PUBLISHER: Grand View Research | PRODUCT CODE: 1814021
PUBLISHER: Grand View Research | PRODUCT CODE: 1814021
U.S. HVDC Converter Station Market Size, Share & Trends Analysis Report By Type (Bi-Polar, Monopolar, Back-to-Back, Multi Terminal), By Technology (Line Commutated Converter (LCC) and Voltage Source Converter (VSC)), And Segment Forecasts, 2025 - 2033
U.S. HVDC Converter Station Market Summary
The U.S. HVDC converter station market size was estimated at USD 3.20 billion in 2024 and is projected to reach USD 8.92 billion by 2033, growing at a CAGR of 11.8% from 2025 to 2033. This growth is primarily driven by rising investments in long-distance high-voltage transmission infrastructure, grid modernization initiatives, and increasing integration of renewable energy sources such as solar and wind.
As the U.S. energy sector transitions towards a more sustainable and interconnected grid, deploying HVDC (High Voltage Direct Current) converter stations is critical for efficient power transfer, reduced line losses, and enhanced grid stability across vast geographies.
HVDC converter stations enable point-to-point bulk power transmission and link asynchronous grids. Their use is especially prominent in cross-country transmission, offshore wind integration, and interconnection of renewable-rich remote regions with high-demand urban centers. Compared to AC systems, HVDC offers lower transmission losses and better control over power flow, making it a strategic choice for grid operators. In the U.S., growing offshore wind capacity in the Northeast, energy exchange between the Eastern and Western Interconnections, and the federal focus on grid resilience contribute to robust market demand. Furthermore, technological advancements in Voltage Source Converter (VSC) systems and public-private investments in clean energy infrastructure are expected to support steady market expansion through 2033.
Drivers, Opportunities & Restraints
The U.S. HVDC converter station industry is gaining strong traction due to the surging demand for long-distance, high-capacity, and energy-efficient power transmission solutions. As utilities, transmission system operators, and renewable developers aim to enhance grid stability and interconnectivity, HVDC converter stations offer a proven method to reduce transmission losses and control power flow more precisely. The rising integration of offshore wind, solar farms, and interregional power links accelerates HVDC deployment. At the same time, government-led grid modernization programs and decarbonization targets further reinforce market momentum across the United States.
Opportunities in the U.S. market are expanding as HVDC converter stations become integral to multi-gigawatt transmission projects, cross-border interconnections, and large-scale renewable energy corridors. Advances in Voltage Source Converter (VSC) technologies enable more compact, modular, and flexible station designs, making HVDC systems viable for urban and offshore applications. However, several restraints persist. The high upfront capital costs associated with station construction, equipment procurement, and permitting can delay project implementation. Moreover, complex regulatory approvals and the need for specialized technical expertise may limit faster adoption. Despite these challenges, the long-term outlook remains optimistic, backed by the market's critical role in enabling a cleaner, more resilient U.S. power grid.
U.S. HVDC Converter Station Market Report Segmentation
This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the U.S. HVDC converter station market report based on the type and technology
- Type Outlook (Revenue, USD Million, 2021 - 2033)
- Bi-Polar
- Monopolar
- Back-to-back
- Multi Terminal
- Technology Outlook (Revenue, USD Million, 2021 - 2033)
- Line Commutated Converter (LCC)
- Voltage Source Converter (VSC)
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliance
- 3.4.2. Regulatory Impact Analysis
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunities
- 3.5.4. Market Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. U.S. HVDC Converter Station Market: Type Estimates & Trend Analysis
- 4.1. U.S. HVDC Converter Station Market: Type Movement Analysis, 2024 & 2033
- 4.2. Bi-Polar
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.3. Monopolar
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4. Back-to-back
- 4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.5. Multi Terminal
- 4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 5. U.S. HVDC Converter Station Market: Technology Estimates & Trend Analysis
- 5.1. U.S. HVDC Converter Station Market: Technology Movement Analysis, 2024 & 2033
- 5.2. Line Commutated Converter (LCC)
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.3. Voltage Source Converter (VSC)
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 6. Competitive Landscape
- 6.1. Recent Developments By Key Market Participants
- 6.2. Company Categorization
- 6.3. List of Key Component Suppliers & Channel Partners
- 6.4. Company Market Share & Positioning Analysis, 2024
- 6.5. Heat Map Analysis
- 6.6. Vendor Landscape
- 6.6.1. List of Raw Type Suppliers
- 6.6.2. List of Distributors/Traders
- 6.6.3. List of Other Prominent Manufacturers
- 6.7. List of Prospective End Users
- 6.8. Strategy Mapping
- 6.9. Company Profiles/Listing
- 6.9.1. Hitachi Energy
- 6.9.1.1. Company Overview
- 6.9.1.2. Financial Performance
- 6.9.1.3. Product Benchmarking
- 6.9.2. Siemens Energy
- 6.9.2.1. Company Overview
- 6.9.2.2. Financial Performance
- 6.9.2.3. Product Benchmarking
- 6.9.3. GE Vernova
- 6.9.3.1. Company Overview
- 6.9.3.2. Financial Performance
- 6.9.3.3. Product Benchmarking
- 6.9.4. NR Electric
- 6.9.4.1. Company Overview
- 6.9.4.2. Financial Performance
- 6.9.4.3. Product Benchmarking
- 6.9.5. Toshiba Energy Systems & Solutions
- 6.9.5.1. Company Overview
- 6.9.5.2. Financial Performance
- 6.9.5.3. Product Benchmarking
- 6.9.6. Mitsubishi Electric
- 6.9.6.1. Company Overview
- 6.9.6.2. Financial Performance
- 6.9.6.3. Product Benchmarking
- 6.9.7. Alstom Grid
- 6.9.7.1. Company Overview
- 6.9.7.2. Financial Performance
- 6.9.7.3. Product Benchmarking
- 6.9.8. Prysmian Group
- 6.9.8.1. Company Overview
- 6.9.8.2. Financial Performance
- 6.9.8.3. Product Benchmarking
- 6.9.9. Schneider Electric
- 6.9.9.1. Company Overview
- 6.9.9.2. Financial Performance
- 6.9.9.3. Product Benchmarking
- 6.9.10. Quanta Services
- 6.9.10.1. Company Overview
- 6.9.10.2. Financial Performance
- 6.9.10.3. Product Benchmarking
- 6.9.1. Hitachi Energy
List of Tables
- Table 1. U.S. HVDC Converter Station market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 2. Bi-Polar market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 3. Monopolar market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 4. Back-to-back market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 5. Multi Terminal market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 6. U.S. HVDC Converter Station market estimates & forecasts, in Line Commutated Converter (LCC), 2021 - 2033 (USD Million)
- Table 7. U.S. HVDC Converter Station market estimates & forecasts, in Voltage Source Converter (VSC), 2021 - 2033 (USD Million)
List of Figures
- Fig 1. Market segmentation
- Fig 2. Information procurement
- Fig 3. Data analysis models
- Fig 4. Market formulation and validation
- Fig 5. Data validating & publishing
- Fig 6. Market snapshot
- Fig 7. Segmental outlook - Type & Technology
- Fig 8. Competitive Outlook
- Fig 9. U.S. HVDC Converter Station market outlook, 2021 - 2033 (USD Million)
- Fig 10. Value chain analysis
- Fig 11. Market dynamics
- Fig 12. Porter's Analysis
- Fig 13. PESTEL Analysis
- Fig 14. U.S. HVDC Converter Station market, by type: Key takeaways
- Fig 15. U.S. HVDC Converter Station market, by type: Market share, 2024 & 2033
- Fig 16. U.S. HVDC Converter Station market, by technology: Key takeaways
- Fig 17. U.S. HVDC Converter Station market, by technology: Market share, 2024 & 2033
