Market Values:
The HVDC Converter Station Market, valued at US$ 11.73 Bn. in 2022, is projected to witness a robust growth of 8% from 2023 to 2029, reaching an estimated value of nearly US$ 20.11 Bn.
Report Scope:
The comprehensive research report on the HVDC Converter Station Market provides market players with a broad understanding of recent, ongoing, and anticipated developments. The report includes insights from PESTEL and PORTER analyses, exploring microeconomic market components. The scope encompasses market dynamics, challenges, opportunities, and a competitive landscape analysis, offering decision-makers a futuristic perspective on the market.
Research Methodology:
The study utilizes a rigorous research methodology, encompassing a comparative analysis of leading HVDC Converter companies in terms of price, financial position, product portfolio, growth strategies, and geographical presence. The research methodology provides investors with valuable insights into market dynamics and structure, aiding in better decision-making.
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Dynamics:
Market Drivers:
The report highlights the increased reliability of transmission grids with the introduction of HVDC technology, resulting in cost-effective transmission over longer distances. HVDC transmission lines are noted for their lower expenses compared to HVAC lines for the same transmission capacity.
Market Restraints:
Government approvals for transmission from multiple nearby grids can occasionally delay the operation of converter stations, impacting the efficiency and timely transmission of electricity.
Market Opportunities:
Government policies from organizations such as the Global Wind Energy Council (GWEC) and investments by market giants like ABB and Siemens are expected to significantly contribute to the growth of the offshore wind industry.
Challenges:
Customization of HVDC transmission systems to meet national standards can increase costs, and the lack of standardization poses difficulties in integrating equipment from multiple vendors.
Competitive Landscape:
Key players in the market, including ABB, Alstom, General Electric, Siemens, and others, emphasize vertical integration and employ product development and regional growth strategies to strengthen their businesses. The report highlights the focus on customer service and application-specific configurations as key aspects of competition.
Segment Analysis:
Type:
The Bi-Polar segment is anticipated to grow at the highest CAGR, offering advantages in the event of link failure during power transmission.
Technology:
The Voltage Source Converters segment is expected to exhibit the highest growth, driven by advantages such as independent control of active power and compact installation size.
Application:
The industrial sector dominated the market in 2022, accounting for over 42% of the total market share. Additionally, the telecommunications sector is expected to grow at a CAGR of over 7% during the forecast period.
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What is HVDC Converter Station Market Segmentation?
by Type
1. Bi- Polar
2. Monopolar
3. Back-to- Back
4. Multi- Terminal
by Technology
1. Volatge Source Converters
2. Line Commutated Converters
Who are HVDC Converter Station Market Key Players?
1. ABB Ltd. (Switzerland)
2. Alstom (France)
3. Bharat Heavy Electricals Ltd. (India)
4. General Electric (U.S.)
5. Nissin Electric Co Ltd (Japan)
6. Toshiba Corporation (Japan )
7. Hitachi Ltd. (Japan)
8. Crompton Greaves Ltd. (India)
9. Mitsubishi Electric (Japan )
10. N.R. Electric (China)
11. China Xian X.D. power system (China)
12. C-EPRI Power engineering company (China)
13. Siemens AG (Germany)
14. Xj Electrics (China)
15. HYOSUNG Corporation (South Korea)
16. LSIS (South Korea)
17. Excelitas Technologies (Canada)
18. Marubeni (Japan )
19. HCDC Technologies Ltd. (UK)
20. Nexans SA (France)
21. NKT A/S (Denmark)
22. Prysmian S.p.a. (Italy)
23. Sumitomo Electric (Japan)
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Table of content for the HVDC Converter Station Market includes:
- Global HVDC Converter Station Market : Research Methodology
- Global HVDC Converter Station Market : Executive Summary
- Market Overview and Definitions
- Introduction to the Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global HVDC Converter Station Market : Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Offerings:
- Past Market Size and Competitive Landscape
- HVDC Converter Station Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- HVDC Converter Station Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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