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The global HVDC transmission systems market size reached US$ 9.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.21 Billion by 2027, exhibiting a growth rate (CAGR) of 9.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
The high voltage direct current (HVDC) transmission system relies on direct current (DC) to transmit power in long distances. It comprises a converter, rectifier, inverter, electrodes, smoothing reactors, direct current (DC) lines, harmonic filters, reactive power supplies, and alternate current (AC) circuit breakers. It is widely used in modern power transmission due to its simple constructional feature and less complexity. It provides efficient and economical transmission of power while meeting the requirements of growing load demands. In addition, it assists in transmitting bulk power while reducing power losses. Apart from this, it helps transfer power through submarine cables without voltage fluctuations.
The growing utilization of HVDC transmission systems for bulk power transmission, interconnecting grids, and in-feed urban areas represents one of the key factors driving the market. Besides this, there is a rise in the demand for cable-based transmission compared to overhead transmission lines across the globe. This, along with the burgeoning electrical industry, is contributing to the growth of the market. Moreover, the increasing development of smart cities to use smart technologies for managing assets and resources is offering lucrative growth opportunities to industry investors. In addition, the growing demand for cost-effective solutions for long-distance power transmission is positively influencing the market. Apart from this, there is an increase in the demand for valves and circuit breakers to break the circuit and stop the current flow when the current exceeds a predetermined value without causing damage to the circuit. This, coupled with the expansion of submarine power transmission systems, is catalyzing the demand for HVDC transmission systems. Additionally, the escalating demand for renewable sources of energy to reduce greenhouse gas emissions and air pollution is bolstering the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global HVDC transmission systems market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, transmission type, technology, project type and application.
Breakup by Component:
Breakup by Transmission Type:
Breakup by Technology:
Breakup by Project Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., General Electric Company, Hitachi Ltd., LS ELECTRIC Co. Ltd., Mitsubishi Electric Corporation, Nexans S.A., NKT A/S, NR Electric Co. Ltd., Prysmian Group, Siemens AG and Toshiba Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Transmission Type, Technology, Project Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., General Electric Company, Hitachi Ltd., LS ELECTRIC Co. Ltd., Mitsubishi Electric Corporation, Nexans S.A., NKT A/S, NR Electric Co. Ltd., Prysmian Group, Siemens AG and Toshiba Corporation.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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