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HVDC Converter Stations Market 2023 : Trends, Business Growth And Major Driving Factors | Hitachi Energy Ltd., Siemens Energy AG, Bharat Heavy Electricals Limited, GE Grid Solutions LLC, Mitsubishi Electric Corporation
HVDC Converter Stations Global Market
The Business Research Company's HVDC Converter Stations Global Market Report 2023 identifies the Growth in the renewable energy sector is expected to propel the growth of the HVDC converter stations market going forward. Renewable energy refers to the energy produced from natural sources that are replenished at a faster rate than it is consumed. HVDC converter is used for effective integration, transmission, and distribution of renewable energy over a longer distance, increases grid stability, and aids in the transition to a more sustainable and decarbonized energy system with minimum energy loss.
The global HVDC converter stations market size is expected to grow from $11.23 billion in 2022 to $12.28 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global HVDC converter stations market size is expected to reach $16.8 billion in 2027 at a CAGR of 8.1%.
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Major players in the HDVC converter stations market are Hitachi Energy Ltd., Siemens Energy AG, Bharat Heavy Electricals Limited, GE Grid Solutions LLC, Mitsubishi Electric Corporation, Toshiba Corporation, NR Electric Co. Ltd., China Electric Power Research Institute (CEPRI), Hyosung Corporation, Alstom, Nissin Electric Co. Ltd., XJ Group Corporation, LS Industrial Systems Co. Ltd., Excelitas Technologies, and Matsusada Precision Inc.
A key trend in the HVDC Converter Stations market includes the strategic partnership is a key trend gaining popularity in the HVDC converter station market. Major companies operating in the HVDC converter stations market are focused on partnerships and collaborations to strengthen and sustain their position in the market.
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The HVDC Converter Stations market is segmented -
1) By Type: Monopolar, Bi-Polar, Back-To-Back, Multi-Terminal
2) By Component: Valve, Converter Transformer, Circuit Breakers, Harmonic Filters, Surge Arresters, Reactors, Other Components
3) By Technology: Line Commutated Converters, Voltage Source Converters
4) By Capacity: < 500 MW, = 500 MW - 1,000 MW, > 1,000 MW - 3,000 MW, > 3,000 MW
5) By Application: Power Industry, Oil And Gas, Powering Island And Remote Loads, Interconnecting Networks
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the HVDC Converter Stations market.
The Business Research Company's "Global HVDC Converter Stations Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The HVDC Converter Stations Market Include:
1. Executive Summary
2. HVDC Converter Stations Market Characteristics
3. HVDC Converter Stations Market Trends And Strategies
4. HVDC Converter Stations Market - Macro Economic Scenario
5. HVDC Converter Stations Market Size And Growth
……
27. HVDC Converter Stations Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The HVDC Converter Stations Market
29. HVDC Converter Stations Market Future Outlook and Potential Analysis
30. Appendix
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