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PUBLISHER: IMARC | PRODUCT CODE: 1225542
PUBLISHER: IMARC | PRODUCT CODE: 1225542
HVDC Transmission Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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The global HVDC transmission systems market size reached US$ 10.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.11% during 2023-2028.
The high voltage direct current (HVDC) transmission system relies on direct current (DC) to transmit power in long distances. It comprises a converter, rectifier, inverter, electrodes, smoothing reactors, direct current (DC) lines, harmonic filters, reactive power supplies, and alternate current (AC) circuit breakers. It is widely used in modern power transmission due to its simple constructional feature and less complexity. It provides efficient and economical transmission of power while meeting the requirements of growing load demands. In addition, it assists in transmitting bulk power while reducing power losses. Apart from this, it helps transfer power through submarine cables without voltage fluctuations.
HVDC Transmission Systems Market Trends:
- The growing utilization of HVDC transmission systems for bulk power transmission, interconnecting grids, and in-feed urban areas represents one of the key factors driving the market. Besides this, there is a rise in the demand for cable-based transmission compared to overhead transmission lines across the globe. This, along with the burgeoning electrical industry, is contributing to the growth of the market. Moreover, the increasing development of smart cities to use smart technologies for managing assets and resources is offering lucrative growth opportunities to industry investors. In addition, the growing demand for cost-effective solutions for long-distance power transmission is positively influencing the market. Apart from this, there is an increase in the demand for valves and circuit breakers to break the circuit and stop the current flow when the current exceeds a predetermined value without causing damage to the circuit. This, coupled with the expansion of submarine power transmission systems, is catalyzing the demand for HVDC transmission systems. Additionally, the escalating demand for renewable sources of energy to reduce greenhouse gas emissions and air pollution is bolstering the growth of the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global HVDC transmission systems market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, transmission type, technology, project type and application.
Breakup by Component:
- Converter Stations
- Transmission Medium (Cables)
Breakup by Transmission Type:
- Submarine HVDC Transmission System
- HVDC Overhead Transmission System
- HVDC Underground Transmission System
Breakup by Technology:
- Capacitor Commutated Converter (CCC)
- Voltage Source Converter (VSC)
- Line Commutated Converter (LCC)
Breakup by Project Type:
- Point-to-Point
- Back-to-Back
- Multi-terminal
Breakup by Application:
- Bulk Power Transmission
- Interconnecting Grids
- Infeed Urban Areas
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., General Electric Company, Hitachi Ltd., LS ELECTRIC Co. Ltd., Mitsubishi Electric Corporation, Nexans S.A., NKT A/S, NR Electric Co. Ltd., Prysmian Group, Siemens AG and Toshiba Corporation.
- Key Questions Answered in This Report
- 1. What was the size of the global HVDC transmission systems market in 2022?
- 2. What is the expected growth rate of the global HVDC transmission systems market during 2023-2028?
- 3. What are the key factors driving the global HVDC transmission systems market?
- 4. What has been the impact of COVID-19 on the global HVDC transmission systems market?
- 5. What is the breakup of the global HVDC transmission systems market based on the component?
- 6. What is the breakup of the global HVDC transmission systems market based on the transmission type?
- 7. What are the key regions in the global HVDC transmission systems market?
- 8. Who are the key players/companies in the global HVDC transmission systems market?
Product Code: SR1423A383_Report
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global HVDC Transmission Systems Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Converter Stations
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Transmission Medium (Cables)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Transmission Type
- 7.1 Submarine HVDC Transmission System
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 HVDC Overhead Transmission System
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 HVDC Underground Transmission System
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Technology
- 8.1 Capacitor Commutated Converter (CCC)
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Voltage Source Converter (VSC)
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Line Commutated Converter (LCC)
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Project Type
- 9.1 Point-to-Point
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Back-to-Back
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Multi-terminal
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by Application
- 10.1 Bulk Power Transmission
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Interconnecting Grids
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Infeed Urban Areas
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
11 Market Breakup by Region
- 11.1 North America
- 11.1.1 United States
- 11.1.1.1 Market Trends
- 11.1.1.2 Market Forecast
- 11.1.2 Canada
- 11.1.2.1 Market Trends
- 11.1.2.2 Market Forecast
- 11.1.1 United States
- 11.2 Asia-Pacific
- 11.2.1 China
- 11.2.1.1 Market Trends
- 11.2.1.2 Market Forecast
- 11.2.2 Japan
- 11.2.2.1 Market Trends
- 11.2.2.2 Market Forecast
- 11.2.3 India
- 11.2.3.1 Market Trends
- 11.2.3.2 Market Forecast
- 11.2.4 South Korea
- 11.2.4.1 Market Trends
- 11.2.4.2 Market Forecast
- 11.2.5 Australia
- 11.2.5.1 Market Trends
- 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
- 11.2.6.1 Market Trends
- 11.2.6.2 Market Forecast
- 11.2.7 Others
- 11.2.7.1 Market Trends
- 11.2.7.2 Market Forecast
- 11.2.1 China
- 11.3 Europe
- 11.3.1 Germany
- 11.3.1.1 Market Trends
- 11.3.1.2 Market Forecast
- 11.3.2 France
- 11.3.2.1 Market Trends
- 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
- 11.3.3.1 Market Trends
- 11.3.3.2 Market Forecast
- 11.3.4 Italy
- 11.3.4.1 Market Trends
- 11.3.4.2 Market Forecast
- 11.3.5 Spain
- 11.3.5.1 Market Trends
- 11.3.5.2 Market Forecast
- 11.3.6 Russia
- 11.3.6.1 Market Trends
- 11.3.6.2 Market Forecast
- 11.3.7 Others
- 11.3.7.1 Market Trends
- 11.3.7.2 Market Forecast
- 11.3.1 Germany
- 11.4 Latin America
- 11.4.1 Brazil
- 11.4.1.1 Market Trends
- 11.4.1.2 Market Forecast
- 11.4.2 Mexico
- 11.4.2.1 Market Trends
- 11.4.2.2 Market Forecast
- 11.4.3 Others
- 11.4.3.1 Market Trends
- 11.4.3.2 Market Forecast
- 11.4.1 Brazil
- 11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast
12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 ABB Ltd.
- 16.3.1.1 Company Overview
- 16.3.1.2 Product Portfolio
- 16.3.1.3 Financials
- 16.3.1.4 SWOT Analysis
- 16.3.2 General Electric Company
- 16.3.2.1 Company Overview
- 16.3.2.2 Product Portfolio
- 16.3.2.3 Financials
- 16.3.2.4 SWOT Analysis
- 16.3.3 Hitachi Ltd.
- 16.3.3.1 Company Overview
- 16.3.3.2 Product Portfolio
- 16.3.3.3 Financials
- 16.3.3.4 SWOT Analysis
- 16.3.4 LS ELECTRIC Co. Ltd.
- 16.3.4.1 Company Overview
- 16.3.4.2 Product Portfolio
- 16.3.4.3 Financials
- 16.3.4.4 SWOT Analysis
- 16.3.5 Mitsubishi Electric Corporation
- 16.3.5.1 Company Overview
- 16.3.5.2 Product Portfolio
- 16.3.5.3 Financials
- 16.3.5.4 SWOT Analysis
- 16.3.6 Nexans S.A.
- 16.3.6.1 Company Overview
- 16.3.6.2 Product Portfolio
- 16.3.6.3 Financials
- 16.3.6.4 SWOT Analysis
- 16.3.7 NKT A/S
- 16.3.7.1 Company Overview
- 16.3.7.2 Product Portfolio
- 16.3.7.3 Financials
- 16.3.8 NR Electric Co. Ltd.
- 16.3.8.1 Company Overview
- 16.3.8.2 Product Portfolio
- 16.3.9 Prysmian Group
- 16.3.9.1 Company Overview
- 16.3.9.2 Product Portfolio
- 16.3.9.3 Financials
- 16.3.9.4 SWOT Analysis
- 16.3.10 Siemens AG
- 16.3.10.1 Company Overview
- 16.3.10.2 Product Portfolio
- 16.3.10.3 Financials
- 16.3.10.4 SWOT Analysis
- 16.3.11 Toshiba Corporation
- 16.3.11.1 Company Overview
- 16.3.11.2 Product Portfolio
- 16.3.11.3 Financials
- 16.3.11.4 SWOT Analysis
- 16.3.1 ABB Ltd.
Product Code: SR1423A383_Report
List of Figures
- Figure 1: Global: HVDC Transmission Systems Market: Major Drivers and Challenges
- Figure 2: Global: HVDC Transmission Systems Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: HVDC Transmission Systems Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: HVDC Transmission Systems Market: Breakup by Component (in %), 2022
- Figure 5: Global: HVDC Transmission Systems Market: Breakup by Transmission Type (in %), 2022
- Figure 6: Global: HVDC Transmission Systems Market: Breakup by Technology (in %), 2022
- Figure 7: Global: HVDC Transmission Systems Market: Breakup by Project Type (in %), 2022
- Figure 8: Global: HVDC Transmission Systems Market: Breakup by Application (in %), 2022
- Figure 9: Global: HVDC Transmission Systems Market: Breakup by Region (in %), 2022
- Figure 10: Global: HVDC Transmission Systems (Converter Stations) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: HVDC Transmission Systems (Converter Stations) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: HVDC Transmission Systems (Transmission Medium-Cables) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: HVDC Transmission Systems (Transmission Medium-Cables) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: HVDC Transmission Systems (Submarine HVDC Transmission System) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: HVDC Transmission Systems (Submarine HVDC Transmission System) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: HVDC Transmission Systems (HVDC Overhead Transmission System) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: HVDC Transmission Systems (HVDC Overhead Transmission System) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: HVDC Transmission Systems (HVDC Underground Transmission System) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: HVDC Transmission Systems (HVDC Underground Transmission System) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: HVDC Transmission Systems (Capacitor Commutated Converter-CCC) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: HVDC Transmission Systems (Capacitor Commutated Converter-CCC) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: HVDC Transmission Systems (Voltage Source Converter-VSC) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: HVDC Transmission Systems (Voltage Source Converter-VSC) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: HVDC Transmission Systems (Line Commutated Converter -LCC) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: HVDC Transmission Systems (Line Commutated Converter -LCC) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: HVDC Transmission Systems (Point-to-Point) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: HVDC Transmission Systems (Point-to-Point) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: HVDC Transmission Systems (Back-to-Back) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: HVDC Transmission Systems (Back-to-Back) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: HVDC Transmission Systems (Multi-terminal) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: HVDC Transmission Systems (Multi-terminal) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: HVDC Transmission Systems (Bulk Power Transmission) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: HVDC Transmission Systems (Bulk Power Transmission) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Global: HVDC Transmission Systems (Interconnecting Grids) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Global: HVDC Transmission Systems (Interconnecting Grids) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Global: HVDC Transmission Systems (Infeed Urban Areas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Global: HVDC Transmission Systems (Infeed Urban Areas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: North America: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: North America: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: United States: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: United States: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Canada: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Canada: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Asia-Pacific: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Asia-Pacific: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: China: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: China: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Japan: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Japan: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: India: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: India: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: South Korea: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: South Korea: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Australia: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Australia: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Indonesia: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Indonesia: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Others: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Others: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Europe: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Europe: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Germany: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Germany: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: France: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: France: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: United Kingdom: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: United Kingdom: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Italy: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Italy: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Spain: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Spain: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Russia: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Russia: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Others: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Others: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Latin America: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Latin America: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Brazil: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Brazil: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Mexico: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Mexico: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 82: Others: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 83: Others: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 84: Middle East and Africa: HVDC Transmission Systems Market: Sales Value (in Million US$), 2017 & 2022
- Figure 85: Middle East and Africa: HVDC Transmission Systems Market: Breakup by Country (in %), 2022
- Figure 86: Middle East and Africa: HVDC Transmission Systems Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 87: Global: HVDC Transmission Systems Industry: SWOT Analysis
- Figure 88: Global: HVDC Transmission Systems Industry: Value Chain Analysis
- Figure 89: Global: HVDC Transmission Systems Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: HVDC Transmission Systems Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: HVDC Transmission Systems Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 3: Global: HVDC Transmission Systems Market Forecast: Breakup by Transmission Type (in Million US$), 2023-2028
- Table 4: Global: HVDC Transmission Systems Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 5: Global: HVDC Transmission Systems Market Forecast: Breakup by Project Type (in Million US$), 2023-2028
- Table 6: Global: HVDC Transmission Systems Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 7: Global: HVDC Transmission Systems Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 8: Global: HVDC Transmission Systems Market: Competitive Structure
- Table 9: Global: HVDC Transmission Systems Market: Key Players
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