HOME Top Market Reports HVDC Converter Station Market by Type (Monopolar, Bi-Polar, Back to Back, and Multi-Terminal), by Technology (Line Commutated Current Sourced Converters and Voltage Source Converters (VSC)), by Application and by Geography - Global Trends & Forecasts to 2019

HVDC Converter Station Market by Type (Monopolar, Bi-Polar, Back to Back, and Multi-Terminal), by Technology (Line Commutated Current Sourced Converters and Voltage Source Converters (VSC)), by Application and by Geography - Global Trends & Forecasts to 2019

By: marketsandmarkets.com
Publishing Date: July 2014
Report Code: EP 2577

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There are basically two types of technologies present in the transmission of high power: High Voltage Alternate Current (HVAC) and High Voltage Direct Current (HVDC). HVAC has been addressing the transmission requirements particularly well. However, for technical and economic aspects, HVDC has inherent attributes that makes it more convenient and efficient than HVAC to transmit power from renewable sources which are located in remote areas.

The global HVDC converter station market is projected to reach USD 38.55 Billion by 2019, and is expected to grow at a CAGR of 18.18% from 2014 to 2019. The market is mainly driven by factors such as rapid increase in offshore wind farms, increase in government incentive policy to establish HVDC converter station, increasing demand for efficient power transmission, and increasing need for connecting asynchronous grids. The HVDC converter stations are differentiated on the basis of type of configuration and architecture of components. Types of configuration considered in the scope of the report are monopolar, bipolar, back-to-back, and multi-terminal. Currently, bipolar configuration held the largest market size and is expected to continue holding the largest position during the forecast period.

The HVDC converter station market is segmented on the basis of configuration, component, power rating, voltage level, technology, applications and region. The years considered for the study are:

  • Base Year – 2013
  • Estimated Year – 2014
  • Projected Year – 2019
  • Forecast period – 2014 to 2019

For company profiles in the report, 2013 has been considered as the base year. However, where information is unavailable for base year, the previous year has been considered as base year.

Research Methodology:

Extensive secondary sources, directories, and databases, such as IEEE websites, IEA website, TD world, EIA websites, Company Annual Reports, Bloomberg BusinessWeek, and Factiva, have been used to identify and collect information for this technical, market-oriented, and commercial study of the global HVDC converter station market. Below is the explained research methodology:

  • Analysis of all the operational and upcoming HVDC converter station projects across the globe along with its type/capacity
  • Analysis of the high voltage interconnection transmission links, offshore windfarms, underground power links across various regions
  • Estimation of project costs in various regions of various manufacturing companies and suppliers, and state and privately owned power utilities
  • Estimation of total projects across various regions and arriving at the total market size using market engineering process
  • Analyzing market trends in various regions/countries supported by the on-going T&D infrastructure spending in respective regions/countries
  • Overall market size values are finalized by triangulation with the supply side data which include the product developments, supply chain and annual contracts for HVDC converter station across the globe

The figure below shows the break-down of the primaries on the basis of company, designation, and region, conducted during the research study.

Market Ecosystem:

The HVDC converter station market ecosystem starts with the raw material suppliers that offer steel, aluminum, valves, rectifiers, semiconductor devices, etc. The raw materials are then transported to the equipment manufacturers for HVDC converter stations. The HVDC converter station equipment are then dispatched to the transmission network service providers or operators and further distributed to the smaller substation operators. Lastly, this electricity from transmission and distribution system reaches end customers such as retail consumers, industries, and utilities.

HVDC Converter Station Market

Stakeholders:

The stakeholders of the report include:

  • Raw material suppliers – these include Bharat Forge (India), Sesa Sterlite Ltd. (India), TATA Steel (India), and Powerex (Canada) among others
  • Manufacturers – these include ABB Ltd. (Switzerland), Siemens AG (Germany), Alstom SA (France), General Electric Company (U.S.), and Hitachi Ltd. (Japan) among others

Scope of the Report:

This study estimates the global market of HVDC converter station, in terms of dollar value, till 2020

  • On the basis of Configuration
    • Monopolar
    • Bipolar
    • Back-to-Back
    • Multi-terminal
  • On the basis of Component
    • Converter Transformer
    • Valves
  • On the basis of Voltage Level
    • 200kV
    • 201kV-400kV
    • 401kV-600kV
    • 601kV-800kV
    • Above 800kV
  • On the basis of Power Rating
    • 0-500MW
    • 501MW-999MW
    • 1000MW-2000MW
    • 2000+ MW
  • On the basis of Technology
    • LCC
    • VSC
  • On the basis of Application
    • Underground Power links
    • Powering Island and Remote Loads
    • Connecting Wind Farms
    • Interconnecting Networks
    • Oil & Gas Platforms
  • Region
    • Asia-Pacific
    • America
    • Europe

Available Customization

With the market data provided above, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Further breakdown of region/country-specific analysis

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table Of Contents

1 Introduction
    1.1 Key Takeaways
    1.2 Analyst Insights
    1.3 Report Description
    1.4 Markets Covered
    1.5 Research Methodology
          1.5.1 Approach
          1.5.2 Market Size Estimation
          1.5.3 Market Crackdown and Data Triangulation
          1.5.4 Key Data Points Taken From Secondary Sources
          1.5.5 Key Secondary Sources Used
          1.5.6 Key Data Points Taken From Primary Sources
    1.6 Stakeholders
    1.7 Assumptions

2 Executive Summary

3 Premium Insights
    3.1 Market Segments
    3.2 Global HVDC Converter Station Market Overview (2013 Vs 2019)

4 Market Overview
    4.1 Introduction
          4.1.1 Trends
          4.1.2 Outlook
    4.2 History & Evolution
    4.3 Market Statistics

5 Market Analysis
    5.1 Introduction
    5.2 Market Dynamics
          5.2.1 Drivers
                   5.2.1.1 Rapid Increase in Offshore Wind Farms
                   5.2.1.2 Increase in Government Incentive Policy to Establish HVDC
                   5.2.1.3 Increasing Demand For Efficient Power Transmission
                   5.2.1.4 Increasing Need For Connecting Asynchronous Grids
          5.2.2 Restraints
                   5.2.2.1 Expensive HVDC Components
                   5.2.2.2 Higher Capital Investment Required to Establish HVDC Converter Stations
                   5.2.2.3 Lack of Standardization and Technological Risks of HVDC Industry
                   5.2.2.4 Lengthy Approval Processes For Transmission Projects Affects HVDC Substation Growth
          5.2.3 Opportunities
                   5.2.3.1 Advancement  in Technology With Growing Greener Sources of Energy Generation
                   5.2.3.2 Ageing Power Infrastructure
                   5.2.3.3 Rising Environmental Concern towards High Power Transmission
    5.3 Winning Imperatives
           5.3.1 Advancement of Underwater HVDC Cable
           5.3.2 Escalating Interoperability Between the Neighboring Network
    5.4 Burning Issues
    5.5 Value Chain Analysis
           5.5.1 Raw Material Suppliers
           5.5.2 Original Equipment Manufacturers
           5.5.3 Operators
           5.5.4 End Users
    5.6 Porter’s Five Forces Analysis
          5.6.1 Threat of New Entrant
          5.6.2 Supplier’s Power
          5.6.3 Threat of Substitutes
          5.6.4 Buyer’s Power
          5.6.5 Degree of Competition

6 HVDC Converter Station Market, By  Type
    6.1 Introduction
    6.2 Global HVDC Converter Station Market, By Type (2012–2019)
           6.2.1 Monopolar
           6.2.2 Bipolar
           6.2.3 Back to Back
           6.2.4 Multiterminal

7 HVDC Converter Station Market, By  Technology
    7.1 Line Commutated Converter (LCC)
    7.2 Voltage Source Converter (VSC)

8 HVDC Converter Station Market, By Geography
    8.1 Introduction
    8.2 Global HVDC Converter Station Market, By Geography (2012–2019)
           8.2.1 Americas HVDC Converter Station Market, By Geography (2012–2019)
           8.2.2 Europe HVDC Converter Station Market, By Geography (2012–2019)
           8.2.3 Asia-Pacific HVDC Converter Station Market, By Geography (2012–2019)

9 HVDC Converter Station Market, By Applications
    9.1 Introduction
    9.2 Global Converter Station Market, By Applications (2012–2019)
           9.2.1 Underground Power Links
           9.2.2 Powering  Island & Remote Loads
           9.2.3 Connecting Winds Farms
           9.2.4 Interconnecting Networks
           9.2.5 Oil & Gas offshore Platform

10 Competitive Landscape
    10.1 Introduction
    10.2 “Xyz” Lead the Way
    10.3 Acquisition
    10.4 Expansion
    10.5 Contract Agreement
    10.6 Joint Venture

11 Company Profile
    11.1 ABB Ltd
          11.1.1 Introduction
          11.1.2 Products and Services
          11.1.3 MNM View
          11.1.4 SWOT Analysis
          11.1.5 Strategy & Insights
          11.1.6 Developments
    11.2 Alstom, SA
          11.2.1 Introduction
          11.2.2 Products and Services
          11.2.3 MNM View
          11.2.4 SWOT Analysis
          11.2.5 Strategy & Insights
          11.2.6 Developments
    11.3 Bharat Heavy Electricals Ltd
          11.3.1 Introduction
          11.3.2 Products and Services
          11.3.3 MNM View
          11.3.4 SWOT Analysis
          11.3.5 Strategy & Insights
          11.3.6 Developments
    11.4 Crompton Greaves
          11.4.1 Introduction
          11.4.2 Products and Services
          11.4.3 MNM View
          11.4.4 SWOT Analysis
          11.4.5 Strategy & Insights
          11.4.6 Developments
    11.5 General Electric
          11.5.1 Introduction
          11.5.2 Products and Services
          11.5.3 MNM View
          11.5.4 SWOT Analysis
          11.5.5 Strategy & Insights
          11.5.6 Developments
    11.6 Hitachi Ltd
          11.6.1 Introduction
          11.6.2 Products and Services
          11.6.3 Strategy & Insights
          11.6.4 Developments
    11.7 Mitsubishi Electric
          11.7.1 Introduction
          11.7.2 Products and Services
          11.7.3 Strategy & Insights
          11.7.4 Developments
    11.8 Nissin Electric Co Ltd
          11.8.1 Introduction
          11.8.2 Products and Services
          11.8.3 Strategy & Insights
          11.8.4 Developments
    11.9 Siemens
          11.9.1 Introduction
          11.9.2 Products and Services
          11.9.3 Strategy & Insights
          11.9.4 Developments
    11.10 Toshiba
          11.10.1 Introduction
          11.10.2 Products and Services
          11.10.3 Strategy & Insights
          11.10.4 Developments

List of Tables (60 Tables)

Table 1 Global HVDC Transmission Market Revenue, By Configuration, 2012 – 2018 ($Million)
Table 2 Global HVDC Grid Market Revenue, By Power Rating, 2012 – 2018 ($Million)
Table 3 Comparative Analysis of Lcc & Vsc HVDC Converter Technologies
Table 4 Below 500 MW: Global HVDC Converters Market Revenue, By Configuration, 2012 - 2019 ($Million)
Table 5 Below 500 MW: Global HVDC Converters Market Revenue, By Geography, 2012 - 2019 ($Million)
Table 6 Below 500 MW: HVDC Project
Table 7 501 MW - 999 MW: Global HVDC Converters Market Revenue, By Configuration, 2012 - 2019 ($Million)
Table 8 501 MW - 999 MW: Global HVDC Converters Market Revenue, By Geography, 2012 - 2019 ($Million)
Table 9 501 MW –999 MW : HVDC Project
Table 10 1000 MW - 2000 MW: Global HVDC Converters Market Revenue, By Configuration, 2012 - 2019 ($Million)
Table 11 1000 MW - 2000 MW: Global HVDC Converters Market Revenue, By Geography, 2012 - 2019 ($Million)
Table 12 1000 MW –2000 MW : HVDC Project
Table 13 Above 2000 MW: Global HVDC Converters Market Revenue, By Configuration, 2012 - 2019 ($Million)
Table 14 Above 2000 MW: Global HVDC Converters Market Revenue, By Geography, 2012 - 2019 ($Million)
Table 15 Above 2000 MW : HVDC Project
Table 16 Global HVDC Converter Station Market, By Geography 2012-2019 ($ Million)
Table 17 America HVDC Converters Station By Type 2012-2019 ($ Million)
Table 18 Asia-Pacific HVDC Converters Station By Type 2012-2019 ($ Million)
Table 19 Europe HVDC Converters Station By Type 2012-2019 ($ Million)
Table 20 Global HVDC Monopolar System By Region 2012-2019 ($ Million)
Table 21 Global HVDC Bi-Polar System By Region 2012-2019 ($ Million)
Table 22 Global HVDC Back to Back System By Region 2012-2019 ($ Million)
Table 23 Global HVDC Multi-Terminal System By Region 2012-2019 ($ Million)
Table 24 Global HVDC Converter Transformer Market, By Geography 2012-2019
Table 25 America HVDC Conveter Transformer Market By Type 2012-2019 ($ Million)
Table 26 Asia-Pacific HVDC Conveter Transformer Market By Type 2012-2019 ($ Million)
Table 27 Europe HVDC Conveter Transformer Market By Type 2012-2019 ($ Million)
Table 28 Global HVDC Thyristor Market By Geography 2012-2019 ($ Million)
Table 29 America HVDC Thyristor Market By Type 2012-2019 ($ Million)
Table 30 Asia-Pacific HVDC Thyristor Market By Type 2012-2019 ($ Million)
Table 31 Europe HVDC Thyristor Market By Type 2012-2019 ($ Million)
Table 32 Global HVDC Transistor Market By Geography 2012-2019 ($ Million)
Table 33 America HVDC Transistor Market By Type 2012-2019 ($ Million)
Table 34 Asia-Pacific HVDC Transistor Market By Type 2012-2019 ($ Million)
Table 35 Europe HVDC Transistor Market By Type 2012-2019 ($ Million)
Table 36 Equipment Supply, 2011-2014
Table 37 Contract Agreements, 2011-2014
Table 38 New Product Launch, 2010-2014
Table 39 Mergers, Joint Ventures & Acquisitions, 2011-2013
Table 40 Other Develpments 2012-2014
Table 41 ABB : Products & Services
Table 42 Developments
Table 43 Alstom : Products & Services
Table 44 Developments
Table 45 BHEL : Products & Services
Table 46 Developments
Table 47 Crompton Greaves : Products & Services
Table 48 Developments
Table 49 General Electric : Products & Services
Table 50 Developments
Table 51 Hitachi Ltd. : Products & Services
Table 52 Developments
Table 53 Mitsubishi Electric : Products & Services
Table 54 Developments
Table 55 Nissin Electric Co. Ltd. : Products & Services
Table 56 Developments
Table 57 Siemens : Products & Services
Table 58 Developments
Table 59 toshiba : Products & Services
Table 60 Developments
 
List of Figures (19 Figures)

Figure 1 Research Methodology
Figure 2 Market Crackdown & Data Triangulation
Figure 3 Global Electricity Generation and Consumption Growth, 2010-2019 (%)
Figure 4 World Net Electricity Generation By Fuel, 2010-2020 (Trillion Kilowatthours)
Figure 5 Impact Analysis of the Drivers
Figure 6 "World Cumulative Installed offshore Wind Power Capacity and Annual Addition (In MW), 2003-2013
Figure 7 Impact Analysis of the Restraints
Figure 8 HVDC Transmission Cost Analysis
Figure 9 Net Renewable Electricity Generation By Energy Source (In Billion Kilowatthours), 2010-2020
Figure 10 Value Chain Analysis of HVDC Converter Station Market
Figure 11 Porter’s Five Force Analysis
Figure 12 "HVDC Converter Station Market, By Growth Strategies  2010-2014
Figure 13 Year Wise Growth Strategies, 2010–2014
Figure 14 Company Wise Development Strategies, 2010-2014
Figure 15 Equipment Supply, 2011-2014
Figure 16 Contract Agreements, 2011-2014
Figure 17 New Product Launch, 2010-2014
Figure 18 Mergers, Joint Ventures & Acquisitions, 2011-2013
Figure 19 Other Develpments 2012-2014

The Global HVDC Converter Station market is growing with rapid increase in power demand, increase in government incentive policy, low power transmission losses and technological advancement. The companies are trying hard to grow the market economically through joint ventures, merger & acquisitions etc. The HVDC Converter Station market is estimated to reach about $12.7 billion by 2019.

The report focuses on HVDC converter station market by type, technology, and geography. The value of the market for market is analyzed in detail for all major countries. The study covers different strategies such as contract agreements, equipment supply, mergers & acquisition, geographical expansions, and others. Siemens (Germany), ABB Ltd. (Switzerland), Alstom (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves (India), General Electric (U.S.), and Hitachi Ltd. (Japan) are the dominant market leaders that provide these converter stations.

As per the analysis, Europe is the biggest market for HVDC Converter Station followed by Asia-Pacific and America regions. The CAGR of the HVDC converter station market is expected to grow at 5.1% between 2014 and 2019. By the end of 2019, the market is expected to be dominated by the Asia-Pacific region.

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