HVDC Transmission System Market - Forecast to 2032

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HVDC Transmission System Market Analysis and Forecast to 2032: By Component (Solutions, Services), Deployment (Overhead, Underground, Others), and Region

Published Date : February, 2023 Report Code : GIS23687 Number of Pages: 159

Industry : Energy & Natural Resources Publication Status : Published

A high-voltage direct current (HVDC) transmission system is used to transmit electrical energy between two points using direct current, in contrast to the more common alternating current (AC) systems. HVDC allows power to be transmitted over long distances with minimal loss; however, it is also more expensive than AC transmission.

HVDC systems are used in a variety of applications, including interconnecting alternating current (AC) power grids, connecting offshore wind farms to the mainland grid, and providing power to remote locations.

Key Trends

The key trends in HVDC Transmission System technology are:

1. Increased use of voltage source converters (VSC): The trend is towards increased use of VSC-based HVDC transmission systems, as they offer many advantages over traditional line-commutated converters (LCC).

2. Increased use of underground and submarine cables: The use of underground and submarine cables for HVDC transmission is increasing, due to the many advantages they offer over overhead lines.

3. Increased use of high-voltage direct current (HVDC) in renewable energy integration: The use of HVDC transmission is growing in the renewable energy sector.

Key Drivers

There are many key drivers of the HVDC Transmission System market. Some of the key drivers are:

1. The increasing demand for electricity: With the increasing population and economic growth, the demand for electricity is also increasing. This is one of the key drivers of the HVDC Transmission System market.

2. The increasing need for energy efficiency: With the increasing awareness about the need for energy efficiency, the demand for HVDC Transmission Systems is also increasing.

Restraints & Challenges

The key restraints and challenges in the HVDC Transmission System market are its high initial investment cost and the need for a dedicated HVDC grid.

Despite the falling cost of HVDC technology, its adoption has been hindered by the need for a dedicated HVDC grid. HVDC grids are expensive to build and maintain, and they are not compatible with existing AC grids.

In addition to the high cost of HVDC technology, another challenge facing the adoption of HVDC Transmission System is the need for a dedicated HVDC grid.

Market Segments

The HVDC transmission system market is segmented by component, deployment, and region. By component, the market is classified into solutions, and services. Based on deployment, it is bifurcated into overhead, underground, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

Key Players

The global HVDC transmission system market includes players such as ABB Ltd., Siemens AG, Toshiba Corporation, General Electric Co., Prysmian SpA, Hitachi Ltd., TransGrid Solutions Inc., Abengoa S.A., Atco Electric Ltd, NKT A/S, and others.

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Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. HVDC Transmission System Market Outlook
3.1. HVDC Transmission System Market Segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Global HVDC Transmission System Market

Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Global HVDC Transmission System Market
4.3. Economic Impact Analysis

Chapter 5. HVDC Transmission System Market by Deployment
5.1. Market Overview
5.2. Overhead
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Underground
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Others
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 6. HVDC Transmission System Market by Component
6.1. Market Overview
6.2. Solutions
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Services
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 7. HVDC Transmission System Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.2.3. North America HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.2.4. North America HVDC Transmission System Market Size and Forecast by Country, 2021-2031, ($Million)
7.2.5. The U.S.
7.2.5.1. The U.S. HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.2.5.2. The U.S. HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.2.6. Canada
7.2.6.1. Canada HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.2.6.2. Canada HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.2.7. Mexico
7.2.7.1. Mexico HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.2.7.2. Mexico HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)

7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.3. Europe HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.4. Europe HVDC Transmission System Market Size and Forecast by Country, 2021-2031, ($Million)
7.3.5. Germany
7.3.5.1. Germany HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.5.2. Germany HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.6. France
7.3.6.1. France HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.6.2. France HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.7. U.K.
7.3.7.1. U.K. HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.7.2. U.K. HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.8. Spain
7.3.8.1. Spain HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.8.2. Spain HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.9. Italy
7.3.9.1. Italy HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.9.2. Italy HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.3.10. Rest of Europe
7.3.10.1. Rest of Europe HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.3.10.2. Rest of Europe HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)

7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific HVDC Transmission System Market Size and Forecast by Country, 2021-2031, ($Million)
7.4.3. Asia-Pacific HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.4. Asia-Pacific HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.4.5. China
7.4.5.1. China HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.5.2. China HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.4.6. India
7.4.6.1. India HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.6.2. India HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.4.7. Japan
7.4.7.1. Japan HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.7.2. Japan HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.4.8. South Korea
7.4.8.1. South Korea HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.8.2. South Korea HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.4.9.2. Rest of APAC HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)

7.5. Rest of the World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of the World HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.5.3. Rest of the World HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.5.4. Rest of the World HVDC Transmission System Market Size and Forecast by Country, 2021-2031, ($Million)
7.5.5. Latin America
7.5.5.1. Latin America HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.5.5.2. Latin America HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.5.6. Middle East
7.5.6.1. Middle East HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.5.6.2. Middle East HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)
7.5.7. Africa
7.5.7.1. Africa HVDC Transmission System Market Size and Forecast by Deployment, 2021-2031, ($Million)
7.5.7.2. Africa HVDC Transmission System Market Size and Forecast by Component, 2021-2031, ($Million)

Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Developmental Strategy Benchmarking
8.3.1. New Product Development
8.3.2. Product Launches
8.3.3. Business Expansions
8.3.4. Partnerships, Joint Ventures, and Collaborations
8.3.5. Mergers and Acquisitions

Chapter 9. Company Profiles
9.1. ABB Ltd.
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. Siemens AG
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product Offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Toshiba Corporation
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product Offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. General Electric Co.
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product Offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. Prysmian SpA
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product Offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. Hitachi Ltd.
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product Offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. TransGrid Solutions Inc.
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product Offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. Abengoa S.A.
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product Offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. Atco Electric Ltd
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product Offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. NKT A/S
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product Offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis