United States High-Voltage Direct Current (Hvdc) Transmission Systems Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The US high-voltage direct current (HVDC) transmission systems market is expected to register a CAGR of more than 11% during the forecast period of 2022-2027. The COVID-19 outbreak in Q1 of 2020 had a moderate effect in terms of delayed ongoing projects and rescheduling of trends for upcoming projects. Factors such as the increasing investments and upcoming transmission and distribution projects, increasing penetration of renewable energy sources, and expansion of electricity infrastructure are expected to drive the market during the forecast period. However, high installation costs and high losses for smaller transmission distances are likely to hinder the market growth.
Key HighlightsThe US high-voltage direct current (HVDC) transmission systems market is moderately fragmented. The key players in the market include General Electric Company, Toshiba Corporation, Siemens Energy AG, LS Electric Co. Ltd, and NKT AS, among others.
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