Global High Voltage Direct Current Transmission Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global High Voltage Direct Current Transmission Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

High-Voltage Direct Current (HVDC) transmission technology is a crucial technology holding potential to disrupt the power transmission landscape of the world. This technology is at the forefront of the emerging “smart grid” revolution and has emerged as an economically-viable solution for bulk and long-distance power transmission. Various countries are adopting HVDC, due to its cutting-edge features over HVAC, such as long-distance transmission, asynchronous transmission, ease in controlling the active power link, the possibility of bulk power transmission, and low loss (typically 30-50% less transmission loss than comparable alternating current overhead lines) in the transmission of power.

Market Overview:

The latest research study on the global High Voltage Direct Current Transmission Systems market finds that the global High Voltage Direct Current Transmission Systems market reached a value of USD 11567.66 million in 2022. It’s expected that the market will achieve USD 19029.2 million by 2028, exhibiting a CAGR of 8.65% during the forecast period.

Drivers

High-Voltage Direct Current (HVDC) transmission technology is a crucial technology holding potential to disrupt the power transmission landscape of the world. This technology is at the forefront of the emerging “smart grid” revolution and has emerged as an economically-viable solution for bulk and long-distance power transmission. Various countries are adopting HVDC, due to its cutting-edge features over HVAC, such as long-distance transmission, asynchronous transmission, ease in controlling the active power link, the possibility of bulk power transmission, and low loss in the transmission of power.

The demand for HVDC transmission systems is estimated to increase in the coming years since they are the optimal solution for long distance transmission. The increasing demand for power for commercial, industrial, and household activities has increased the need for developing a diverse portfolio of energy generation mix. Additionally, it has also resulted in the supply of high voltage power through long transmission lines.

In developed market, they have more international companies, good channels, highly market maturity, fierce competition, a highly competent management team, technology and finance advantages, keep on innovation, prominent market participants invest heavily in R&D, with introduction of new technologies to their products, all of which make a growing market demand for High Voltage Direct Current Transmission Systems.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

ABB is one of the major players operating in the High Voltage Direct Current Transmission Systems market, holding a share of 34.26% in 2018.

ABB is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland, operating mainly in robotics and the power and automation technology areas. It ranked as the 286th largest company by revenue for 2016 in the Fortune Global 500 list.

ABB is one of the largest engineering companies as well as one of the largest conglomerates in the world. ABB has operations in around 100 countries, with approximately 132,000 employees in December.

General Electric, often abbreviated as GE, is an American multinational conglomerate corporation incorporated in New York, and headquartered in Boston, Massachusetts. As of 2016, the company operates through the following segments: Power & Water, Oil and Gas, Aviation, Healthcare, Transportation and Capital which cater to the needs of Financial services, Medical devices, Life Sciences, Pharmaceutical, Automotive, Software Development and Engineering industries.

Segmentation Overview:

Among different product types, Above 2001 MW segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Subsea Transmission segment occupied the biggest share from 2017 to 2022.

Key Companies in the global High Voltage Direct Current Transmission Systems market covered in Chapter 3:

GE Grid Solutions
XD Group
Prysmian Group
Mitsubishi Electric
C-EPRI Electric
ABB
Toshiba
NKT
NR Electric
Siemens
LSIS
Nexans
Sumitomo Electric

In Chapter 4 and Chapter 14.2, on the basis of types, the High Voltage Direct Current Transmission Systems market from 2018 to 2029 is primarily split into:

Less than 500 MW
Between 501 MW-2000 MW
Above 2001 MW

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the High Voltage Direct Current Transmission Systems market from 2018 to 2029 covers:

Subsea Transmission
Underground Transmission
Overhead Transmission

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)