Global HVDC Converter Station Market
Analysis
The
global HVDC
Converter Station Industry is a very dynamic market and is expected to
witness high growth over the forecast period.
HVDC
lines are less expensive, and losses are less as compared to AC transmission.
It interconnects the networks that have different frequencies and
characteristics. But, the initial cost of HVDC substation is very high and
their substation equipment is quite complicated. Thus, for long distance
transmission it is preferable that power is generated in AC, and for
transmission, it is converted into DC and then again converted back into AC for
final use. This system is economical and also improves the efficiency of the
system.
Global HVDC Converter Station Industry
Segmental Analysis
HVDC
Converter Station market is segmented on the basis of type, converter type,
application and end-use in the regions of North America, Europe, Asia-Pacific
and Rest of the World.
On
the basis of type, it is segmented into monopolar, bi-polar, back to back, and
multi-terminal.
On
the basis of converter type, it is categorized into, Line Commutated Current
Sourced Converters (LCC) and Voltage Source Converters (VSC).
On
the basis of application, it is segmented into Power Industry, Powering Island
and Remote Loads, Interconnecting Networks, Oil & Gas and Other.
The
Line Commutated Converter-based HVDC (LCC HVDC) will continue to be used for
bulk power HVDC transmission over several hundred MWs. This technology provides
efficient, reliable, and cost-effective power transmission for many
applications as well as also plays an important role in transmitting direct
current over long distances through submarine and underground cables, and by
overhead transmitting lines.
Regional Outlook
Geographically,
Europe dominates the market of HVDC converter station market. Existing
transmission lines which designed for maximum transmission capacities, new
interconnections are planned between the U.K., Germany, Poland, France and
Sweden and others for electricity trading are some of the factors boosting the
growth of the HVDC converter station market. Moreover, concerns over
electricity security and reliability, as well as rising electricity prices, are
promoting electricity trade between the countries in regions pushing the market
towards growth.
Leading Players
We
recognize the key players in the global HVDC Converter Station market as 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)
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