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Technavio, an international market research institution, recently released a report that from 2018 to 2022, the global high-voltage DC converter station market will grow
at a compound annual growth rate of nearly 21%.
However, the market momentum is expected to decelerate due to
declining year-on-year growth.
According to the report, the growing focus on energy efficiency is one of the major trends in the global HVDC converter station market during the
forecast period.
Energy efficiency requires the efficient use
of energy throughout the entire energy chain, from production to consumption.
In the grid, the power is always lower than the power
generated at the source.
This is heat loss
due to the resistivity and conductivity of the conductive material.
These losses are often referred to as transmission and distribution losses
.
In 2014, the global average transmission and distribution loss reached 8.
2%.
In addition, the development of the offshore wind power market is also one of the key factors driving the growth of the
global HVDC converter station market.
"The growth of offshore wind farms is one of the main drivers driving the demand for HVDC converter stations, as the electricity generated by offshore wind farms needs to be connected to the grid
.
" According to a senior analyst at Technavio, "Between 1991-2001 and 2002-2016, offshore wind towers averaged 0.
80 miles
from the coast.
Currently, the average distance to the coast has increased to 11.
22 miles
.
This means that power needs to be transmitted over long distances, and traditional transmission technologies are bound to cause large losses
.
However, HVDC technology can transmit power over long distances without causing significant power losses
.
”
From a technical point of view, the global HVDC converter station market is mainly divided into LCC
and VSC.
Among them, LCC dominated the global HVDC converter station market in 2017, with a market share of 95%, and LCC is expected to continue to dominate the global market during the forecast period, but its share will decline
.
From the perspective of regional market, Asia Pacific is the world's largest HVDC converter station regional market, its market share in 2017 is close to 87%, and it is expected to continue to dominate by 2022, but its market share will decrease by nearly 18%.
Technavio, an international market research institution, recently released a report that from 2018 to 2022, the global high-voltage DC converter station market will grow
at a compound annual growth rate of nearly 21%.
However, the market momentum is expected to decelerate due to
declining year-on-year growth.
According to the report, the growing focus on energy efficiency is one of the major trends in the global HVDC converter station market during the
forecast period.
Energy efficiency requires the efficient use
of energy throughout the entire energy chain, from production to consumption.
In the grid, the power is always lower than the power
generated at the source.
This is heat loss
due to the resistivity and conductivity of the conductive material.
These losses are often referred to as transmission and distribution losses
.
In 2014, the global average transmission and distribution loss reached 8.
2%.
In addition, the development of the offshore wind power market is also one of the key factors driving the growth of the
global HVDC converter station market.
"The growth of offshore wind farms is one of the main drivers driving the demand for HVDC converter stations, as the electricity generated by offshore wind farms needs to be connected to the grid
.
" According to a senior analyst at Technavio, "Between 1991-2001 and 2002-2016, offshore wind towers averaged 0.
80 miles
from the coast.
Currently, the average distance to the coast has increased to 11.
22 miles
.
This means that power needs to be transmitted over long distances, and traditional transmission technologies are bound to cause large losses
.
However, HVDC technology can transmit power over long distances without causing significant power losses
.
”
From a technical point of view, the global HVDC converter station market is mainly divided into LCC
and VSC.
Among them, LCC dominated the global HVDC converter station market in 2017, with a market share of 95%, and LCC is expected to continue to dominate the global market during the forecast period, but its share will decline
.
From the perspective of regional market, Asia Pacific is the world's largest HVDC converter station regional market, its market share in 2017 is close to 87%, and it is expected to continue to dominate by 2022, but its market share will decrease by nearly 18%.
