PUBLISHER: Market Research Future | PRODUCT CODE: 1596033
PUBLISHER: Market Research Future | PRODUCT CODE: 1596033
Global 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 Forecast to 2030
The HVDC Transmission Market was estimated to be worth USD 9,194.8 million in 2023. The HVDC Transmission Market is anticipated to develop at a compound annual growth rate (CAGR) of 8.95% from USD 9,813.5 million in 2024 to USD 20,990.5 million by 2030.
Electricity can be efficiently transported across long distances with HVDC networks. Compared to conventional AC systems, they offer a few benefits, such as reduced power losses, increased efficiency, improved control, and a less negative impact on the environment. HVDC networks will be more important as power demands increase. All things considered, HVDC transmission works well for delivering electricity across long distances. Although it is more costly to produce and maintain, it offers several benefits over standard air conditioners. High voltage direct current (HVDC) is used for long-distance transmission, whereas direct flow, sometimes referred to as the electrical superhighway, is used for power transmission. HVDC transmission asynchronously connects electrical grids over long distances due to the direct current (DC), which lessens several issues that cause outages.
Perspectives on Market Segments
Depending on the voltage rating, the HVDC transmission market has been split into three segments: up to 220 kV, 220 kV to 600 kV, and over 600 kV.
Based on transmission capacity, the market has been split into two segments: those with up to 12 GW and those with more than 12 GW.
Line Commuted Converters (LCC), Voltage Sourced Converters (VSC), and Capacitor Commuted Converters (CCC) are the three technology segments that make up the HVDC Transmission Market.
Based on configuration, the market is separated into four segments: back-to-back, multi-terminal, bipolar, and monopolar.
Bulkhead transmission, linking grids, and infeed urban regions are the three application-based segments that make up the HVDC transmission market.
Regional perspectives
North America, Europe, Asia-Pacific, the Middle East and Africa, and South America are among the regions that make up the HVDC Transmission Market. With a 39.40% market revenue share in 2023, the Asia Pacific area is expected to grow at a compound annual growth rate (CAGR) of 9.67% from 2024 to 2030. The Asia Pacific region offers a very alluring market for HVDC transmission systems because of its extensive electrical generation capacity and varied energy infrastructure. Since this area continues to produce the most electricity worldwide, there is an increasing need for reliable, sustainable, and effective power transmission technologies, such HVDC technology. At 14,030,721 GWh, the Asia-Pacific region made a significant contribution to the world's energy production in 2021. Key nations including China, India, Japan, and Korea-some of the world's top producers of electricity-are primarily responsible for this dominance, which makes this area a crucial area for the expansion of HVDC transmission.
The leading companies in the HVDC Transmission market are 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.
SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
SECTION III: QUALITATIVE ANALYSIS
SECTION IV: QUANTITATIVE ANALYSIS
SECTION V: COMPETITIVE ANALYSIS