2019 HVDC Converters Market Growth | Trends Analysis Report 2025

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HVDC Converters 2019 Regional Trend Growth
Projections to 2025
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Global Market Scenario of HVDC Converters
ndustry

• HVDC converters market is becoming an
  increasingly important domain across the energy
  landscape, which can be attributed to fast-paced
  digitalization, decarbonization and distributed
  generation efforts. HVDC systems offer the
  capability to efficiently transmit loads over
  long distances, which will result in product
  penetration across the global power
  infrastructure. Ongoing advancements in
  technology aimed to minimize transmission and
  distribution losses across the power supply
  network will stimulate HVDC converters industry
  trends over the forecast timeframe.
• Favorable government initiatives regarding the
  development of intra-regional and cross border
  transmission networks will offer considerable
  prospects for power component manufacturers
  worldwide. Modernization and revamping of the
  existing electric infrastructure across developed
  economies will stimulate the demand for reliable
  and more efficient AC to DC or DC to AC
  converters.
• HVDC converters industry size is expected to
  witness remarkable growth owing to rising
  integration of renewable power generation
  technologies into the grid along with stringent
  norms to ensure energy efficiency. Reportedly,
  global power demand witnessed a 4 escalation in
  2018, nearly twice as fast as overall energy
  demand.

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Continue-
Power generation from gas and coal-based power
plants increased significantly over the past
year, pushing up carbon emissions by 2.5. Demand
for air-conditioning during summer peeked in
2018, which was recorded as the fourth hottest
year. Similarly, North America witnessed
colder-than-average winters which resulted in the
increased deployment of room-heating appliances.
Globally surging power demand coupled with rising
concerns towards CO2 emissions will be impactful
factors driving HVDC converters market outlook,
as renewable production rises. The Ultranet
project in Germany was aimed at establishing a
340-kilometer DC line between North
Rhine-Westphalia and Baden-Württemberg to
transmit over 2,000 megawatts of power.
TransnetBW in collaboration with Amprion had
designed the project to transform a completely
point-to-point connection into a HVDC
transmission with three grid connection points in
Lower Saxony in the north, Baden-Württemberg in
the south and North Rhine-Westphalia in the west.
Increasing deployment of such systems in the
future will escalate HVDC converters industry
share over the forecast timeline.
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China HVDC Converters Market Size, By
Configuration, 2018 2025 (USD Million)
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converters-market
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360 Industry Analysis

• Korea Electric Power Corporation (KEPCO) has
  recently appointed ABB to build new HVDC
  converter stations to provide additional 200
  megawatt of electricity to Jeju island, for
  powering over 500,000 houses. ABB will deploy its
  VSC technology driven HVDC Light for the project,
  owing to the fact that HVDC is the most
  cost-effective, environment friendly and
  efficient method for transmission of large
  amounts of power over long distances, with
  negligible power losses. Growing deployment of
  HVDC converters along such mega projects globally
  will transform HVDC converters market
  substantially.
• Owing to rising deployment of renewable power
  generation projects and stringent emission
  control regulations, HVDC converter products are
  expected to witness tremendous adoption, in line
  with the escalating power consumption rate and
  ongoing advancement in electrical infrastructure.
  Reports estimate that global HVDC converters
  market share will exceed USD 13 billion by 2025.
  ABB, C-EPRI, Toshiba, General Electric and
  Siemens are some of the key players outlining the
  industrys competitive landscape.

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Industry Background
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• Competitive Analysis
• Siemens
• ABB
• Toshiba
• Mitsubishi Electric
• C-EPRI and General Electric
• Browse Press Release_at_ https//www.gminsights.com/p
  ressrelease/hvdc-converters-marketmarket

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