Tag Archives: Global HVDC Converter Station Market

HVDC Converter Station Market Revenue to hit $11.57 Billion by 2022

According to the new market research report  “HVDC Converter Station Market by Configuration (Monopolar, Bi-Polar, Back-to-Back, Multi-Terminal), Technology (LCC, VSC), Component (Valve, Converter Transformer, Harmonic Filter, Reactor), Power Rating, and Region – Global Forecast to 2022”,  published by MarketsandMarkets™, The HVDC converter station market is expected to grow from an estimated value of USD 7.90 Billion in 2017 to USD 11.57 Billion by 2022, registering a CAGR of 7.92%, from 2017 to 2022. The major factors driving the growth of the market is the increasing requirement for cost-effective solutions for bulk power transfer and increasing need for connecting asynchronous grids. Due to these, there has been a rapid adoption of HVDC in Europe and Asia Pacific creating a market opportunity for the HVDC converter station market. Increasing requirement to transfer bulk power over long distances and the connection of the renewable energy resources to the national grid is driving the market for HVDC converter stations.