As per Zion Market Research, the — global HVDC converter station market was is predicted to expandat a CAGR of almost 8% to cross USD 14.58 billion by 2026. Major players such as LSIS, Siemens, General Electric, ABB, Toshiba, Mitsubishi, C-EPRI, NR Electric, , china Xian XD power system, HYOSUNG, XJ Electric, and BHEL.
The >2,000 MW Category By Power Rating Is Predicted To Develop At The Max CAGR In The Coming Years
The >2000 MW power rating section is expected to develop at the max CAGR. The >2000 MW section had the biggest share of the market and the trend is expected to carry on till 2025. The segment is powered by the growth of the power transmission ability of valves, due to which major countries such as China and India have resulted in a high requirement for such stations. In addition to this, the EU aims for power creation via renewable resources have generated a rising requirement for connecting renewable energy sources to the grid, which is additionally predicted to power the requirement in Europe for HVDC converter stations.
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LCC Segment By Technology Is Predicted To Have The Biggest Share During The Forecast Period Of The Global Market
The LCC section is predicted to dominate the global market for HVDC converter station, by technology. The growth of thyristor valves in the late times has offered an edge for such stations to transmit bulk power over remote distances. Owing to this, the LCC tech finds usage in UHVDC projects planned for bulk power transport in major nations in Asia Pacific.
Asia Pacific To Add Up For The Biggest Market Size In The Coming Years
The market in Europe is presently the biggest market for HVDC converter stations, after Asia Pacific. The Asia Pacific market is majorly powered by India and China as these are the major nations in the area that have a huge requirement for efficient energy transmission systems. Asia Pacific has the biggest set up of these stations in the globe due to the need of bulk power transmission. In addition to this, China has a number of regional firms such as C-EPRI and NR Electric, among others in the global market to suffice the need of its huge UHVDC projects. China is aiming to link different energy grids to a central hub, powering the HVDC converter stations market.
The global HVDC converter station market is segmented as follows:
By Power Rating
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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