Asia Pacific HVDC Transmission Market worth $8.93 billion by 2030
The report "Asia Pacific HVDC Transmission Market by LCC, VSC, CCC, Converter Stations, Transmission Cables, Point-to-point Transmission, Back-to-back Stations, Multi Terminal Systems, Bulk Power Transmission, and Interconnecting Grids – Forecast to 2030", The Asia Pacific HVDC transmission market is expected to reach USD 8.93 billion by 2030, up from USD 6.08 billion in 2025, at a CAGR of 8.0% from 2025 to 2030. The Asia Pacific HVDC transmission market is being driven by several key factors. These include the need for efficient transmission of power over long distances, the integration of renewable energy sources on a mega scale, and the extension of ultra-high voltage transmission. Technology development in LCC, VSC, and control & protection has made it possible to achieve stable and flexible HVDC transmission. In addition, the growing deployment of offshore wind projects, interconnecting grids, and urban infeed systems is broadening HVDC applications beyond traditional bulk transmission. The demands for power and the decarbonization policies of the Asia Pacific countries are bringing HVDC technology to the mainstream of power development in the Asia Pacific.
Browse 155 market data Tables and 65 Figures spread through 280 Pages and in-depth TOC on "Asia Pacific HVDC Transmission Market by LCC, VSC, CCC, Converter Stations, Transmission Cables, Point-to-point Transmission, Back-to-back Stations, Multi Terminal Systems, Bulk Power Transmission, and Interconnecting Grids – Forecast to 2030"
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“The converter stations segment is expected to hold the largest market share in 2025.”
By component type, the converter stations segment is projected to dominate the Asia Pacific HVDC transmission market in 2025. The growth is driven by a rapid increase in the coverage of long-distance HVDC links, a vast integration of renewable energy sources, as well as ultra-high voltage projects implemented in China and India. Converter stations provide efficient AC-DC conversion, grid stabilization, and flexible flow of energy, thereby making them a crucial part of offshore wind connections, inter-regional links, and urban infeed applications. Rising investment in VSC- and LCC-based station upgrades is expected to further strengthen market leadership through 2030.
“The point-to-point transmission segment is expected to hold the highest market share in 2025.”
By project type, the point-to-point transmission segment is expected to account for the largest market share in the Asia Pacific HVDC market in 2025. The key factors that are contributing to the growing adoption of point-to-point transmission in the Asia Pacific region include the commissioning of high-capacity transmission lines that connect renewable energy resource stations located in remote areas to the power-hungry consumption centers. Countries such as China, India, and Japan have widely employed point-to-point transmission lines owing to their high reliability and cost-effective solutions. Continued expansion of long-distance bulk transmission routes is anticipated to accelerate segment growth through 2030.
“The LCC technology segment is expected to lead the market in 2025.”
By technology, the line commutated converter (LCC) segment is expected to hold the largest share of the Asia Pacific HVDC transmission market in 2025. LCC technology is expected to remain a technology of choice for UHVDC projects, especially in China and India, because of its superior current-carrying capacity. The region's rapid buildout of UHVDC corridors continues to drive substantial demand for LCC technology. Ongoing grid modernization and expansion of bulk power transmission networks will further reinforce LCC's dominance through the forecast period.
Key Players
Leading players in the Asia Pacific HVDC transmission market include Hitachi, Ltd. (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), GE Vernova (US), Prysmian Group (Italy), TOSHIBA CORPORATION (Japan), NKT A/S (Denmark), Nexans (France), LS ELECTRIC Co., Ltd. (South Korea), NR Electric Co., Ltd. (China), ZTT Group (China), Taihan Cable & Solution Co., Ltd. (South Korea), and others.
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