The report titled Global HVDC Converter Station Market covers definition, applications, classification, value chain structure and market performance by key leading countries/regions. In a detailed research methodology – wise, the HVDC Converter Station analysis with various aspects corresponding to the Globally HVDC Converter Station Market.
In further, the HVDC Converter Station Market includes drivers, restraints, threats, opportunities, trends, geographical/regional HVDC Converter Station markets, and competitive landscape.
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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 countryâs growing electricity needs and reduction of power transmission losses. To counter problems, such as increasing air pollution, which was outlined in the countryâs 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, Chinaâs 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 countryâs power grid.
Top Players of HVDC Converter Station Market are listed below:
- Siemens AG
- ABB Ltd
- General Electric Company
- C-EPRI Electric Power Engineering Co. Ltd
- Toshiba Corporation
- Mitsubishi Electric Corporation
Reasons to Purchase This Report
Geographically, this Global report majorly split into several regions, covering
- North – South America
- Asia – Pacific
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The HVDC Converter Station Report provides the landscape and growth with the product lifecycle over the coming years, market space, market opportunities, market risk, the market overview of the HVDC Converter Station. It explains the gap between supply and consumption, tables and figures, SWOT analysis of the leading enterprises in the HVDC Converter Station Report. Further, the HVDC Converter Station Report is examined for price, cost and gross. Additionally, it provides a valuable source of suggestions and direction for enterprises and individuals who are taking part in this market.