High voltage direct current (HVDC) technology is one of the catalysts driving the transformation of the electricity market. The increasing cross border power transmission activities are expected to pave a way for the development of HVDC systems, which, in turn, is likely to drive the HVDC converter station market. Also, growth in the renewable energy sector is also expected to drive the market during the forecast period as there is a significant rise in renewable energy generation capacity (onshore and offshore), supported by the government’s objectives. However, the implementation of the distributed and off-grid power systems is reducing the demand for HVDC transmission lines. Therefore, the growing demand for these power plants is expected to restrain the market during the forecast period.
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Top Key Major Players:-
1.Siemens
2.ABB
3.General Electric
4.Mitsubishi
5.Toshiba
6.NR Electric
7.C-EPRI
8.China Xian XD power system
9.C-EPRi Power engineering company
10.XJ Electric
11.HYOSUNG
12.LSIS