By 2025, the global high-voltage DC converter market scale will reach 129.7 billion U.S. dollars
2019/03/21 15:17:57 Source: 
The global market for high-voltage DC converter stations is estimated to grow to $129.7 billion by 2025, with an annual compound growth rate of 7.8 percent, according to research report Marketers and Markets, the world's second-largest market research firm.

North America, Europe, China and Japan are the main regional markets for HVDC converters during the forecast period, according to the report.
When power is transmitted over long distances, such as from offshore wind farms, AC lines are not economical due to the high power losses involved in such transmission. In this case, DC power transmission is used, and AC power conversion to DC is implemented using the converter station for transmission.
As a result, the demand for cost-effective solutions for large-scale power transmission is increasing during the forecast period, and the increased demand for access to asynchronous power grids is the main reason for the steady and rapid growth of the market.
For this reason, the rapid popularity of HVDC in Europe and the Asia-Pacific region has created market opportunities for the HVDC converter market. Increased demand for long-distance transmission of large-capacity electricity and the connection of renewable energy to the National grid are driving the marketization of high-voltage DC converter stations.
Because thyristor technology is more reliable, the use of thyristor valves increases the demand for LCC high-pressure DC systems. In recent years, technological improvements and compact designs using large-capacity thyristors(up to 8.5 kV, 4 kA) have contributed to the development of HVDC transmission applications in the Asia-Pacific region. For example, China is using LCC technology to build large UHVDC transmission projects. This trend is expected to continue until 2022, as major economies in Asia and Europe, such as China and the United Kingdom, are still struggling to meet the country's energy needs.
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