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HVDC Converter Station Market (Technology - Voltage Source Converter (VSC) and Line Commutated Converter (LCC); Components - Converter Station, Converter Unit, Converter Valves, Converter Transformers, Filters, Reactive Power Source, Smoothing Reactor, and HVDC System Pole; Configuration - Monopolar, Bi-polar, Back-to-Back, and Multi-terminal; Application - Power Industry, Interconnecting Networks, and Oil & Gas): Global Industry Analysis, Trends, Market Size and Forecasts to 2024

  • Published : July, 2018

  • Rep Id : EIM0144

  • Category : Energy, Mining and Infrastructure

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the HVDC Converter Station Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the HVDC Converter Station Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of HVDC Converter Station Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on HVDC converter station market provides in-depth analysis of segments and sub-segments in global as well as regional HVDC converter station market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional HVDC converter station market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global HVDC converter station market. According to the report, the global HVDC converter station market is projected to grow at a CAGR of 8.0% over the forecast period of 2018-2024.


HVDC Converter Station Market

 

Market Insight

The HVDC (High Voltage Direct Current) is widely used to transmit long distance bulk power and connect two separate AC systems. As a result, it is necessary to install expensive filter-compensation units and reactive power compensation units. These converter stations are specially used for converting alternating current (AC) to direct current (DC). Mercury arc valves were used at the beginning of every HVDC system. The HVDC system is less expensive and has minimum losses and it transmits power between the unsynchronized AC systems.

 

Increasing demand for a cost-effective solution for long distance power transmission and government policies towards DC transmission are the factors driving the growth of the HVDC converter station market. Additionally, an increasing number of renewable energy generation plants such as solar farms are anticipated to have a positive impact on the growth of the HVDC converter station market. However, transmission congestion, instability, and high initial setup cost are the factors likely to hamper the growth of the HVDC converter market during the forecast period. On the other hand, lengthy approval processes for transmission projects is also the factor having a negative impact on the growth of the market.

 

Furthermore, growing concerns over reducing fossil fuels and increasing carbon emissions have led to the growth of offshore wind farms that require HVDC converter to connect their farms to the grids. This, in turn, is anticipated to provide several growth opportunities for the key players in the HVDC converter station market. Moreover, the rapid adoption rate for UHVDC Technology in China is also providing opportunities for the HVDC converter market over the Upcoming years.

 

Among the geographies, Europe dominated the HVDC converter station market owing to the investments in power transmission by major economies such as the UK, Germany, and Italy. Moreover, Asia-Pacific is anticipated to lead the HVDC converter station market over the upcoming years.

 

Segment Covered

The report on the global HVDC converter station market covers segments such as technology, components, configuration, and application. On the basis of technology the global HVDC converter station market is categorized into voltage source converter (VSC) and line commutated converter (LCC). On the basis of components the global HVDC converter station market is categorized into the converter station, converter unit, converter valves, converter transformers, filters, reactive power source, smoothing reactor and HVDC system pole. On the basis of configuration the global HVDC converter station market is categorized into monopolar, bi-polar, back-to-back and multi-terminal. On the basis of application the global HVDC converter station market is categorized into the power industry, interconnecting networks, and oil & gas.

 

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global HVDC converter station market such as GE, ABB Ltd., Siemens A.G., Toshiba Corporation, BHEL, Mitsubishi Electric, NR Electric Co., Ltd., TransGrid Solutions Inc., Prysmian Group, Nexans SA and American Superconductor.

 

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global HVDC converter station market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of HVDC converter station market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the HVDC converter station market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the HVDC converter station market to understand the present and future trends in this market and formulate their strategies accordingly.


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