HVDC Converter Station Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The HVDC Converter Station market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“HVDC Converter Station Market report is anticipated to register a CAGR of XX% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global HVDC Converter Station Market are –
- Siemens AG
- ABB Ltd
- General Electric Company
- C-EPRI Electric Power Engineering Co. Ltd
- Toshiba Corporation
- Mitsubishi Electric Corporation
China is expected to lead the HVDC converter station market. The Chinese government has invested heavily in developing a nation-wide HVDC transmission system, to minimize the electricity transmission losses between energy generation bases and load centers via HVAC cables. As of 2017, Europe and Asia-Pacific regions accounted for the largest market shares. In Asia-Pacific, apart from India and China, other countries that are anticipated to contribute to a significant demand for HVDC transmission systems during the forecast period are – South Korea, Japan, Pakistan, Indonesia, and other ASEAN countries.
Growing Renewable Energy Sector
The renewable power plants are generally located in rural areas and require long-distance transmission lines, to provide the generated electricity to the consumers. Large renewable power plants, such as solar farms and wind farms, consist of several power generation units and thereby require interconnection of these power units. The HVDC transmission lines incur lower transmission losses for long-distance power transmission and are better suited for the interconnection of different power units, than HVAC transmission lines. The increasing number of renewable energy generation plants, such as solar farms and offshore wind farms, is expected to positively impact the growth of the HVDC converter system market.
Increasing HVDC Investment in China
The Chinese government plans to invest USD 315 billion on the improvement of power grid infrastructure during 2015-2020, with a particular emphasis on HVDC systems. As of 2016, China had completed approximately over 30 different HVDC projects, and a significant number of projects is under construction, which is expected to cater to the country’s growing electricity needs and reduction of power transmission losses. To counter problems, such as increasing air pollution, which was outlined in the country’s 13th five-year plan to 2020, China has been shifting its focus away from coal-based power generation to the integration of renewables. In 2016, China alone accounted for over 40% of the global renewable capacity growth and is expected to witness similar growth during the forecast period. In October 2017, China’s largest offshore wind farm of 300 MW got commissioned, and several new projects are scheduled for commissioning during the forecast period. The demand for HVDC transmission systems is expected to get supplemented from the integration of large-scale renewables, which are located far away from demand centers in the country’s power grid.
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Scope of the Report:
The report analyses HVDC Converter Station market, which includes –
- Analysis of the growth of HVDC Converter Station market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides HVDC Converter Station market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level HVDC Converter Station market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on HVDC Converter Station market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of HVDC Converter Station Market Report:
- Varying dynamics of the HVDC Converter Station industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- HVDC Converter Station market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- HVDC Converter Station market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase HVDC Converter Station Market Report:
- The report analyses how stringent emission control norms will drive the global HVDC Converter Station market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major HVDC Converter Station market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of HVDC Converter Station:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
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