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According to the International Market Research Institute, the Indian HVDC transmission system market will grow
at a CAGR of about 6.
2% from 2019 to 2024.
The major factors driving the market include growth in the renewable energy sector, rapid urbanization, and increasing
rural electrification.
On the other hand, the growing demand for distributed and remote power systems is likely to hamper the market growth
.
The report believes that the high-voltage DC overhead transmission system will be in India.
The HVDC market maintains a larger market share
.
There has been tremendous growth
in energy demand, generation capacity, transmission and distribution networks in India's power sector.
At the same time, rural electrification and increasing demand for reliable power supply are driving the market growth
of HVDC overhead transmission systems.
India's weak transmission and distribution infrastructure has been criticized for years
.
Although renewable energy generation is growing rapidly, weak transmission and distribution infrastructure has made it impossible for renewable energy to be connected to the grid, and other factors have made renewable energy already face development challenges
.
HVDC technology is at the forefront
of the emerging smart grid revolution.
It has become an economically viable long-distance transmission solution, capable of delivering abundant renewable energy power to developed regions
with high demand for electricity through HVDC transmission.
Because HVDC lines are better suited for long-distance transmission, transmission companies are increasingly using HVDC lines instead of AC lines in order to integrate renewable energy
.
From the perspective of manufacturers, the core technologies of the Indian HVDC transmission system market are mainly concentrated in foreign enterprises, including ABB, Siemens, General Electric, Prysman and Toshiba, and engineering companies include important domestic enterprises
such as the Indian Power Grid Corporation and Sterlite Power.
According to the International Market Research Institute, the Indian HVDC transmission system market will grow
at a CAGR of about 6.
2% from 2019 to 2024.
The major factors driving the market include growth in the renewable energy sector, rapid urbanization, and increasing
rural electrification.
On the other hand, the growing demand for distributed and remote power systems is likely to hamper the market growth
.
The report believes that the high-voltage DC overhead transmission system will be in India.
The HVDC market maintains a larger market share
.
There has been tremendous growth
in energy demand, generation capacity, transmission and distribution networks in India's power sector.
At the same time, rural electrification and increasing demand for reliable power supply are driving the market growth
of HVDC overhead transmission systems.
India's weak transmission and distribution infrastructure has been criticized for years
.
Although renewable energy generation is growing rapidly, weak transmission and distribution infrastructure has made it impossible for renewable energy to be connected to the grid, and other factors have made renewable energy already face development challenges
.
HVDC technology is at the forefront
of the emerging smart grid revolution.
It has become an economically viable long-distance transmission solution, capable of delivering abundant renewable energy power to developed regions
with high demand for electricity through HVDC transmission.
Because HVDC lines are better suited for long-distance transmission, transmission companies are increasingly using HVDC lines instead of AC lines in order to integrate renewable energy
.
From the perspective of manufacturers, the core technologies of the Indian HVDC transmission system market are mainly concentrated in foreign enterprises, including ABB, Siemens, General Electric, Prysman and Toshiba, and engineering companies include important domestic enterprises
such as the Indian Power Grid Corporation and Sterlite Power.
