmission industry due to the constantly growing demand for power in the country.
  • High power quality reliability and stability of power transmission are the major requirements of the power industry in the region, which are driving the growth of the HVDC transmission market in this region.