Global High Voltage Direct Current Electric Power Transmission System Market Growth (Status and Outlook) 2023-2029

Global High Voltage Direct Current Electric Power Transmission System Market Growth (Status and Outlook) 2023-2029

The global High Voltage Direct Current Electric Power Transmission System market size is projected to grow from US$ 9556.7 million in 2022 to US$ 15510 million in 2029; it is expected to grow at a CAGR of 7.2% from 2023 to 2029.

The key service providers of the High Voltage Direct Current Electric Power Transmission System in the world are Hitachi Energy, Siemens, Prysmian Group, XD Group, GE Grid Solution, TBEA, Xuji Group and Nexans, among which the top three service providers account for more than 50% of the market share, and Hitachi Energy is the largest service provider. The global high voltage direct current electric power transmission system services are mainly distributed in North America, Europe, China and Japan, among which the market share of the top three regions is close to 90%. At present, China is the largest service provider region, followed by Europe. In terms of its service type, the growth rate of systems with voltage above 800KV is relatively fast. At present, the market share of systems with voltage less than 400KV is the highest, more than 50%, followed by systems with voltage between 400KV and 800KV. In terms of its application, overhead transmission is the largest application field, with a market share of more than 70%, followed by subsea transmission and underground transmission.

High Voltage Direct Current Electric Power Transmission System uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links.

HVDC allows power transmission between unsynchronized AC transmission systems. Since the power flow through an HVDC link can be controlled independently of the phase angle between source and load, it can stabilize a network against disturbances due to rapid changes in power. HVDC also allows transfer of power between grid systems running at different frequencies, such as 50 Hz and 60 Hz. This improves the stability and economy of each grid, by allowing exchange of power between incompatible networks.

LPI (LP Information)' newest research report, the “High Voltage Direct Current Electric Power Transmission System Industry Forecast” looks at past sales and reviews total world High Voltage Direct Current Electric Power Transmission System sales in 2022, providing a comprehensive analysis by region and market sector of projected High Voltage Direct Current Electric Power Transmission System sales for 2023 through 2029. With High Voltage Direct Current Electric Power Transmission System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world High Voltage Direct Current Electric Power Transmission System industry.

This Insight Report provides a comprehensive analysis of the global High Voltage Direct Current Electric Power Transmission System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on High Voltage Direct Current Electric Power Transmission System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global High Voltage Direct Current Electric Power Transmission System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for High Voltage Direct Current Electric Power Transmission System and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global High Voltage Direct Current Electric Power Transmission System.

This report presents a comprehensive overview, market shares, and growth opportunities of High Voltage Direct Current Electric Power Transmission System market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Less than 400 KV
400-800 KV
Above 800 KV

Segmentation by application
Subsea Transmission
Underground Transmission
Overhead Transmission

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Hitachi Energy
Siemens
Prysmian Group
XD Group
GE Grid Solution
TBEA
Xuji Group
Nexans
NKT
Toshiba Energy Systems & Solutions
Mitsubishi Electric
NR Electric

Please note: The report will take approximately 2 business days to prepare and deliver.