logo
logo
Sign in

HVDC Converter Station Market Research Report- Forecast 2023

avatar
Yash Tiknayat

Market Highlights

 

The global HVDC Converter Station market is a very dynamic market and is expected to witness high growth over the forecast period. Advanced technology in HVDC systems is able to provide transmission systems with benefits such as voltage stability and control, absence of reactive power, and the removal of rising disturbances which helps to grow the market. Moreover, the share of clean and emission-free power from hydro, wind, solar, and other renewable energy sources in the global energy mix is expected to rise. HVDC converter station will transmit clean electricity generated from renewable power plants to urban areas with minimum transmission losses.

 

The prominent players in the HVDC converter station market are ABB Ltd. (Switzerland), Bharat Heavy Electricals Ltd. (India), Alstom (France), Siemens AG (Germany), Crompton Greaves Ltd. (India), General Electric (U.S.), Nissin Electric Co Ltd (Japan), Toshiba Corporation (Japan )and Hitachi Ltd. (Japan)    

 

Market Research Future Analysis:

 

 Market Research Future analysis states that the global market of HVDC converter station market is estimated to grow at USD 8.1 million by the end of year 2023. HVDC lines are less expensive, and losses are less as compared to AC transmission. It interconnects the networks that have different frequencies and characteristics. But, the initial cost of HVDC substation is very high and their substation equipment is quite complicated. Thus, for long distance transmission it is preferable that power is generated in AC, and for transmission, it is converted into DC and then again converted back into AC for final use. This system is economical and also improves the efficiency of the system.

 

Geographically, Europe dominates the market of HVDC converter station market. Existing transmission lines which designed for maximum transmission capacities, new interconnections are planned between the U.K., Germany, Poland, France and Sweden and others for electricity trading are some of the factors boosting the growth of the HVDC converter station market size. Moreover, concerns over electricity security and reliability, as well as rising electricity prices, are promoting electricity trade between the countries in regions pushing the market towards growth.

 ACCESS REPORT DETAILS @ https://www.marketresearchfuture.com/reports/hvdc-converter-station-market-4456

About Market Research Future:

 

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Contact Us:

Market Research Future

Office No. 524/528, Amanora Chambers

Magarpatta Road, Hadapsar

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email:[email protected]

collect
0
avatar
Yash Tiknayat
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more