HVDC Transmission Market Research Report Information By Voltage Rating (Up to 220 kV, 220 kV to 600 kV, and Above 600 kV), By Transmission Capacity (Up to 12 GW and Above 12 GW), By Technology (Line Commuted Converter (LCC), Voltage Sourced Converter (VSC

HVDC Transmission Market Research Report Information By Voltage Rating (Up to 220 kV, 220 kV to 600 kV, and Above 600 kV), By Transmission Capacity (Up to 12 GW and Above 12 GW), By Technology (Line Commuted Converter (LCC), Voltage Sourced Converter (VSC), and Capacitor Commuted Converter (CCC)), By Configuration (Monopolar, Bipolar, Multi Terminal, and Back-To-Back), By Application (Bulk Head Transmission, Interconnecting Grids, and Infeed Urban Areas), By Region Industrial Forecast to 2030

The HVDC Transmission Market was valued at USD 9,194.8 million in 2023. The HVDC Transmission Market is anticipated to experience a compound annual growth rate (CAGR) of 8.95% during the forecast period, rising from USD 9,813.5 million in 2024 to USD 20,990.5 million by 2030.

HVDC systems are efficient instruments for transmitting electricity over extensive distances. They offer a variety of benefits in comparison to conventional AC systems, such as improved efficiency, better control, fewer power losses, and a reduced environmental impact. HVDC networks will become increasingly essential as the demand for electricity increases. In general, HVDC transmission is a viable method for transporting electricity over extensive distances. It offers a variety of benefits in comparison to conventional air conditioners; however, it is more costly to construct and operate. Power transmission, which is also referred to as the electrical superhighway, employs direct flow, while long-distance transmission employs high voltage direct current (HVDC). HVDC transmission asynchronously connects electricity infrastructures over long distances, thereby reducing a variety of outage-causing concerns, due to the direct current (DC).

Market Segment Insights:
According to the voltage rating, the HVDC Transmission Market has been segmented into three sectors: up to 220 kV, 220 kV to 600 kV, and over 600 kV.
The market has been segmented into two sectors based on transmission capacity: up to 12 GW and more than 12 GW.
Three technology segments comprise the HVDC Transmission Market: Line Commuted Converters (LCC), Voltage Sourced Converters (VSC), and Capacitor Commuted Converters (CCC).
Monopolar, bipolar, multi-terminal, and back-to-back are the four configurations into which the market is segmented.
The HVDC Transmission Market is segmented into three categories based on the application: bulkhead transmission, interconnecting grids, and infeed urban areas.

Perspectives on the region
The HVDC Transmission Market is segmented into regions as follows: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Asia Pacific region possessed the highest market revenue share of 39.40% in 2023, and it is anticipated to increase at a compound annual growth rate (CAGR) of 9.67% during the forecast period of 2024-2030. The Asia Pacific region is a highly appealing market for HVDC transmission systems due to its diverse energy infrastructure and substantial electrical generation capacity. The demand for sustainable, reliable, and efficient power transmission solutions, such as HVDC technology, is on the rise as this region continues to dominate global electricity generation. The Asia-Pacific region made a significant contribution to the global electricity output in 2021, with a total of 14,030,721 GWh. This dominance is primarily fueled by key powers such as China, India, Japan, and Korea, which are among the world's leading electricity producers. Consequently, this region is a significant focus for the expansion of HVDC transmission.

Major Players
The HVDC Transmission market is dominated by a number of major competitors, including ABB, Siemens, Hitachi, Mitsubishi Electric Corporation, Prysmian Group, PSC Specialists Group, Inc., ALSTOMNexans, NKT A/S, Schneider Electric, Toshiba Corporation, NR Electric Co., Ltd., and AECOM.