The North America High Voltage Direct Current Power Supply Market should witness market growth of 6.5% CAGR during the forecast period (2022-2028).
The HVDC power supply technology has been garnering more favor because it encourages long-distance transmission and reduces energy expenditures. Current power transmission lines that use AC systems are presently being converted to DC systems to boost power transmitting limits. In addition, controlling the degree of fault current enteringthe system is possible throughHVDC power supply systems.
The industry is expected to increase significantly in the near future due to rising energy consumption and the development of the renewable energy sector. The line commutated converter (LCC) and the voltage source converter (VSC) are the two technologies used by the HVDC transmission system. The market is expected to be driven by rising demand for VSC-HVDCtransmission systems that stop fault propagation, complete flow control,and minimize network losses.
VSC-HVDC transmission systems play a vital role in increasing the usage of renewable energy internationally and improving grid stability. Additionally, as it aids in stabilizing present AC grids, VSC-HVDC transmission systems have seen a dramatic rise in utilization in recent years. Voltage stability, steady transients, as well as black start abilities are just a few benefits of VSC technology.
In North America, the offshore wind industry is starting to grow rapidly, and this trend is projected to continue. The region is now developing many sizable wind farms, which is anticipated to dramatically increase demand for undersea HVDC lines. The USDepartment of Energy (DoE)claims that the USoffshore wind energy project pipeline will reach a potential producing capacity of 40,083 megawatts by 2022. Since 2021, the 40,083 MW of offshore wind energy in the United States has increased by 13.5%. As a result, it is anticipated that rising offshore activity in the regionwill fuel the high voltage direct current power supply marketthroughout the forecast period.
The US market dominated the North America 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 $1,079.3 Million by 2028. The Canada market is poised to grow at a CAGR of 8.9% during (2022-2028). Additionally, The Mexico market should witness 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 U.S., Mexico, Canada, and Rest of North America.
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.
The HVDC power supply technology has been garnering more favor because it encourages long-distance transmission and reduces energy expenditures. Current power transmission lines that use AC systems are presently being converted to DC systems to boost power transmitting limits. In addition, controlling the degree of fault current enteringthe system is possible throughHVDC power supply systems.
The industry is expected to increase significantly in the near future due to rising energy consumption and the development of the renewable energy sector. The line commutated converter (LCC) and the voltage source converter (VSC) are the two technologies used by the HVDC transmission system. The market is expected to be driven by rising demand for VSC-HVDCtransmission systems that stop fault propagation, complete flow control,and minimize network losses.
VSC-HVDC transmission systems play a vital role in increasing the usage of renewable energy internationally and improving grid stability. Additionally, as it aids in stabilizing present AC grids, VSC-HVDC transmission systems have seen a dramatic rise in utilization in recent years. Voltage stability, steady transients, as well as black start abilities are just a few benefits of VSC technology.
In North America, the offshore wind industry is starting to grow rapidly, and this trend is projected to continue. The region is now developing many sizable wind farms, which is anticipated to dramatically increase demand for undersea HVDC lines. The USDepartment of Energy (DoE)claims that the USoffshore wind energy project pipeline will reach a potential producing capacity of 40,083 megawatts by 2022. Since 2021, the 40,083 MW of offshore wind energy in the United States has increased by 13.5%. As a result, it is anticipated that rising offshore activity in the regionwill fuel the high voltage direct current power supply marketthroughout the forecast period.
The US market dominated the North America 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 $1,079.3 Million by 2028. The Canada market is poised to grow at a CAGR of 8.9% during (2022-2028). Additionally, The Mexico market should witness 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 U.S., Mexico, Canada, and Rest of North America.
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
By Vertical
- Industrial
- Telecommunication
- Medical
- Oil & Gas
- Others
By Voltage
- >4000V
- 1,000-4000V
- < 1000V
By Country
- US
- Canada
- Mexico
- Rest of North America
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.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America High Voltage Direct Current Power Supply Market, by Vertical
1.4.2 North America High Voltage Direct Current Power Supply Market, by Voltage
1.4.3 North America High Voltage Direct Current Power Supply Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in High Voltage Direct Current Power Supply Market
Chapter 4. North America High Voltage Direct Current Power Supply Market by Vertical
4.1 North America Industrial Market by Country
4.2 North America Telecommunication Market by Country
4.3 North America Medical Market by Country
4.4 North America Oil & Gas Market by Country
4.5 North America Others Market by Country
Chapter 5. North America High Voltage Direct Current Power Supply Market by Voltage
5.1 North America >4000V Market by Country
5.2 North America 1,000-4000V Market by Country
5.3 North America < 1000V Market by Country
Chapter 6. North America High Voltage Direct Current Power Supply Market by Country
6.1 US High Voltage Direct Current Power Supply Market
6.1.1 US High Voltage Direct Current Power Supply Market by Vertical
6.1.2 US High Voltage Direct Current Power Supply Market by Voltage
6.2 Canada High Voltage Direct Current Power Supply Market
6.2.1 Canada High Voltage Direct Current Power Supply Market by Vertical
6.2.2 Canada High Voltage Direct Current Power Supply Market by Voltage
6.3 Mexico High Voltage Direct Current Power Supply Market
6.3.1 Mexico High Voltage Direct Current Power Supply Market by Vertical
6.3.2 Mexico High Voltage Direct Current Power Supply Market by Voltage
6.4 Rest of North America High Voltage Direct Current Power Supply Market
6.4.1 Rest of North America High Voltage Direct Current Power Supply Market by Vertical
6.4.2 Rest of North America High Voltage Direct Current Power Supply Market by Voltage
Chapter 7. Company Profiles
7.1 Hitachi, Ltd. (Hitachi Energy Ltd.)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Acquisition and Mergers:
7.1.5.3 Geographical Expansions:
7.2 Toshiba Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research and Development Expense
7.2.5 SWOT Analysis
7.3 Siemens AG
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.5.2 Acquisition and Mergers:
7.3.6 SWOT Analysis
7.4 General Electric Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.5 XP Power Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Product Line and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Acquisition and Mergers:
7.6 Hamamatsu Photonics K.K.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental Analysis
7.6.4 Research & Development Expense
7.7 Excelitas Technologies Corp.
7.7.1 Company Overview
7.8 American Power Design, Inc.
7.8.1 Company Overview
7.9 American High Voltage
7.9.1 Company Overview
7.10. Nikken Sekkei Ltd.
7.10.1 Company Overview
Companies Mentioned
- 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.
Methodology
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