Global HVDC Converter Stations Market Report By Technology (Voltage Source Converter (VSC), Line Commutated Converter (LCC)), By Component (Converter, DC Equipment, Converter Transformer, Other Components (Reactive Power, Harmonic Filters, and AC Switchgear) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

As per this study the Global HVDC Converter Stations Market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of 11%. Regarding volume, the market was calculated XX Units in 2022 and forecast to touch XX Units by 2030 with a CAGR of XX% during 2023 - 2030.

A high voltage direct current (HVDC) converter station is a distinctive type of substation used as equipment for HVDC transmission lines. HVDC converter stations used to transmit bulk of power to long distances and for converting alternating current (AC) to direct current (DC) or vice versa. It is generally used to transfer electricity from renewable energy sources situated at remote places to urban areas by converting AC to DC with fewer energy losses. HVDC converter station is the only possible solution to facilitate the use of renewable energy sources.
 
Market Dynamics
 
The rising number of shore wind and support from the government in the form of funds for renewable power generation is augmenting the growth of HVDC converter station market globally. Moreover, increasing demand for electricity across the globe is further pushing the market growth. However, high initial cost, transmission congestion, and lengthy approval process for transmission projects are some of the factors that restrain market growth.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of HVDC converter stations.
 
Market Segmentation
 
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.
 

By Technology

• Voltage Source Converter (VSC)
• Line Commutated Converter (LCC)

 

By Component

• Converter
• DC Equipment
• Converter Transformer
• Other Components (Reactive Power, Harmonic Filters, and AC Switchgear)

 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for HVDC converter stations in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Global HVDC Converter Stations Market Share by Region (Representative Graph)
 

 
The 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 Hitachi Energy Ltd, Siemens Energy AG, Bharat Heavy Electricals Limited, GE Grid Solutions LLC, Mitsubishi Electric Corporation, Toshiba Corporation, NR Electric Co. Ltd, Crompton Greaves Ltd, C-EPRI Electric Power Engineering Co. Ltd. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.