The North America HVDC Transmission Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030).
The HVDC transmission market is driven by the increasing demand for VSC technology. Usually, HVDC technology is generally used to transmit electricity over extended distances. In addition, the rising demand for high-voltage direct current transmission is primarily attributable to the increasing global demand for electricity. Increasing power demand is driving the need for an efficient and dependable transmission infrastructure, and HVDC transmission systems are being considered a solution. HVDC technology enables the development of international power lines between adjacent nations or regions.
Continuous advancements in HVDC technology, including voltage-source converters (VSC-HVDC) and line-commutated converters (LCC-HVDC), drive the market's development. VSC-HVDC systems are gaining popularity due to their improved controllability and performance. Prominent companies involved in the HVDC transmission market include ABB, Siemens, General Electric (GE), Hitachi ABB Power Grids, and Toshiba. These companies provide various HVDC solutions and services. Government support and policies to enhance grid infrastructure, promote renewable energy, and improve energy efficiency play a vital role in the growth of the HVDC transmission market.
North America has been witnessing a significant increase in renewable energy generation, particularly from sources such as wind and solar. HVDC transmission is essential for efficiently transporting renewable energy to urban and load centres from remote areas with abundant resources. Projects like the Plains & Eastern Clean Line and the Champlain Hudson Power Express in the United States are examples of HVDC lines aimed at integrating renewable energy. North America's neighbouring countries, such as the United States, Canada, and Mexico, are increasingly interconnected through HVDC transmission lines. These factors will propel the growth of the market.
The US market dominated the North America HVDC Transmission Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,111.9 million by 2030. The Canada market is experiencing a CAGR of 7.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The HVDC Transmission Market is Predict to reach $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
- US
- Canada
- Mexico
- Rest of North America
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.)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America HVDC Transmission Market, by Project Type
1.4.2 North America HVDC Transmission Market, by Technology
1.4.3 North America HVDC Transmission Market, by Application
1.4.4 North America HVDC Transmission Market, by Component
1.4.5 North America HVDC Transmission Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2022
4.2 Porter Five Forces Analysis
Chapter 5. North America HVDC Transmission Market by Project Type
5.1 North America Point-to-point Market by Country
5.2 North America HVDC Transmission Market by Point-to-point Type
5.2.1 North America Monopolar Transmission Systems Market by Region
5.2.2 North America Bipolar Transmission Systems Market by Region
5.3 North America Back-to-back Market by Country
5.4 North America Multi-terminal Market by Country
Chapter 6. North America HVDC Transmission Market by Technology
6.1 North America Line Commutated Converter (LCC) Market by Country
6.2 North America Capacitor Commutated Converter (CCC) Market by Country
6.3 North America Voltage Source Converter (VSC) Market by Country
Chapter 7. North America HVDC Transmission Market by Application
7.1 North America Bulk Power Transmission Market by Country
7.2 North America Interconnecting Grids Market by Country
7.3 North America Infeed Urban Areas Market by Country
Chapter 8. North America HVDC Transmission Market by Component
8.1 North America Converter Stations Market by Country
8.2 North America Transmission Cables Market by Country
8.3 North America Others Market by Country
Chapter 9. North America HVDC Transmission Market by Country
9.1 US HVDC Transmission Market
9.1.1 US HVDC Transmission Market by Project Type
9.1.1.1 US HVDC Transmission Market by Point-to-point Type
9.1.2 US HVDC Transmission Market by Technology
9.1.3 US HVDC Transmission Market by Application
9.1.4 US HVDC Transmission Market by Component
9.2 Canada HVDC Transmission Market
9.2.1 Canada HVDC Transmission Market by Project Type
9.2.1.1 Canada HVDC Transmission Market by Point-to-point Type
9.2.2 Canada HVDC Transmission Market by Technology
9.2.3 Canada HVDC Transmission Market by Application
9.2.4 Canada HVDC Transmission Market by Component
9.3 Mexico HVDC Transmission Market
9.3.1 Mexico HVDC Transmission Market by Project Type
9.3.1.1 Mexico HVDC Transmission Market by Point-to-point Type
9.3.2 Mexico HVDC Transmission Market by Technology
9.3.3 Mexico HVDC Transmission Market by Application
9.3.4 Mexico HVDC Transmission Market by Component
9.4 Rest of North America HVDC Transmission Market
9.4.1 Rest of North America HVDC Transmission Market by Project Type
9.4.1.1 Rest of North America HVDC Transmission Market by Point-to-point Type
9.4.2 Rest of North America HVDC Transmission Market by Technology
9.4.3 Rest of North America HVDC Transmission Market by Application
9.4.4 Rest of North America HVDC Transmission Market by Component
Chapter 10. Company Profiles
10.1 Hitachi, Ltd.
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.6 SWOT Analysis
10.2 Mitsubishi Electric Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Acquisition and Mergers:
10.2.6 SWOT Analysis
10.3 Siemens Energy AG
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 General Electric Company
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 Prysmian Group
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.5.6 SWOT Analysis
10.6 Toshiba Corporation
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research and Development Expense
10.6.5 SWOT Analysis
10.7 NKT Photonics A/S (NKT A/S)
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expenses
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.6 SWOT Analysis
10.8 Nexans S.A.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 SWOT Analysis
10.9 LS ELECTRIC CO., Ltd
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 SWOT Analysis
10.1 NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
10.10.1 Company Overview
10.10.2 SWOT Analysis
TABLE 1 North America HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 2 North America HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 3 North America HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 4 North America HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 5 North America Point-to-point Market by Country, 2019 - 2022, USD Million
TABLE 6 North America Point-to-point Market by Country, 2023 - 2030, USD Million
TABLE 7 North America HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 8 North America HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 9 North America Monopolar Transmission Systems Market by Region, 2019 - 2022, USD Million
TABLE 10 North America Monopolar Transmission Systems Market by Region, 2023 - 2030, USD Million
TABLE 11 North America Bipolar Transmission Systems Market by Region, 2019 - 2022, USD Million
TABLE 12 North America Bipolar Transmission Systems Market by Region, 2023 - 2030, USD Million
TABLE 13 North America Back-to-back Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Back-to-back Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Multi-terminal Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Multi-terminal Market by Country, 2023 - 2030, USD Million
TABLE 17 North America HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 18 North America HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 19 North America Line Commutated Converter (LCC) Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Line Commutated Converter (LCC) Market by Country, 2023 - 2030, USD Million
TABLE 21 North America Capacitor Commutated Converter (CCC) Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Capacitor Commutated Converter (CCC) Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Voltage Source Converter (VSC) Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Voltage Source Converter (VSC) Market by Country, 2023 - 2030, USD Million
TABLE 25 North America HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 26 North America HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 27 North America Bulk Power Transmission Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Bulk Power Transmission Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Interconnecting Grids Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Interconnecting Grids Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Infeed Urban Areas Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Infeed Urban Areas Market by Country, 2023 - 2030, USD Million
TABLE 33 North America HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 34 North America HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 35 North America Converter Stations Market by Country, 2019 - 2022, USD Million
TABLE 36 North America Converter Stations Market by Country, 2023 - 2030, USD Million
TABLE 37 North America Transmission Cables Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Transmission Cables Market by Country, 2023 - 2030, USD Million
TABLE 39 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 40 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 41 North America HVDC Transmission Market by Country, 2019 - 2022, USD Million
TABLE 42 North America HVDC Transmission Market by Country, 2023 - 2030, USD Million
TABLE 43 US HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 44 US HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 45 US HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 46 US HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 47 US HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 48 US HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 49 US HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 50 US HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 51 US HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 52 US HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 53 US HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 54 US HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 55 Canada HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 56 Canada HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 57 Canada HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 58 Canada HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 59 Canada HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 60 Canada HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 61 Canada HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 62 Canada HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 63 Canada HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 64 Canada HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 65 Canada HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 66 Canada HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 67 Mexico HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 68 Mexico HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 69 Mexico HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 70 Mexico HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 71 Mexico HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 72 Mexico HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 73 Mexico HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 74 Mexico HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 75 Mexico HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 76 Mexico HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 77 Mexico HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 78 Mexico HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 79 Rest of North America HVDC Transmission Market, 2019 - 2022, USD Million
TABLE 80 Rest of North America HVDC Transmission Market, 2023 - 2030, USD Million
TABLE 81 Rest of North America HVDC Transmission Market by Project Type, 2019 - 2022, USD Million
TABLE 82 Rest of North America HVDC Transmission Market by Project Type, 2023 - 2030, USD Million
TABLE 83 Rest of North America HVDC Transmission Market by Point-to-point Type, 2019 - 2022, USD Million
TABLE 84 Rest of North America HVDC Transmission Market by Point-to-point Type, 2023 - 2030, USD Million
TABLE 85 Rest of North America HVDC Transmission Market by Technology, 2019 - 2022, USD Million
TABLE 86 Rest of North America HVDC Transmission Market by Technology, 2023 - 2030, USD Million
TABLE 87 Rest of North America HVDC Transmission Market by Application, 2019 - 2022, USD Million
TABLE 88 Rest of North America HVDC Transmission Market by Application, 2023 - 2030, USD Million
TABLE 89 Rest of North America HVDC Transmission Market by Component, 2019 - 2022, USD Million
TABLE 90 Rest of North America HVDC Transmission Market by Component, 2023 - 2030, USD Million
TABLE 91 Key Information – Hitachi, Ltd.
TABLE 92 key Information – Mitsubishi Electric Corporation
TABLE 93 Key Information – Siemens Energy AG
TABLE 94 Key Information – General Electric Company
TABLE 95 Key Information – Prysmian Group
TABLE 96 Key Information – Toshiba Corporation
TABLE 97 Key Information – NKT Photonics A/S
TABLE 98 Key Information – Nexans S.A.
TABLE 99 Key Information – LS ELECTRIC Co., Ltd
TABLE 100 Key information – NR Electric Co., Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America HVDC Transmission Market Share by Project Type, 2022
FIG 7 North America HVDC Transmission Market Share by Project Type, 2030
FIG 8 North America HVDC Transmission Market by Project Type, 2019 - 2030, USD Million
FIG 9 North America HVDC Transmission Market Share by Technology, 2022
FIG 10 North America HVDC Transmission Market Share by Technology, 2030
FIG 11 North America HVDC Transmission Market by Technology, 2019 - 2030, USD Million
FIG 12 North America HVDC Transmission Market Share by Application, 2022
FIG 13 North America HVDC Transmission Market Share by Application, 2030
FIG 14 North America HVDC Transmission Market by Application, 2019 - 2030, USD Million
FIG 15 North America HVDC Transmission Market Share by Component, 2022
FIG 16 North America HVDC Transmission Market Share by Component, 2030
FIG 17 North America HVDC Transmission Market by Component, 2019 - 2030, USD Million
FIG 18 North America HVDC Transmission Market Share by Country, 2022
FIG 19 North America HVDC Transmission Market Share by Country, 2030
FIG 20 North America 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.