London, 01 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global HVDC Convertor Station Market 2014-2018, which is expected to grow at a CAGR of 22.2 percent during 2014-2018.
An HVDC converter station is a specialized type of substation, which is generally used for the transmission of bulk power over long distances. These stations mainly transmit power from renewable energy sources located at remote areas to urban areas by converting AC to DC or vice versa.
“HVDC transmission through converter stations is expected to be used to transmit clean electricity generated from renewable power plants to urban areas with minimal transmission losses,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Strong Growth in Offshore Wind Energy
- Increase in Cross-border Interconnections
- Upsurge in Global Demand for Electricity
Key Market Trends
- Increased Investments in HVDC Systems
- Advances in Technology
- Increase in Energy Demand
Key Market Vendors
- ABB Ltd.
- Alstom SA
- GE Energy
- Hitachi Ltd.
- Siemens AG
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3E%C2%A0%3C/p%3E%3Cp%3EIf%20you%20are%20in…
