HOME Top Market Reports Converter Transformer Market by Configuration (Back-to-Back, Monopolar, Bipolar, and Multi-terminal), Voltage level, Application (Windfarms, Oil & Gas, and Grid interconnections), Power rating, and by Region - Global trends and forecast to 2020

Converter Transformer Market by Configuration (Back-to-Back, Monopolar, Bipolar, and Multi-terminal), Voltage level, Application (Windfarms, Oil & Gas, and Grid interconnections), Power rating, and by Region - Global trends and forecast to 2020

By: marketsandmarkets.com
Publishing Date: August 2015
Report Code: EP 3639

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Converter transformer market is mainly driven by the increasing demand from fast growing economies such as India, and China which are expected to invest heavily in their transmission and distribution sector. Upgrade of ageing power infrastructure in the developed regions as well as increasing implementation of renewable power projects are also expected to provide attractive opportunities for the converter transformer market. This market is expected to grow from an USD 1 Billion in 2015 to USD 2.3 Billion by 2020 at CAGR of 18.2%.

The Converter transformer market report has been segmented on the basis of

  • Application
  • Voltage level
  • Configuration
  • Power rating
  • Region

On the basis of application: The report considers different applications of converter such as grid interconnections, which occupy around two-thirds of the total market, windfarms, and oil & gas industry.

On the basis of configuration: Under this segmentation, the report considers various configurations of the converter substation such as monopolar, bipolar, back-to-back, and multi-terminal converter transformers.

On the basis of voltage level: Up to 200 kV, 201–400 kV, 401–600 kV, 601–800 kV, and 800+ kV voltage level ranges have been considered in this segment.

On the basis of power rating: Under this segmentation, the report considers various power rating ranges such as below 500 MW, 501–999 MW, 1001–2000 MW, and above 2000 converter transformers.

On the basis of region: The regions analyzed in the report include Asia-Pacific, Americas comprising of both North America and South America, and Europe.

The report caters to converter transformers manufacturers, dealers, and suppliers, raw material providers, consulting companies in the energy and power sector, government and research organizations, government utility providers, private utility providers, private customers, venture capital firms, and investment banks. Growing renewable energy sector, particularly wind energy, and increasing demand for efficient transmission technologies are the major factors driving the converter transformer market. The report also provides insights about the major players of the market and the growth strategies adopted by them. The leading players of the market such as ABB Ltd. (Switzerland), General Electric (U.S.), Siemens (Germany), and Crompton Greaves (India) among others have been profiled in this report.

HVDC Converter Transformer Market

Asia–Pacific held the largest share in the converter transformer market in 2014. It is also expected to be the fastest growing market at a CAGR of 19.7% from 2015 to 2020. Europe is expected to be the second fastest growing market, at a CAGR of 18.2% during the forecast period. Upgrade of ageing power sector is the expected to be a key factor for growth in the European region.

The report also offers the following customizations:

  • Regional analysis and further country wise segmentation of regional market.

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Markets Covered
           1.3.1 Markets Covered: Converter Transformer Market
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
                    2.2.1.1 Top-Down Approach
                    2.2.1.2 Bottom-Up Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Market Opportunities in the Converter Transformer Market
    4.2 Converter Transformer Market, By Configuration
    4.3 Converter Transformer Market, By Region
    4.4 Converter Transformer Market, By Power Rating
    4.5 Converter Transformer Market, By Application

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Converter Transformer Market Segmentation
           5.2.1 By Power Rating
           5.2.2 By Configuration
           5.2.3 By Voltage Level
           5.2.4 By Application
           5.2.5 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Demand for Efficient Transmission Solutions
                    5.3.1.2 Need for Integration of Grid Infrastructure
                    5.3.1.3 Rising Government Investments
           5.3.2 Restraints
                    5.3.2.1 High Capital Requirements
                    5.3.2.2 Absence of Standardization
           5.3.3 Opportunities
                    5.3.3.1 Rapid Increase in Offshore Wind Farms
                    5.3.3.2 Rising Environmental Concern Towards High Power Transmission
           5.3.4 Challenges
                    5.3.4.1 Lengthy Approval Procedures for Hvdc Projects
           5.3.5 Impact Analysis of Market Dynamics

6 Industry Trends (Page No. - 44)
    6.1 Introduction
    6.2 Supply Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Degree of Competition

7 Global Converter Transformer Market, By Configuration (Page No. - 48)
    7.1 Introduction
    7.2 Monopolar
    7.3 Back-To-Back
    7.4 Bipolar
    7.5 Multi-Terminal

8 Global Converter Transformer Market, By Power Rating (Page No. - 58)
    8.1 Introduction
    8.2 Below 500 MW
    8.3 501 MW–999 MW
    8.4 1000 MW–2000 MW
    8.5 Above 2000 MW

9 Converter Transformer Market, By Voltage Level (Page No. - 68)
    9.1 Introduction
    9.2 201-400 Kv
    9.3 401-600 Kv
    9.4 601-800 Kv

10 Converter Transformer Market, By Application (Page No. - 73)
     10.1 Introduction
     10.2 Windfarms
     10.3 Oil & Gas
     10.4 Grid Connections

11 Converter Transformer Market, By Region (Page No. - 80)
     11.1 Introduction
     11.2 Americas
     11.3 Asia-Pacific
     11.4 Europe

12 Competitive Landscape (Page No. - 92)
     12.1 Overview
     12.2 Analysis of Market Developments
     12.3 Competitive Situation & Trends
     12.4 Contracts & Agreements
     12.5 New Product Developments
     12.6 Mergers & Acquisitions
     12.7 Other Developments

13 Company Profiles (Page No. - 101)
     13.1 Introduction
     13.2 ABB Ltd.
     13.3 General Electric
     13.4 Tebian Electric Apparatus Stock Company Ltd.
     13.5 Siemens AG
     13.6 Crompton Greaves Ltd.
     13.7 Bharat Heavy Electricals Limited
     13.8 Toshiba
     13.9 Kirloskar Electric Company Limited
     13.10 Shadong Power Equipment Company Limited
     13.11 XIAN XD Transformer Co. Ltd

14 Appendix (Page No. - 124)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Introducing RT: Real Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports


List of Tables (69 Tables)

Table 1 Converter Transformer Market Size, By Configuration, 2013–2020 (USD Million)
Table 2 Monopolar: Converter Transformer Market Size, By Power Rating, 2013–2020(USD Million)
Table 3 Monopolar: Converter Transformer Market Size, By Region, 2013–2020 (USD Million)
Table 4 Monopolar: Converter Transformer Market Size, By Application, 2013–2020 (USD Million)
Table 5 Monopolar: Converter Transformer Market Size, By Technology, 2013–2020 (USD Million)
Table 6 Back-To-Back: Converter Transformer Market Size, By Power Rating, 2013–2020 (USD Million)
Table 7 Back-To-Back: Converter Transformer Market Size, By Region, 2013–2020 (USD Million)
Table 8 Back-To-Back: Converter Transformer Market Size, By Application, 2013–2020 (USD Million)
Table 9 501MW-999MW: Converter Transformer Market Size, By Technology, 2013–2020 (USD Million)
Table 10 Bipolar: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 11 Bipolar: By  Market Size, By Region, 2013–2020(USD Million)
Table 12 Bipolar: By  Market Size, By Application, 2013–2020 (USD Million)
Table 13 Bipolar: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 14 Multi-Terminal: By  Market Size, By Configuration, 2013–2020(USD Million)
Table 15 Multi-Terminal: By  Market Size, By Region, 2013–2020 (USD Million)
Table 16 Multi-Terminal: By  Market Size, By Application, 2013–2020 (USD Million)
Table 17 Multi-Terminal: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 18 By  Market Size, By Power Rating, 2013–2020(USD Million)
Table 19 Below 500 MW: By  Market Size, By Configuration, 2013–2020 (USD Million)
Table 20 Below 500 MW: By  Market Size, By Region, 2013–2020 (USD Million)
Table 21 Below 500 MW: By  Market Size, By Application, 2013–2020 (USD Million)
Table 22 Below 500 MW: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 23 501 MW – 999 MW: By  Market Size, By Configuration, 2013–2020 (USD Million)
Table 24 501 MW–999 MW: By  Market Size, By Region, 2013–2020 (USD Million)
Table 25 501 MW–999 MW: By  Market Size, By Application, 2013–2020 (USD Million)
Table 26 501 MW–999 MW: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 27 1000 MW–2000 MW: By  Market Size, By Configuration, 2013–2020 (USD Million)
Table 28 1000 MW–2000 MW: By  Market Size, By Region, 2013–2020 (USD Million)
Table 29 1000 MW–2000 MW: By  Market Size, By Application, 2013–2020 (USD Million)
Table 30 1000 MW–2000 MW: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 31 Above 2000 MW: By  Market Size, By Configuration, 2013–2020 (USD Million)
Table 32 Above 2000 MW: By  Market Size, By Region, 2013–2020(USD Million)
Table 33 Above 2000 MW: By  Market Size, By Application, 2013–2020 (USD Million)
Table 34 Above 2000 MW: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 35By  Market Size, By Voltage Level, 2013-2020 (USD Million)
Table 36 Up to 200 Kv: By  Market Size, By Region, 2013-2020 (USD Million)
Table 37 201–400 Kv: By  Market Size, By Region, 2013-2020 (USD Million)
Table 38 401–600 Kv: By  Market Size, By Region, 2013–2020 (USD Million)
Table 39 601–800 Kv: By  Market Size, By Region, 2013-2020 (USD Million)
Table 40 By  Market Size, By Application, 2013-2020 (USD Million)
Table 41 Windfarms: By  Market Size, By Region, 2013-2020 (USD Million)
Table 42 Windfarms: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 43 Windfarms: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 44 Oil & Gas: By  Market Size, By Region, 2013–2020 (USD Million)
Table 45 Oil & Gas: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 46 Oil & Gas: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 47 Grid Connections: By  Market Size, By Region, 2013-2020 (USD Million)
Table 48 Grid Connections: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 49 Grid Connections: By  Market Size, By Power Rating, 2012–2019 (USD Million)
Table 50 Converter By  Market Size, By Region, 2013-2020 (USD Million)
Table 51 Americas: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 52 Americas: By  Market Size, By Voltage Level, 2013-2020 (USD Million)
Table 53 Americas: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 54 Americas: By  Market Size, By Application, 2013-2020 (USD Million)
Table 55 Americas: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 56 Asia-Pacific: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 57 Asia-Pacific: By  Market Size, By Voltage Level, 2013-2020 (USD Million)
Table 58 Asia-Pacific: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 59 Asia-Pacific: By  Market Size, By Application, 2013-2020 (USD Million)
Table 60 Asia-Pacific: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 61 Europe: By  Market Size, By Configuration, 2013-2020 (USD Million)
Table 62 Europe: By  Market Size, By Voltage Level, 2013-2020 (USD Million)
Table 63 Europe: By  Market Size, By Power Rating, 2013–2020 (USD Million)
Table 64 Europe: By  Market Size, By Application, 2013-2020 (USD Million)
Table 65 Europe: By  Market Size, By Technology, 2013–2020 (USD Million)
Table 66 Contracts & Agreements 2011-2015
Table 67 New Product Developments 2011-2015
Table 68 Mergers & Acquisitions 2011-2015
Table 69 Other Developments 2011-2015


List of Figures (56 Figures)

Figure 1 Converter Transformer Market: Research Methodology
Figure 2 Breakdown of Primary Interviews: By Company, Designation, & Region
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Estimation Approach & Data Triangulation Methodology
Figure 6 Converter Transformers Market Snapshot (2015 vs 2020): Transformer With Power Rating Above 2000 MW is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 7 Converter Transformer Market Share, By Configuration, 2015-2019 (USD Million)
Figure 8 Converter Transformer Market Size, By Application, 2015-2020 (USD Million)
Figure 9 Global Converter Transformer Market Share, 2014*
Figure 10 Emerging Economies Present Promising Markets
Figure 11 Multi-Terminal Configuration Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 12 Asia-Pacific is Expected to Grow With the Highest CAGR During the Forecast Period
Figure 13 Market for Converter Transformers With Power Rating Above 2000 MW is Expected to Remain Dominant Till 2020
Figure 14 Increasing Demand for Offshore Windfarms to Boost the Converter Transfomer Market
Figure 15 Converter Transformer Market Segmentation
Figure 16 Market Segmentation: By Power Rating
Figure 17 Market Segmentation: By Configuration
Figure 18 Market Segmentation: By Voltage Level
Figure 19 Market Segmentation: By Application
Figure 20 Market Segmentation: By Region
Figure 21 Converter Transformer Market Dynamics
Figure 22 Comparison of Ac and Dc Transmission Costs
Figure 23 World Offshore Wind Power Capacity (MW), 2003-2014
Figure 24 Impact of Market Dynamics
Figure 25 Converter Transformer Market: Supply Chain Analysis
Figure 26 Porter’s Five Forces Analysis: Converter Transformer Market
Figure 27 Converter Transformer Market Size, By Configuration, 2013-2020 (USD Million)
Figure 28 Schematic Diagram of Monopolar Converter
Figure 29 Schematic for Back-To-Back Converter
Figure 30 Schematic of Bipolar Converter
Figure 31 Schematic Diagram of Multi-Terminal Converter
Figure 32 Converter Transformer Market Size, By Power Rating 2013 - 2020 (USD Million)
Figure 33 Converter Transformer Market Size, 2013-2020 (USD Million)
Figure 34 Above 800 Kv: Converter Transformer Market Size, By Region, 2013–2020 (USD Million)
Figure 35 Converter Transformer Market Size, By Application, 2013-2020 (USD Million)
Figure 36 Regional Snapshot (2015 – 2020) – Asia-Pacific Market Set to Grow at the Fastest Pace Among Other Regions
Figure 37 Converter Transformer Market Size, 2013-2020 (USD Million)
Figure 38 1001 – 2000 MW Rated Transformers Held the Largest Share in Americas Market
Figure 39 Above 2000 MW Rated Transformer Held the Largest Share in the Asia-Pacific Market in 2014
Figure 40 Bipolar Configuration Transformers Held the Largest Share Within the European Market in 2014
Figure 41 Companies Adopted Various Growth Strategies in the Past Four Years, 2011 -2015
Figure 42 Market Leaders Based on the Developments 2011-2015
Figure 43 Market Evolution Framework: Contracts & Agreements and New Product Development are Major Strategies Adopted By Key Players
Figure 44 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By the Key Players
Figure 45 Regional Revenue Mix of Top Market Players
Figure 46 ABB Ltd.: Company Snapshot
Figure 47 ABB Ltd.: SWOT Analysis
Figure 48 General Electric: Company Snapshot
Figure 49 General Electric: SWOT Analysis
Figure 50 Siemens AG: Company Snapshot
Figure 51 Siemens AG: SWOT Analysis
Figure 52 Crompton Greaves: Company Snapshot
Figure 53 Crompton Greaves Ltd.: SWOT Analysis
Figure 54 Bharat Heavy Electricals Limited: Company Snapshot
Figure 55 Toshiba: Company Snapshot
Figure 56 Kirloskar Electric Company Limited: Company Snapshot

There has been a rapid growth in demand for energy following increased population and industrial need for electricity in the past few years. With the increasing need of energy transmission over long distances, HVDC technology is expected to play a pivot role in the future globally. HVDC transmission facilitates high voltage electricity transmission between generation and consumption centers over long distances. Owing to the stringent environmental regulations being adopted across countries, there is a growing need for cable-based transmission instead of overhead lines for transmitting power over long distances. Also, energy generation from renewable sources such as offshore wind farms, hydel plants, and remotely located solar panels is expected to witness an exponential growth rate in the next decade. With continued high investments in HVDC transmission technology, the market for Converter transformers is expected to grow at a fast pace. The Converter transformer market is estimated to reach USD 2,136.1 Million at a high CAGR of 18.2% from 2015 to 2020.

The converter transformer is one of the most important components in an HVDC converter station. Converter transformer plays a vital role in terms of total cost of an HVDC converter station, as it affects the performance of the entire connected electric power system. A converter transformer is used to step-up the voltage of the AC supply network. It acts as an interface between the AC system and the thyristor valves in HVDC systems. A major advantage of an Converter transformer is that, it acts as a galvanic barrier between the AC and DC system to prevent the DC potential to enter the AC systems. It also transforms voltage between the AC supply and the HVDC system.

The Converter transformer market can be segmented on the basis of the application which includes grid interconnections, windfarms, and oil & gas. Converter transformer market can also be categorized on the basis of the substation configuration into monopolar, bipolar, back-to-back, and multi-terminal. On the basis of power rating the market for converter transformers has been segmented as below 500 MW, 501–999 MW, 1000–2000 MW, and above 2000 MW range of power rating.

HVDC Converter Transformer Market

Grid interconnections application has held the major share within Converter transformer market in 2014. It is expected to continue its dominance till 2020 on account of high growth expectations in the next half a decade. Windfarms application is expected to achieve the highest growth rate within the Converter transformer market. Increased focus on renewable energy sector, particularly wind energy generation, is a prime factor driving the market for this application.

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