Market Size of United Kingdom High-Voltage Direct Current (HVDC) Transmission Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.37 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK HVDC Transmission Systems Market Analysis
The UK HVDC transmission systems market is expected to record a CAGR of approximately 7.37% during the forecast period (2022-2027).
The COVID-19 pandemic had a severe impact on the market, as several projects were delayed. However, the market has since rebounded and is expected to return to pre-pandemic levels during the forecast period.
- Over the long term, the increasing demand for cost-effective solutions for long-distance renewable power transmission may drive the UK HVDC transmission systems market.
- However, the growing demand for distributed and remote power plants that provide electricity in rural areas without the need for significant transmission and distribution infrastructure is expected to hinder the growth of the HVDC transmission systems market in the coming years.
- Technological advancements in HVDC transmission systems are expected to help in mitigating operational issues with wind and solar-based electricity transmission systems, as the phase difference does not matter in the HVDC transmission line. However, conventional HVAC does not work on this principle, it requires transformers to match the phase generated from a different source. Hence, this factor is expected to provide a better opportunity for the growth of the HVDC transmission system market in the country.
