The MarketResearchFuture analysis indicated that a massive surge in investment in renewables, energy efficiency and other clean energy technologies could drive declines in global demand and investment in HVDC Converter Stations market.
The HVDC Converter Stations Market report 2022 includes enabling technologies, key trends, market drivers, challenges, global standardization, regulatory regional landscape, deployment models, case studies, opportunities, future roadmaps, value chains, historical and forecasted data of top market player profiles. This HVDC Converter Stations industry is a multi-billion-dollar business, with the Europe region dominating the global landscapes. It is an integral part of modern life, yet even though it has existed for over a century, the HVDC Converter Stations Market has changed dramatically in time to time. Traditional markets such as Europe and North America are now being joined by emerging economies such as Asia Pacific.
The HVDC converter station market was valued at USD 7.31 billion in 2016 and is expected to grow at a CAGR of 4.5% to reach USD 8.1 billion by 2027
HVDC Converter Stations Market Overview
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.
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Globally Major key Players accelerates the HVDC Converter Stations Market is 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) and Other.
HVDC Converter Stations Market Industry Aspects:
- International Energy Agency (IEA) – the energy prospects for Southeast Asia have been affected by the Covid-19 pandemic, new energy and climate policy commitments and, most recently, high and volatile prices exacerbated by the Russian Federation’s (hereafter, “Russia”) invasion of Ukraine. Covid-19 led to a major economic shock for countries in Southeast Asia and the economic recovery now risks being slowed by higher energy prices.
- Russia’s unprovoked invasion of Ukraine has had far-reaching impacts on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships.
- China and the United States each registered gigawatt-scale additions. Utility-scale installations continue to dominate the market, accounting for around two-thirds of total added capacity. Although new policies and projects in key markets are set to accelerate growth, an even faster rise is needed to align with the Net Zero Emissions by 2050 Scenario, which sees nearly 600 GW of battery storage capacity installed by 2030.
Most important Segments of HVDC Converter Stations Market covered in this report are:
Global HVDC Converter Station Market, By Type
4.4 Back To Back
Global HVDC Converter Station Market, By Converter Type
5.2 Line Commutated Current Sourced Converters
5.3 Voltage Source Converters
Global HVDC Converter Station Market, By Application
6.2 Power Industry
6.3 Interconnecting Networks
6.4 Oil & Gas
HVDC Converter Stations Industry Influence of the global market report: –Comprehensive assessment of all opportunities and risks in the HVDC Converter Stations Market. –HVDC Converter Stations Market recent innovations and major events. –A detailed study of business strategies for the growth of the HVDC Converter Stations Market market-leading players. –Conclusive study about the growth plot of HVDC Converter Stations Market for forthcoming years. –In-depth understanding of HVDC Converter Stations Market, market-particular drivers, constraints, and major micro markets. –Favorable impression inside vital technological and market latest trends striking the HVDC Converter Stations Market.
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The HVDC Converter Stations Market report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
What are the market factors that are covered in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the HVDC Converter Stations market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The HVDC Converter Stations Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
The research includes historic data from 2017 to 2021 and forecasts until 2030 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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