According to the research report titled ‘HVDC Converters Market Size By Voltage (<500 kV, 500-800 kV, 800-1,000 kV, >1,000 kV), By Power Rating (<3,000 MW, 3,000-6,000 MW, 6,000-10,000 MW, >10,000 MW), By Configuration (Monopolar, Bipolar, Back To Back, Others), By Converter (LCC, VSC, Others), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019- 2025’, available with Market Study Report, global HVDC converters market is likely to surpass USD 13 billion in valuation by the year 2025.
 

Increasing development of cross border and inter regional electrical networks, rising cognizance regarding energy conservation, and focus towards replacing aging infrastructure with advanced transmission systems are some of the key factors driving the growth of global HVDC converters market.
 

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Strict emission regulations and rising integration of clean energy sources into grid networks are also stimulating the overall industry outlook. High installation costs could, however, act as a restraining factor to the growth of worldwide HVDC converters industry.
 

In terms of voltage type, global HVDC converters industry size from <500 kV segment had generated revenues worth USD 1 billion in the year 2018 and is likely to showcase consistent growth throughout the study period. Supportive regulatory outlook which promote the deployment of renewable sources of energy coupled with rising number of interconnected networks are fueling the segmental growth.
 

Moving on to configuration type, bipolar segment is estimated to amass notable returns for global HVDC converters market in the ensuing years, primarily due to rising importance of sustainable development. It is worth mentioning that bipolar HVDC converters are known to distribute large amount of energy efficiently.
 

By converter type, the LCC segment is predicted to expand significantly during the estimated timeframe. LCC HVDC converters can transmit large amount of energy over long distances.
 

From the regional point of view, North America HVDC converter industry size is reckoned to grow substantially over the forecast period. Surging investments towards modernizing existing electrical infrastructure, rising deployment of long-distance transmission networks, and technological breakthroughs are complementing the business dynamics in North America.
 

Europe, meanwhile, is also likely to develop as a key revenue generator for the industry participants, owing to favorable government initiatives regarding cross-border electrical networks.
 

The competitive landscape of global HVDC converters market is defined by companies such as Mitsubishi Electric Corporation, C-EPRI Electric Power Engineering Co. Ltd., CG Power and Industrial Solutions Limited, Bharat Heavy Electricals Limited, ABB Ltd., Toshiba Corp., General Electric Co., and Siemens AG among others.