Press release
HVDC Converter Stations Market Share, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
HVDC Converter Stations Market Share
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10690&type=smp
According to The Business Research Company's, The HVDC converter stations market size has grown strongly in recent years. It will grow from $12.28 billion in 2023 to $13.39 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to long-distance power transmission, urbanization and power demand, cross-border power transmission, government initiatives and policies, grid stability and reliability.
The HVDC converter stations market size is expected to see strong growth in the next few years. It will grow to $18.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to global electrification trends, enhanced grid resilience, smart grid integration, carbon neutrality goals, interconnection of power networks. Major trends in the forecast period include growing renewable energy integration, advancements in voltage source converter (VSC) technology, cross-border power transmission projects, technological advancements, digitalization and smart controls.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/hvdc-converter-stations-global-market-report
Market Drivers and Trends:
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. For instance, in October 2023, according to a report by the International Energy Agency, a Paris-based autonomous intergovernmental organization, in world's power generation increased to 22.5% in 2021 and it is expected to increase to 42.5% by 2030. Therefore, the growth in the renewable energy sector is driving the growth of the HVDC converter stations market.
Major companies operating in the HVDC converter station market are focusing on strategic partnership, to provide reliable services to customers. A strategic partnership is an arrangement between two or more companies or organizations that helps each other or work together to achieve their respective goals. For instance, in March 2023, Hitachi Energy, a Japan-based sustainable energy company, partnered with Gulf Cooperation Council Interconnection Authority (GCCIA), a Saudi-Arabia-based sustainable energy company, to upgrade the Al-Fadhili high-voltage direct current (HVDC) converter station will be able to exchange up to 1,800 megawatts of electricity between different states in middle-east. Furthermore, in September 2021, Siemens Energy AG, a Germany-based energy company, and Sumitomo Electric Industries, Ltd., a Japan-based electric wire and optical fiber cable manufacturer, partnered with Greenlink Interconnector Limited, an Ireland-based electricity company. Through these partnerships, companies aim to supply HVDC technology for power links between Ireland and Great Britain, increase power supply security, and foster the integration of renewable energy.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Hitachi Energy Ltd., Siemens Energy AG, Crompton Greaves Limited, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, China XD Group, Hyosung Corporation, Prysmian Group, Shanghai Electric Group Co. Ltd., TBEA Co. Ltd., Alstom, ZTT Group, SNC-Lavalin Group Inc., GE Grid Solutions LLC, LS Industrial Systems Co. Ltd., Fuji Electric Co. Ltd., Bharat Heavy Electricals Limited, Hyundai Electric & Energy Systems Co. Ltd., Excelitas Technologies, Nissin Electric Co. Ltd., Rongxin Power Electronic Co. Ltd., Xiamen Jiyi Electric Co. Ltd., XJ Group Corporation, Matsusada Precision Inc, NRH Research Inc., EFACEC, China Electric Power Research Institute (CEPRI), PSC Industries Limited, NR Electric Co. Ltd., BKK (Bergenshalvøens Kommunale Kraftselskap), NARI Group Corporation, Neelachal Ispat Nigam Limited (NINL), TGOOD Global Ltd., Ramboll Group A/S, ZTT International Limited, Energex Ltd., NKT A/S, Korea Electric Power Corporation
HVDC Converter Stations Market 2024 Key Insights:
• The HVDC converter stations market size is expected to see strong growth in the next few years. It will grow to $18.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Renewable Energy Surge Fuels Robust Growth In HVDC Converter Stations Market
• Strategic Partnerships Fueling Growth In The HVDC Converter Station Market
• Europe was the largest region in the HVDC converter station market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10690&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release HVDC Converter Stations Market Share, Latest Trends, Growth Status, Top Major Players And Forecast To 2033 here
News-ID: 3780047 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for HVDC
HVDC Capacitors Market Surges With Global Demand For Electricity: A Leading Driv …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
What Will the HVDC Capacitor Industry Market Size Be by 2025?
In recent times, the HVDC capacitor market has witnessed significant expansion. The market, which was worth $5.46 billion in 2024, is projected to rise to $6.27 billion in 2025, translating to a compound annual growth rate (CAGR) of 14.8%. This growth in the…
Top 10 HVDC Transmission Companies Analysis (2025)
HVDC Transmission Market study by "The Insight Partners" provides details about the market dynamics affecting the HVDC Transmission Market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. The report segments the global HVDC Transmission Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of…
HVDC Transmission Market Opportunity | Size | Research Report
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- HVDC Transmission Market was valued at USD 7.93 Billion in 2019 and is projected to reach USD 13.34 Billion by 2027, growing at a CAGR of 7.25% from 2020 to 2027.
HVDC Transmission Market Growth Driver
The HVDC (High Voltage Direct Current) transmission market is experiencing significant growth, primarily driven by the increasing demand for efficient and reliable power transmission over long distances. HVDC technology offers numerous advantages…
HVDC Valves Market Size 2024 to 2031.
Market Overview and Report Coverage
The HVDC (High Voltage Direct Current) Valves Market refers to the market for components that are essential for converting alternating current (AC) to direct current (DC) in high voltage transmission systems. These valves play a crucial role in facilitating the efficient transmission of electricity over long distances with minimal losses.
The future outlook for the HVDC Valves Market is quite promising, with a projected growth…
HVDC Capacitor Market
Overview
The HVDC Capacitor Market, with a promising CAGR, employs capacitors for efficient high-voltage direct current power transmission. Government initiatives, demand for HVDC in power transmission, and North America's increasing adoption drive market dynamics.
Market Dynamics
Government initiatives for HVDC systems and escalating demand for HVDC capacitors propel market growth. However, challenges like high costs and low voltage impede progress, emphasizing the need for innovation in this dynamic market.
Download Sample:https://www.datamintelligence.com/download-sample/hvdc-capacitor-market
Rising Demand for HVDC…
HVDC Transmission System Market 2022 | Detailed Report
The market report delivers an all-inclusive analysis of the market structure along with a forecast of the various segments and sub-segments of the HVDC Transmission System industry. This wide-ranging market research report acts as a backbone for the success of business in any niche. The HVDC Transmission System market survey report has been prepared by conducting market research in a systematic manner. Moreover, the HVDC Transmission System report includes a…
