Global HVDC Converter Stations Market 2018-2022| Key Insights and Forecasts| Technavio

Technavio analysts forecast the global HVDC converter stations market to grow at a CAGR of nearly 21% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

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The growing focus on energy efficiency is one of the major trends being witnessed in the global HVDC converter stations market 2018-2022. Energy efficiency requires energy to be used efficiently throughout the energy chain, from production to consumption. In a power grid, the power, in terms of the quantity received, is always lower than the power produced at the source. This is due to thermal losses owing to electrical resistivity and conductivity of the transmitting material. These losses are generally referred to as T&D losses. In 2014, the global average T&D losses amounted to 8.2%.

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According to Technavio analysts, one of the key factors contributing to the growth of the global HVDC converter stations market is the growth in offshore wind installations:

Global HVDC converter stations market: Growth in offshore wind installations

The growth in offshore wind farm is one of the major drivers that is boosting the demand for HVDC converter stations as the power generated from offshore wind power plants requires connection to the grid. The growth in offshore wind farms is usually located far from the grid.

According to a senior analyst at Technavio for research on smart grid, “Between years 1991-2001 and 2002-1026, the average distance of a wind tower to be installed from the shore was 0.80 miles. At present, the average distance to the shore has increased to 11.22 miles. This means that power needs to be transmitted over long distances, which result in high technical losses. However, HVDC can carry power over long distances without significant power losses.”

Global HVDC converter stations market: Segmentation analysis

The global HVDC converter stations market research report provides market segmentation by technology (LCC and VSC) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The LCC segment held the largest market share in 2017, accounting for nearly 95% of the market. This technology segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 87%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 18%.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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