HVDC Transmission Market Expected Growth will 17.4 Billion USD, with a 8.6% CAGR by Rising Size, Demands and Global Trends to 2030

HVDC Transmission Market Analysis 

HVDC Transmission Market share is expected to surpass USD 17,448,0 million by 2030, with a 8.6% CAGR during the forecast period, 2022-2030.

COVID-19 Analysis

Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the HVDC transmission market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.

Drivers

• New product launches and R&D Amongst major key Players
• Increase in the installation of HVDC transmission systems

Opportunities 

Strict Government Regulations to offer Robust Opportunities 

The stringent government regulations about electricity transmission will offer robust opportunities for the market over the forecast period. 

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Restraints 

Short Circuits to act as Market Restraint 

Short circuits in AC power system will act as market restraint over the forecast period. Besides, the complexity related to multi-terminal systems may also impede market growth. 

Challenges 

High Installation and Implementation Costs to act as Market Challenge 

The high installation and implementation costs, standardization of HVDC systems, and low rate of adoption of HVDC technology may act as market challenge over the forecast period. 

HVDC Transmission System Market Segmentation Overview:

By technology type:

• LCC
• VSC

By application type:

• Underground
• Asynchronous
• Offshore

By configuration type:

• Monopolar
• Bipolar
• Multi Terminal
• Back-To-Back

By voltage rating type:

• 640 kV
• 500 kV
• 200 kV

By Regions:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Regional Analysis 

APAC to Dominate HVDC Transmission Market 

The APAC region will domineer the HVDC transmission market over the forecast period. The development of power infrastructure, China making huge investments in renewable energy, implementation of latest UHVDC technology for power transmission, growing population, increasing power consumption, aging infrastructure, increased urbanization, construction of smart cities in emerging economies, growing industrialization, and increasing establishment of power plants are fuelling the global HVDC transmission market growth in this region. 

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Key Players:

• Seimens AG (Germany)
• Hitachi (Japan)
• ABB (Switzerland)
• Schneider Electric (France)
• Toshiba (Japan)
• Alstom (France)
• General Electric (U.S.)
• DATC (U.S)
• Mitsubishi (Japan)
• NKT Holdings (Denmark)
• Adani (India)
• Nexans (France)
• Prysmian Group (Italy)
• C-EPRI Electric Power Engineering Co. Ltd (China)

FAQ’s:

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