Market Size of HVDC Transmission Systems Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 13.78 Billion |
| Market Size (2029) | USD 21.47 Billion |
| CAGR (2024 - 2029) | 9.28 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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HVDC Transmission System Market Analysis
The HVDC Transmission Systems Market size is estimated at USD 13.78 billion in 2024, and is expected to reach USD 21.47 billion by 2029, growing at a CAGR of 9.28% during the forecast period (2024-2029).
- Over the medium term, factors such as growth of utility-scale renewable energy plants and rural electrification plans worlwide, are expected to be one of the most significant drivers for the HVDC transmission market during the forecast period.
- On the other hand, increasing share of distributed and off-grid power generation. This poses a threat to the HVDC transmission market during the forecast period.
- Nevertheless, the growing energy demand, as well as the growth of the renewable energy sector in the Middle-East and Africa, is expected to create significant opportunities for the HVDC transmission systems market in the near future.
- The Europe region dominates the market and will likely register the highest CAGR during the forecast period. With the increasing energy demannd and expansion of transmission network across the Europe.
