Global HVDC Transmission Market was valued at US$ 7.2Bn in 2018 and is expected to reach US$ 13.5Bn by 2026, at a CAGR of 8.17% during a forecast period.



Major driving factorof global HVDC transmission market growth are optimum solutions for long distance transmission, increasing demand for VSC technology, change toward renewable strength, and supportive management policies and creativities for HVDC transmission. Still, the high cost of installing HVDC transmission systems is the main restraint for the growth of the market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Based on the application segment,HVDC systems are preferred for sending bulk power across long distances, with less power losses. Thefundamentalknowledge valuable for overcoming an important problem connected with renewable energy generation, collecting points for which are seldom located near the population centers that need them. HVDC is sensible, which results in advanced efficiency, lesser conductor, no responsive power reward, and furtherconstant and reliable operations than acorresponding high voltage alternating current (HVAC) system transmitting the same amount of power.

On the basis of project type segment, the global HVDC transmission market for multi-terminal is estimated to witness the highest CAGR. Multi-terminal HVDC systems connect non-synchronous control systems and offer flexibility in switching power between 3 or more converter stations. Multi-terminal HVDC systems are one of the cost-effective ways to collective large amounts of renewable energies through HVDC land cables, sea cables, or overhead lines on one side, and connect the collected energy to the main AC system through a common DC network.

In terms of region, the global HVDC transmission market in APAC is presently witnessing an exponential growth in terms of power consumption. The development of power organization in this region offers many growth openings for market players. China is investing heavily in renewable energy and implementing latest UHVDC technology for power transmission. For example, 2 of the world’s most powerful and longest HVDC power transmission roads, each with a nominal rating of 3,000 MW, are currently being installed in China. These factors are projected to fuel the global HVDC transmission market in APAC in the coming years.