Latest Research on Technology in the HVDC Transmission Market by MarketsandMarkets Trademark

The global HVDC Transmission Market Size was estimated at USD 14.01 billion in 2024 and is predicted to increase from USD 15.62 billion in 2025 to approximately USD 22.07 billion in 2030, expanding at a CAGR of 7.2% from 2025 to 2030.
The report "HVDC Transmission Market [https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=HVDCtransmissionmarket] by LCC, VSC, CCC, Converter Stations, Transmission Cables, Point-to-Point Transmission, Back-to-Back Stations, Multi Terminal Systems, Bulk Power Transmission and Interconnecting Grids - Global Forecast to 2030" The HVDC transmission market is expected to reach USD 22.07 billion by 2030 from USD 15.62 billion in 2025 at a CAGR of 7.2% during the forecast period. Key drivers fueling the growth of the HVDC transmission market are the integration of VSC technology into HVDC systems, rapid transition toward renewable energy, and strong focus of governments and utilities on grid modernization to improve power reliability. These factors are collectively accelerating HVDC adoption across new projects and cross-border interconnections. Additionally, constant advances in power electronics, adoption of digital and automation technologies, electrification of the transportation sector, and growing demand for integrated networks across long distances provide opportunities to the players in the HVDC transmission market. These opportunities are expected to encourage innovation and strategic investments by key industry stakeholders.

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Browse 233 market data Tables and 63 Figures spread through 264 Pages and in-depth TOC on "HVDC Transmission Market"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html [https://www.marketsandmarkets.com/Market-Reports/hvdc-grid-market-1225.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=HVDCtransmissionmarket]

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The converter station segment is expected to register the fastest growth in the component segment during the forecast period.

During the forecast period, converter stations are expected to register the fastest growth in the HVDC transmission components market. This growth is primarily driven by increasing investments in large-scale renewable energy integration projects and cross-border electricity transmission. Converter stations are crucial in converting AC to DC and vice versa, enabling long-distance power transfer with minimal losses. The widespread adoption of Voltage Source Converters (VSC) over Line Commutated Converters (LCC) due to their compact size, modularity, and ability to integrate renewable energy sources such as offshore wind further propels demand. Countries with aging grid infrastructure are also investing in modern HVDC converter stations to support grid reliability and efficiency. Moreover, advancements in converter technologies, including advanced power semiconductors and digital monitoring systems, enhance operational efficiency and reduce costs. Asia Pacific and Europe are leading in the deployment of new converter stations, backed by national electrification plans and energy transition strategies. Additionally, increased interconnection of national grids and demand for point-to-point and multi-terminal HVDC projects are expected to boost converter station deployment globally. As utilities aim to reduce carbon emissions and improve grid resilience, the demand for highly efficient converter stations will continue to grow rapidly over the forecast period.

The bulk power transmission segment is projected to account for the largest share of the application segment during the forecast period.

Bulk power transmission is projected to dominate the application segment of the HVDC Transmission Industry [https://www.marketsandmarkets.com/PressReleases/hvdc-grid.asp?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=HVDCtransmissionmarket] throughout the forecast period. The ability of HVDC systems to efficiently transmit large volumes of electricity over long distances with minimal losses makes them ideal for bulk power transfer. This capability is significant for transporting electricity from remote renewable energy sources, such as offshore wind farms and large solar parks, to high-demand urban and industrial centers. As energy demands grow in both developing and developed economies, utilities are increasingly investing in HVDC infrastructure to stabilize their grids and ensure reliable energy delivery across regions. Furthermore, HVDC is essential in connecting asynchronous grids, enabling energy exchange across borders and enhancing regional power security. The China-Pakistan Economic Corridor, India's Green Energy Corridors, and European interconnectors are strong examples of large-scale HVDC deployments for bulk power transmission. The cost advantages of fewer conductors, reduced transmission corridors, and lower operational losses also favor HVDC over traditional AC systems for high-capacity applications. As governments push for carbon-neutral power infrastructure and utilities expand long-haul transmission lines to integrate renewables, bulk power transmission will continue to represent the primary use case for HVDC systems worldwide.

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By region, Europe is anticipated to hold the second-largest market share during the forecast period.

Europe is anticipated to hold the second-largest share in the global HVDC transmission components market during the forecast period, driven by its strong focus on renewable energy adoption, cross-border grid integration, and energy sector decarbonization. The region has witnessed significant deployment of HVDC systems for offshore wind power integration, especially in countries like Germany, the UK, and the Netherlands. The European Union's Green Deal and Fit-for-55 initiatives are also encouraging large-scale investment in sustainable energy infrastructure, including HVDC interconnections. Europe's early adoption of voltage source converter (VSC) technology and its strong emphasis on digital and flexible grid infrastructure are further accelerating component demand, especially converter stations and cables. Additionally, the need to strengthen interconnections between Nordic, Central, and Southern European grids is fueling new projects that require advanced HVDC components. While Asia Pacific continues to dominate in absolute market size, Europe remains highly attractive due to its technological leadership, mature regulatory framework, and active participation in climate goals. Strong support from the European Commission, along with partnerships among transmission system operators (TSOs), is expected to keep Europe at the forefront of HVDC innovations. These trends will cement the region's position as the second-largest contributor to HVDC component revenues.

Key Players Operating in the HVDC Transmission Companies [https://www.marketsandmarkets.com/ResearchInsight/hvdc-grid-market.asp?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=HVDCtransmissionmarket] include Hitachi, Ltd. (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), GE Vernova (US), Prysmian Group (Italy), TOSHIBA CORPORATION (Japan), NKT A/S (Denmark), Nexans (France), LS ELECTRIC Co., Ltd. (South Korea), and NR Electric Co., Ltd. (China). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments.

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