Market Size of North America High-Voltage Direct Current (HVDC) Transmission Systems Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 17.79 % |
| Market Concentration | High |
Major Players_Transmission_Systems_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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North America HVDC Market Analysis
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 (2022 - 2027)
The market was severely impacted by the Covid-19 pandemic, as global energy demand plummeted. However, the market has since rebounded strongly and is expected to grow steadily during the forecast period.
- Over the long term, growing investments in renewable energy transmission systems, primarily offshore wind, is expected to drive the market during the forecast period.
- On the other hand, high installation costs and losses for smaller transmission distances are likely to hinder the market growth.
- The growth of offshore wind power technology and the offshore oil and gas sector will likely create immense opportunities for the market studied.
