Global HVDC Transmission Market 2023

Global HVDC Transmission Market 2023

HVDC (High Voltage Direct Current) transmission refers to a technology that enables the efficient transmission of electricity over long distances using direct current (DC) rather than alternating current (AC). HVDC systems convert AC power to DC power at the sending end, transmit it over long distances with minimal losses, and then convert it back to AC power at the receiving end for distribution.

The global HVDC transmission market is expected to increase by USD 6.0 billion, at a compound annual growth rate (CAGR) of 8.81% from 2023 to 2029, according to the latest edition of the Global HVDC Transmission Market Report. HVDC transmission is particularly advantageous for transmitting electricity over long distances. Compared to AC transmission, HVDC systems experience lower transmission losses, making them more efficient for transmitting power over hundreds or even thousands of kilometers. This is especially beneficial for connecting remote renewable energy sources, such as offshore wind farms, to the main power grid. The increasing penetration of renewable energy sources, such as wind and solar, into the power grid has created a need for efficient transmission solutions. HVDC transmission allows for the integration of renewable energy sources located far from population centers, where the demand for electricity is high. It enables the transmission of large amounts of renewable energy over long distances, reducing curtailment and maximizing the utilization of clean energy resources.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global HVDC transmission market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Voltage rating: 640 kV, 500 kV, 200 kV
Technology: line-commutated converter (LCC), voltage source converter (VSC)
Configuration type: monopolar, bipolar, multi terminal, back to back
Application: underground, asynchronous, offshore
Region: Asia-Pacific, Europe, North America, RoW (Rest of World)

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the voltage rating, technology, configuration type, application, and region. The global market for HVDC transmission can be segmented by voltage rating: 640 kV, 500 kV, 200 kV. Among these, the 640 kV segment was accounted for the highest revenue generator in 2022. HVDC transmission market is further segmented by technology: line-commutated converter (LCC), voltage source converter (VSC). The LCC segment is estimated to account for the largest share of the global HVDC transmission market. Based on configuration type, the HVDC transmission market is segmented into: monopolar, bipolar, multi terminal, back to back. The bipolar segment held the largest share of the global HVDC transmission market in 2022 and is anticipated to hold its share during the forecast period. On the basis of application, the HVDC transmission market also can be divided into: underground, asynchronous, offshore. In 2022, the underground segment made up the largest share of revenue generated by the HVDC transmission market. HVDC transmission market by region is categorized into: Asia-Pacific, Europe, North America, RoW (Rest of World). Among these, Asia-Pacific was accounted for the highest revenue generator in 2022.

Major Companies and Competitive Landscape
The market research report covers the analysis of key stake holders of the global HVDC transmission market. Some of the leading players profiled in the report include ABB, Ltd., Adani Group, Alstom SA, General Electric Co., Hitachi, Ltd., Mitsubishi Electric Corporation, Nexans SA, NKT A/S, Schneider Electric SE, Siemens AG, Toshiba Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the global HVDC transmission market.
To classify and forecast the global HVDC transmission market based on voltage rating, technology, configuration type, application, region.
To identify drivers and challenges for the global HVDC transmission market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global HVDC transmission market.
To identify and analyze the profile of leading players operating in the global HVDC transmission market.

Why Choose This Report
Gain a reliable outlook of the global HVDC transmission market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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