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PUBLISHER: Grand View Research | PRODUCT CODE: 1908668
PUBLISHER: Grand View Research | PRODUCT CODE: 1908668
HVDC Transmission Market Size, Share & Trends Analysis Report By Technology (Line Commutated Converter (LCC), Voltage Source Converter (VSC)), By Application (Overhead, Subsea), By Region, And Segment Forecasts, 2026 - 2033
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PAGES: 120 Pages
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HVDC Transmission Market Summary
The global HVDC transmission market size was estimated at USD 12.69 billion in 2025 and is projected to reach USD 17.60 billion by 2033, growing at a CAGR of 4.2% from 2026 to 2033. An HVDC transmission system operates by converting alternating current to direct current for long-distance, high-capacity transfer, resulting in significantly lower electrical losses, enhanced controllability, and improved grid stability compared to conventional AC networks.
Continued technological progress in converter stations, cable systems, and power electronics, along with the growing adoption of long-distance renewable power transmission, are major factors driving the expansion of the HVDC transmission industry. Rising government support for grid modernization and cross-border interconnection projects aimed at integrating large-scale renewable energy is also strengthening demand across the global market.
The global HVDC transmission system market continues to advance on the back of rising demand for reliable, flexible, and low-loss long-distance power transfer solutions, particularly in regions transitioning away from coal-based power grids. Utilities and governments are increasingly investing in HVDC infrastructure to support decarbonization goals, integrate large-scale renewable energy, and enhance grid stability. The growing adoption of flexible HVDC transmission system market technologies, especially VSC-based solutions capable of supporting dynamic grid operations, plays a critical role in addressing the variability of wind and solar generation. Continuous advancements in converter designs, digital control systems, and multi-terminal configurations further strengthen market momentum globally.
Global HVDC Transmission Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels 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 global HVDC Transmission market report based on technology, application, and region:
- Technology Outlook (Revenue, USD Million, 2021 - 2033)
- Line Commutated Converter (LCC)
- Voltage Source Converter (VSC)
- Application Outlook (Revenue, USD Million, 2021 - 2033)
- Overhead
- Subsea
- Mixed
- Underground
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
Product Code: GVR-4-68040-410-7
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. HVDC Transmission Market: Technology Estimates & Trend Analysis
- 4.1. HVDC Transmission Market: Technology Movement Analysis, 2025 & 2033
- 4.2. Line Commutated Converter (LCC)
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.3. Voltage Source Converter (VSC)
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 5. HVDC Transmission Market: Application Estimates & Trend Analysis
- 5.1. HVDC Transmission Market: Application Movement Analysis, 2025 & 2033
- 5.2. Overhead
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.3. Subsea
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4. Mixed
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.5. Underground
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 6. HVDC Transmission Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2025 & 2033
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.2.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.2.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.2.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.2.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.3.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.3.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.3.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.3.6. France
- 6.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.3.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.4.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.4.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.4.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.4.7. South Korea
- 6.4.7.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.7.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.4.7.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.5.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.5.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.6.4. Saudi Arabia
- 6.6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.6.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
- 6.6.5. UAE
- 6.6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
- 6.6.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments By Key Market Participants
- 7.2. Company Categorization
- 7.3. List of Key Component Suppliers & Channel Partners
- 7.4. Company Market Share & Positioning Analysis, 2025
- 7.5. Heat Map Analysis
- 7.6. Vendor Landscape
- 7.6.1. List of Raw Material Suppliers
- 7.6.2. List of Distributors/Traders
- 7.6.3. List of Other Prominent Manufacturers
- 7.7. List of Prospective End Users
- 7.8. Strategy Mapping
- 7.9. Company Profiles/Listing
- 7.9.1. Hitachi Energy
- 7.9.1.1. Company Overview
- 7.9.1.2. Financial Performance
- 7.9.1.3. Product Benchmarking
- 7.9.2. Siemens Energy AG
- 7.9.2.1. Company Overview
- 7.9.2.2. Financial Performance
- 7.9.2.3. Product Benchmarking
- 7.9.3. General Electric Company (GE Grid Solutions)
- 7.9.3.1. Company Overview
- 7.9.3.2. Financial Performance
- 7.9.3.3. Product Benchmarking
- 7.9.4. Mitsubishi Electric Corporation
- 7.9.4.1. Company Overview
- 7.9.4.2. Financial Performance
- 7.9.4.3. Product Benchmarking
- 7.9.5. Toshiba Corporation
- 7.9.5.1. Company Overview
- 7.9.5.2. Financial Performance
- 7.9.5.3. Product Benchmarking
- 7.9.6. NR Electric Co., Ltd.
- 7.9.6.1. Company Overview
- 7.9.6.2. Financial Performance
- 7.9.6.3. Product Benchmarking
- 7.9.7. Nexans SA
- 7.9.7.1. Company Overview
- 7.9.7.2. Financial Performance
- 7.9.7.3. Product Benchmarking
- 7.9.8. Prysmian Group
- 7.9.8.1. Company Overview
- 7.9.8.2. Financial Performance
- 7.9.8.3. Product Benchmarking
- 7.9.9. LS Electric Co., Ltd.
- 7.9.9.1. Company Overview
- 7.9.9.2. Financial Performance
- 7.9.9.3. Product Benchmarking
- 7.9.10. American Superconductor Corporation (AMSC)
- 7.9.10.1. Company Overview
- 7.9.10.2. Financial Performance
- 7.9.10.3. Product Benchmarking
- 7.9.1. Hitachi Energy
Product Code: GVR-4-68040-410-7
List of Tables
- Table 1 HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 2 Line Commutated Converter (LCC) market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 3 Voltage Source Converter (VSC) market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 4 HVDC Transmission market estimates & forecasts, in Overhead, 2021 - 2033 (USD Million)
- Table 5 HVDC Transmission market estimates & forecasts, in Subsea, 2021 - 2033 (USD Million)
- Table 6 HVDC Transmission market estimates & forecasts, in Mixed, 2021 - 2033 (USD Million)
- Table 7 HVDC Transmission market estimates & forecasts, in Underground, 2021 - 2033 (USD Million)
- Table 8 North America HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 9 North America HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 10 North America HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 11 U.S. HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 12 U.S. HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 13 U.S. HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 14 Canada HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 15 Canada HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 16 Canada HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 17 Mexico HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 18 Mexico HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 19 Mexico HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 20 Europe HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 21 Europe HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 22 Europe HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 23 Germany HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 24 Germany HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 25 Germany HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 26 France HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 27 France HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 28 France HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 29 UK HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 30 UK HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 31 UK HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 32 Asia Pacific HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 33 Asia Pacific HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 34 Asia Pacific HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 35 China HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 36 China HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 37 China HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 38 Japan HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 39 Japan HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 40 Japan HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 41 South Korea HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 42 South Korea HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 43 South Korea HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 44 India HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 45 India HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 46 India HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 47 Latin America HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 48 Latin America HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 49 Latin America HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 50 Brazil HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 51 Brazil HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 52 Brazil HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 53 Middle East & Africa HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 54 Middle East & Africa HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 55 Middle East & Africa HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 56 Saudi Arabia HVDC Transmission market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 57 Saudi Arabia HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 58 Saudi Arabia HVDC Transmission market estimates & forecasts by application, 2021 - 2033 (USD Million)
- Table 59 UAE HVDC Transmission market estimates & forecast, 2021 - 2033 (USD Million)
- Table 60 UAE HVDC Transmission market estimates & forecasts by technology, 2021 - 2033 (USD Million)
- Table 61 UAE HVDC Transmission market estimates & forecasts by application, 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 - Application & Technology
- Fig 8 Competitive Outlook
- Fig 9 HVDC Transmission 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 HVDC Transmission market, by technology: Key takeaways
- Fig 15 HVDC Transmission market, by technology: Market share, 2025 & 2033
- Fig 16 HVDC Transmission market, by application: Key takeaways
- Fig 17 HVDC Transmission market, by application: Market share, 2025 & 2033
- Fig 18 HVDC Transmission market: Regional analysis, 2025 & 2033
- Fig 19 HVDC Transmission market, by region: Key takeaways
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