Global HVDC Transmission Market is valued approximately at USD 8.77 billion in 2019 and is anticipated to grow with a CAGR of more than 6.90% over the forecast period 2020-2027. High Voltage Direct Current Transmission (HDVC) is essential component to transfer electric power in bulk over long distances. The systems are connected through the power grids in the particular area which helps in eliminating the issues regarding loss of electricity. HDVC is less expensive and is the most efficient solution for transmitting the electrical power generated from solar and wind farms over the long distances. The rapid growth in production of electricity due to rise in its consumption along with growing population is the factor escalating the growth of market over the forecast years. For instance: as per Our world in data, the global generation of renewable energy in 2017 was a 6231.93-terawatt hour and increased to 6673.49-terawatt hour in 2018. Also as per the International Renewable Energy Agency, the global wind energy generated both offshore and onshore in 2016 accounted 954,657Gigawatt hours and which rose to 1,134,492-Gigawatt hour in 2017. Also, the installed capacity of Wind energy in 2018 was 563,820 megawatt and increased to 622,704 megawatts in 2018. In addition, surge in the demand for voltage sourced converter is the factor driving the market growth. However, short circuits in AC power system can result in power faults which hinders the market growth.

The regional analysis of global HVDC Transmission Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of government initiatives regarding usage of HVDC transmission. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid growth in production of energy would create lucrative growth prospects for the HVDC Transmission Market across Asia-Pacific region.

Major market player included in this report are:
ABB group
Siemens AG
General Electric
Hitachi, Ltd.
Mitsubishi Electric Corporation
Nexans S.A.
Prysmian Group
Schneider Electric
Toshiba Corporation
TDK Electronics AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Transmission type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Transmission type:
Submarine HVDC Transmission System
HVDC Overhead Transmission System
HVDC Underground Transmission System

By Component type:
Converter Stations
Transmission Medium (Cables)

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global HVDC Transmission Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors