HVDC Converter Station Market worth $12.7 Billion by 2019, According to a New Study on ASDReports

Wednesday 10 September 2014, Amsterdam

The report, now available on ASDReports, “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%.


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.