HVDC Transmission Systems Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast 2022 to 2028

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The historical period from 2013 to 2021 had a significant CAGR of 7.3% in the demand for HVDC transmission systems. Some of the key drivers of the worldwide HVDC transmission systems market, including the need for minimal expenditures, the likelihood of minimal losses, and the ability to t

The market for HVDC transmission systems is anticipated to develop at an excellent CAGR of 8.9% from 2022 to 2028, creating a market potential that will be measured in absolute dollars. The global market is anticipated to grow dramatically, from a US$10.3 billion valuation in 2022 to a US$17.2 billion valuation by 2028. Nearly 15% of the global market for power transmission was accounted for by demand for HVDC transmission systems.

The historical period from 2013 to 2021 had a significant CAGR of 7.3% in the demand for HVDC transmission systems. Some of the key drivers of the worldwide HVDC transmission systems market, including the need for minimal expenditures, the likelihood of minimal losses, and the ability to transfer power between separate alternating current networks. 

According to Future Market Insights, the market for HVDC transmission systems would grow differently in the first half of 2021 and 2022. According to the FMI analysis, the BPS values difference seen in the HVDC transmission systems market in H1, 2022 - Outlook over H1, 2022 anticipated implies a 40-unit decrease. In addition, H1-2022 is expected to see a market decrease of 90 points from H1-2021.

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HVDC transmission systems have substantial installation and maintenance costs due to the nature of their architecture. Modern applications require AC power, so converter stations must be installed at the endpoints to convert DC power to AC power, which raises expenses. So, in comparison to H1-2021, it is limiting market growth in H1-2022. 

When transferring power over short distances, HVDC (High voltage direct current) transmission systems are used. Direct current is anticipated to be used in these systems for effective power transmission. Two technologies, Line Commutated Converter (LCC) and Voltage Source Converter (VSC), are used in HVDC transmission.

A cost-effective method based on thyristor power semiconductors is the Line Commutated Converter. The HVDC transmission system market is now experiencing an increase in demand for HVDC transmission system components such AC DC harmonic filters, converters, DC lines, and circuit breakers to enable system security.

Key Takeaways

  • The long-distance P2P high-voltage direct current transmission concept does not necessarily demand high overall investments. HVDC transmission systems also consist of low losses in comparison to equivalent alternating current transmission variants.
  • Although the installation of high-voltage direct current conversion equipment at terminal stations is economically on the higher side the expenditure incurred by the total direct current transmission line over long distances is considerably lower than the alternating current transmission line installed over the same distance.
  • HVDC transmission systems are anticipated to demand comparatively less conductor per unit distance as compared to an alternating current transmission system. This prominent factor is estimated to propel the adoption of HVDC transmission systems during the forecast period.
  • The global HVDC transmission systems market was valued at US$ 5.4 Bn in 2013. HVDC (High Voltage Direct Current) transmission system vendors are focused on maintaining a long-term partnership with the consumer to increase market share in the global market.
  • High-voltage direct current transmission systems comprise the potential to transfer electric power between separate alternating current networks. This specific power transfer is able to be autonomously controlled by the HVDC transmission systems in order to support individual networks throughout the transient conditions. In addition to that, the integration of at least one HVDC link in an alternating current grid can improve the overall system controllability

Competitive Landscape

The HVDC transmission system solution providers focus on launching innovative solutions and expanding their HVDC transmission system solution offerings in order to deliver improved technology along with new and technologically advanced solutions in new markets. The business alliances strategy helps the company in product development, technological management, and expanding its customer base.

  • ABB Ltd.
  • Siemens AG
  • Toshiba Corporation
  • General Electric Co.
  • Mitsubishi Electric Corporation
  • Prysmian SpA
  • TransGrid Solutions Inc.
  • Abengoa S.A.
  • LS Industrial Systems Co., Ltd.

More Insights into the HVDC Transmission Systems Market

North America is anticipated to remain the dominant region and one of the most attractive markets throughout the forecast period. In the North American region, Canada is anticipated to surge at a phenomenal pace of around 9.0% CAGR during the forecast period. The Canada HVDC transmission systems market is expected to reach 1.7X by 2028.

HVDC Transmission System Market Survey By Category

By System Component:

  • HVDC Transmission System Solution
    • AC DC Harmonic Filters
    • Converters
    • DC Lines
    • Circuit Breakers
    • Others
  • HVDC Transmission System Services

By Technology:

  • LCC
  • VSC
  • Others

By Deployment:

  • Overhead
  • Underground
  • Subsea
  • Combination

By Power Rating:

  • Below 1000 MW
  • 1000 - 2000 MW
  • 2000 MW above


  • North America
  • Latin America
  • APEJ
  • Japan
  • Eastern Europe
  • Western Europe
  • MEA

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.


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