HVDC Transmission Market
- December, 2023
- Semiconductor & Electronics
HVDC Transmission Market By Component (Converter Stations, Transmission Cables), By Technology (CCC, VSC, LCC, HVDC, UHVDC), By Project Type (point-to-point, back-to-back, multi-terminal), By Application (Underground, Offshore), and by Region; Growth Trends & Forecasts (2024 - 2030)
As per Intent Market Research, the HVDC transmission market is projected to grow from USD 10.9 billion in 2023-e to USD 15.2 billion by 2030, registering a CAGR of 4.9% during the forecast period (2024-2030).
The report focuses on estimating the current market potential in terms of the total addressable market for all the segments, sub-segments, and regions. In the process, all the high-growth and upcoming technologies were identified and analysed to measure their impact on the current and future market. The report also identifies the key stakeholders, their business gaps, and their purchasing behaviour. This information is essential for developing effective marketing strategies and creating products or services that meet the needs of the target market. The report also covers a detailed analysis of the competitive landscape which includes major players, their recent developments, growth strategies, product benchmarking, and manufacturing operations among others. Also, brief insights on start-up ecosystem and emerging companies is also included as part of this report.
Report Objectives
The report will help you answer some of the most critical questions in the HVDC transmission market. A few of them are as follows:
- What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
- What are the prevailing technology trends in the HVDC transmission market?
- What is the size of the HVDC transmission market based on segments, sub-segments, and regions?
- What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Middle East, and Rest of the World?
- What are the market opportunities for stakeholders after analysing key market trends?
- Who are the leading market players and what are their market share and core competencies?
- What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
- What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?
Report Scope:
Report Features | Description |
Market Size (2023-e) | USD 10.9 billion |
Forecasted Value (2030) | USD 15.2 billion |
CAGR (2024-2030) | 4.9% |
Base Year for Estimation | 2023-e |
Historic Year | 2022 |
Forecast Period | 2024-2030 |
Report Coverage | Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
Segments Covered | HVDC Transmission Market By Component (Converter Stations, Transmission Cables), By Technology (CCC, VSC, LCC, HVDC, UHVDC), By Project Type (point-to-point, back-to-back, multi-terminal), By Application (Underground, Offshore) |
Regional Analysis | North America (US, Canada), Europe (Germany, France, UK, Spain, Italy & Rest of Europe), Asia Pacific (China, Japan, South Korea, India, and rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, & Rest of Latin America), Middle East & Africa (Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA) |
Customization Scope | Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
- Introduction
- Market Definition
- Scope of the Study
- Research Assumptions
- Study Limitations
- Research Methodology
- Research Approach
- Top-Down Method
- Bottom-Up Method
- Factor Impact Analysis
- Insights & Data Collection Process
- Secondary Research
- Primary Research
- Data Mining Process
- Data Analysis
- Data Validation and Revalidation
- Data Triangulation
- Research Approach
- Executive Summary
- Major Markets & Segments
- Highest Growing Regions and Respective Countries
- Impact of Growth Drivers & Inhibitors
- Regulatory Overview by Country
- HVDC Transmission Market, by Component (Market Size in USD Million)
- Converter Stations
- Transmission Cables
- Others
- HVDC Transmission Market, by Project Type (Market Size in USD Million)
- Point-to-point
- Back-to-back
- Multi-terminal
- HVDC Transmission Market, by Technology (Market Size in USD Million)
- Capacitor Commutated Converter (CCC)
- Voltage Source Converter (VSC)
- Line Commutated Converter (LCC)
- HVDC Transmission Market, by Application (Market Size in USD Million)
- Bulk Power Transmission
- Interconnecting Grids
- Infeed Urban Areas
- Regional Analysis
- Regional Overview
- North America
- Regional Trends & Growth Drivers
- Integration of VSC Technology into HVDC Systems
- Rapid Transition Toward Renewable Energy
- Rapid Technological Advancements & Increased Investments
- Barriers & Challenges
- Requirement for High Initial Capital Investment
- Availability of Substitute Technologies such as Distributed and Off-grid Power Generation Systems
- Interoperability Issues Due to Lack of Standardization
- Opportunities
- Growing Demand for Integrated Networks Across Long Distances
- Electrification of Transportation Sector
- Factor Impact Analysis
- Technology Trends
- Existing & Future Technologies Disrupting the Market
- Use Case Analysis
- Company Innovations
- Pricing Analysis
- Regulatory Landscape
- North America HVDC Transmission Market, by Component (Market Size in USD Million)
- North America HVDC Transmission Market, by Project Type (Market Size in USD Million)
- North America HVDC Transmission Market, by Technology (Market Size in USD Million)
- North America HVDC Transmission Market, by Application (Market Size in USD Million)
- Regional Trends & Growth Drivers
*Similar segmentation will be provided at each regional level
- By Country
- US
- US HVDC Transmission Market, by Component (Market Size in USD Million)
- US HVDC Transmission Market, by Project Type (Market Size in USD Million)
- US HVDC Transmission Market, by Technology (Market Size in USD Million)
- US HVDC Transmission Market, by Application (Market Size in USD Million)
- Canada
- US
*Similar segmentation will be provided at each regional and country level
- Europe
- APAC
- Middle East
- Latin America
- Africa
- Competitive Landscape
- Overview of the Key Players
- Competitive Ecosystem
- Platform Manufacturers
- Subsystem Manufacturers
- Service Providers
- Software Providers
- Company Share Analysis
- Company Benchmarking Matrix
- Strategic Overview
- Product Innovations
- Start-up Ecosystem
- Strategic Competitive Insights/Customer Imperatives
- ESG Matrix/ Sustainability Matrix
- Manufacturing Network
- Locations
- Supply Chain and Logistics
- Product Flexibility/Customization
- Digital Transformation and Connectivity
- Environmental and Regulatory Compliance
- Technology Readiness Level Matrix
- Technology Maturity Curve
- Buying Criteria
- Company Profiles
- Hitachi
- Company Overview
- Company Financials
- Product/Service Portfolio
- Recent Developments
- IMR Analysis
- Hitachi
*Similar information will be provided for other companies
- General Electric
- Siemens Energy
- Prysmian Group
- Mitsubishi Corporation
- Appendix
Intent Market Research employs a rigorous methodology to minimize residual errors by carefully defining the scope, validating findings through primary research, and consistently updating our in-house database. This dynamic approach allows us to capture ongoing market fluctuations and adapt to evolving market uncertainties.
The research factors used in our methodology vary depending on the specific market being analysed. To begin with, we incorporate both demand and supply side information into our model to identify and address market gaps. Additionally, we also employ approaches such as Macro-indicator Analysis, Factor Analysis, Value Chain-Based Sizing, and forecasting to further increase the accuracy of the numbers and validate the findings.
- Secondary Research Approach: During the initial phase of the research process, we acquire and accumulate extensive data continuously. This data is carefully filtered and validated through a variety of secondary sources.
- Primary Research Approach: Following the consolidation of data gathered through secondary research, we initiate a validation process to verify all the market numbers, assumptions, and findings by engaging with the subject matter experts.
Data Collection, Analysis and Interpretation:
Research Methodology
Our market research methodology utilizes both top-down and bottom-up approaches to segment and estimate quantitative aspects of the market. We also employ multi-perspective analysis, examining the market from distinct viewpoints.
