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Japan High Voltage Direct Current (HVDC) Transmission Systems Market - Growth, Trends, And Forecasts (2020 - 2025)

Published on: Jun 2020 | From USD $3250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 90

The Japanese high voltage direct current (HVDC) transmission systems market is expected to register a CAGR of more than 4.5% during the forecast period of 2020 Ð 2025. The major factors driving the market include the growing renewable energy sector, rapid urbanization, and increasing rural electrification. On the other hand, the growing distributed and remote power systemsÕ demand is expected to hinder the market growth.

- The submarine HVDC transmission system segment is expected to account for the largest share in the Japanese HVDC transmission systems market, by transmission type, on account of the upcoming development projects driven by the increasing focus on power trading between countries.
- Rural electrification is presenting itself as a market opportunity, with increasing demand for reliable power supply in the rural areas.

Key Market Trends

Increasing Demand for Submarine HVDC Transmission Systems

- The submarine transmission of electricity is gaining importance on account of increasing focus on power trading between countries. The HVDC submarine power transmission system is considered as a key technology for the development of future power transmission networks.
- It is also the only solution available for the transfer of high power across long subsea distances. For these reasons, HVDC lines are preferred for interconnecting offshore wind plants worldwide.
- In the HVDC transmission system, the submarine power cables can be less costly, especially on a long link where the capacitance of the cable requires too much additional charging current.
- The Russia-Japan Energy Bridge project valued at USD 6 billion, which is expected to start in 2020, is under discussion on a technical and financial level between the two countries and will see the construction of a coal-fired power plant with a capacity of up to 1,050 MW in the central part of Sakhalin (this coal-fired plant may also be supplemented with a hydropower plant). Generated electricity will then be transmitted via a D/C power line to La Perouse Strait. From here, an underwater power line is likely to transmit the electricity to Japan.
- In May 2019, Sumitomo Electric completed the construction of the Hokuto-Imabetsu HVDC Link with 250-kV HVDC XLPE cable, which is likely to increase transmission capacity between Honshu (Japan's main island) and Hokkaido (Japan's northern island), along with the existing circuit for the Hokkaido-Honshu DC Interconnector that commenced commercial operation in 2012. The route length of this HVDC cable system is the longest in the world for an inter-strait tunnel.
- Therefore, factors, such as the increasing number of offshore wind farms, along with inter-connections between countries and islands through submarine cables, are expected to increase the demand for submarine transmission systems over the forecast period.

The Growing Renewable Energy Sector is Driving the Market Demand

- The development of renewable energy is a trend in the current scenario. Most of the renewable installed capacity is located far away from the load centers. HVDC is essential for remote projects, as cable lengths of approximately 80 km or more usually require HVDC transmission technology.
- As the HVDC lines are better suited for long-distance power transmission, power transmission companies are increasingly using HVDC over HVAC transmission lines, to integrate the renewable power capacity.
- The cost of renewable power generation is continuously declining. The economics of renewables has improved dramatically, with both wind and solar costs going down by 50% in just two years. The major reasons behind the falling generation costs are innovations in the manufacturing and installation of PV power generation, improvement in wind turbine materials and designs, intense competition, and economies of scale.
- Due to lower costs, the renewable energy sector is becoming competitive and, in some cases, cheaper than conventional power plants.
- The renewable energy consumption for Japan in 2018 was 25.4 million metric ton oil equivalent (mtoe), and the renewable power generation was nearly 112.1 terawatt hours (TWh).
- The demand for reliable power supply and the distance between energy demand center and power generation center, along with growing renewable energy generation capability of the nation, may drive the market demand for HVDC transmission systems in the coming years.

Competitive Landscape

The market for high voltage direct current (HVDC) transmission systems in Japan is moderately consolidated. Some of the major players in this market include ABB Ltd, Siemens AG, Toshiba Corporation, General Electric Company, and Mitsubishi Electric Corporation.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast, in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE ANALYSIS

5 MARKET SEGMENTATION
5.1 Transmission Type
5.1.1 Submarine HVDC Transmission System
5.1.2 HVDC Overhead Transmission System
5.1.3 HVDC Underground Transmission System
5.2 Component
5.2.1 Converter Stations
5.2.2 Transmission Medium (Cables)

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 ABB Ltd
6.4.2 General Electric Company
6.4.3 Siemens AG
6.4.4 Mitsubishi Electric Corporation
6.4.5 Schneider Electric SE
6.4.6 Cisco Systems Inc.
6.4.7 NKT AS
6.4.8 Toshiba Corporation
6.4.9 Doble Engineering Co.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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