HVDC Transmission System Market Size, Share & COVID-19 Impact Analysis, By Type (High-power Rating Projects and Low-power Rating Projects), By Technology (Line Commutated Converter (LCC) and Voltage Source Converters (VSC)), By Application (Subsea, Underground, Overhead, and Mixed), and Regional
The HVDC Transmission System Market Insights of 2023 is an extensive and comprehensive report that provides a complete analysis of the market's size, shares, revenues, various segments, drivers, trends, growth, and development. The report also highlights the limiting factors and regional industrial presence that may affect the market's growth trends beyond the forecast period of 2030.
The global HVDC transmission system market size was valued at USD 9.68 billion in 2022. The market is projected to grow from USD 10.27 billion in 2023 to USD 18.05 billion by 2030, exhibiting a CAGR of 8.4% during the forecast period.
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Top Key Vendors:
Hitachi Energy Ltd. (Switzerland)
Toshiba Energy Systems Solutions Corporation (Japan)
CHINA XD GROUP (China)
Mitsubishi Electric Corporation (Japan)
General Electric (U.S.)
Xu Ji Group Co. Ltd (China)
NR Electric Co. Ltd. (China)
Prysmian Group. (Italy)
TBEA Co., Ltd. (China)
The competitive landscape is constantly evolving as companies adapt to changing market dynamics, technological advancements, and regulatory shifts. Collaboration, strategic partnerships, and investments in research and development are common strategies employed by players to gain a competitive edge and capture new opportunities in the dynamic energy landscape.
Growth Factor Analysis:
The increasing focus on power trading between countries has propelled the demand for HVDC transmission system market growth. Another reason that bolstered the demand for HVDC transmission system market is the rising need for energy demand in developing nations. Increasing number of installations in Europe, South America, and China is also expected to drive the market growth. With an increase in renewable energy capacity, growth in domestic power trading, and increasing demand for more reliable power supplies, have contributed significantly to the development of the market.
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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period. By Application segment also provides consumption during the forecast period. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
High-power Rating Projects
Low-power Rating Projects
Line Commutated Converter (LCC)
Voltage Source Converter (VSC)
The global HVDC Transmission System Market 2023-2030 is divided into various market segments based on the locations that they are around the globe. This segmentation is useful as it categorizes the various factors that are used to measure the growth of the market according to the various regions. the energy and power sector is a global market, with different regions having unique strengths and challenges. The shift towards renewable energy is a global trend, with countries around the world investing in wind, solar, and other forms of renewable energy to reduce greenhouse gas emissions and improve energy security.
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