The High Voltage Direct Current (HVDC) Transmission System Global Market Report 2023, provides comprehensive information on the high voltage direct current (hvdc) transmission system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The High Voltage Direct Current (HVDC) Transmission System Market’s Growth:
The global high voltage direct current (HVDC) transmission system market size is expected to grow from $9.50 billion in 2022 to $10.64 billion in 2023 at a compound annual growth rate (CAGR) of 12%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global high voltage direct current (HVDC) transmission system market size is expected to reach $15.99 billion in 2027 at a CAGR of 10.7%.
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Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the high-voltage direct current (HVDC) transmission system market. Key players operating in the HVDC transmission system market are focused on partnerships and collaborations to reinforce their position in the market. For instance, in November 2022, Hitachi Energy Ltd., a Switzerland-based manufacturer and developer of power transformers and substations, entered into a strategic collaboration with Equinor ASA. Through this collaboration, Hitachi aims to develop standardized base designs that will be applied to high-voltage direct current (DC) and alternating current (AC) transmission systems to connect offshore wind farms. Equinor ASA is a Norway-based company focusing on offshore operations and developing gas, wind, oil, and solar energy projects. Furthermore, in May 2023, Pattern Energy Group LP, a US-based developer, and operator of utility-scale wind and solar power facilities, entered into a partnership with Hitachi Energy Ltd. Through this partnership, Pattern Energy aims to harness and carry the SunZia Transmission Project’s energy potential to areas with a high demand for renewable energy, and using Hitachi’s HVDC technology will provide the power grids with more reliability and resilience. Hitachi Energy Ltd. is a Switzerland-based manufacturer and developer of power transformers and substations.
The high voltage direct current (hvdc) transmission system market is segmented:
1) By Type: Monopolar, Bipolar, Homopolar, Back To Back, Multi-Terminal
2) By Technology: Line-Commutated Converters (LCC), Voltage-Source Converters (VSC), Capacitor Commutated Converters (CCC)
3) By Capacity: Upto 400 kV, 401-800 kV, 800 kV Above
4) By Deployment: Overhead, Underground, Subsea, Combination
5) By Application: Interconnecting Grids, Infeed Urban Areas, Connecting Offshore Wind, Other Applications
Europe was the largest region in the high voltage direct current (hvdc) transmission system market in 2022.
The table of contents in TBRC’s high voltage direct current (hvdc) transmission system market report includes:
- Executive Summary
- High Voltage Direct Current (HVDC) Transmission System Market Characteristics
- High Voltage Direct Current (HVDC) Transmission System Market Trends And Strategies
- High Voltage Direct Current (HVDC) Transmission System Market – Macro Economic Scenario
- High Voltage Direct Current (HVDC) Transmission System Market Size And Growth
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- Middle East High Voltage Direct Current (HVDC) Transmission System Market
- Africa High Voltage Direct Current (HVDC) Transmission System Market
- High Voltage Direct Current (HVDC) Transmission System Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The High Voltage Direct Current (HVDC) Transmission System Market
- High Voltage Direct Current (HVDC) Transmission System Market Future Outlook and Potential Analysis
Top Major Players
- ATCO Ltd.
- General Electric Company
- Hitachi Energy
- LS Electric Co. Ltd.
- Mitsubishi Electric Corporation
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