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.
Key Developments in the Market
- May 2017: Siemens and Sumitomo Electric Industries Ltd were awarded an HVDC order from the Indian transmission operator Power Grid Corporation of India (POWERGRID), for the supply of a high-voltage direct current (HVDC) transmission system.
Reasons to Purchase this Report
- Current and future global HVDC converter station market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- 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 market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product & Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Growth in Healthcare Expenditures
6.1.2 Rise in Patient Pools
6.1.3 Increasing Medical Tourism in Emerging Countries
6.1.4 Rising Technological Advancement in Facilities Management
6.2 Market Restraints
6.2.1 Gap between Providers and Payers
6.2.2 Lack of Investment in Facilities Management in Low Income Countries
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
7.1.1 Waste Management
7.1.2 Security Services
7.1.3 Catering Services
7.1.4 Cleaning Services
7.1.5 Technical Support Services
7.2 By End User
7.2.3 Long-term Healthcare Facilities
7.3 By Geography
7.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest Of Europe
126.96.36.199 Australia & New Zealand
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.3.4 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of the Middle East & Africa
7.3.5 South America
22.214.171.124 Rest of South America
8. Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.3 Ecolabs USA Inc.
9.4 Iss World Servies A/S
9.5 Jones Lang Lasalee
9.6 Medxcel Facilities Management
9.7 Ocs Group
9.8 Siegel-Gallagher Management Company, Inc.
9.9 Vanguard Resources
9.10 Mitie Group Plc.
10. Future of the Market