HVDC Converter Station Market
HVDC Converter Station Market is expected to reach 15.74 Billion by 2026 from XX Billion in 2018 at CAGR of XX%.
HVDC converter station (or simply converter station) is used to convert alternating current (AC) into direct current (DC) and vice versa. HVDC is basically a substation which forms the terminal equipment for a high-voltage direct current (HVDC) transmission line and then it converts direct current to alternating current or the reverse.
HVDC Converter Station Market, By Technology
HVDC systems consist of transformers, direct current switchgear, three-phase alternating current switchgear, filters for harmonic suppression and capacitors or synchronous condensers for reactive power. Increasing demand for cost-effective solutions while transferring bulk power over long distances is the driving factor for the HVDC Converter Station Market. However, high capital cost implied to install HVDC converter station is expected to restrain the market growth.
Europe is expected to be the largest growing region for HVDC Converter Station Market followed by the Asia Pacific. Reasons for that is Increased Investments in power transmission by major economies such as the UK, Germany, and Italy, among others to develop interlinkage between countries to maintain energy efficiency. However, increase in requirement from major economies such as India and China, to meet the energy requirement in the country and increase energy efficiency without affecting the national grid will lead the Asia Pacific to generate a significant level of revenue by 2026.
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Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electroni..