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HVDC Converter Station Market -By Technology, By Power Rating and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 - 2026

  • ID: 5143389
  • Report
  • June 2020
  • Region: Global
  • 100 pages
  • Zion Market Research
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The global HVDC Converter Station market is slated to accrue revenue worth nearly 14.58 (USD Billion) by 2026 and record the CAGR of about 8% over the period from 2020 to 2026. The report offers assessment and analysis of the HVDC Converter Station market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Optimization of the capacity of current power transmitting corridors is best carried out through the conversion to HVDC. This conversion has also proved to be cost-efficient even over shorter distances and can result in enhanced capacity of current corridors. Apparently, need for reducing carbon emissions has translated into huge demand for expanding power transmission capacity, thereby creating massive preference for HVDC converter stations.

Recently in 2019, the Ultranet HVDC conversion venture in Germany is transforming AC corridor into a hybrid AC/DC corridor, thereby transporting wind energy through northern part of the country to southern part. Earlier, HVDC conversion technology was used only for high-powered & long-distant transmission by the utilities as it incurred high operating costs for shorter distances. However, due to onset of new technologies and grid systems HVDC conversion has become cost-effective as well as feasible for shorter distances. HVDC converter station has the ability to transfer huge amount of power in a corridor through utilization of current grid power lines & structures.

Market Growth Dynamics

Escalating demand for sustainable energy, cost-effective carbon-free power supply, and need for reducing GHG emissions & air pollution is likely to enhance the popularity of HVDC converter station. According to NCBI, the current studies in 2019 have demonstrated that HVDC transmission can offer lucrative advantages as a component of topological changes in the grid electricity business. Apparently, the studies have revealed that national HVDC overlay can be cost-effective course towards de-carbonization, offer interregional stability, and enhance resilience & reliability in the grid during offering sustenance against the altering climatic conditions. All these aforementioned factors will steer the growth of the HVDC converter station industry over the forthcoming years.

Furthermore, the HVDC transmission technology has matured due to its utilization over an elongated period. Nevertheless, it offers numerous benefits over HVAC over long distances. The benefit of DC-DC converter topology amongst current AC solutions for transmission of power over long distances has been already proved a long ago through various empirical studies & positive outcomes. Moreover, the most desirable benefits derived due to HVDC transmission line as compared to AC line cover are absence of negative impact on the skin, lower transmission losses, affordable manufacture procedure for DC cable production, and higher proportion of active power control. All these aspects will steer the growth of the HVDC converter station market in the near future.

In addition to this, rise in the number of offshore wind farms and need for linking asynchronous grids will impel the growth of the HVDC converter station market in the years ahead. Apart from this, government policies favoring DC transmission to meet the growing energy requirements will bring inflation in the market value during the forecast timeframe. Additionally, growing green energy trends will further enlarge the market scope over the forthcoming years.

Europe To Account For Major Market Size Over Forecast Timeframe

The regional market growth over the period from 2020 to 2026 is attributed to surge in the number of offshore wind farms in the countries like the UK, Denmark, Germany, and Norway in Europe. As per the study published in April 2020 in MDPI journal, nearly 52 of the HVDC power stations, which account to 40% of the total HVDC power stations across the globe, are based in Europe. Reportedly, nearly 26 power stations have been launched in the region since last five years. Furthermore, presence of key players such as Siemens, Alstom, and ABB in the region will further boost regional market trends.

Key players influencing the market growth are ABB, HYOSUNG, XJ Electric, LSIS, china Xian XD power system, Siemens, General Electric, Toshiba, Mitsubishi, C-EPRI, NR Electric, and BHEL.

The global HVDC converter station market is segmented as follows:

By Technology
  • LCC
  • VSC
By Component
  • Valve
  • Converter Transformer
  • Circuit Breakers
  • Harmonic Filters
  • Surge Arresters
  • Reactors
  • Others
By Power Rating
  • Below 500
  • >500-1000
  • >1000-1500
  • >1500-2000
  • >2000
By Configuration
  • Bi-Polar
  • Monopolar
  • Back-to-back
  • Multi Terminal
By Region
  • North America
  • The U.S.
  • Canada
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa
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  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. HVDC Converter Station Market, 2016–2026(USD Billion)
    • 2.2. HVDC Converter Station Market: Snapshot
  • Chapter 3. Global HVDC Converter Station Market– Industry Analysis
    • 3.1. HVDC Converter Station Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. A massive surge in the number of offshore wind farms and need for linking asynchronous grids will increase the market size
      • 3.2.2. Favorable government pulicies aiding DC transmission to fulfill the growing energy requirements will elevate the market earnings
    • 3.3. Porter’s Five Forces Analysis
    • 3.4. Market Attractiveness Analysis
      • 3.4.1. Market attractiveness analysis By Component
      • 3.4.2. Market attractiveness analysis By technology
      • 3.4.3. Market attractiveness analysis By Configuration
      • 3.4.4. Market attractiveness analysis By Power Rating
  • Chapter 4. Global HVDC Converter Station Market– Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global HVDC Converter Station Market: company market share, 2019
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Component launches
      • 4.2.3. Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global HVDC Converter Station Market–Component Analysis
    • 5.1. Global HVDC Converter Station Market overview: By Component
      • 5.1.1. Global HVDC Converter Station Market share, By Component,2019 and 2026
    • 5.2. Converter Transformer
      • 5.2.1. Global HVDC Converter Station Market by Converter Transformer, 2016–2026(USD Billion)
    • 5.3. Valve
      • 5.3.1. Global HVDC Converter Station Market by Valve, 2016–2026(USD Billion)
    • 5.4. Reactor
      • 5.4.1. Global HVDC Converter Station Market by Reactor, 2016–2026(USD Billion)
    • 5.5. Harmonic Filter
      • 5.5.1. Global HVDC Converter Station Market by Harmonic Filter, 2016–2026(USD Billion)
  • Chapter 6. Global HVDC Converter Station Market– Configuration Analysis
    • 6.1. Global HVDC Converter Station Market overview: By Configuration
      • 6.1.1. Global HVDC Converter Station Market share, By Configuration, 2019 and 2026
    • 6.2. Bi-Pular
      • 6.2.1. Global HVDC Converter Station Market By Bi-Pular, 2016–2026(USD Billion)
    • 6.3. Monopular
      • 6.3.1. Global HVDC Converter Station Market By Monopular, 2016–2026(USD Billion)
    • 6.4. Multi-Terminal
      • 6.4.1. Global HVDC Converter Station Market By Multi-Terminal, 2016–2026(USD Billion)
    • 6.5. Back-to-Back
      • 6.5.1. Global HVDC Converter Station Market By Back-to-Back, 2016–2026(USD Billion)
  • Chapter 7. Global HVDC Converter Station Market– technology Analysis
    • 7.1. Global HVDC Converter Station Market overview: By technology
      • 7.1.1. Global HVDC Converter Station Market share, By technology, 2019 and 2026
    • 7.2. VSC
      • 7.2.1. Global HVDC Converter Station Market By VSC , 2016–2026(USD Billion)
    • 7.3. LCC
      • 7.3.1. Global HVDC Converter Station Market By LCC, 2016–2026(USD Billion)
  • Chapter 8. Global HVDC Converter Station Market– Power Rating Analysis
    • 8.1. Global HVDC Converter Station Market overview: By Power Rating
      • 8.1.1. Global HVDC Converter Station Market share, By Power Rating , 2019 and 2026
    • 8.2. Below 500
      • 8.2.1. Global HVDC Converter Station Market By Below 500 , 2016–2026(USD Billion)
    • 8.3. More than 500 & Less than 1000
      • 8.3.1. Global HVDC Converter Station Market By More than 500 & Less than 1000, 2016–2026(USD Billion)
    • 8.4. More than 1000 & Less than 1500
      • 8.4.1. Global HVDC Converter Station Market By More than 1000 & Less than 1500, 2016–2026(USD Billion)
    • 8.5. More than 1500 & Less than 2000
      • 8.5.1. Global HVDC Converter Station Market By More than 1500 & Less than 2000, 2016–2026(USD Billion)
    • 8.6. More than 2000
      • 8.6.1. Global HVDC Converter Station Market By More than 2000, 2016–2026(USD Billion)
  • Chapter 9. Company Profiles
    • 9.1. LSIS
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Component Portfolio
      • 9.1.4. Business Strategy
      • 9.1.5. Recent Developments
    • 9.2. Siemens
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Component Portfolio
      • 9.2.4. Business Strategy
      • 9.2.5. Recent Developments
    • 9.3. General Electric
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Component Portfolio
      • 9.3.4. Business Strategy
      • 9.3.5. Recent Developments
    • 9.4. ABB
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Component Portfolio
      • 9.4.4. Business Strategy
      • 9.4.5. Recent Developments
    • 9.5. Toshiba
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Component Portfolio
      • 9.5.4. Business Strategy
      • 9.5.5. Recent Development
    • 9.6. Mitsubishi
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Component Portfolio
      • 9.6.4. Business Strategy
      • 9.6.5. Recent Development
    • 9.7. C-EPRI
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Component Portfolio
      • 9.7.4. Business Strategy
      • 9.7.5. Recent Development
    • 9.8. NR Electric
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Component Portfolio
      • 9.8.4. Business Strategy
      • 9.8.5. Recent Development
    • 9.9. china Xian XD power system
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Component Portfolio
      • 9.9.4. Business Strategy
      • 9.9.5. Recent Development
    • 9.10. HYOSUNG
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Component Portfolio
      • 9.10.4. Business Strategy
      • 9.10.5. Recent Development
    • 9.11. XJ Electric
      • 9.11.1. Overview
      • 9.11.2. Financials
      • 9.11.3. Component Portfolio
      • 9.11.4. Business Strategy
      • 9.11.5. Recent Development
    • 9.12. BHEL
      • 9.12.1. Overview
      • 9.12.2. Financials
      • 9.12.3. Component Portfolio
      • 9.12.4. Business Strategy
      • 9.12.5. Recent Development
Note: Product cover images may vary from those shown
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