HVDC converter stations market to see strong growth through 2023

According to the GlobalData's latest study on the HVDC converter stations market, the global HVDC converter stations market held an aggregate value of $20.94 billion between 2014 and 2018, with the aggregate market value likely to be $32.88 billion between 2019 and 2023.

This growth is expected to originate from China, India, the UK, Germany and Brazil, which will account for more than 75% of the global market share during the period.

Specifically, the report reveals that China led the global HVDC converter station market with an aggregate market value of $14.5 billion between 2013 and 2018. China's State Grid Corporation of China estimated an investment of $36.5 billion in UHV expansion during the Five-Year Plan period 2016-2020.

Brazil ranked second in the global HVDC converter station market, with an aggregate market value of $2.11 billion during the period 2013-2018.

During the forecast period of 2019-2023, China is expected to continue to hold its leading position, followed by India and the UK.

Source: GlobalData