Global HVDC Converter Station Market
Analysis
The global HVDC
Converter Station market 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 Industry
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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