HVDC Transmission Systems Market in the UK: 7.23% YOY Growth Rate in 2022 | General Electric Co., Hitachi Ltd., Mitsubishi Electric Corp., Among Key Vendors | Technavio – QNT Press Release

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NEW YORK, Feb. 18, 2022 /PRNewswire/ — The HVDC Transmission Systems Market Report in UK is segmented by Type (subsea transmission, underground transmission, and overhead transmission) and Component (converter stations and transmission medium). The optimal solution for long-distance transmission is notably driving the market growth in the UK, although factors such as limited power ratings for IGBTs and issues with circuit breakers may impede the market growth.

Moreover, the market value is set to grow by USD 328.38 millionprogressing at a CAGR of 7.78% from 2021 to 2026- as per the latest report by Technavio.

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Key Segment Analysis

The high voltage direct current (HVDC) transmission systems market share growth in UK by the subsea transmission segment will be significant during the forecast period. The significant increase in the demand for renewable energy in the country will drive the demand for subsea transmission in the UK, which is enhancing the demand for subsea transmission systems.

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Key Market Drivers & Challenges:

Optimal solution for long-distance transmission power to boost the market growth

The increasing demand for power for commercial, industrial, and household activities has increased the need to develop a diverse energy generation portfolio. HVDC technology helps in transmitting a large voltage of power over long distances. The power loss during transmission is less than high voltage alternate current (HVAC) technology. Furthermore, HVDC systems can adapt any frequency and voltage as they are asynchronous. In addition, the HVDC systems also do not create any short-circuit current level and can be efficiently used in interconnecting the AC transmission systems. Such factors are fueling the growth of the market in focus during the forecast period.

Limited power ratings for IGBTs and issues with circuit breakers to hamper the market growth

In HVDC technology, semiconductors are an essential element in switching operations, as these operations are done using semiconductors or hybrid semiconductors. However, the main problem is switching operations in the HVDC circuit breaker. The circuit breakers need to have high switching capabilities, or the circuit breaker gets damaged, leading to electricity supply breakdown. The issues with …

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