Press release
Modular Multilevel Converter Market to Reach USD 3739 Million by 2031, Fueled by HVDC Growth
Modular Multilevel Converters (MMC) Market SizeThe global market for Modular Multilevel Converters (MMC) was valued at US$ 2326 million in the year 2024 and is projected to reach a revised size of US$ 3739 million by 2031, growing at a CAGR of 7.1% during the forecast period.
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Global key players of Modular Multilevel Converters (MMC) include Siemens Energy, Hitachi Energy, GE Vernova, NARI Technology, Toshiba, etc. The top five players hold a share about 71%. Asia-Pacific is the largest market, and has a share about 53%, followed by Europe and North America with share 25% and 17%, separately. In terms of product type, Half Bridge Type is the largest segment, accounting for a share of 87%. In terms of application, HVDC is the largest field with a share about 59 percent.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
By Type
• Full Bridge Type
• Half Bridge Type
By Application
• HVDC
• FACTS
• Others
Key Companies
Siemens Energy, Hitachi Energy, GE Vernova, NARI Technology, Toshiba, Rongxin Huiko Electric, XJ Electric, Hyosung Heavy Industries, Innomotics, XD Electric, TBEA, Sifang Automation, Mitsubishi Electric
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