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Global HVDC Transmission System Market Outlook to 2028

Global HVDC Transmission System Market Outlook to 2028

Market Research Reports | Q1 2024 | Report ID: BR0170

About the Report

The rising need for transmission of energy efficiently over long distances is the primary driver for the HVDC transmission system market in the forecast period. In comparison to HVAC systems HVDC is more efficient owing to low power losses over long-distance transmission. Under the Paris agreement, most of the countries have the mission to reduce greenhouse gas emissions and are working towards decarbonization by adopting new systems that are highly efficient so that the power generated has low losses when it is transmitted from long distances and fewer fuels are burned to fulfill demand. For instance, the EU’s nationally determined contribution (NDC) under the Paris Agreement is to reduce greenhouse gas emissions by at least 40% by 2030 compared to 1990, under its wider 2030 climate and energy framework. All key EU legislation for implementing this target was adopted by the end of 2018.

HVDC Transmission System cable is in a wide application in the undersea application as the lines have higher capacitance because the lines are insulated with a thin layer, and the metal sheath is covering them. In the case of AC, energy loss is more because the conductors are required to be charged and discharged. In the case of DC, the cable is only charged once when the voltage is changed. The European Union’s (EU) commitment towards a sustainable low-carbon European economy by 2050 requires a well-functioning trans-European electricity market.  There is a considerable number of projects under construction and others are upcoming for HVDC transmission between countries of Europe. 


The global HVDC Transmission System market is segmented based on components, technology, and application. The market is segmented by components into Convertor stations, Transmission Cable, and Others. By Technology, it is segmented into voltage source convertor and line commutated convertor. By Application, it is segmented into bulk power transmission, interconnecting grids, infeed urban areas. Further, the market for HVDC Transmission Systems is segmented by geography into North America, Europe, Asia Pacific, South America, and Middle-East & Africa. Asia-Pacific (APAC) market for HVDC Transmission Systems is anticipated to grow at a higher rate, with China contributing the biggest share, further followed by India. China has its renewable and non-renewable energy sources located north and west but has load centers in south and east so it needs highly efficient systems to transmit energy and hence, a large number of HVDC transmission projects are ongoing and upcoming in the country.

Some of the prominent players in the HVDC Transmission System market are ABB ltd., Siemens AG, General Electric Company, Hitachi Ltd., Toshiba Corporation, Mitsubishi Electric, Nexans SA, NKT A/S, Nr Electric, and C-Epri Electric Power Engineering.

In December 2019, NKT has acquired a technology consulting unit from ABB specializing in key areas within power cable development such as Chemistry & Materials, Applied Mechanics and Electrical Testing, which is a non-core business of ABB. The acquisition includes approximately 30 employees with expert competencies now being part of the existing R&D setup in NKT.

In September 2019, Ideal Power Inc., a pioneer in the development and commercialization of highly efficient and broadly patented B-TRAN bi-directional power switches, has sold its Power Conversion Systems business and Power Packet Switching Architecture (PPSA) technology to CE+T Energy Solutions, Inc.


  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Market Opportunities
  • 3.5 Market Size and Forecast
  • 3.6 List of Projects

4. Industry Analysis

  • 4.1 Value Chain Analysis
  • 4.2 Porter’s Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Components
    • 5.1.1 Convertor Stations
    • 5.1.2 Transmission Cables
    • 5.1.3 Others
  • 5.2 By Technology
    • 5.2.1 Voltage Source Converter (VSC)
    • 5.2.2 Line Commutated Converter
  • 5.3 By Application
    • 5.3.1 Bulk Power Transmission
    • 5.3.2 Interconnecting Grids
    • 5.3.3 Infeed Urban Areas

6. Regional Market Analysis

  • 6.1 North America
  • 6.2 Europe
  • 6.3 Asia-Pacific
  • 6.4 South America
  • 6.5 Middle East & Africa

7. Key Company Profiles

  • 7.1 ABB Ltd.
  • 7.2 Siemens AG
  • 7.3 General Electric.
  • 7.4 Hitachi Ltd..
  • 7.5 Toshiba Corporation
  • 7.6 Mitsubishi Electric
  • 7.7 Nexans SA
  • 7.8 NKT A/S
  • 7.9 Nr Electric
  • 7.10 C-Epri Electric Power Engineering

8. Competitive Landscape

  • 8.1 List of Notable Players in the Market
  • 8.2 M&A, JV, and Agreements
  • 8.3 Market Share Analysis
  • 8.4 Strategies of Key Players

9. Conclusions and Recommendations

List of Tables & Figures


Additional Notes


  This report helps to:-

• Review the current state of the HVDC transmission system sector and explore trends and issues impacting the industry.

• Evaluate the attractiveness of the HVDC Transmission System market in various regions in order to plan strategically and focus on the most promising opportunities while avoiding potential perceived risks.

• Understand the market dynamics and determine which geographies and segments to target for business growth.

• Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions/countries will impact market development.

• Assess regions and specific markets for market entry opportunities and trends in market development and contractual setup to gain a long-term view of regional & country markets.

• Know your competitors’ positioning through analyzing major operators’ performance, industry rankings, and marketing strategies in key regions.

• Develop strategies to defend and expand competitive positions as part of the M&A strategy. 


  Who need this report?

• HVDC Transmission System manufacturers
• HVDC Transmission System Component Suppliers
• Project Developers
• Investor Community
• Financing Companies
• Government Bodies & Industry Organizations
• Energy Engineering, Procurement, and Construction (EPC) firms
• Inverter Companies
• Others  

  Tables and charts

Global HVDC Transmission System Market Revenue, in USD billion, 2019-2025

Global HVDC Transmission System Market Revenue Share, by Components, 2019

Global HVDC Transmission System Market Revenue Share, by Technology, 2019

Global HVDC Transmission System Market Revenue Share, by Application, 2019

Global HVDC Transmission System Market Revenue Share, by Region, 2019

Convertor station - Market Revenue, in USD billion, 2019-2025

Transmission Cable - Market Revenue, in USD billion, 2019-2025


Voltage Source Converter (VSC) - Market Revenue, in USD billion, 2019- 2025

Line Commutated Converter (LCC) - Market Revenue, in USD billion, 2019-2025

Bulk Power Transmission – Market Revenue, in USD billion, 2019-2025

Detailed list of Tables and Charts are available in the full report.

  What's included

Report - Global HVDC Transmission System Market Outlook to 2028.pdf
Market Data - Global HVDC Transmission System Market Outlook to 2028.xls

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