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PUBLISHER: Grand View Research | PRODUCT CODE: 1530473
PUBLISHER: Grand View Research | PRODUCT CODE: 1530473
HVDC Converter Station Market Size, Share & Trends Analysis Report By Technology (Line Commutated Converter (LCC), Voltage Source Converter (VSC)), By Type (Bi-Polar, Monopolar), By Region, And Segment Forecasts, 2024 - 2030
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HVDC Converter Station Market Trends
The global HVDC converter station market size was estimated at USD 11.85 billion in 2023 and is expected to grow at a CAGR of 4.5% from 2024 to 2030. An increasing demand for efficient long-distance power transmission is significantly driving the growth of HVDC converter station market. HVDC technology offers lower power losses over long distances compared to traditional AC transmission, making it ideal for connecting remote renewable energy sources to population centers. For example, the Rio Madeira HVDC system in Brazil transmits hydroelectric power over 2,375 km, demonstrating the technology's capability in long-distance transmission.
In addition, growing focus on renewable energy integration and grid interconnection is anticipated to positively influence the market over the forecast period. As countries aim to increase their renewable energy capacity, HVDC converter stations play a vital role in connecting offshore wind farms and solar parks to the main grid. For example, the DolWin alpha converter station in the North Sea, connects multiple offshore wind farms to the German grid, showcasing how HVDC technology facilitates the integration of renewable sources.
Moreover, the need for grid stability and power flow control is also propelling the growth of HVDC converter station market. HVDC systems offer better control over power flow, which is especially important in interconnecting asynchronous grids or stabilizing weak AC systems. For example, the Pacific DC Intertie in the U.S., connecting the Pacific Northwest and Southern California, not only transmits power but also enhances grid stability during peak demand periods. In addition, the increasing adoption of smart grid technologies and the modernization of aging power infrastructure in many countries are creating opportunities for HVDC converter station deployments.
Global HVDC Converter Station Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the HVDC converter station market report on the basis of technology, type, and region:
- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Line Commutated Converter (LCC)
- Voltage Source Converter (VSC)
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Bi-Polar
- Monopolar
- Back-to-back
- Multi Terminal
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
- Europe
Germany
UK
France
Italy
Spain
- Asia Pacific
China
India
Japan
South Korea
Australia
- Central & South America
Brazil
- Middle East & Africa
UAE
Product Code: GVR-4-68040-373-8
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. HVDC Converter Station Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration and Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Price Trend Analysis, 2018 to 2030 (USD/Unit)
- 3.4.1. Key Factors Influencing Pricing
- 3.5. Regulatory Framework
- 3.5.1. Standard & Compliance
- 3.5.2. Safety
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry Analysis - Porter's Five Forces Analysis
- 3.7.2. PESTEL Analysis
Chapter 4. HVDC Converter Station Market: Technology Estimates & Trend Analysis
- 4.1. Definition & Scope
- 4.2. Technology Movement Analysis & Market Share, 2023 & 2030
- 4.3. Line Commutated Converter (LCC)
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Voltage Source Converter (VSC)
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. HVDC Converter Station Market: Type Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Installation Movement Analysis & Market Share, 2023 & 2030
- 5.3. Bi-Polar
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Monopolar
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Back-to-back
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Multi Terminal
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. HVDC Converter Station Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 6.3. North America
- 6.3.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.3.4. U.S.
- 6.3.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.3.5. Canada
- 6.3.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.3.6. Mexico
- 6.3.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.3.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4.4. Germany
- 6.4.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4.5. U.K.
- 6.4.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4.6. France
- 6.4.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4.7. Italy
- 6.4.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.4.8. Spain
- 6.4.8.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.4.8.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5.4. China
- 6.5.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5.5. India
- 6.5.5.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5.6. Japan
- 6.5.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5.7. South Korea
- 6.5.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.5.8. Australia
- 6.5.8.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.8.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.5.8.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.6.4. Brazil
- 6.6.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.6.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.7. Middle East & Africa
- 6.7.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- 6.7.4. UAE
- 6.7.4.1. market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.7.4.2. market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- 6.7.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Key Players & Recent Developments & Their Impact on the Industry
- 7.2. Key Company/Competition Categorization
- 7.3. List of key Components Suppliers and Channel Partners
- 7.4. Company Market Share & Position Analysis, 2023
- 7.5. Company Heat Map Analysis
- 7.6. Competitive Dashboard Analysis
- 7.7. Strategy Mapping
- 7.7.1. Collaboration/ Partnerships/ Agreements
- 7.7.2. New Product launches
- 7.7.3. Mergers & Acquisitions
- 7.7.4. Research & Development
- 7.7.5. Others
- 7.8. Company Listing/Profiles
- 7.8.1. Bharat Heavy Electricals Limited
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. GE Grid Solutions LLC
- 7.8.3. Mitsubishi Electric Corporation
- 7.8.4. Siemens Energy AG
- 7.8.5. Hitachi Energy Ltd.
- 7.8.6. LSIS
- 7.8.7. Hyosung
- 7.8.8. C-Epri Power Engineering Company
- 7.8.9. Toshiba Corporation
- 7.8.10. NR Electric Co. Ltd
- 7.8.11. Crompton Greaves Ltd
- 7.8.12. C-EPRI Electric Power Engineering Co. Ltd
- 7.8.13. ABB
- 7.8.14. XJ Electric
- 7.8.15. Bhel
- 7.8.1. Bharat Heavy Electricals Limited
Product Code: GVR-4-68040-373-8
List of Tables
- Table 1 HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 2 HVDC Converter Station market estimates and forecasts, by Line Commutated Converter (LCC), 2018 - 2030 (USD Million)
- Table 3 HVDC Converter Station market estimates and forecasts, by Voltage Source Converter (VSC), 2018 - 2030 (USD Million)
- Table 4 HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 5 HVDC Converter Station market estimates and forecasts, by Bi-Polar, 2018 - 2030 (USD Million)
- Table 6 HVDC Converter Station market estimates and forecasts, by Monopolar, 2018 - 2030 (USD Million)
- Table 7 HVDC Converter Station market estimates and forecasts, by Back-to-back, 2018 - 2030 (USD Million)
- Table 8 HVDC Converter Station market estimates and forecasts, by Multi Terminal, 2018 - 2030 (USD Million)
- Table 9 HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 10 North America HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 11 North America HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 12 North America HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 13 U.S. HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 14 U.S. HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (Units) (USD Million)
- Table 15 U.S. HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (Units) (USD Million)
- Table 16 Canada HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 17 Canada HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 18 Canada HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 19 Mexico HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 20 Mexico HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 21 Mexico HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 22 Europe HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 23 Europe HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 24 Europe HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 25 Germany HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 26 Germany HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 27 Germany HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 28 UK HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 29 UK HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 30 UK HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 31 France HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 32 France HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 33 France HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 34 Italy HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 35 Italy HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 36 Italy HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 37 Spain HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 38 Spain HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 39 Spain HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 40 Asia Pacific HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 41 Asia Pacific HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 42 Asia Pacific HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 43 China HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 44 China HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 45 China HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 46 Japan HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 47 Japan HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 48 Japan HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 49 India HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 50 India HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 51 India HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 52 South Korea HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 53 South Korea HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 54 South Korea HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 55 Australia HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 56 Australia HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 57 Australia HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 58 Central & South America HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 59 Central & South America HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 60 Central & South America HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 61 Brazil HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 62 Brazil HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 63 Brazil HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 64 Middle East & Africa HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 65 Middle East & Africa HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 66 Middle East & Africa HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
- Table 67 UAE HVDC Converter Station market estimates and forecasts, 2018 - 2030 (USD Million)
- Table 68 UAE HVDC Converter Station market estimates and forecasts, by technology, 2018 - 2030 (USD Million)
- Table 69 UAE HVDC Converter Station market estimates and forecasts, by type, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Information Procurement
- Fig. 2 Primary Research Pattern
- Fig. 3 Primary Research Process
- Fig. 4 Market Research Approaches - Bottom-Up Approach
- Fig. 5 Market Research Approaches - Top-Down Approach
- Fig. 6 Market Research Approaches - Combined Approach
- Fig. 7 HVDC Converter Station Market- Market Snapshot
- Fig. 8 HVDC Converter Station Market- Segment Snapshot (1/2)
- Fig. 9 HVDC Converter Station Market- Segment Snapshot (2/2)
- Fig. 10 HVDC Converter Station Market- Competitive Landscape Snapshot
- Fig. 11 HVDC Converter Station Market: Penetration & Growth Prospect Mapping
- Fig. 12 HVDC Converter Station Market: Value Chain Analysis
- Fig. 13 HVDC Converter Station Market: Porter's Five Force Analysis
- Fig. 14 HVDC Converter Station Market: PESTEL Analysis
- Fig. 15 HVDC Converter Station Market: Technology Movement Analysis, 2023 & 2030
- Fig. 16 HVDC Converter Station Market: Type Movement Analysis, 2023 & 2030
- Fig. 17 HVDC Converter Station Market: Regional Movement Analysis, 2023 & 2030
- Fig. 18 HVDC Converter Station Market: Competitive Dashboard Analysis
- Fig. 19 HVDC Converter Station Market: Market Share Analysis
- Fig. 20 HVDC Converter Station Market: Market Positioning Analysis
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