Canada High-Voltage Direct Current (Hvdc) Transmission Systems Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Canadian HVDC transmission systems market is expected to register a CAGR of more than 2% during the forecast period, 2022-2027. The COVID-19 pandemic did not alter the country's medium- to long-term plans for power transmission. Power transmission, which was categorized as an essential service by the Ministry of Power during the COVID-19 period, continued as a usual business in the country, with the projects for renewable energy capacity increasing by 8% in the 2019-2020 period. Factors such as the growing renewable energy sector, rapid urbanization, and increasing rural electrification are expected to drive the market during the forecast period. On the other hand, the country's growing distributed and remote power systems are likely to hinder the market growth.
Key HighlightsThe Canadian high-voltage direct current (HVDC) transmission systems market is moderately fragmented. Some of the key players in this market include Hitachi Energy Ltd, Siemens Energy AG, Toshiba Corporation, General Electric Company, and Nexans SA.
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