PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457950
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457950
HVDC Transmission Market Size and Share Analysis by Technology, Project Type, Location, Application, Component - Global Industry Demand Forecast to 2030
The HVDC transmission market generated USD 11.3 billion in 2023. By the end of this decade, it will power at a rate of 5.5% and touch USD 16.4 billion by 2030. This is because of the growing requirement for electricity at a global level, the steady shift toward renewable energy sources, initiatives of the government for grid expansion, and tech progressions in T&D.
Drivers and Trends of the Industry
The industry is growing because of the rising interest in VSC technology and the enhanced transmission efficiency of the HVDC method as opposed to HVAC systems.
A rapid emergency response and independent control of reactive and active power are possible by the HVDC-VSC tech.
The current research and development efforts have presented a vast opportunity for power transmission corporations to fully make use of the advantages of this tech and disregard its drawbacks, for example, high losses.
Shift Toward Clean and Renewable Energy is Trending
For an improved environment, renewable energy sources are good because they can reduce the GHG effect by decreasing the emission of CO2 and other harmful gases.
Renewable energy is one of the businesses, that is growing the fastest at a global level, with more funding going to novel projects than before.
This is mainly because governments of several countries are taking initiatives to surge the production of renewable energy, which will surge the need for HVDC transmission systems.
Point-to-Point Projects Will Lead the Industry
On the basis of project type, the point-to-point category led the industry. These projects are used when loads of power are required to be transported between 2 converter stations.
As a result of their reliability in the transportation of substantial power loads, bipolar designs in point-to-point transmission have observed a major growth in acceptance in the APAC region recently.
Another factor powering the expansion of the industry in this category is the rising importance of European nations on the usage of renewable energy and the ensuing need for effective energy transmission.
Overhead Transmission Systems are Used the Most
The overhead category is the leader of the industry. Owing to the lower installation costs as opposed to underground cables, this transmission mode is becoming more and more prevalent for long distances. According to reports, in 2022, most of the HVDC lines were fitted above the ground level.
Also, since lines above the ground can transport, more electricity, more power, might be transmitted to longer distances. As opposed to underground cables, overhead lines also have lower transmission losses, therefore making them further effective over long distances.
Moreover, the move toward renewable energy sources, generally found in isolated locations, compels utilities to lay overhead HVDC powerlines.
APAC is the Leader of the Market
APAC is the largest market, with a 50% share, in 2023, because the region is industrializing at a fast rate and growing financially too. This is itself because of a high concentration of industrial plants in several industries, including aerospace, electronics, automotive, chemicals, and general heavy engineering. The main drivers for the industrial sector are tax breaks, affordable labor costs, and other industry-friendly laws, which decrease the cost of goods produced for consumers.
Competitive Analysis
According to the New and Renewable Energy Ministry, India's installed renewable energy capacity augmented from 76.37 GW in 2014 to 150.54 GW in 2021, i.e., by about 97%. Renewable energy plants, such as tidal, geothermal, and hydropower, are frequently far from customers; hence, effective systems are essential to transfer energy from producers to consumers over long distances.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by technology
- 1.4.2. Market size breakdown, by project type
- 1.4.3. Market size breakdown, by location
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by component
- 1.4.6. Market size breakdown, by region
- 1.4.7. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Technology (2017-2030)
- 6.3. Market Revenue, by Project Type (2017-2030)
- 6.4. Market Revenue, by Location (2017-2030)
- 6.5. Market Revenue, by Application (2017-2030)
- 6.6. Market Revenue, by Component (2017-2030)
- 6.7. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Technology (2017-2030)
- 7.3. Market Revenue, by Project Type (2017-2030)
- 7.4. Market Revenue, by Location (2017-2030)
- 7.5. Market Revenue, by Application (2017-2030)
- 7.6. Market Revenue, by Component (2017-2030)
- 7.7. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Technology (2017-2030)
- 8.3. Market Revenue, by Project Type (2017-2030)
- 8.4. Market Revenue, by Location (2017-2030)
- 8.5. Market Revenue, by Application (2017-2030)
- 8.6. Market Revenue, by Component (2017-2030)
- 8.7. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Technology (2017-2030)
- 9.3. Market Revenue, by Project Type (2017-2030)
- 9.4. Market Revenue, by Location (2017-2030)
- 9.5. Market Revenue, by Application (2017-2030)
- 9.6. Market Revenue, by Component (2017-2030)
- 9.7. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Technology (2017-2030)
- 10.3. Market Revenue, by Project Type (2017-2030)
- 10.4. Market Revenue, by Location (2017-2030)
- 10.5. Market Revenue, by Application (2017-2030)
- 10.6. Market Revenue, by Component (2017-2030)
- 10.7. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Technology (2017-2030)
- 11.3. Market Revenue, by Project Type (2017-2030)
- 11.4. Market Revenue, by Location (2017-2030)
- 11.5. Market Revenue, by Application (2017-2030)
- 11.6. Market Revenue, by Component (2017-2030)
- 11.7. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Technology (2017-2030)
- 12.3. Market Revenue, by Project Type (2017-2030)
- 12.4. Market Revenue, by Location (2017-2030)
- 12.5. Market Revenue, by Application (2017-2030)
- 12.6. Market Revenue, by Component (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Technology (2017-2030)
- 13.3. Market Revenue, by Project Type (2017-2030)
- 13.4. Market Revenue, by Location (2017-2030)
- 13.5. Market Revenue, by Application (2017-2030)
- 13.6. Market Revenue, by Component (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Technology (2017-2030)
- 14.3. Market Revenue, by Project Type (2017-2030)
- 14.4. Market Revenue, by Location (2017-2030)
- 14.5. Market Revenue, by Application (2017-2030)
- 14.6. Market Revenue, by Component (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Technology (2017-2030)
- 15.3. Market Revenue, by Project Type (2017-2030)
- 15.4. Market Revenue, by Location (2017-2030)
- 15.5. Market Revenue, by Application (2017-2030)
- 15.6. Market Revenue, by Component (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Technology (2017-2030)
- 16.3. Market Revenue, by Project Type (2017-2030)
- 16.4. Market Revenue, by Location (2017-2030)
- 16.5. Market Revenue, by Application (2017-2030)
- 16.6. Market Revenue, by Component (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Technology (2017-2030)
- 17.3. Market Revenue, by Project Type (2017-2030)
- 17.4. Market Revenue, by Location (2017-2030)
- 17.5. Market Revenue, by Application (2017-2030)
- 17.6. Market Revenue, by Component (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Technology (2017-2030)
- 18.3. Market Revenue, by Project Type (2017-2030)
- 18.4. Market Revenue, by Location (2017-2030)
- 18.5. Market Revenue, by Application (2017-2030)
- 18.6. Market Revenue, by Component (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Technology (2017-2030)
- 19.3. Market Revenue, by Project Type (2017-2030)
- 19.4. Market Revenue, by Location (2017-2030)
- 19.5. Market Revenue, by Application (2017-2030)
- 19.6. Market Revenue, by Component (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Technology (2017-2030)
- 20.3. Market Revenue, by Project Type (2017-2030)
- 20.4. Market Revenue, by Location (2017-2030)
- 20.5. Market Revenue, by Application (2017-2030)
- 20.6. Market Revenue, by Component (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Technology (2017-2030)
- 21.3. Market Revenue, by Project Type (2017-2030)
- 21.4. Market Revenue, by Location (2017-2030)
- 21.5. Market Revenue, by Application (2017-2030)
- 21.6. Market Revenue, by Component (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Technology (2017-2030)
- 22.3. Market Revenue, by Project Type (2017-2030)
- 22.4. Market Revenue, by Location (2017-2030)
- 22.5. Market Revenue, by Application (2017-2030)
- 22.6. Market Revenue, by Component (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Technology (2017-2030)
- 23.3. Market Revenue, by Project Type (2017-2030)
- 23.4. Market Revenue, by Location (2017-2030)
- 23.5. Market Revenue, by Application (2017-2030)
- 23.6. Market Revenue, by Component (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Technology (2017-2030)
- 24.3. Market Revenue, by Project Type (2017-2030)
- 24.4. Market Revenue, by Location (2017-2030)
- 24.5. Market Revenue, by Application (2017-2030)
- 24.6. Market Revenue, by Component (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Technology (2017-2030)
- 25.3. Market Revenue, by Project Type (2017-2030)
- 25.4. Market Revenue, by Location (2017-2030)
- 25.5. Market Revenue, by Application (2017-2030)
- 25.6. Market Revenue, by Component (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Technology (2017-2030)
- 26.3. Market Revenue, by Project Type (2017-2030)
- 26.4. Market Revenue, by Location (2017-2030)
- 26.5. Market Revenue, by Application (2017-2030)
- 26.6. Market Revenue, by Component (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Technology (2017-2030)
- 27.3. Market Revenue, by Project Type (2017-2030)
- 27.4. Market Revenue, by Location (2017-2030)
- 27.5. Market Revenue, by Application (2017-2030)
- 27.6. Market Revenue, by Component (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Technology (2017-2030)
- 28.3. Market Revenue, by Project Type (2017-2030)
- 28.4. Market Revenue, by Location (2017-2030)
- 28.5. Market Revenue, by Application (2017-2030)
- 28.6. Market Revenue, by Component (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Hitachi Ltd.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Siemens AG
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Toshiba Energy Systems & Solutions Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. General Electric Company
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. NR Electric Co. Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Prysmian S.p.A.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Mitsubishi Electric Corporation
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Nexans S.A.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. ABB Ltd.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. NKT Group of Companies
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
