The [b]demand for long-distance HVDC transmission is increasing[/b] because of the rising need for energy in the developing countries such as India, China, and Africa; and efforts are being taken to tap more renewable sources of energy. Some of the major players in the HVDC transmission market are ABB Group (Switzerland), Siemens AG (Germany), Toshiba Corp. (Japan), General Electric (U.S), Hitachi Ltd. (Japan), and Nexans SA (France) among others.

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The [b]HVDC Transmission Market[/b] also comprises of various types of HVDC projects, such as point-to-point transmission project type, back-to-back transmission project type, and multi-terminal systems. The multi-terminal project type, is expected grow at the highest CAGR during the forecast period as compared to other project types. The European countries’ increasing focus on power generation from wind energy would further increase the market share for the multi-terminal configuration.

[b]Multi-terminal (MT) HVDC systems[/b] operate on VSC-based technology. Multi-terminal HVDC (MTDC) systems are one of the cost-effective ways to aggregate a huge amount of renewable energies through HVDC land cables, sea cables, and overhead lines on one side, and on the other side, connect it to the main AC system through a common DC network. In 2014, NR Electric officially commissioned ZhouShan multi-terminal VSC-HVDC project. It is the world’s first five-terminal VSC-HVDC transmission project with voltage level of ±200kV. The connection establishes an important link between the mainland and isolated islands, enabling power flows and enhancing grid reliability and security of electricity supplies. Some of the companies that installed MTDC systems include Rongxin Power Electronic (China), Toshiba (Tokyo), GE (U.S), and Tres Amigas (U.S). Multi-terminal HVDC systems are further segmented into two types: series multi-terminal systems and parallel multi-terminal systems.

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In series multi-terminal systems, all the convertor stations are connected in series in a ring shaped DC line. A section of the ring DC line cannot be disconnected without interrupting energy exchange between the AC systems. In a series multi-terminal connection, only one converter controls the current around a common rated voltage, and the power is controlled by the rest of the converters. The configuration is well-suited for CSC MTDC systems. However, the configuration has several drawbacks such as higher power losses and more complicated insulations. Most importantly, if one of the DC lines is disconnected due to fault occurrence, the current in the entire DC grid will be cut off; due to these disadvantages, series configuration is not recommended to be used.

In parallel multi-terminal systems, each converter station is connected to a single DC line and is in parallel with other converters. In parallel MT configurations, any DC system disconnections will result in significant changes in the flow of energy in the AC systems. VSC link is used in parallel multi-terminal systems since the direction of power can be changed through the reversal of current direction, and the voltage polarity at the DC side can remain unchanged. These capabilities are perfectly suited for constructing an MTDC system. VSC MTDC systems with parallel connected converters have great potentials to be used in the future bulk power systems.

The detail analysis of the HVDC transmission market provides the market size in terms of value (USD billion). The report provides an in-depth analysis of the market segmentation in terms of component, technology, project type, application and geography. The study also covers key players with their detailed profiles, competitive landscape, market dynamics, Porter's analysis, global adoption trends, and future growth potentials of HVDC transmission market.

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