HVDC Transmission System Market Size, Share, Trends, Growth Outlook

The global HVDC Transmission System Market Size is estimated to increase at a CAGR of 5.8% during the forecast period from 2024 to 2030.

The HVDC Transmission System Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Power Rating (Below 1000 MWs, 1001 to 2000 MWs, Above 2000 MWs), Technology (Capacitor Commutated Converter (CCC), Voltage Source Converter (VSC), Line Commutated Converter (LCC)), Deployment (Overhead, Underground, Subsea, Combination), Component (AC & DC Harmonic Filters, Converters, DC Lines, Circuit Breakers, Others).

 

An Introduction to HVDC Transmission System Markets in 2024

Productivity, technology enablement, and sustainability remain the key market-driving forces in the global HVDC Transmission System industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most HVDC Transmission System companies. The HVDC Transmission System demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the HVDC Transmission System industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.

 

HVDC Transmission System Market Trends:

The HVDC Transmission System market is witnessing growth due to the need for efficient and long-distance power transmission. Key trends include the deployment of high-voltage direct current (HVDC) technology for interconnecting renewable energy sources, advancements in converter technology for higher efficiency, and the integration of HVDC with smart grid solutions for grid stability. Additionally, there's a trend towards submarine HVDC projects for offshore wind farms and cross-border energy exchange.

 

HVDC Transmission System Market Drivers:

Drivers for this market include the growth in renewable energy capacity, the need for grid interconnection, and the advantages of HVDC systems in reducing transmission losses over long distances. HVDC transmission offers benefits such as lower transmission losses, increased grid reliability, and integration of remote renewable resources, driving its adoption by transmission utilities and renewable energy developers. Moreover, the focus on grid modernization and energy transition significantly contributes to market growth.

 

HVDC Transmission System Market Opportunities:

Opportunities in this market involve investing in innovative HVDC converter technologies, collaborating on large-scale HVDC transmission projects, and exploring applications in emerging sectors like offshore wind power and cross-border electricity trade. Collaboration among HVDC technology providers, transmission system operators, and regulatory bodies can foster innovation and market expansion. Additionally, offering integrated HVDC solutions, providing consultancy on grid interconnection, and ensuring the scalability of HVDC projects unlock new growth prospects.

 

HVDC Transmission System Market Segmentation

High Voltage Direct Current (HVDC) Transmission Systems efficiently transmit large amounts of electrical power over long distances. They convert alternating current (AC) to direct current (DC) for lower energy losses in transmission, ideal for interconnecting power grids and offshore wind farms.

Power Rating
• Below 1000 MWs
• 1001 to 2000 MWs
• Above 2000 MWs

Technology
• Capacitor Commutated Converter (CCC)
• Voltage Source Converter (VSC)
• Line Commutated Converter (LCC)

Deployment
• Overhead
• Underground
• Subsea
• Combination

Component
• AC & DC Harmonic Filters
• Converters
• DC Lines
• Circuit Breakers
• Others

 

By Region

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Spain, Italy, Others)

• Asia Pacific (China, India, Japan, South Korea, Australia, Others)

• Latin America (Brazil, Argentina, Others)

• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

HVDC Transmission System Market Companies

• ABB Ltd
• Abengoa, S.A.
• ATCO Ltd.
• General Electric Company
• Hitachi, Ltd.
• LS ELECTRIC Co., Ltd.
• Mitsubishi Electric Corporation
• Nexans S.A.
• Prysmian S.p.A.
• Schneider Electric SE
• Siemens Aktiengesellschaft
• Toshiba Corporation
• TransGrid Solutions Inc.

Reasons to Buy the HVDC Transmission System Market Study

• Deepen your industry insights and navigate uncertainties for strategy formulation, CAPEX, and Operational decisions
• Gain access to detailed insights on the HVDC Transmission System market, encompassing current market size, growth trends, and forecasts till 2030.
• Access detailed competitor analysis, enabling competitive advantage through a thorough understanding of market players, strategies, and potential differentiation opportunities
• Stay ahead of the curve with insights on technological advancements, innovations, and upcoming trends
• Identify lucrative investment avenues and expansion opportunities within the HVDC Transmission System industry, guided by robust, data-backed analysis.
• Understand regional and global markets through country-wise analysis, regional market potential, regulatory nuances, and dynamics
• Execute strategies with confidence and speed through information, analytics, and insights on the industry value chain
• Corporate leaders, strategists, financial experts, shareholders, asset managers, and governmental representatives can make long-term planning scenarios and build an integrated and timely understanding of market dynamics
• Benefit from tailored solutions and expert consultation based on report insights, providing personalized strategies aligned with specific business needs.

TABLE OF CONTENTS

1 INTRODUCTION TO 2024 HVDC Transmission System MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 EXECUTIVE SUMMARY
3.1 Global HVDC Transmission System Market Size Outlook, $ Million, 2021 to 2030
3.2 HVDC Transmission System Market Outlook by Type, $ Million, 2021 to 2030
3.3 HVDC Transmission System Market Outlook by Product, $ Million, 2021 to 2030
3.4 HVDC Transmission System Market Outlook by Application, $ Million, 2021 to 2030
3.5 HVDC Transmission System Market Outlook by Key Countries, $ Million, 2021 to 2030

4 MARKET DYNAMICS
4.1 Key Driving Forces of HVDC Transmission System Industry
4.2 Key Market Trends in HVDC Transmission System Industry
4.3 Potential Opportunities in HVDC Transmission System Industry
4.4 Key Challenges in HVDC Transmission System Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global HVDC Transmission System Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis

6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 GLOBAL HVDC Transmission System MARKET OUTLOOK BY SEGMENTS
7.1 HVDC Transmission System Market Outlook by Segments
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


8 NORTH AMERICA HVDC Transmission System MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America HVDC Transmission System Markets in 2024
8.2 North America HVDC Transmission System Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America HVDC Transmission System Market size Outlook by Segments, 2021-2030
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


9 EUROPE HVDC Transmission System MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe HVDC Transmission System Markets in 2024
9.2 Europe HVDC Transmission System Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe HVDC Transmission System Market size Outlook by Segments, 2021-2030
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


10 ASIA PACIFIC HVDC Transmission System MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific HVDC Transmission System Markets in 2024
10.2 Asia Pacific HVDC Transmission System Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific HVDC Transmission System Market size Outlook by Segments, 2021-2030
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


11 SOUTH AMERICA HVDC Transmission System MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America HVDC Transmission System Markets in 2024
11.2 South America HVDC Transmission System Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America HVDC Transmission System Market size Outlook by Segments, 2021-2030
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


12 MIDDLE EAST AND AFRICA HVDC Transmission System MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa HVDC Transmission System Markets in 2024
12.2 Middle East and Africa HVDC Transmission System Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa HVDC Transmission System Market size Outlook by Segments, 2021-2030
Power Rating
Below 1000 MWs
1001 to 2000 MWs
Above 2000 MWs

Technology
Capacitor Commutated Converter (CCC)
Voltage Source Converter (VSC)
Line Commutated Converter (LCC)

Deployment
Overhead
Underground
Subsea
Combination

Component
AC & DC Harmonic Filters
Converters
DC Lines
Circuit Breakers
Others


13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- ABB Ltd
- Abengoa, S.A.
- ATCO Ltd.
- General Electric Company
- Hitachi, Ltd.
- LS ELECTRIC Co., Ltd.
- Mitsubishi Electric Corporation
- Nexans S.A.
- Prysmian S.p.A.
- Schneider Electric SE
- Siemens Aktiengesellschaft
- Toshiba Corporation
- TransGrid Solutions Inc.


14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

HVDC Transmission System Market Segmentation

High Voltage Direct Current (HVDC) Transmission Systems efficiently transmit large amounts of electrical power over long distances. They convert alternating current (AC) to direct current (DC) for lower energy losses in transmission, ideal for interconnecting power grids and offshore wind farms.

Power Rating
• Below 1000 MWs
• 1001 to 2000 MWs
• Above 2000 MWs

Technology
• Capacitor Commutated Converter (CCC)
• Voltage Source Converter (VSC)
• Line Commutated Converter (LCC)

Deployment
• Overhead
• Underground
• Subsea
• Combination

Component
• AC & DC Harmonic Filters
• Converters
• DC Lines
• Circuit Breakers
• Others

 

By Region

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Spain, Italy, Others)

• Asia Pacific (China, India, Japan, South Korea, Australia, Others)

• Latin America (Brazil, Argentina, Others)

• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)