HVDC Transmission Market

ABB (Switzerland) and Siemens (Germany) are the Top 2 players in the HVDC Transmission Market

The HVDC transmission market is projected to reach USD 12.3 billion by 2024 from USD 8.2 billion in 2018, at a CAGR of 6.9% during 2018–2024. Optimal solutions for long distance transmission, growing demand for VSC technology, shift toward renewable energy, and supportive government policies and initiatives for HVDC transmission are the major drivers for the market’s growth.

Key players in the HVDC transmission market include ABB (Switzerland), Siemens (Germany), General Electric (US), Hitachi (Japan), Mitsubishi Electric (Japan), Nexans (France), NKT A/S (Denmark), NR Electric (China), C-EPRI Electric Power Engineering (China), and Prysmian Group (Italy). These players have adopted strategies such as product launches, partnerships, contracts, collaborations, acquisitions, and expansions to enhance their business and product line, which is likely to help them grow at high pace in the long run.

To know about the assumptions considered for the study download the pdf brochure

For instance, in December 2017, ABB collaborated with State Grid Corporation of China (SGCC) to develop and manufacture the +/-1,100 kV (1.1 million volts) ultrahigh-voltage direct current (UHVDC) transformer. In April 2018, Siemens installed an upgraded control system for the Trans Bay Cable (TBC) project, an HVDC transmission system with voltage-sourced converter (VSC) technology realized in a modular multilevel converter (MMC) topology. The project includes a 53-mile HVDC cable that runs under the San Francisco Bay.

Top 2 players in the HVDC transmission market:

ABB Ltd (ABB) provides power and automation solutions to utilities and industrial customers. The company’s operations are categorized into the following global divisions and business units-Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. The company pioneered the HVDC technology more than 60 years ago and has bagged over 110 HVDC projects, representing over 120,000 MW of total installed capacity and accounting for around half of the globally installed HVDC base.

The company has a wide geographic presence (the Americas, Europe, Africa, and the Middle East). Its HVDC transmission systems are used to connect remote generation, interconnect grids, connect offshore wind power with HVDC, convert DC links into AC grids, deliver power both to and from offshore platforms, connect remote loads, and for city center infeed. The company focuses on both organic and inorganic strategies to maintain its position in the market; between 2015 and 2018, the company primarily focused on expansions and product launches. For example, ABB launched the ABB Ability at 2018 Hanover Fair, in Germany. ABB Ability is claimed to be the world’s first integrated solution for digitally enabled power transformers.

Siemens AG is a company with core activities in the fields of electrification, automation, and digitalization; its offerings include automation technology, process safety consulting, compression and pumping, industrial communications, and totally integrated automation (TIA) solutions. Strategies, such as partnerships and contracts, are an important tool for it to maintain its market position. For example, the company has installed an upgraded control system for the Trans Bay Cable (TBC) project, a high- voltage direct current (HVDC) transmission system with voltage-sourced converter (VSC) technology in a modular multilevel converter (MMC) topology. The upgraded system will enable Trans Bay Cable, via their Pittsburg converter station, to restore electricity to the San Francisco Peninsula after a severe network event and is the first project of its kind in the US.

Related Reports:

HVDC Transmission Market by Component (Convertor Stations, Transmission Cables, and Others), Technology (CCC, VSC, LCC, and UHVDC), Project Type, Power Rating, Application, and Geography - Global Forecast to 2023

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

HVDC Transmission Market Size,  Share & Growth Report
Report Code
SE 3052
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2023 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status