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According to the latest research, the global HVDC Transmission market size was valued at USD 9083.64 million in 2022 and is expected to expand at a CAGR of 4.73% during the forecast period, reaching USD 11985.37 million by 2028.
HVDC Transmission System uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links.
The increasing demand for cost-effective solutions for long distance power transmission and integration of VSC technology across grids to enable system security are the major factors that drives the HVDC transmission system market.
Market Challenges
HVDC transmission systems require the installation of various components, such as converters, smoothing reactors, and harmonic filters, to reduce or absorb the harmonics that are produced during the transmission process. These components, which are costly, add to the already high cost of installation. High installation cost of HVDC transmission systems is thus estimated to be a prime factor hampering the growth of the market over the forecast period. Moreover, HVDC transmission systems require expensive conversion stations and spare parts for maintenance, which is also expected to challenge the growth of the global HVDC transmission systems market during the forecast period.
Region Overview:
From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.
Company Overview:
The top three companies are ABB, Siemens and Toshiba with the revenue market share of 44.68%, 25.34% and 3.79% in 2018.
ABB is a pioneering technology leader with a comprehensive offering for digital industries. With a history of innovation spanning more than 130 years, ABB is today a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform. ABB's market-leading Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees.
Siemens AG is the world's leading technology company, and has been committed to excellence in engineering, innovation, quality, reliability and international development for 170 years. The company's operations span the globe, with a focus on electrification, automation and digital. As one of the world's largest providers of energy efficient and resource efficient technologies, Siemens is a leader in high efficiency power generation and transmission solutions, infrastructure solutions, industrial automation, drive and software solutions. The company is also a leading provider of imaging diagnostic equipment such as computed tomography and magnetic resonance imaging systems, as well as laboratory diagnostics and clinical IT.
Segmentation Overview:
Among different product types, Low-Power Rating Projects segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Overhead Transmission segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the HVDC Transmission industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of HVDC Transmission. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global HVDC Transmission Market Report Include:
Market Size Estimates: HVDC Transmission market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: HVDC Transmission market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the HVDC Transmission market
Segment Market Analysis: HVDC Transmission market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: HVDC Transmission market situations and prospects in major and top regions and countries
HVDC Transmission Market
HVDC Transmission Industry Chain: HVDC Transmission market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
HVDC Transmission Industry News, Policies by regions
HVDC Transmission Industry Porters Five Forces Analysis
Key players in the global HVDC Transmission market are covered in Chapter 2:
NR Electric
Nexans
Toshiba
ABB
GE Grid Solution
Mitsubishi Electric
Xuji Group
Prysmian Group
TBEA
XD Group
Hitachi
NKT
Siemens
In Chapter 6 and Chapter 9, on the basis of types, the HVDC Transmission market from 2018 to 2028 is primarily split into:
High-Power Rating Projects
Low-Power Rating Projects
In Chapter 7 and Chapter 10, on the basis of applications, the HVDC Transmission market from 2018 to 2028 covers:
Overhead Transmission
Underground Transmission
Subsea Transmission
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global HVDC Transmission market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the HVDC Transmission industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of HVDC Transmission market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the HVDC Transmission industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on HVDC Transmission market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the HVDC Transmission market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed HVDC Transmission market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
HVDC Transmission System uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links.
The increasing demand for cost-effective solutions for long distance power transmission and integration of VSC technology across grids to enable system security are the major factors that drives the HVDC transmission system market.
Market Challenges
HVDC transmission systems require the installation of various components, such as converters, smoothing reactors, and harmonic filters, to reduce or absorb the harmonics that are produced during the transmission process. These components, which are costly, add to the already high cost of installation. High installation cost of HVDC transmission systems is thus estimated to be a prime factor hampering the growth of the market over the forecast period. Moreover, HVDC transmission systems require expensive conversion stations and spare parts for maintenance, which is also expected to challenge the growth of the global HVDC transmission systems market during the forecast period.
Region Overview:
From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.
Company Overview:
The top three companies are ABB, Siemens and Toshiba with the revenue market share of 44.68%, 25.34% and 3.79% in 2018.
ABB is a pioneering technology leader with a comprehensive offering for digital industries. With a history of innovation spanning more than 130 years, ABB is today a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform. ABB's market-leading Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees.
Siemens AG is the world's leading technology company, and has been committed to excellence in engineering, innovation, quality, reliability and international development for 170 years. The company's operations span the globe, with a focus on electrification, automation and digital. As one of the world's largest providers of energy efficient and resource efficient technologies, Siemens is a leader in high efficiency power generation and transmission solutions, infrastructure solutions, industrial automation, drive and software solutions. The company is also a leading provider of imaging diagnostic equipment such as computed tomography and magnetic resonance imaging systems, as well as laboratory diagnostics and clinical IT.
Segmentation Overview:
Among different product types, Low-Power Rating Projects segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Overhead Transmission segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the HVDC Transmission industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of HVDC Transmission. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global HVDC Transmission Market Report Include:
Market Size Estimates: HVDC Transmission market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: HVDC Transmission market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the HVDC Transmission market
Segment Market Analysis: HVDC Transmission market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: HVDC Transmission market situations and prospects in major and top regions and countries
HVDC Transmission Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.HVDC Transmission Industry Chain: HVDC Transmission market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
HVDC Transmission Industry News, Policies by regions
HVDC Transmission Industry Porters Five Forces Analysis
Key players in the global HVDC Transmission market are covered in Chapter 2:
NR Electric
Nexans
Toshiba
ABB
GE Grid Solution
Mitsubishi Electric
Xuji Group
Prysmian Group
TBEA
XD Group
Hitachi
NKT
Siemens
In Chapter 6 and Chapter 9, on the basis of types, the HVDC Transmission market from 2018 to 2028 is primarily split into:
High-Power Rating Projects
Low-Power Rating Projects
In Chapter 7 and Chapter 10, on the basis of applications, the HVDC Transmission market from 2018 to 2028 covers:
Overhead Transmission
Underground Transmission
Subsea Transmission
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global HVDC Transmission market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the HVDC Transmission industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of HVDC Transmission market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the HVDC Transmission industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on HVDC Transmission market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the HVDC Transmission market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed HVDC Transmission market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
