Japan High Voltage Direct Current (HVDC) Transmission Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Japan High Voltage Direct Current (HVDC) transmission systems market is estimated to be USD 177.79 million in 2020, and it is expected to reach USD 150.06 million by 2026, at a CAGR of 6.51% during 2021-2026. The market was relatively stable from the impact of COVID-19, and it did not witness any significant delays, despite the supply chain disruptions. The major factors driving the market include increasing penetration of renewable energy and policies for increasing investments and efficiency of the transmission system. However, due to the growing adoption of distributed and remote power systems in the country, the demand for HVDC transmission systems is expected to experience a restraint.
Key HighlightsThe market for high voltage direct current (HVDC) transmission systems in Japan is moderately consolidated. Some of the major players in this market include Hitachi ABB Power Grids, Sumitomo Electric Industries Ltd, Toshiba Corporation, and Mitsubishi Electric Corporation.
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