The HVDC Converter Stations Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The HVDC Converter Stations Market:
https://www.thebusinessresearchcompany.com/report/hvdc-converter-stations-global-market-report
According to The Business Research Company’s HVDC Converter Stations Global Market Report 2024, The HVDC converter stations market size has grown strongly in recent years. It will grow from $12.28 billion in 2023 to $13.39 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to long-distance power transmission, urbanization and power demand, cross-border power transmission, government initiatives and policies, grid stability and reliability.
The HVDC converter stations market size is expected to see strong growth in the next few years. It will grow to $18.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to global electrification trends, enhanced grid resilience, smart grid integration, carbon neutrality goals, interconnection of power networks. Major trends in the forecast period include growing renewable energy integration, advancements in voltage source converter (VSC) technology, cross-border power transmission projects, technological advancements, digitalization and smart controls.
Growth in the renewable energy sector is expected to propel the growth of the HVDC converter stations market going forward. Renewable energy refers to the energy produced from natural sources that are replenished at a faster rate than it is consumed. HVDC converter is used for effective integration, transmission, and distribution of renewable energy over a longer distance, increases grid stability, and aids in the transition to a more sustainable and decarbonized energy system with minimum energy loss. For instance, in October 2023, according to a report by the International Energy Agency, a Paris-based autonomous intergovernmental organization, in world's power generation increased to 22.5% in 2021 and it is expected to increase to 42.5% by 2030. Therefore, the growth in the renewable energy sector is driving the growth of the HVDC converter stations market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=10690&type=smp
The HCDC converter stations market covered in this report is segmented –
1) By Type: Monopolar, Bi-Polar, Back-To-Back, Multi-Terminal
2) By Component: Valve, Converter Transformer, Circuit Breakers, Harmonic Filters, Surge Arresters, Reactors, Other Components
3) By Technology: Line Commutated Converters, Voltage Source Converters
4) By Capacity: < 500 MW, ≥ 500 MW - 1,000 MW, > 1,000 MW - 3,000 MW, > 3,000 MW
5) By Application: Power Industry, Oil And Gas, Powering Island And Remote Loads, Interconnecting Networks
Major companies operating in the HVDC converter station market are focusing on developing innovative solutions such as framework to provide reliable services to customers. Frameworks provide a structure or foundation for building something. They offer a set of guidelines, patterns, and tools to make development more efficient and consistent. For instance, in December 2023, National Grid plc, a UK-based electricity and gas utility company, launched Frameworks for high voltage direct current (HVDC) cable requirements. This includes the complex electronic equipment that converts AC to DC and vice versa at the ends of the HVDC transmission lines.
The hvdc converter stations market report table of contents includes:
- Executive Summary
- HVDC Converter Stations Market Characteristics
- HVDC Converter Stations Market Trends And Strategies
- HVDC Converter Stations Market - Macro Economic Scenario
- Global HVDC Converter Stations Market Size and Growth
.
.
.
- Global HVDC Converter Stations Market Competitive Benchmarking
- Global HVDC Converter Stations Market Competitive Dashboard
- Key Mergers And Acquisitions In HVDC Converter Stations Market
- HVDC Converter Stations Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Hitachi Energy Ltd.
- Siemens Energy AG
- Crompton Greaves Limited
- Mitsubishi Electric Corporation
- Schneider Electric SE
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Recently published a report entitled HVDC Converter Stations Market projected till 2026, added by Value Market Research, covers key players along with their market share and strategic development adopted by them.
Further, the report provides market size, share, trends, outlook and forecast based on historical data coupled with drivers, restraints, and opportunities.The broad HVDC converter stations market has been sub-grouped into type, technology, and application.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
This detail will lead to a focused approach leading to identification of better opportunities.Request a FREE Sample Copy of HVDC Converter Market Stations Report with Full TOC At: https://www.valuemarketresearch.com/contact/hvdc-converter-stations-market/download-sampleBy TypeMonopolarBI-PolarBack-To-BackMulti-TerminalBy TechnologyVoltage Source Converters (VSC)Line Commutated Converters (LSC)By ApplicationsRemote Loads And Powering IslandConnecting Wind FormsUnderground Power LinksBulk Power TransmissionsInterconnecting NetworksLong-Distance Transmission Via CablesGrid Access For Offshore ApplicationsOil And Gas PlatformsThe report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the HVDC converter stations market include ABB, C-EPRI, General Electric, NR-Electric, Siemens, and Toshiba.
