North America High Voltage Direct Current (HVDC) Transmission Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Transmission Type (Submarine HVDC Transmission System, HVDC Overhead Transmission System, and HVDC Underground Transmission System), Component (Converter Stations, and Transmission Medium (Cables)), and Geography (United States, Canada, and Rest of North America)

Market Snapshot

Market Summary-North America High-Voltage Direct Current (HVDC) Transmission System Market
Study Period: 2016 - 2026
Base Year: 2021
CAGR: 17.79 %

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Market Overview

The market for high voltage direct current (HVDC) transmission systems in North America is expected to grow at a CAGR of approximately 17.79% during the forecast period of 2020 – 2025. Plans to boost the offshore wind farm sector, low cost for long distance transmission, controllability, and low short circuit current are some of the significant factors that are expected to drive the HVDC transmission systems market in the North America region over the forecast period. Wind and solar PV power are expected to drive strong growth in renewable energy, as solar along with wind is likely to produce more than 50% of the total generation in the region. On the other hand, high installation costs and high losses for smaller transmission distances are likely to hinder the market growth.

  • Submarine HVDC transmission system is expected to account for the largest share in North America HVDC transmission systems market by transmission type on account of upcoming development projects driven by the increasing focus on power trading between countries.
  • The growth of offshore wind power technology and the offshore oil and gas sector is likely to create immense opportunities for the market studied.
  • The United States is expected to dominate the market over the forecast period owing to the development of renewable power generation and offshore wind installations.

Scope of the Report

The North America high voltage direct current (HVDC) transmission systems market report include:

Transmission Type
Submarine HVDC Transmission System
HVDC Overhead Transmission System
HVDC Underground Transmission System
Converter Stations
Transmission Medium (Cables)
United States
Rest of North America

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Key Market Trends

Increasing Demand for Submarine HVDC Transmission System

  • The submarine transmission of electricity is gaining importance on account of increasing focus on power trading between countries. The HVDC submarine power transmission system is considered as a key technology for the development of future power transmission networks.
  • It is also the only solution available for the transfer of high power across long subsea distances. For these reasons, HVDC lines are preferred for interconnecting offshore wind plants worldwide.
  • In the HVDC transmission system, the submarine power cables can be less costly, especially on a long link where the capacitance of the cable requires too much additional charging current.
  • The upcoming projects in North America such as Atlantic Wind Connection-Transmission (worth of USD 5 billion approx.), Grain Belt Express Clean Line (worth of USD 3 billion approx.), Trans West Express Transmission Line (worth of USD 3 billion approx.), etc. are anticipated to create huge demand for HVDC transmission systems.
  • Moreover, in October 2019, NKT successfully completed the Caithness-Moray turnkey project of 320-kV high-voltage direct current (HVDC) XLPE, covering both off- and onshore power cable system, with a total transmission length of 160 km.
  • Hence, the increasing offshore activities is expected to drive the market for submarine HVDC transmission system, during the forecast period.
North America HVDC Transmission System Market- Net Electricity Generation From Renewable Source

The United States to Dominate the Market

  • The market for HVDC in the United States is likely to grow at a significant rate during the forecast period. The transmission and distribution (T&D) loss in the United States was estimated to be around 5% (averaged over the period 2014-2018), lower than global T&D loss, and is among the lowest in the world.
  • The United States government has been promoting the deployment of the HVDC lines to transfer large amounts of power over long distances. They are now being proposed to move electricity generated from wind in high-quality wind resource regions to other parts of the country.
  • Furthermore, the United States offshore wind installation still lags far behind with only 30 MW of installed capacity as of 2018. The government, in order to instigate the development of the offshore wind, has plans to invest over USD 70 billion till 2030 to revamp the offshore installation.
  • The Trans West Express Transmission Line project of value USD 3 billion approximately, that is going to start in the year 2022, is being planned to transmit low-cost wind power from the blustery plains of Wyoming to the energy hungry cities and conurbations of California, Nevada and Arizona.
  • Also, the Danish investment firm and Siemens AG are backing a proposed USD 2.5 billion underground high-voltage direct-current transmission line that would be the first of its kind in the United States. The line would be used to transmit cheap Iowa wind power and other energy from the Upper Great Plains to the eastern United States.
  • Therefore, with the development of renewable, and especially the offshore wind in the United States, the market is likely to witness growth over the forecast period.
North America HVDC Transmission System Market- Net Generation by Energy Source

Competitive Landscape

The market for high voltage direct current (HVDC) transmission systems in North America is fragmented, with the presence of numerous players, including ABB Ltd., Siemens AG, Toshiba Corporation, General Electric Company, and Alstom SA.

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Transmission Type

      1. 5.1.1 Submarine HVDC Transmission System

      2. 5.1.2 HVDC Overhead Transmission System

      3. 5.1.3 HVDC Underground Transmission System

    2. 5.2 Component

      1. 5.2.1 Converter Stations

      2. 5.2.2 Transmission Medium (Cables)

    3. 5.3 Geography

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Rest of North America


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 ABB Ltd.

      2. 6.4.2 General Electric Company

      3. 6.4.3 Siemens AG

      4. 6.4.4 Alstom SA

      5. 6.4.5 Schneider Electric SE

      6. 6.4.6 LS Industrial Systems Co Ltd

      7. 6.4.7 Cisco Systems, Inc.

      8. 6.4.8 NKT A/S

      9. 6.4.9 Prysmian SpA

      10. 6.4.10 Toshiba Corporation

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The North America High-Voltage Direct Current (HVDC) Transmission Systems Market market is studied from 2016 - 2026.

The North America High-Voltage Direct Current (HVDC) Transmission Systems Market is growing at a CAGR of 17.79% over the next 5 years.

ABB Ltd. , Siemens AG , General Electric Company , Toshiba Corporation , Alstom SA are the major companies operating in North America High-Voltage Direct Current (HVDC) Transmission Systems Market.

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