From 2018 to 2022, the global market value of HVDC converter stations reached 51.34 billion US dollars

According to GlobalData's latest report, with increased investor confidence and improving global economic conditions, the HVDC converter station market is expected to grow significantly in the future, reaching a market capitalization of $51.
34 billion
during the period 2018-2022.
This growth will be driven by China, the United States, India, Brazil, the United Kingdom and Germany, which will account for more than
half of the global market share.

From 2018 to 2022, the global market value of HVDC converter stations reached 51.
34 billion US dollars

HVDC technology is shaping the grid landscape of the future as a key enabler of the modern energy system
.
High-capacity power transmission for long-distance power generation and the integration of renewable energy into the main grid require high- and long-distance power lines, which will accelerate the global demand
for HVDC converter stations.
Renewable energy is becoming the world's main source of power generation to bridge the gap
between capacity potential and power generation.
Supportive government policies, major renewable energy initiatives and favourable financial measures are driving renewable energy
.
Examples include the European Union's energy target of 30% renewable electricity, Brazil's Alternative Electricity Incentive Program (PROINFA), India's 175 GW renewable energy auction by 2020, and Germany's Renewable Energy Act in 2017
.

Countries such as Canada, Brazil, China and Norway have huge hydropower potential
.
Hydropower plants must be located where hydrology is feasible, often far from urban demand centers
.
The integration of alternative energy sources into the grid will accelerate the demand for HVDC transmission lines, which will drive the HVDC converter station market
.
HVDC technology is ideal for efficient power transmission
from remote plants to urban centers.

In 2017, the HVDC converter station market was dominated by five major players, accounting for 83% of the global market, namely Swiss manufacturer ABB, German manufacturer Siemens, China Xuji Group, French Power Grid Solutions Co.
, Ltd.
, and Indian manufacturer Bharat Heavy Electric
.
Increasing demand for electricity, cross-border power transmission, various global initiatives to encourage the implementation of renewable smart grids, and need to limit global carbon emissions will drive the HVDC transmission market, thereby driving the HVDC converter station market
.

According to the report, China leads the global HVDC converter station market in historical times, with a total market capitalization of $14.
79 billion
from 2012 to 2017.
In 2004, China began to invest in UHV transmission, which is a reasonable choice
for long-distance transmission and distribution losses due to its energy resources far from southern and eastern load centers.
There is a growing focus on cross-border interconnection and renewable energy, and many projects will be developed
during the forecast period.
The State Grid Corporation of China estimates that during the 13th Five-Year Plan period (2016-2020), investment in UHV transmission expansion will be US$36.
5 billion.

India ranks second in the global HVDC converter station market after China, with a total market capitalization of US$1.
88 billion
from 2012 to 2017.
The significant increase in renewable energy generation supported by government targets due to the need to shift electricity from widely dispersed renewable energy generation to load centers has driven the HVDC converter station market
in India.

In addition, the increased necessity of HVDC converter stations has created a huge market in Brazil and ranks third in historical periods with a total market capitalization of $1.
52 million
.
Most of the country's power generation capacity is far from urban demand centers
.

In 2018-2022, China is expected to continue to maintain its leading position, followed by the United States and India
.
Growing demand for electricity across the globe has spurred investment in power grids, and governments are developing key initiatives to boost investment
in transmission networks.
These measures will keep the market demand for HVDC converter stations stable
during the forecast period.

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