Market Size of United States 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 | > 11.00 % |
| Market Concentration | Medium |
Major Players_Transmission_Systems_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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US HVDC Transmission Market Analysis
The US high-voltage direct current (HVDC) transmission systems market is expected to register a CAGR of more than 11% during the forecast period of 2022-2027. The COVID-19 outbreak in Q1 of 2020 had a moderate effect in terms of delayed ongoing projects and rescheduling of trends for upcoming projects. Factors such as the increasing investments and upcoming transmission and distribution projects, increasing penetration of renewable energy sources, and expansion of electricity infrastructure are expected to drive the market during the forecast period. However, high installation costs and high losses for smaller transmission distances are likely to hinder the market growth.
- The submarine HVDC transmission system is expected to witness significant growth due to upcoming project developments and an increasing focus on power trading between countries.
- Technological advancements in HVDC transmission systems are expected to help in mitigating operational issues with offshore wind- and solar-based electricity transmission systems. Hence, this is expected to provide a better opportunity for the growth of the HVDC transmission system market in the country.
- The increasing penetration of renewable energy sources is likely to drive the US high-voltage direct current (HVDC) transmission systems market during the forecast period.
