Market Size of India HVDC Transmission Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.55 Billion |
| Market Size (2029) | USD 5.39 Billion |
| CAGR (2024 - 2029) | 8.65 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India HVDC Transmission System Market Analysis
The India HVDC Transmission Systems Market size is estimated at USD 3.55 billion in 2024, and is expected to reach USD 5.39 billion by 2029, growing at a CAGR of 8.65% during the forecast period (2024-2029).
The COVID-19 pandemic did not alter the country's medium- to long-term plans for power transmission. Power transmission, which was categorized as an essential service by the Ministry of Power during the COVID-19 period, continued as an usual business in the country. Factors such as growing renewable energy sector, rapid urbanization, and increasing rural electrification, are expectde to drive the market during the forecast period. On the other hand, the growing distributed and remote power systems in the country is likely to hinder the market growth.
- The HVDC overhead transmission system is likely to maintain its larger market share during the forecast period, thus making it a dominating segment in the India HVDC market.
- The country's pan to deploy 30 GW of offshore wind energy installations by 2030, is expected to create several opportunities for HVDC transmission systems, which are more efficient for offshore environments.
- The increasing expansion of transmission electrcity grid in India is expected to drive the country's HVDC transmission systems market during the forecast period.
