High Voltage Direct Current Power Supply Market To Reach USD 7.5 Billion By 2032 Report By DataHorizzon Research

Advertisement

Increasing popularity of high voltage direct current convertors to drive organic growth.

Fort Collins, Colorado, March 14, 2024 (GLOBE NEWSWIRE) — The High Voltage Direct Current Power Supply Market size was valued at USD 3.8 Billion in 2023 and is expected to have a market size of USD 7.5 Billion by 2032 with a CAGR of 7.8%. 

The market for HVDC power supplies experienced growth in 2023, driven by a rising demand for efficient power supply solutions. HVDC systems are predominantly utilized for effective power transmission over extended distances. The adoption of HVDC power supply solutions, alongside innovative conversion methods, brings significant advantages to both suppliers and end-users.

Advertisement

Technological advancements in devices and components, along with the objectives of power systems, serve as catalysts for adopting HVDC power supply systems, positioning them as preferable alternatives to AC converters. These advancements encompass enhancements in control, conversion, and distribution facilitated by inventive conversion and semiconductor configurations, which operate efficiently. Consequently, the practical implementation of HVDC power supplies in various settings, such as warehouses, schools, parks, offices, buildings, and factories, is gaining traction. As a result, significant growth is anticipated in the high voltage direct current power supply market in the coming years.

The increasing transition toward renewable energy sources is projected to offer opportunities for growth to numerous market participants. As per the International Energy Agency (IEA), renewable energy sources are anticipated to overtake coal and become the primary source of electricity generation by 2025. By 2028, renewables are forecast to contribute 42% to electricity generation. Consequently, there is a growing need for electricity transmission over extended distances and at higher voltage levels to enhance transmission efficiency. These systems are adept at integrating with renewable or alternative energy sources like photovoltaics, fuel cells, and wind power.

Request Sample Report: 

https://bit.ly/3vhj9pK

Segmentation Overview:

The global high voltage direct current power supply market has been segmented into voltage, convertor type, application, and region. Based on voltage, the high voltage direct current power supply market segmentation comprises less than 1000V, 1000-4000V and more than 4000V. The more than 4000V segment held the largest market share in 2023. This can be attributed to the various advantages of this segment such highly reliable and efficient power conversion with minimal losses over very long distances.

Buy This Research Report: 

https://bit.ly/4ad3cA0

High Voltage Direct Current Power Supply Market Report Highlights:

  • The global high voltage direct current power supply market growth is anticipated at a CAGR of 7.8% by 2032.
  • High-voltage Direct Current is largely used for long-distance transmission with high efficiency. Its rising adoption is directly proportional to market growth.
  • The high-voltage direct current power supply market share for Asia Pacific was significantly high in 2023 owing to the highly developed telecommunication infrastructure coupled with a surge in new manufacturing facilities, which resulted in increasing demand for efficient power transmission. 
  • Some prominent High Voltage Direct Current Power Supply market report players include ABB Ltd., AHV, American Power Design, Excelitas Technologies Corporation, General Electric, Hamamatsu, Siemens AG, Toshiba Group, Mitsubishi Electric Corporation, and Hitachi, Ltd.

Industry Trends and Insights:

–          Several players are now focusing on grid modernization with objectives to enhance grid stability, and integrate renewable energy.

–          The need for intercontinental power transmission is expected to get more mileage owing to capacity of HVDC convertors to transmit at longer distances. 

Looking Exclusively For Region/Country Specific Report?

https://bit.ly/3wLmj5x

OR

Ask For Discount 

https://bit.ly/3wWBIjF

High Voltage Direct Current Power Supply Market Segmentation:

By Voltage: Less than 1000V, 1000-4000V, More than 4000V

By Convertor Type: Line commutated converters, voltage-sourced convertors, capacitor commentated convertors

By Application: Telecommunication, medical, industrial, oil & gas, others

By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

 

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

Contact:

Mail: [email protected]

Ph: +1-970-672-0390

Website: https://datahorizzonresearch.com/

Follow Us: LinkedIn 

 

Recent Publications

Lignofuels Market

Hydrogen Energy Storage Market

Sodium-ion Batteries Market

Solid State Transformer Market

U.S. Solid State Transformer Market

CONTACT: Mail: [email protected] Ph: +1-970-672-0390 Website: https://www.datahorizzonresearch.com 

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.