Market Overview:
The global high voltage direct current (HVDC) transmission system market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing demand for electricity and the need for efficient and reliable transmission systems. The HVDC technology offers several advantages over traditional alternating current (AC) systems, such as improved power quality, increased capacity, reduced losses, and enhanced security. Based on type, the market is segmented into line commutated converters (LCC), voltage source converters (VSC), and other types. LCCs are the most commonly used type of HVDC converter due to their simplicity and low cost. However, VSC-based systems are becoming increasingly popular due to their higher efficiency and flexibility in terms of controllability. Based on application, the market is segmented into AC harmonic filters, DC converters/lines/circuit breakers, DC shunt reactors/reactors & capacitors,,and others segments such as insulation monitoring & testing equipment etc. AC harmonic filters are used to reduce harmonics distortion in AC grids caused by HVDC links; while DC converters are used either to convert AC power into DC or vice versa depending on end applications requirements .DC lines form the backbone of an HVDC grid; while circuit breakers provide protection against faults in an HVDC system .
 Transmission System Industry Outlook.svg)
Product Definition:
A high voltage direct current (HVDC) transmission system is a power transmission system that uses high-voltage, direct current electricity to transmit power over long distances. An HVDC transmission system can reduce the amount of electrical losses that occur when transmitting power over long distances.
LCC:
The global LCC, it's usage and growth factor in HVDC Transmission System market size was valued at USD 1.8 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. Increasing demand for clean energy, rising need for efficient power transmission systems across various sectors including industrial, commercial & residential buildings along with transportation & utilities are anticipated to drive industry growth over the next seven years.
VSC:
VSC is short for voltage-controlled switch and it's used in HVDC transmission system to convert the Alternating Current (AC) to Direct Current (DC). In an HVDC system, there are two basic components namely VSCs and transformers. The main function of the transformer is to step up or step down the voltage levels before sending them over cables where they are transformed into high and low voltages respectively.
Application Insights:
The converters segment accounted for the largest revenue share in 2016 and is anticipated to witness significant growth over the forecast period. The growing demand for HVDC converters due to their ability to transform high voltage direct current into low voltage direct current is expected to drive the market growth. Moreover, increasing investments by governments in developing HVDC transmission infrastructure are projected to fuel industry expansion over the coming years.
Asia Pacific has been witnessing tremendous industrial development owing to a rise in demand from countries such as China, India and Japan which has resulted in an increased need for power generation equipment including large-scale generators along with an increase of investment by foreign players especially from South Korea and Taiwan which further drives industry expansion on a positive note.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for high voltage direct current transmission system over the forecast period. The growth of this region can be attributed to increasing investments in HVDC projects by China and India. For instance, in July 2017, China General Nuclear Power Corporation (CGN) and Indian Ministry of New & Renewable Energy (MNRE) signed a contract for 100 MW capacity HVDC link between CGN's Jiangsu nuclear power plant and Tamil Nadu grid.
The Asia Pacific market is anticipated to witness significant growth owing to increasing demand from industries such as oil & gas, petrochemical, wind energy etc., which require clean energy sources with low carbon emission levels.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries is expected to drive the market for HVDC transmission system.
- Rapid development of renewable energy sources such as solar and wind power is also anticipated to fuel the demand for HVDC transmission system over the next few years.
- Growing concerns pertaining to climate change and greenhouse gas emissions are likely to promote the adoption of HVDC technology, thereby propelling market growth.
- Favorable government policies and initiatives towards development of smart grid infrastructure are expected to provide a significant impetus to the market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
High Voltage Direct Current (HVDC) Transmission System Market Research Report
By Type
LCC, VSC, Others
By Application
AC and DC harmonic filters, Converters, DC lines, Circuit breakers, Others
By Companies
ABB, Siemens, Toshiba, GE, Prysmian, Hitachi, TransGrid, Abengoa, ATCO, ABB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global High Voltage Direct Current (HVDC) Transmission System Market Report Segments:
The global High Voltage Direct Current (HVDC) Transmission System market is segmented on the basis of:
Types
LCC, VSC, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
AC and DC harmonic filters, Converters, DC lines, Circuit breakers, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- Toshiba
- GE
- Prysmian
- Hitachi
- TransGrid
- Abengoa
- ATCO
- ABB
 Transmission System Market Overview.svg)
Highlights of The High Voltage Direct Current (HVDC) Transmission System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- LCC
- VSC
- Others
- By Application:
- AC and DC harmonic filters
- Converters
- DC lines
- Circuit breakers
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the High Voltage Direct Current (HVDC) Transmission System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Transmission System Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A high voltage direct current transmission system is a type of electric power transmission system that uses high voltage electricity to move electrical energy over long distances.
Some of the major companies in the high voltage direct current (hvdc) transmission system market are ABB, Siemens, Toshiba, GE, Prysmian, Hitachi, TransGrid, Abengoa, ATCO, ABB.
The high voltage direct current (hvdc) transmission system market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 High Voltage Direct Current (HVDC) Transmission System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 High Voltage Direct Current (HVDC) Transmission System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 High Voltage Direct Current (HVDC) Transmission System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the High Voltage Direct Current (HVDC) Transmission System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global High Voltage Direct Current (HVDC) Transmission System Market Size & Forecast, 2020-2028
4.5.1 High Voltage Direct Current (HVDC) Transmission System Market Size and Y-o-Y Growth
4.5.2 High Voltage Direct Current (HVDC) Transmission System Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 LCC
5.2.2 VSC
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 AC and DC harmonic filters
6.2.2 Converters
6.2.3 DC lines
6.2.4 Circuit breakers
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global High Voltage Direct Current (HVDC) Transmission System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 High Voltage Direct Current (HVDC) Transmission System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 LCC
9.6.2 VSC
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 AC and DC harmonic filters
9.10.2 Converters
9.10.3 DC lines
9.10.4 Circuit breakers
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 LCC
10.6.2 VSC
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 AC and DC harmonic filters
10.10.2 Converters
10.10.3 DC lines
10.10.4 Circuit breakers
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 LCC
11.6.2 VSC
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 AC and DC harmonic filters
11.10.2 Converters
11.10.3 DC lines
11.10.4 Circuit breakers
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 LCC
12.6.2 VSC
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 AC and DC harmonic filters
12.10.2 Converters
12.10.3 DC lines
12.10.4 Circuit breakers
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 LCC
13.6.2 VSC
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 AC and DC harmonic filters
13.10.2 Converters
13.10.3 DC lines
13.10.4 Circuit breakers
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 High Voltage Direct Current (HVDC) Transmission System Market: Competitive Dashboard
14.2 Global High Voltage Direct Current (HVDC) Transmission System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 Toshiba
14.3.4 GE
14.3.5 Prysmian
14.3.6 Hitachi
14.3.7 TransGrid
14.3.8 Abengoa
14.3.9 ATCO
14.3.10 ABB
