Press release
HVDC Converter Market worth USD AA Bn/Mn by 2029: Cognitive Market Research
HVDC Converter Market worth USD AA Bn/Mn by 2029: Cognitive Market Research
Read Full Report with Table of Contents:
@https://www.cognitivemarketresearch.com/hvdc-converter-market-report
HVDC Converters change electrical energy from high-voltage alternating current (AC) to high-voltage direct current (HVDC), or vice versa.The demand for cost-effective solutions for long-distance power transmission is driving the growth of the market. Furthermore, increasing power infrastructure spending globally is expected to witness the growth of HVDC Converter market during forecast period.
Regional Analysis of HVDC Converter Market:
• Asia Pacific held the major market share in year 2021 and expected to remain dominance during forecast period of analysis. Europe is expected to witness significant growth during the forecast period owing to rising power demand, presence of large number of players and increasing number of renewable sources like solar energy, wind energy and others are supporting the market growth in this region.
Top players involved in the HVDC Converter market are
• Mitsubishi Electric Corporation
• Siemens, ABB, (GE) Grid Solutions LLC
• C-EPRI China Electric Power Research Institute
• Toshiba
• Bharat Heavy Electricals Limited (BHEL)
• NR Electric
• Hyosung Heavy Industries
• Hitachi Ltd
• Others
Current Trends of Manufacturers:
• ABB announced to deliver HVDC converter transformers to China based utility State Grid Corporation of China (SGCC)
In April 2020, ABB has announced that its Power Grids business has secured several orders from State Grid Corporation of China (SGCC). ABB will supply advanced high-voltage direct current (HVDC) converter transformers and high-voltage equipment for three 800KV ultrahigh-voltage direct current (UHVDC) transmission links owned by SGCC.
• Siemens Energy has announced to deliver the high-voltage direct current (HVDC) transmission technology for the Celtic Interconnector, an electricity highway between France and Ireland
In November 2022, Siemens Energy announced to deliver converter stations for Irish - Europe grid connection. This strengthens the security of electricity supply in France and Ireland and facilitate the integration of renewable energy sources into the European electricity grid. The order value for Siemens Energy is in the mid three-digit million-euro range. The interconnector is jointly developed by EirGrid, the electricity transmission system operator in Ireland, and its French counterpart, RTE.
• The new HVDC voltage-sourced converter installed in South Korea
In July, 2022, the new HVDC voltage-sourced converter installed in South Korea by GE Grid Solutions and KAPES, a KEPCO-GE joint venture. This joint venture said to deliver a 500-MW Back-to-Back Voltage Sourced Converter (VSC) High Voltage Direct Current (HVDC) link in Incheon, South Korea. The contract is worth more than US $100 million, said the companies.
• Hitachi Energy signed contract to supply converter stations for SuedLink DC4
In August 2022, Hitachi Energy has secured a contract to deliver a transmission solution for SuedLink DC4, a high-voltage direct current (HVDC) transmission line between Germany's north and south regions. Using Hitachi's HVDC technology, SuedLink DC4 will be able to transmit up to 2GW of clean energy.
Segment Analysis:
The Global HVDC Converter market is segmented into
• By Configuration (Monopolar, Bi-Polar, Back-to-Back, Multi-Terminal)
• By Technology (Line Commutated Converters (LCC), Voltage Source Converters (VSC))
• By Component (Valve, Converter Transformer, Harmonic Filter, Reactor)
• By Application (Industrial, Telecommunication, Medical, Oil & gas industry and others)
• By Configuration, Bi-Polar segment is anticipated to hold largest in the market during the forecast period owing to its increasing usage during requirement of higher energy availability.
Related Report:
• Global Converter Transformer Market - https://www.cognitivemarketresearch.com/converter-transformer-market-report
• Global High Voltage DC-DC Converter Market - https://www.cognitivemarketresearch.com/high-voltage-dc-dc-converter-market-report
• Global Line-Commutated Converters Market - https://www.cognitivemarketresearch.com/line-commutated-converter-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company:
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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