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Revenue from High-Voltage Transmission Systems is Expected to Reach $31 Billion by 2023, According to Navigant ResearchBOULDER, Colo. --(Business Wire)-- A recent report from Navigant Research analyzes the global market for high-voltage transmission systems (HVTSs), including global market forecasts for revenue, segmented by technology and region, through 2023. Driven by rapid economic growth and electrification in China, India, and parts of the Middle East and Africa, the high-voltage transmission system (HVTS) market is expanding globally. At the same time, the HVTS vendor landscape is changing as focus shifts to rebuilding and extending transmission infrastructure to utility-scale wind and solar projects in remote regions. Click to tweet: According to a recent report from Navigant Research, worldwide revenue from HVTSs is expected to grow from $20.8 billion in 2014 to $31 billion in 2023. "The dramatic expansion of high-voltage transmission systems occurring today recalls the initial wave of electrification seen during the 20th century in North America and Europe," says James McCray, senior research analyst with Navigant Research. "Meanwhile, many existing HVTSs have been operational for 30 to 40 years or more, and are now approaching replacement and upgrade cycles, driving demand for all types of HVTS technologies." As these technologies become smarter and more powerful, the associated IT systems used to manage complicated HVTS deployments are leveraging digital wireless sensors in every new piece of equipment, according to the report. With the capital costs and uncertainty associated with new transmission grid and high-voltage (HV) substation construction, utilities and grid operators are looking to draw out as much additional capacity as possible on eisting facilities and avoid costly new transmission line construction wherever possible. The report, "High-Voltage Transmission Systems," analyzes the global HVTS market, with a focus on seven technologies: high-voltage direct current, high-voltage alternating current, submarine cables, flexible AC transmission systems, asset management and condition monitoring, supervisory control and data acquisition, and substation automation. The report provides an analysis of the market issues, including drivers and challenges, as well as regional trends and opportunities, related to HVTS solutions. Global market forecasts for revenue, segmented by technology and region, extend through 2023. The report also provides technical descriptions of the primary technologies that represent the main components of the HVTS grid and profiles the key industry players. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients' needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, "High-Voltage Transmission Systems," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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