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Global High Voltage Direct Current (HVDC) Transmission System Market Growth 2023-2029

Global High Voltage Direct Current (HVDC) Transmission System Market Growth 2023-2029

Product Code:521897

Published Date: Jan 16,2023

Pages: 93

Region: Global

Category: Energy & Power

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HVDC Transmission System uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current (AC) systems. For long-distance transmission, HVDC systems may be less expensive and suffer lower electrical losses. For underwater power cables, HVDC avoids the heavy currents required to charge and discharge the cable capacitance each cycle. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may still be justified, due to other benefits of direct current links. HVDC allows power transmission between unsynchronized AC transmission systems. Since the power flow through an HVDC link can be controlled independently of the phase angle between source and load, it can stabilize a network against disturbances due to rapid changes in power. HVDC also allows transfer of power between grid systems running at different frequencies, such as 50 Hz and 61 Hz. This improves the stability and economy of each grid, by allowing exchange of power between incompatible networks.

LPI (LP Information)' newest research report, the “High Voltage Direct Current (HVDC) Transmission System Industry Forecast” looks at past sales and reviews total world High Voltage Direct Current (HVDC) Transmission System sales in 2022, providing a comprehensive analysis by region and market sector of projected High Voltage Direct Current (HVDC) Transmission System sales for 2023 through 2029. With High Voltage Direct Current (HVDC) Transmission System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world High Voltage Direct Current (HVDC) Transmission System industry.

This Insight Report provides a comprehensive analysis of the global High Voltage Direct Current (HVDC) Transmission System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on High Voltage Direct Current (HVDC) Transmission System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global High Voltage Direct Current (HVDC) Transmission System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for High Voltage Direct Current (HVDC) Transmission System and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global High Voltage Direct Current (HVDC) Transmission System.

The global High Voltage Direct Current (HVDC) Transmission System market size is projected to grow from US$ 8727 million in 2022 to US$ 11220 million in 2029; it is expected to grow at a CAGR of 11220 from 2023 to 2029.

Global HVDC transmission system key players include ABB, Siemens, XD Group, NR Electric, GE Grid Solution, etc. Global top 5 manufacturers hold a share about 57%. China is the largest market, with a share about 46%, followed by Europe, with a share about 18 percent.

This report presents a comprehensive overview, market shares, and growth opportunities of High Voltage Direct Current (HVDC) Transmission System market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:
Segmentation by type
    LCC
    VSC
    Others

Segmentation by application
    AC and DC harmonic filters
    Converters
    DC lines
    Circuit breakers
    Others

This report also splits the market by region:
    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
    ABB
    Siemens
    Toshiba
    GE
    Prysmian
    Hitachi
    TransGrid
    Abengoa
    ATCO

Key Questions Addressed in this Report
What is the 10-year outlook for the global High Voltage Direct Current (HVDC) Transmission System market?
What factors are driving High Voltage Direct Current (HVDC) Transmission System market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do High Voltage Direct Current (HVDC) Transmission System market opportunities vary by end market size?
How does High Voltage Direct Current (HVDC) Transmission System break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?