Market Size of Japan 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 | 6.51 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Japan HVDC Transmission Systems Market Analysis
The Japan High Voltage Direct Current (HVDC) transmission systems market is estimated to be USD 109.48 million in 2021, and it is expected to reach USD 159.82 million by 2027, at a CAGR of 6.51% during 2022-2027. The market was relatively stable from the impact of COVID-19, and it did not witness any significant delays, despite the supply chain disruptions faced by project developers. The major factors driving the market include increasing penetration of renewable energy and policies for increasing investments and efficiency of the transmission system. However, due to the growing adoption of distributed and remote power systems in the country, the demand for HVDC transmission systems is expected to experience a restraint.
- The underground and submarine HVDC transmission system segment is expected to account for the largest share in the Japanese HVDC transmission systems market in terms of transmission type. This is primarily due to the several projects for connecting different islands with HVDC transmission systems owing to several preferable properties, such as low power loss and safety from natural calamities.
- In terms of components, the converter stations segment held the largest share of the market studied. Factors such as increasing demand for bulk power transmission, increasing penetration of HVDC and connecting AC line to DC line for efficient transmission lead to the increased demand for converter stations.
- Japan is undergoing a significant energy transition and is shifting away from fossil fuels. The increasing penetration of renewable energy, especially offshore wind, and solar energy, is expected to drive the market's growth in Japan. In 2020, the government of Japan announced its plan to install 45 GW of offshore wind power in the country by 2040, which foreshadows the increase in demand for subsea transmission lines.
