Manufacturing & Construction / High Voltage Direct Current (HVDC) System Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: ABB, Siemens, XD, NR Electric, GE Grid Solution, NKT, TBEA, XJ Group Corporation
High Voltage Direct Current (HVDC) System Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: ABB, Siemens, XD, NR Electric, GE Grid Solution, NKT, TBEA, XJ Group Corporation
Over the next five years the High Voltage Direct Current (HVDC) Systemmarket will register an 7.7 % CAGR in terms of revenue, the global market size will reach USD 17.23 billion by 2027.
High Voltage Direct Current (HVDC) System Market Overview
Future power transmission networks can benefit from the burgeoning market trend and technology known as the HVDC system. It is acknowledged that the sole option for moving high power over significant underwater distances is HVDC system. In order to connect nations or islands that are separated by water, HVDC underwater transmission is primarily used. These transmissions assist in tying distant offshore facilities to primary transmission networks.
The market for HVDC system will be driven by trends associated with the expansion of utility-scale renewable energy facilities and the subsequent move away from fossil fuels. The market segment for underwater HVDC systems is most likely to hold the biggest market share. Due to the growing emphasis on international power trade, the market for electricity delivery via undersea transmission is booming. The Middle East and Africa are displaying signals of rising energy consumption, which will stimulate the market for renewable energy. Furthermore, the market for HVDC systems will soon benefit greatly from these geographical trends. The trends and market expansion of other tier-1 players will be dominated by Europe, which is the world's largest continent.
Traditional transmission cables' main flaw was their overhead hanging cables, which were more prone to accidents. HVDC subterranean cables have been able to overcome this, and as a result, power infrastructure manufacturers are interested in them.
Transforming the transmission and distribution infrastructure is one strategy to boost the performance of the electricity sector. This can be accomplished by building an effective transmission system that greatly lowers transmission losses, delivering electricity from renewable sources to places with an energy shortage, and bringing down the price of electricity. Compared to conventional overhead AC lines, HVDC transmission cables increase energy transmission efficiency by 30–40%. Numerous HVDC lines are offered on the market, and well-known companies have a firm grasp of the HVDC system business.
Who are the Major Players in High Voltage Direct Current (HVDC) System Market?
The High Voltage Direct Current (HVDC) System Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market ABB, Siemens, XD, NR Electric, GE Grid Solution, NKT, TBEA, XJ Group Corporation, Hitachi ABB Power Grids, Nexans, Toshiba, Mitsubishi Electric, Abengoa, Prysmian Group, China XD Group and others.
Industry News:
September 21, 2021: Siemens Energy and Sumitomo Electric to supply HVDC technology for power link between Ireland and UK
Siemens Energy, together with its consortium partner Sumitomo Electric, have signed a contract with Greenlink Interconnector Limited. Siemens Energy will deliver the high-voltage direct current (HVDC) converter technology for the 190km electricity interconnector Greenlink. The 500- megawatt HVDC link will connect the power grids of Ireland and UK. As the power can flow in either direction, depending on supply and demand in each country, it allows both countries to benefit from increased grid stability, security of power supply and cost-effective growth and integration of low carbon energy. Work will begin at the start of 2022 following financial close.
High Voltage Direct Current (HVDC) System Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This High Voltage Direct Current (HVDC) System Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.
What are the major Applications, Types and Regions for High Voltage Direct Current (HVDC) System Market?
By Type, it is segmented into
Below 400 kV
Between 400-800 kV
Above 800 kV
By Applications it is segmented into
Overhead Transmission
Underground Transmission
Subsea Transmission
High Voltage Direct Current (HVDC) System Market Regional Analysis
In 2021, the market for HVDC systems was dominated by Asia Pacific. During the predicted time, it is anticipated that the region will be very alluring. Due to significant investment in renewable energy sources, particularly in China, Japan, and India, the trend is expected to continue during the projected period.
During the anticipated period, Europe is anticipated to account for a significant portion of the worldwide HVDC systems market. Due to the surge in government plans to fulfil the 2028 climate and energy framework, the region is investing in renewable energy sources.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The High Voltage Direct Current (HVDC) System Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global High Voltage Direct Current (HVDC) System Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our High Voltage Direct Current (HVDC) System Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 7.7% during the review period (2022 to 2027).
By Type
Below 400 kV
Between 400-800 kV
Above 800 kV
By Application
Overhead Transmission
Underground Transmission
Subsea Transmission
By Companies
ABB, Siemens, XD, NR Electric, GE Grid Solution, NKT, TBEA, XJ Group Corporation, Hitachi ABB Power Grids, Nexans, Toshiba, Mitsubishi Electric, Abengoa, Prysmian Group, China XD Group
Regions Covered
North America
Europe
Asia-Pacific
Rest of the World
Countries Covered
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2022 to 2027
Number of Pages
111
Customization Available
Yes, the report can be customized as per your needs
Key Takeaways from this High Voltage Direct Current (HVDC) System Report
Evaluate High Voltage Direct Current (HVDC) System market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the High Voltage Direct Current (HVDC) System market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The High Voltage Direct Current (HVDC) System Market is studied from 2017 - 2027.
What is the growth rate of High Voltage Direct Current (HVDC) System Market?
The High Voltage Direct Current (HVDC) System Market is growing at a CAGR of 7.7% over the next 5 years.
Who are the key players in High Voltage Direct Current (HVDC) System Market?
ABB, Siemens, XD, NR Electric, GE Grid Solution, NKT, TBEA, XJ Group Corporation, Hitachi ABB Power Grids, Nexans, Toshiba, Mitsubishi Electric, Abengoa, Prysmian Group, China XD Group
What region does this High Voltage Direct Current (HVDC) System Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of High Voltage Direct Current (HVDC) System Market?
Below 400 kV, Between 400-800 kV, Above 800 kV
What are the major end-use applications of High Voltage Direct Current (HVDC) System Market?
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
