As per Hvdc Grid Market, the market is gaining momentum as high-voltage direct current technology becomes essential for long-distance electricity transmission and integration of renewable energy sources. HVDC grids provide efficient, low-loss power transfer and improve grid stability, especially for intercontinental and offshore energy transmission.Governments worldwide are investing in modernizing power infrastructure, which, combined with the growing emphasis on reducing carbon emissions, is accelerating the adoption of HVDC grids. The technology is increasingly utilized in connecting offshore wind farms, solar parks, and regional power networks.
Market Drivers:
Rising global electricity demand
Integration of renewable energy sources
Need for efficient long-distance power transmission
Modernization of aging power grids
Government investments in sustainable infrastructure
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