About High Voltage DC Converter Station
A high-voltage DC converter is defined as electric power that converts from high-voltage alternating current to high-voltage direct current. HVDC is used in long-distance power transmission lines, submarine cable transmission, etc. There are a wide range of advantages, such as: HVDC has lower line costs, fewer losses, no capacity effects, no synchronization problems, a longer transmission distance, a larger transmission distance capacity, and higher stability. Increasing high power application such as offshore and wind farms has maintained strong upward growth factors of the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 8.1% |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bharat heavy electricals limited (India), GE grid solution LLC. (France), Mitsubishi electric corporation (Japan), Siemens energy (Germany), ABB (Switzerland), Hitachi Energy Ltd (Switzerland), XP Power (Singapore), TDK Lambda corporation (United States), Cincon electronics co, Ltd. (United States), Quail electronic Inc. (United States) and Delta Electronics, Inc. (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Eaton (Ireland), Suzlon Energy Limited (India), Danfoss power solution (United States), Dhoot transmission Pvt.Ltd. (India) and Kohler Co. (United States).
Segmentation Overview
AMA Research has segmented the market of Global High Voltage DC Converter Station market by , Application (Electronic Equipment, Batteries, Solar Panels, Hybrid And Electronics Vehicle and Others) and Region.
On the basis of geography, the market of High Voltage DC Converter Station has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Converter Station will boost the High Voltage DC Converter Station market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industrial Vertical, the sub-segment i.e. Marine Industry will boost the High Voltage DC Converter Station market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Line Commutated Converters (LCC) will boost the High Voltage DC Converter Station market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System Type, the sub-segment i.e. Back-To-Back HVDC Station will boost the High Voltage DC Converter Station market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased electrification transportation like electric vehicles, high speed trains
Market Growth Drivers:
Growing awareness of renewable energy source like solar and wind. and Growing urbanization and rising the demand for electricity.
Challenges:
Environmental impact of constructing large scale transmission infrastructure and Protecting critical infrastructure from cyber attacks
Restraints:
High cost of infrastructure and Lack of standardization in HVDC technology
Opportunities:
Investment in critical infrastructure like solar can and should be done at utility level as well as commercial and residential levels.
Market Leaders and their expansionary development strategies
In July 2023, AcBel has acquired the power conversion division ABB. The power conversion has been essential to powering multiple generations of telecom infrastructure, increased used of cloud computing, EV charging infrastructure. The acquisition presets that to creating cutting-edge technology and strong growth opportunity of business. and In January 2022, Kohler co. has acquired Heila technologies to expands its clean energy management. With this acquisition, leveraging the history of trusted expertise in power resiliency with newer clean energy technologies.
In March 2023, Danfoss adds new data driven dimension to district energy with launched of groundbreaking substation technology in Danfoss titan. The complexity district energy continues to increase with the shift to low temperature district heating and multiple energy sources. and In November 2022, ABB launches ABB ability OPTIMAX, will help hydrogen production companies reduce electricity.
Key Target Audience
Supplier, Manufacturer and Research organization
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.