HVDC Converter Station – New Revenue Pockets
Rapid increase in offshore wind farms and the rise in the demand for efficient power transmission are some of the factors driving the market demand for HVDC converter station. The market is intended to grow with rapid increase in government incentive policies to establish HVDC converters station. With increasing policies imposed, the major operators are forced to implement improved and effective power transmission. The HVDC converter station market is therefore expected to show a sound growth in the coming years.
Europe is the largest market for HVDC converter station system, followed by Asia Pacific. The increase in overhead and underground activities, along with higher efficiency in power transmission, is resulting in the higher demand for power supply in HVDC form. The global HVDC converter station market is expected to reach around $12.7 billion by 2019, growing at a CAGR of 5.1% for the period 2014 to 2019. The boom in the HVDC converter station market provides a promising opportunity for HVDC component manufacturers.
Related 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
https://www.marketsandmarkets.com/Market-Reports/hvdc-converter-station-market-243369221.html
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