HVDC Transmission Market worth $22.07 billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Aug. 27, 2025 /PRNewswire/ -- The HVDC transmission market is expected to reach USD 22.07 billion by 2030 from USD 15.62 billion in 2025 at a CAGR of 7.2% during the forecast period according to a new report by MarketsandMarkets™. Key drivers fueling the growth of the HVDC transmission market are the integration of VSC technology into HVDC systems, rapid transition toward renewable energy, and strong focus of governments and utilities on grid modernization to improve power reliability. These factors are collectively accelerating HVDC adoption across new projects and cross-border interconnections. Additionally, constant advances in power electronics, adoption of digital and automation technologies, electrification of the transportation sector, and growing demand for integrated networks across long distances provide opportunities to the players in the HVDC transmission market. These opportunities are expected to encourage innovation and strategic investments by key industry stakeholders.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1225

Browse in-depth TOC on 'HVDC Transmission Market' 
150 – Tables
65 – Figures
260 – Pages

HVDC Transmission Market Scope:

The converter station segment is expected to register the fastest growth in the component segment during the forecast period.

During the forecast period, converter stations are expected to register the fastest growth in the HVDC transmission components market. This growth is primarily driven by increasing investments in large-scale renewable energy integration projects and cross-border electricity transmission. Converter stations are crucial in converting AC to DC and vice versa, enabling long-distance power transfer with minimal losses. The widespread adoption of Voltage Source Converters (VSC) over Line Commutated Converters (LCC) due to their compact size, modularity, and ability to integrate renewable energy sources such as offshore wind further propels demand. Countries with aging grid infrastructure are also investing in modern HVDC converter stations to support grid reliability and efficiency. Moreover, advancements in converter technologies, including advanced power semiconductors and digital monitoring systems, enhance operational efficiency and reduce costs. Asia Pacific and Europe are leading in the deployment of new converter stations, backed by national electrification plans and energy transition strategies. Additionally, increased interconnection of national grids and demand for point-to-point and multi-terminal HVDC projects are expected to boost converter station deployment globally. As utilities aim to reduce carbon emissions and improve grid resilience, the demand for highly efficient converter stations will continue to grow rapidly over the forecast period.

The bulk power transmission segment is projected to account for the largest share of the application segment during the forecast period.

Bulk power transmission is projected to dominate the application segment of the HVDC transmission industry throughout the forecast period. The ability of HVDC systems to efficiently transmit large volumes of electricity over long distances with minimal losses makes them ideal for bulk power transfer. This capability is significant for transporting electricity from remote renewable energy sources, such as offshore wind farms and large solar parks, to high-demand urban and industrial centers. As energy demands grow in both developing and developed economies, utilities are increasingly investing in HVDC infrastructure to stabilize their grids and ensure reliable energy delivery across regions. Furthermore, HVDC is essential in connecting asynchronous grids, enabling energy exchange across borders and enhancing regional power security. The China–Pakistan Economic Corridor, India's Green Energy Corridors, and European interconnectors are strong examples of large-scale HVDC deployments for bulk power transmission. The cost advantages of fewer conductors, reduced transmission corridors, and lower operational losses also favor HVDC over traditional AC systems for high-capacity applications. As governments push for carbon-neutral power infrastructure and utilities expand long-haul transmission lines to integrate renewables, bulk power transmission will continue to represent the primary use case for HVDC systems worldwide.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1225

By region, Europe is anticipated to hold the second-largest market share during the forecast period.

Europe is anticipated to hold the second-largest share in the global HVDC transmission components market during the forecast period, driven by its strong focus on renewable energy adoption, cross-border grid integration, and energy sector decarbonization. The region has witnessed significant deployment of HVDC systems for offshore wind power integration, especially in countries like Germany, the UK, and the Netherlands. The European Union's Green Deal and Fit-for-55 initiatives are also encouraging large-scale investment in sustainable energy infrastructure, including HVDC interconnections. Europe's early adoption of voltage source converter (VSC) technology and its strong emphasis on digital and flexible grid infrastructure are further accelerating component demand, especially converter stations and cables. Additionally, the need to strengthen interconnections between Nordic, Central, and Southern European grids is fueling new projects that require advanced HVDC components. While Asia Pacific continues to dominate in absolute market size, Europe remains highly attractive due to its technological leadership, mature regulatory framework, and active participation in climate goals. Strong support from the European Commission, along with partnerships among transmission system operators (TSOs), is expected to keep Europe at the forefront of HVDC innovations. These trends will cement the region's position as the second-largest contributor to HVDC component revenues.

The report profiles key players in HVDC transmission companies such as include Hitachi, Ltd. (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), GE Vernova (US), Prysmian Group (Italy), TOSHIBA CORPORATION (Japan), NKT A/S (Denmark), Nexans (France), LS ELECTRIC Co., Ltd. (South Korea), and NR Electric Co., Ltd. (China). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1225

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

See More Latest Semiconductor Reports:

HVAC System Market by Cooling (Unitary AC, VRF, Chiller, Cooling Tower, Cooler), Heating (Heat Pump, Boiler, Unitary Heater, Furnace), Ventilation (AHU, Air Filter, Humidifier, Purifier), Technology (Smart, Sustainable), Service - Global Forecast to 2030

NDT and Inspection Market by Technique (Ultrasonic Testing, Visual, Magnetic Particle, Liquid Penetration, Eddy-Current, Radiographic, Acoustic Emission), Service, Method, Vertical, Application and Region - Global Forecast to 2030

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hvdc-grid-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/hvdc-grid.asp

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg