Market Overview:
The global high voltage direct current (HVDC) system market is expected to grow from USD 9.5 billion in 2018 to USD 17.8 billion by 2030, at a CAGR of 7.0% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for electricity and rising concerns about greenhouse gas emissions. Based on type, the HVDC system market is segmented into below 500 MW, 501-1000 MW, 1001-1500 MW, 1501-2000 MW, and above 2000 MW segments.
Product Definition:
A high voltage direct current (HVDC) system is a power transmission system that uses high-voltage, direct current to transfer electricity over long distances. The advantage of an HVDC system is that it can transmit large amounts of power with less loss than an alternating current (AC) system.
Below 500 MW:
Below 500 MW sector is expected to grow at a CAGR of XX% from 2018 to 2025. The growth factor can be attributed to the upsurge in demand for power across the globe coupled with supportive government policies. The usage of HVDC systems results in reduced transmission losses, thus resulting in increased efficiency and economy.
HVDC systems are capable of operating at extremely high frequencies (100-200 kHz).
501-1000 MW:
The global high voltage direct current (HVDC) system market size was valued at USD 2.5 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period owing to its increasing demand across various industries including oil & gas, power generation, and manufacturing.
Application Insights:
High-voltage direct current systems are used for underground power transmission, grid interconnection, offshore power transmission and other applications. The underground power transmission segment accounted for the largest market share in 2017 owing to its ability to supply high quality of service at low cost over long distances. HVDC system is ideal for long-distance transmissions as it provides higher voltage and reduces the losses caused due to resistance in the medium.
The grid interconnection application segment is expected witness significant growth over the forecast period owing to its ability to provide stable & clean electricity at a lower cost than conventional methods of energy production such as coal or gas plants. It also helps reduce greenhouse gases by emitting zero carbon dioxide during generation process when compared with other sources of energy such as nuclear or fossil fuel plants.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing electricity demand and supportive government initiatives for the development of renewable energy sources in the region. Increasing investments in HVDC systems are also driving growth due to their ability to transport large amounts of power over long distances, which is attracting major players operating in this space towards Asia Pacific region.
The North America market was valued at USD X million in 2017 and is projected to witness significant growth during the forecast period on account of rising demand for clean energy generation solutions across U.S., Canada, and Mexico countries along with growing need for reliable power supply system across all these regions coupled with increasing offshore wind farms construction projects along U.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Government initiatives for renewable energy sources
- Development of smart grids and microgrids
- Technological advancements in HVDC systems
- Reduction in the cost of HVDC systems
Scope Of The Report
Report Attributes
Report Details
Report Title
High Voltage Direct Current System Market Research Report
By Type
Below 500 MW, 501-1000 MW, 1001-1500 MW, 1501-2000 MW, Above 2000 MW
By Application
Underground Power Transmission, Grid Interconnection, Offshore Power Transmission, Other
By Companies
ABB (Switzerland), Siemens (Germany), General Electric (US), Toshiba (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), Hitachi (Japan), Sumitomo Electric (Japan), Schneider Electric (France), ABB (Switzerland), Prysmian Group (Italy), American Superconductor (US), LS Industrial (Korea), C-EPRI Electric Power Engineering (China)
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
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global High Voltage Direct Current System Market Report Segments:
The global High Voltage Direct Current System market is segmented on the basis of:
Types
Below 500 MW, 501-1000 MW, 1001-1500 MW, 1501-2000 MW, Above 2000 MW
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
Underground Power Transmission, Grid Interconnection, Offshore Power Transmission, Other
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 (Switzerland)
- Siemens (Germany)
- General Electric (US)
- Toshiba (Japan)
- Mitsubishi Electric (Japan)
- Nexans (France)
- NKT A/S (Denmark)
- Hitachi (Japan)
- Sumitomo Electric (Japan)
- Schneider Electric (France)
- ABB (Switzerland)
- Prysmian Group (Italy)
- American Superconductor (US)
- LS Industrial (Korea)
- C-EPRI Electric Power Engineering (China)
Highlights of The High Voltage Direct Current 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:
- Below 500 MW
- 501-1000 MW
- 1001-1500 MW
- 1501-2000 MW
- Above 2000 MW
- By Application:
- Underground Power Transmission
- Grid Interconnection
- Offshore Power Transmission
- Other
- 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 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.
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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?
High voltage direct current system is a type of electrical power distribution system that uses high voltages to transmit electricity over long distances.
Some of the key players operating in the high voltage direct current system market are ABB (Switzerland), Siemens (Germany), General Electric (US), Toshiba (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), Hitachi (Japan), Sumitomo Electric (Japan), Schneider Electric (France), ABB (Switzerland), Prysmian Group (Italy), American Superconductor (US), LS Industrial (Korea), C-EPRI Electric Power Engineering (China).
The high voltage direct current system market is expected to register a CAGR of 7%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 High Voltage Direct Current 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 System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 High Voltage Direct Current 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 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 System Market Size & Forecast, 2018-2028
4.5.1 High Voltage Direct Current System Market Size and Y-o-Y Growth
4.5.2 High Voltage Direct Current System Market Absolute $ Opportunity
Chapter 5 Global High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Type
5.2.1 Below 500 MW
5.2.2 501-1000 MW
5.2.3 1001-1500 MW
5.2.4 1501-2000 MW
5.2.5 Above 2000 MW
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Applications
6.2.1 Underground Power Transmission
6.2.2 Grid Interconnection
6.2.3 Offshore Power Transmission
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global High Voltage Direct Current 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 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 High Voltage Direct Current System Analysis and Forecast
9.1 Introduction
9.2 North America High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Type
9.6.1 Below 500 MW
9.6.2 501-1000 MW
9.6.3 1001-1500 MW
9.6.4 1501-2000 MW
9.6.5 Above 2000 MW
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 High Voltage Direct Current System Market Size Forecast by Applications
9.10.1 Underground Power Transmission
9.10.2 Grid Interconnection
9.10.3 Offshore Power Transmission
9.10.4 Other
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 High Voltage Direct Current System Analysis and Forecast
10.1 Introduction
10.2 Europe High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Type
10.6.1 Below 500 MW
10.6.2 501-1000 MW
10.6.3 1001-1500 MW
10.6.4 1501-2000 MW
10.6.5 Above 2000 MW
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 High Voltage Direct Current System Market Size Forecast by Applications
10.10.1 Underground Power Transmission
10.10.2 Grid Interconnection
10.10.3 Offshore Power Transmission
10.10.4 Other
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 High Voltage Direct Current System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Type
11.6.1 Below 500 MW
11.6.2 501-1000 MW
11.6.3 1001-1500 MW
11.6.4 1501-2000 MW
11.6.5 Above 2000 MW
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 High Voltage Direct Current System Market Size Forecast by Applications
11.10.1 Underground Power Transmission
11.10.2 Grid Interconnection
11.10.3 Offshore Power Transmission
11.10.4 Other
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 High Voltage Direct Current System Analysis and Forecast
12.1 Introduction
12.2 Latin America High Voltage Direct Current System 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 High Voltage Direct Current System Market Size Forecast by Type
12.6.1 Below 500 MW
12.6.2 501-1000 MW
12.6.3 1001-1500 MW
12.6.4 1501-2000 MW
12.6.5 Above 2000 MW
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 High Voltage Direct Current System Market Size Forecast by Applications
12.10.1 Underground Power Transmission
12.10.2 Grid Interconnection
12.10.3 Offshore Power Transmission
12.10.4 Other
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) High Voltage Direct Current System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) High Voltage Direct Current System 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) High Voltage Direct Current System Market Size Forecast by Type
13.6.1 Below 500 MW
13.6.2 501-1000 MW
13.6.3 1001-1500 MW
13.6.4 1501-2000 MW
13.6.5 Above 2000 MW
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) High Voltage Direct Current System Market Size Forecast by Applications
13.10.1 Underground Power Transmission
13.10.2 Grid Interconnection
13.10.3 Offshore Power Transmission
13.10.4 Other
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 System Market: Competitive Dashboard
14.2 Global High Voltage Direct Current System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB (Switzerland)
14.3.2 Siemens (Germany)
14.3.3 General Electric (US)
14.3.4 Toshiba (Japan)
14.3.5 Mitsubishi Electric (Japan)
14.3.6 Nexans (France)
14.3.7 NKT A/S (Denmark)
14.3.8 Hitachi (Japan)
14.3.9 Sumitomo Electric (Japan)
14.3.10 Schneider Electric (France)
14.3.11 ABB (Switzerland)
14.3.12 Prysmian Group (Italy)
14.3.13 American Superconductor (US)
14.3.14 LS Industrial (Korea)
14.3.15 C-EPRI Electric Power Engineering (China)
