The Europe HVDC Transmission Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030).
HVDC interconnections between neighbouring countries or regions facilitate cross-border electricity trading. This allows for efficient utilization of energy resources and can lead to economic benefits for both parties. HVDC transmits electricity across geographical barriers such as mountains, deserts, and bodies of water. The applications of HVDC transmission continue to evolve as the energy landscape changes, with a growing emphasis on renewable energy integration, grid modernization, and cross-border energy cooperation. HVDC technology enables efficient and reliable electricity transmission in various scenarios.
In some cases, governments provide incentives and funding for HVDC projects. While HVDC technology offer many benefits, it faces challenges, such as high initial costs, technical complexities, and regulatory issues. Converting existing AC infrastructure to HVDC can be expensive and logistically challenging.
Europe's geography includes various bodies of water, making undersea and subsea HVDC cable connections essential for connecting offshore wind farms and interconnecting islands with the mainland grid. Projects like the North Sea Link between the UK and Norway and the NordBalt interconnector between Lithuania and Sweden demonstrate the use of HVDC for these applications. Many European countries are working on developing energy islands, which are self-sufficient regions with significant renewable energy capacity. HVDC transmission can connect these islands to the mainland grid and enable energy exchange. These factors will drive the market’s growth in this region in the coming years.
The Germany market dominated the Europe HVDC Transmission Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $971.1 million by 2030. The UK market is exhibiting a CAGR of 4.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.1% during (2023 - 2030).
Based on Project Type, the market is segmented into Point-to-point (Monopolar Transmission Systems, and Bipolar Transmission Systems), Back-to-back, and Multi-terminal. Based on Technology, the market is segmented into Line Commutated Converter (LCC), Capacitor Commutated Converter (CCC), and Voltage Source Converter (VSC). Based on Application, the market is segmented into Bulk Power Transmission, Interconnecting Grids, and Infeed Urban Areas. Based on Component, the market is segmented into Converter Stations, Transmission Cables, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global HVDC Transmission Market will Hit $16.5 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hitachi, Ltd., Mitsubishi Electric Corporation, Siemens Energy AG, General Electric Company, Prysmian Group, Toshiba Corporation, NKT Photonics A/S (NKT A/S), Nexans S.A., LS ELECTRIC CO., Ltd, and NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
Scope of the Study
Market Segments Covered in the Report:
By Project Type
- Point-to-point
- Monopolar Transmission Systems
- Bipolar Transmission Systems
- Back-to-back
- Multi-terminal
By Technology
- Line Commutated Converter (LCC)
- Capacitor Commutated Converter (CCC)
- Voltage Source Converter (VSC)
By Application
- Bulk Power Transmission
- Interconnecting Grids
- Infeed Urban Areas
By Component
- Converter Stations
- Transmission Cables
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Hitachi, Ltd.
- Mitsubishi Electric Corporation
- Siemens Energy AG
- General Electric Company
- Prysmian Group
- Toshiba Corporation
- NKT Photonics A/S (NKT A/S)
- Nexans S.A.
- LS ELECTRIC CO., Ltd
- NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
TABLE 1 Europe HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 2 Europe HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 3 Europe HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 4 Europe HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 5 Europe Point-to-point Market by Country, 2019 - 2022, USD Million
TABLE 6 Europe Point-to-point Market by Country, 2023 - 2030, USD Million
TABLE 7 Europe HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 8 Europe HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 9 Europe Monopolar Transmission Systems Market by Country, 2019 - 2022, USD Million
TABLE 10 Europe Monopolar Transmission Systems Market by Country, 2023 - 2030, USD Million
TABLE 11 Europe Bipolar Transmission Systems Market by Country, 2019 - 2022, USD Million
TABLE 12 Europe Bipolar Transmission Systems Market by Country, 2023 - 2030, USD Million
TABLE 13 Europe Back-to-back Market by Country, 2019 - 2022, USD Million
TABLE 14 Europe Back-to-back Market by Country, 2023 - 2030, USD Million
TABLE 15 Europe Multi-terminal Market by Country, 2019 - 2022, USD Million
TABLE 16 Europe Multi-terminal Market by Country, 2023 - 2030, USD Million
TABLE 17 Europe HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 18 Europe HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 19 Europe Line Commutated Converter (LCC) Market by Country, 2019 - 2022, USD Million
TABLE 20 Europe Line Commutated Converter (LCC) Market by Country, 2023 - 2030, USD Million
TABLE 21 Europe Capacitor Commutated Converter (CCC) Market by Country, 2019 - 2022, USD Million
TABLE 22 Europe Capacitor Commutated Converter (CCC) Market by Country, 2023 - 2030, USD Million
TABLE 23 Europe Voltage Source Converter (VSC) Market by Country, 2019 - 2022, USD Million
TABLE 24 Europe Voltage Source Converter (VSC) Market by Country, 2023 - 2030, USD Million
TABLE 25 Europe HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 26 Europe HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 27 Europe Bulk Power Transmission Market by Country, 2019 - 2022, USD Million
TABLE 28 Europe Bulk Power Transmission Market by Country, 2023 - 2030, USD Million
TABLE 29 Europe Interconnecting Grids Market by Country, 2019 - 2022, USD Million
TABLE 30 Europe Interconnecting Grids Market by Country, 2023 - 2030, USD Million
TABLE 31 Europe Infeed Urban Areas Market by Country, 2019 - 2022, USD Million
TABLE 32 Europe Infeed Urban Areas Market by Country, 2023 - 2030, USD Million
TABLE 33 Europe HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 34 Europe HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 35 Europe Converter Stations Market by Country, 2019 - 2022, USD Million
TABLE 36 Europe Converter Stations Market by Country, 2023 - 2030, USD Million
TABLE 37 Europe Transmission Cables Market by Country, 2019 - 2022, USD Million
TABLE 38 Europe Transmission Cables Market by Country, 2023 - 2030, USD Million
TABLE 39 Europe Others Market by Country, 2019 - 2022, USD Million
TABLE 40 Europe Others Market by Country, 2023 - 2030, USD Million
TABLE 41 Europe HVDC Transmission Market by Country, 2019 - 2022, USD Million
TABLE 42 Europe HVDC Transmission Market by Country, 2023 - 2030, USD Million
TABLE 43 Germany HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 44 Germany HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 45 Germany HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 46 Germany HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 47 Germany HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 48 Germany HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 49 Germany HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 50 Germany HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 51 Germany HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 52 Germany HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 53 Germany HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 54 Germany HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 55 UK HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 56 UK HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 57 UK HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 58 UK HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 59 UK HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 60 UK HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 61 UK HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 62 UK HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 63 UK HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 64 UK HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 65 UK HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 66 UK HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 67 France HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 68 France HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 69 France HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 70 France HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 71 France HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 72 France HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 73 France HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 74 France HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 75 France HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 76 France HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 77 France HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 78 France HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 79 Russia HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 80 Russia HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 81 Russia HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 82 Russia HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 83 Russia HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 84 Russia HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 85 Russia HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 86 Russia HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 87 Russia HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 88 Russia HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 89 Russia HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 90 Russia HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 91 Spain HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 92 Spain HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 93 Spain HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 94 Spain HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 95 Spain HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 96 Spain HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 97 Spain HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 98 Spain HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 99 Spain HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 100 Spain HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 101 Spain HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 102 Spain HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 103 Italy HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 104 Italy HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 105 Italy HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 106 Italy HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 107 Italy HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 108 Italy HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 109 Italy HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 110 Italy HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 111 Italy HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 112 Italy HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 113 Italy HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 114 Italy HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 115 Rest of Europe HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 116 Rest of Europe HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 117 Rest of Europe HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 118 Rest of Europe HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 119 Rest of Europe HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 120 Rest of Europe HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 121 Rest of Europe HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 122 Rest of Europe HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 123 Rest of Europe HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 124 Rest of Europe HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 125 Rest of Europe HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 126 Rest of Europe HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 127 Key Information – Hitachi, Ltd.
TABLE 128 key Information – Mitsubishi Electric Corporation
TABLE 129 Key Information – Siemens Energy AG
TABLE 130 Key Information – General Electric Company
TABLE 131 Key Information – Prysmian Group
TABLE 132 Key Information – Toshiba Corporation
TABLE 133 Key Information – NKT Photonics A/S
TABLE 134 Key Information – Nexans S.A.
TABLE 135 Key Information – LS ELECTRIC Co., Ltd
TABLE 136 Key information – NR Electric Co., Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 Europe HVDC Transmission Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the HVDC Transmission Market
FIG 4 Market Share Analysis, 2022
FIG 5 Porter’s Five Forces Analysis – HVDC transmission Market
FIG 6 Europe HVDC Transmission Market Share by Project Type, 2022
FIG 7 Europe HVDC Transmission Market Share by Project Type, 2030
FIG 8 Europe HVDC Transmission Market by Project Type, 2019 - 2030, USD Million
FIG 9 Europe HVDC Transmission Market Share by Technology, 2022
FIG 10 Europe HVDC Transmission Market Share by Technology, 2030
FIG 11 Europe HVDC Transmission Market by Technology, 2019 - 2030, USD Million
FIG 12 Europe HVDC Transmission Market Share by Application, 2022
FIG 13 Europe HVDC Transmission Market Share by Application, 2030
FIG 14 Europe HVDC Transmission Market by Application, 2019 - 2030, USD Million
FIG 15 Europe HVDC Transmission Market Share by Component, 2022
FIG 16 Europe HVDC Transmission Market Share by Component, 2030
FIG 17 Europe HVDC Transmission Market by Component, 2019 - 2030, USD Million
FIG 18 Europe HVDC Transmission Market Share by Country, 2022
FIG 19 Europe HVDC Transmission Market Share by Country, 2030
FIG 20 Europe HVDC Transmission Market by Country, 2019 - 2030, USD Million
FIG 21 Swot Analysis: Hitachi, Ltd.
FIG 22 Recent strategies and developments: Mitsubishi Electric Corporation
FIG 23 SWOT Analysis: Mitsubishi Electric Corporation
FIG 24 SWOT Analysis: Siemens Energy AG
FIG 25 SWOT Analysis: General Electric Company
FIG 26 SWOT Analysis: Prysmian Group
FIG 27 SWOT Analysis: Toshiba Corporation
FIG 28 SWOT Analysis: NKT Photonics A/S
FIG 29 SWOT Analysis: Nexans S.A.
FIG 30 SWOT Analysis: LS ELECTRIC Co., Ltd
FIG 31 SWOT Analysis: NR Electric Co., Ltd.