HVDC Transmission Market to reach USD 19.49 Bn by 2030, growing at a CAGR of 8.7 percent and forecast (2024-2030)

The HVDC Transmission Market is segmented into HVDC Transmission Component, Technology, Transmission Type, Transmission Type and Region. The Bottom-Up Approach Was Used for the Estimation of the HVDC Transmission Market Size.

Maximize Market Research, an international business & consultancy firm has recently published a research report on the "HVDC Transmission Market". The total global market size for the "HVDC Transmission Market" was valued at USD 10.87 Bn in 2023 and is expected to grow at a CAGR of 8.7 percent over the forecast period to reach USD 19.49 Bn by 2030.

Market Size in 2023: USD 10.87 Billion
Market Size in 2030: USD 19.49 Billion
CAGR: 8.7 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 220
No. of Tables: 137
No. of Charts and Figures: 196
Segment Covered: By Component, Technology, Transmission Type, Transmission Type
Regional Scope: North America, Europe, Asia Pacific, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

HVDC Transmission Market Report Scope and Research Methodology

The report covers the regional and country-level analysis of the HVDC Transmission Market. The report provides the market size and CAGR. The report provides market dynamics including market size, value, volume, revenue, sales, and other key factors related to the Market. The report presents a comprehensive overview, of the HVDC Transmission Market shares, drivers, restraints, and growth opportunities of the market. Every segment of the industry is evaluated based on growth rate and share of the market. The key market players by region, along with their revenue, financial status, and technical developments, are analyzed to understand the market's competitive landscape. The bottom-up approach was used to estimate the HVDC Transmission Market size.

HVDC Transmission Market Overview

HVDC transmission is efficient for long-distance power transfer, integrating renewables, and interconnecting grids. It reduces losses, increases capacity, and supports rising electricity demand, while safer cable-based lines drive market growth over overhead alternatives.

HVDC Transmission Market Dynamics

POWERGRID is driving the HVDC Transmission Market by aiming for 50% renewable energy by 2025 and net zero by 2047. It's installing large-scale solar PV projects and replacing diesel vehicles with EVs. HVDC interconnections boost grid stability, enable power trading, and optimize resource use. Government investments and policies supporting clean energy and grid modernization further drive HVDC adoption. Technological advancements in HVDC systems improve efficiency and reliability, making them ideal for long-distance and underwater transmission. Renewables integration is a significant growth opportunity, with HVDC technology facilitating efficient transmission from remote energy farms to urban centers. India's adoption of HVDC and smart grids addresses transmission inefficiencies, promoting energy sustainability and expanding the HVDC Transmission Market.

HVDC Transmission Market Regional Analysis

The Asia Pacific region accounted for the largest HVDC Transmission market growth. The rapid urbanization in Asia-Pacific drives the need for advanced energy infrastructure, boosting the adoption of HVDC technology. Massive population growth and migration to cities demand dependable, high-capacity power transmission. The region's rapid development of conventional and renewable power plants underlines its pivotal role in the global HVDC transmission industry. Rising energy demands from urbanization, industrialization, and improved living standards push governments to diversify power production. HVDC transmission efficiently connects remote generation facilities to urban centers, overcoming traditional AC line limitations, and making Asia-Pacific a leader in energy transmission innovation and growth.

HVDC Transmission Market Segment Analysis

By Component:

• Converter Stations
• Transmission Cables
• Others

By Technology:

• Capacitor Commutated Converter
• Voltage Source Converter
• Line Commutated Converter

In 2023, the LCC segment dominated the global HVDC market due to its high efficiency, reliability, and cost-effectiveness for long-distance bulk power transmission. LCC's advanced technology ensures its continued preference. With continuous advancement in Capacitor Commutated Converter, this segment is expected to grow at a significant CAGR.

By Transmission Type:
• Submarine
• Overhead
• Underground

The demands for massive renewable energy integration, passive network power supply, and global energy interconnection have all gradually increased, posing new challenges for high voltage direct current (HVDC) power transmission systems, including more complex topology and increased diversity of bipolar HVDC transmission. Overhead HVDC transmission lines, with lower electricity losses than HVAC, efficiently transmit power from remote sources like offshore wind farms. Converter stations at each end drive HVDC market growth.

By Application:
• Bulk Power Transmission
• Interconnecting Grids
• Infeed Urban Areas
• Others

HVDC Transmission Key Players include:

• ABB
• Siemens
• General Electric
• Hitachi
• Mitsubishi Electric
• Nexans
• NKT A/S
• NR Electric
• C-Epri Electric Power Engineering
• Prysmian Group
• Schneider Electric
• Toshiba
• Epcos
• Aecom
• PSC Group

Key questions answered in the HVDC Transmission Market are:
• What are HVDC Transmission?
• What was the HVDC Transmission Market Size in 2023?
• What is the expected HVDC Transmission Market size by 2030?
• What is the growth rate of the HVDC Transmission Market?
• What are the key benefits of the HVDC Transmission Market?
• What are the new trends in HVDC Transmission?
• Which segment dominated the HVDC Transmission Market growth?
• What is the demand pattern for the HVDC Transmission Market?
• What are the driving, opportunity and restraining factors in the global HVDC Transmission Market?
• Which are the factors expected to drive the HVDC Transmission Market growth?
• Which factors are expected to restrain the HVDC Transmission Market growth?
• Which region held the largest share of the HVDC Transmission Market?
• Who are the key players in the HVDC Transmission Market?

Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis by Component, Transmission Type, Technology, Application and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
 Competitive landscape - Market Leaders, Market Followers, Regional player
 Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is a leading Electronics research firm that has also published the following reports:

HVDC Cables Market- The market size is expected to reach USD 15.37 billion by 2030 at a CAGR of 5.31 percent during the forecast period. government initiatives to increase the transmission project is key drivers in the semiconductor market.

Power Transmission Lines and Towers Market- The market size is expected to reach USD 21883.9 Million by 2030 at a CAGR of 5.7 percent during the forecast period. Increasing energy demand and renewable energy integration to drive the market.

Power Transmission Component Market- The market size is expected to reach USD 137.85 billion by 2029 at a CAGR of 6.8 percent during the forecast period. Growing product demand and rising investments and a favorable political outlook to drive the market.

HVDC Power Supply Market- The market size is expected to reach USD 3667.16 Million by 2029 at a CAGR of 4 percent during the forecast period. With the increase in the number of feed-in nodes, the complexity of electric systems increases as a result of the surge in demand for grid projects.

HVDC Converter Station Market- The market size is expected to reach USD 21.71 billion by 2030 at a CAGR of 8 percent during the forecast period. The market is expected to be driven by ongoing technological developments in the HVDC Converter Station.

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sales@maximizemarketresearch.com
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic Industries, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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