HVDC Transmission Market Likely To Touch New Heights By End Of Forecast Period 2030
HVDC Transmission Market Analysis The Global HVDC Transmission Market size is projected to be worth USD 17,448.0 million by 2030. Restraints Short Circuits to act as Market Restraint Short circuits in AC power system will act as market restraint over the forecast period. Besides, the complexity related to multi-terminal systems may also impede market growth. Challenges High Installation and Implementation Costs to act as Market Challenge The high installation and implementation costs, standardization of HVDC systems, and low rate of adoption of HVDC technology may act as market challenge over the forecast period. COVID-19 Analysis Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the HVDC transmission market growth. The pandemic has slowed down economic activity and pushed the economy into ...