Market Size of China High-Voltage Direct Current (HVDC) Transmission Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | High |
Major Players_Transmission_Systems_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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China High-Voltage Direct Current Transmission Systems Market Analysis
The China high-voltage direct current (HVDC) transmission systems market is expected to grow at a CAGR of more than 6% during the forecast period, 2022-2027. The COVID-19 outbreak in Q1 of 2020 had led to the decline of national energy demand by more than 4% compared to 2019 and further delayed transmission and distribution project executions across the country. Factors such as the increasing investments and upcoming transmission and distribution projects, increasing penetration of renewable energy sources, and expansion of electricity infrastructure are likely to drive the Chinese high-voltage direct current (HVDC) transmission systems market during the forecast period. However, the growing adoption of distributed and remote power systems in the country is expected to restrain the China high-voltage direct current (HVDC) transmission systems market during the forecast period.
- The overhead transmission system type is expected to witness significant growth during the forecast period.
- The ambitious offshore wind projects in various provinces, such as Guangdong, plan to build 30 GW by 2030, followed by Jiangsu (15 GW), Zhejiang (6.5 GW), and Fujian (5 GW). The offshore wind development plans are expected to provide immense opportunities for the market players in the coming years.
- Increasing penetration of renewable energy sources is likely to drive the Chinese high-voltage direct current (HVDC) transmission systems market.
