The report "HVDC Converter Station Market by Type (Monopolar, Bi-polar, Back to Back, and Multi-terminal), by Technology (Line Commutated Current Sourced Converters and Voltage Source Converters (VSC)), by Application and by Geography - Global Trends & Forecasts to 2019" defines and segments the HVDC converter station market with analysis and forecasts of the global revenue. The global HVDC converter station market is estimated to grow from over $9.9 billion in 2014 to nearly $12.7 billion by 2019 at a CAGR of over 5.1%.
Browse 60 market data tables and 19 figures spread through 200 pages and in-depth TOC on "HVDC Converter Station Market by Type (Monopolar, Bi-polar, Back to Back, and Multi-terminal), by Technology (Line Commutated Current Sourced Converters and Voltage Source Converters (VSC)), by Application and by Geography - Global Trends & Forecasts to 2019"
Europe: The current largest market for HVDC Converter Station market
The European region holds the largest market for HVDC converter station with the most number of converter stations planned in this region for electricity supply in neighboring countries through subsea cables or overhead transmission lines. The production and promotion of renewable energy sources is important both for reduction of the European Union's dependence on foreign energy imports and meeting in targets to combat global warming. Thus, there is a huge growth prospect in the European market for the converter station.
Line Commutated Converters (LCC): Biggest market by converter type
Most HVDC schemes in commercial operation employ line commutated thyristor valve converters. In a LCC, the commutation is carried out by the AC system voltage. The Line Commutated Converter-based HVDC (LCC HVDC) will continue to be used for bulk power HVDC transmission over several hundred MWs as this mature technology provides efficient, reliable, and cost-effective power transmission for many applications. This technology is helpful in transmitting direct current over long distances through submarine and underground cables, asynchronous links between AC systems, and by overhead transmitting lines.
The report focuses on HVDC converter station market by type, technology, and geography. The value of the market for HVDC converter station market is analyzed in detail for all major countries. The study covers different strategies such as contract agreements, equipment supply, mergers & acquisition, geographical expansions, and others. Siemens (Germany), ABB Ltd. (Switzerland), Alstom (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves (India), General Electric (U.S.), and Hitachi Ltd. (Japan) are the dominant market leaders that provide these converter stations.
As per the analysis, Europe is the biggest market for HVDC Converter Station followed by Asia-Pacific and America regions. The CAGR of HVDC converter station market is expected to grow at 5.1% between 2014 and 2019. By the end of 2019, the market is expected to be dominated by the Asia-Pacific region.