Asia Pacific HVDC Transmission Market

The Asia Pacific HVDC transmission market is projected to reach USD 8.93 billion by 2030, up from USD 6.08 billion in 2025, at a steady CAGR of 8.0% from 2025 to 2030. The growing adoption of renewable energy sources, long-distance and ultra-high voltage transmission corridors, and cross-border transmission are some of the driving factors in the Asia Pacific HVDC transmission market. In Japan, China, India, and Southeast Asian countries, the adoption of HVDC transmission is gaining popularity among power utilities, as it provides increased stability and reduces transmission losses. Regional initiatives focused on grid modernization, decarbonization, and offshore wind development enable technology providers and EPC contractors to showcase advancements and strengthen collaboration. Government-led infrastructure programs and energy-transition policies continue to promote ecosystem growth, significantly contributing to the expansion of the HVDC transmission market across the Asia Pacific.

The Asia Pacific HVDC transmission market is consolidated, with a mix of global technology leaders, regional equipment manufacturers, and EPC contractors supplying converter stations, HVDC cables, and control and protection systems. These companies support diverse applications, including long-distance bulk power transmission, renewable energy integration, cross-border interconnections, and urban infeed systems across rapidly expanding grids in China, India, Japan, and Southeast Asia. Major players in the region include Hitachi Energy (Japan), Siemens Energy (Germany), Mitsubishi Electric (Japan), GE Vernova (US), Prysmian Group (Italy), Nexans (France), NKT A/S (Denmark), LS Electric (South Korea), NR Electric Co., Ltd. (China), ZTT Group (China), and Taihan Cable & Solution Co., Ltd. (South Korea). Product innovation, advancements in high-voltage technology, and collaborations with the energy and contracting industries are some of the strategies employed by the firms to improve their position in the Asia Pacific HVDC transmission market.

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In June 2025, Hitachi Energy secured a contract to supply HVDC systems for China’s Gansu–Zhejiang ±800 kV ultra-high-voltage direct current transmission project, developed by State Grid Corporation of China. The project enables large-scale renewable power transfer from western regions to major consumption hubs in eastern China, strengthening long-distance grid connectivity and supporting China’s energy transition.

In August 2024, Siemens Energy (Germany), in collaboration with Mitsubishi Electric Corporation (Japan), announced the joint development of advanced DC switching station technologies, including high-performance circuit breakers. This collaboration aims to support the deployment of next-generation multi-terminal HVDC systems and enhance flexibility, reliability, and scalability in modern transmission networks.

The key players operating in the Asia Pacific HVDC transmission market include Hitachi, Ltd. (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), GE Vernova (US), Prysmian Group (Italy), Nexans (France), NKT A/S (Denmark), LS ELECTRIC Co., Ltd. (South Korea), NR Electric Co., Ltd. (China), ZTT Group (China), Taihan Cable & Solution Co., Ltd. (South Korea), and others.

Hitachi, Ltd. (Japan)

Hitachi, Ltd. is a prominent player in the Asia Pacific HVDC transmission market, offering advanced high-voltage equipment, grid integration technologies, and system solutions that support the region's growing renewable energy and long-distance transmission needs. The company’s HVDC solutions, which cover converter station components, transformers, and digital control solutions, provide seamless power transmissions, improved system stability, and successful integrations of various wind, hydro, and solar energy projects off the shore and in remote locations. The adequate engineering skills, production facilities, and ongoing R&D efforts of Hitachi, Ltd., which focus on innovative grid solutions, allow the company to deliver high-performance solutions that can easily scale within complex networks. With its established identity within Japan and its active participation in Asia Pacific-based HVDC projects, Hitachi, Ltd. is an essential force driving the modern development of the Asia Pacific's power grid infrastructure.

Siemens Energy (Germany)

Siemens Energy is a primary technology provider in the Asia Pacific HVDC transmission market, delivering state-of-the-art converter stations, HVDC breakers, and advanced control systems designed to enhance grid resilience and support large renewable power flows. The company’s HVDC Plus (VSC) and classic LCC technologies power long-distance transmission links, cross-border interconnections, and offshore wind projects across the region. Siemens Energy’s engineering capabilities, digital grid solutions, and expertise in high-voltage infrastructure enable utilities to improve operational efficiency, minimize transmission losses, and strengthen system stability. Its equipment is engineered for robust performance in diverse environmental conditions, ensuring reliable operation across high-capacity transmission corridors. With strong partnerships throughout the APAC region, including utilities and EPC firms, Siemens Energy continues to play a central role in shaping the next generation of HVDC infrastructure.

Market Ranking

The Asia Pacific HVDC transmission market is consolidated, with leading players collectively accounting for 55–60% of the total market share. Hitachi, Ltd. holds a strong position due to its advanced portfolio of high-voltage transformers, HVDC components, and digital control systems that support the integration of renewable energy, long-distance power transmission, and urban infeed applications. The company's engineering skills, broad regional presence, and close links with major utilities boost its impact in the HVDC ecosystem. Similarly, Siemens Energy retains a significant market share in the Asia Pacific region. This is backed by its wide variety of VSC and LCC converter technologies, HVDC breakers, and system integration skills, which are used in offshore wind projects, cross-border connections, and ultra-high-voltage corridors. Siemens Energy’s execution strength and in-depth collaboration with EPC contractors, and its constant and sustained efforts to develop advanced solutions for efficient grid operations add to its prominence in the constantly changing HVDC transmission landscape.

Related Reports:

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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