DUBLIN, Dec. 18, 2017 /PRNewswire/ --
The "HVDC Converter Station Market by Configuration (Monopolar, Bi-Polar, Back-to-Back, Multi-Terminal), Technology (LCC, VSC), Component (Valve, Converter Transformer, Harmonic Filter, Reactor), Power Rating, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global HVDC converter station market is projected to grow at a CAGR of 7.92%, from 2017 to 2022, to reach a market size of USD 11.57 Billion by 2022 from an estimated USD 7.90 Billion in 2017.
This growth is attributed to the increasing demand for cost-effective solutions, for transferring bulk power over long distances, and increasing the need for connecting asynchronous grids.
The report segments the HVDC converter station market, based on component, into valves, converter transformers, circuit breakers, surge arresters, harmonic filters, reactors, and others. The valve segment is expected to account for the largest market share in the component segment as it is the most critical asset of converter stations. In the Asia Pacific region, the investments in power transmission are increasing due to increasing demand for power efficiency from major economies to meet energy requirement and increase the transmission efficiency.
The HVDC converter station market has been segmented, based on technology, into LCC and VSC. The LCC technology held the largest market share in 2016. The advancement in the thyristor valve technology is expected to drive the market for the LCC technology. On the other hand, the VSC technology is projected to grow at the highest CAGR during the forecast period, due to its ability to connect the renewable power generation sources to the grid. In addition to this, the recent development in the VSC technology provides an opportunity to transfer bulk power over 1500 MW, providing the growth opportunity for the VSC technology.
In this report, the HVDC converter station market has been analyzed with respect to regions, namely, North America, Europe, Asia Pacific, and the rest of the world which includes South America and the Middle East and Africa. Europe is expected to dominate the HVDC converter station market by 2022, owing to investments in power transmission by major economies such as the UK, Germany, and Italy, among others to develop interlinkage between countries to maintain energy efficiency. The market in Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022. The growth is attributed to the growing requirement from major economies such as India and China, to meet the energy requirement in the country and increase energy efficiency without affecting the national grid.
Leading players in the HVDC converter station market include Siemens (Germany), ABB (Switzerland) and General Electric (US). Contracts & agreements was the strategy most commonly adopted by top players, constituting 95.0% of the total developments, from 2014 to September 2017. It was followed by mergers & acquisitions and expansions.
- Increasing Demand for Cost-Effective Solutions for Long Distance Power Transmission
- Integration of the VSC Technology Across Grids Enables System Security
- Liberalization in Energy Policies in Europe
- High Initial Capital to Establish the HVDC Converter Station
- Lengthy Approval Processes for Transmission Projects Affect the Growth of the HVDC Substation
- Favorable Government Policies Bring Opportunities for Growth in Offshore Wind Transmission Projects
- Rapid Adoption Rate for the UHVDC Technology in China
- Maintaining Uniformity in the Standards of HVDC Transmission Equipment and Systems
- Controlling Congestion & Instability in HVDC Systems
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 HVDC Converter Station Market, By Configuration
7 HVDC Converter Station Market, By Technology
8 HVDC Converter Station Market, By Component
9 HVDC Converter Station Market, By Power Rating
10 HVDC Converter Station Market, By Region
11 Competitive Landscape
12 Company Profiles
- C-Epri Power Engineering Company
- China Xian XD Power System
- NR Electric
- XJ Electric
For more information about this report visit https://www.researchandmarkets.com/research/rp87xb/global_hvdc?w=5
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