HVDC Transmission Market Size in 2023 To 2029 | Hitachi (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), General Electric (US), and Prysmian Group (Italy)

The report offers detailed measurements about the drivers, development, and prospects that have a direct impact on the HVDC Transmission market. The market study contains an in-depth analysis of the international HVDC Transmission Market based on the key boundaries that encompass the drivers, sales inquiry, market limits & share. Furthermore, the report highlights the assessment of the market size in four key regions: North America, Europe, Asia-Pacific, and Rest of World. The research study aims to provide readers with an intensive valuation of current industry trends and breakdown. It spans global HVDC Transmission market research data from various companies, benefits, gross margin, calculated decisions in the worldwide market, and more through tables, charts, and infographics. Other significant aspects studied in this report include demand and supply dynamics, import & export scenarios, R&D development activities, industry developments, and cost structures. Additionally, consumption demand and supply figures, cost of production, and selling price of products are also estimated in this report.

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𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭
The major players in the HVDC transmission market are Hitachi (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), General Electric (US), and Prysmian Group (Italy), among others. These companies focus on strategies such as collaborations, partnerships, acquisitions, and joint ventures to strengthen their position in the HVDC transmission market.

This report will help new entrants or stakeholders understand the complete market dynamics within HVDC Transmission. The report examines the competitive scenario along with the future market landscape using various frameworks such as Porter's five forces and the parent/peer market. It considers the portfolios of key market players operating in the HVDC Transmission market, coupled with a comprehensive study of the products and services they offer. Moreover, this report aims to help readers understand the impact of government rules during the Covid-19 pandemic and estimate market changes throughout the global pandemic. The Global HVDC Transmission Market also sheds light on the major players in the sector, detailing their product portfolio, business policies, company profiles, and revenue share. Finally, the study defines strategies such as partnerships, development, collaborations, joint projects, and others executed by industry leaders to enhance their status in the sector.

"Increasing number of VSC-based HVDC projects and increasing demand for reliable power supplies are the major factors contributing to the market growth of HVDC transmission market globally."

The HVDC transmission market is projected to reach USD 14.9 billion by 2028 from USD 11.4 billion in 2023, at a CAGR of 5.4% during the 2023-2028 period. The increasing number of VSC-based HVDC projects, the growing number of renewable energy projects globally, surging demand for reliable power supplies, and supportive government initiatives for power transmission are the major factors driving the market growth globally. Furthermore, an increasing number of technological advancements related to HVDC transmission and the growing need for integration of power grids are expected to provide ample growth opportunities for market players.

"Infeed urban areas application to register the highest CAGR in the HVDC transmission market during the forecast period."

HVDC transmission is highly suitable for transmitting electricity into densely populated urban areas where overhead transmission lines could cause significant obstructions. Despite being more expensive, underground transmission lines are extensively preferred in urban areas where it is difficult to have overhead transmission cables. Furthermore, in recent areas, underground cables have been used in various urban infrastructure development projects for aesthetic appeal. The growing number of urban development projects globally is expected to provide growth opportunities for market players in the HVDC transmission market.

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Research Coverage

The report segments the HVDC transmission market and forecasts its size based on component, project type, technology, application, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.

Reasons to buy the report:

The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall HVDC transmission market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

This release was published on openPR.