A recent report published by Future Market Insights projects that by the end of 2026, the HVDC transmission systems market in Asia-Pacific region will expand at a robust CAGR of 10.1%. Currently, the market is estimated to be valued at US$ 1,447.6 Mn, and is anticipated to surpass US$ 3,700 Mn towards the end of 2026. The report predicts that apart from rising adoption of HVDC transmission systems in APAC’s offshore wind projects, the cost-effectiveness of HVDC transmission systems will also promote their adoption rate.

Huge loads of electricity transmitted over long distances can cost millions of dollars for power distribution companies. In the Asia-Pacific (APAC) region, proliferating expanse of industrialization and urbanization has spiked its power consumption capacities. Power distribution systems operating in this region are adopting advanced technologies and alternative sources. Governments across several APAC countries are inducing higher investment in their offshore wind projects, and while doing so, they are compelled to use efficient power transmission systems. Thus, HVDC transmission systems are actively instated to provide power over long distances across multiple offshore wind projects in the APAC region. Revenues from these measures are projected to fuel the growth of the region’s HVDC transmission systems market.

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Unlike HVAC systems, initial costs of installing HVDC transmission systems are high, but are immaterialised as setting up terminal stations and extending power lines saves quite a lot of capital. Furthermore, HVDC transmission systems are eco-friendly and highly-efficient in supplying power to the remotest of areas as they are deployed in multiple routes such as overhead, underground, subsea, or a combination of these. The report reveals that in 2016, more than one-third of HVDC transmission systems installed across the Asia-Pacific region were deployed as overhead transmission systems. However, towards the end of the forecast period, subsea deployment of HVDC transmission systems is likely to gain traction and rake in over US$ 1 Bn in revenues.

The report also reveals that throughout the forecast period, VSC technology will dominate the HVDC transmission systems market in APAC region by accounting for more than 60% revenue share. Likewise, HVDC transmission systems installed as power solutions will hold a major share of the market’s value, while services offered for working of these systems are likely to register a 12.3% CAGR in terms of revenues.

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The report has bifurcated the APAC region into Japan and Asia-Pacific excluding Japan (APEJ), and these sub-regions are expected to be demand higher power distribution and effective transmission. Another factor promoting the use of HVDC transmission systems over other alternatives is their efficacy in averting power outages or blackouts. Nearly 50% of the market’s revenues are, thus, accounted by HVDC transmission systems with power ratings of 2,001 MWs and above. Also, more than three-fourth of the market’s growth in concentrated in the APEJ region, making it the dominant region in Asia-Pacific.

The report has also profiled prominent players in the APAC HVDC transmission systems market which include ABB Ltd., Siemens AG, Toshiba Corporation, TransGrid Solutions Inc., General Electric Co., Hitachi Ltd., Abengoa SA, ATCO Electric Ltd., and Prysmian SpA.

HVDC Transmission Systems Market: Segmentation

On the basis of system component, the global HVDC Transmission Systems market has been segmented into:

• Solution
  • AC & DC Harmonic Filters
  • Converters
  • DC Lines
  • Circuit Breakers
  • Others
• Services

On the basis of technology, the global HVDC Transmission Systems market has been segmented into:

• LCC (Line Commutated Converters)
• VSC (Voltage Source Converters)
• Others

On the basis of deployment, the global HVDC Transmission Systems market has been segmented into:

• Overhead
• Underground
• Subsea
• Combination

On the basis of power rating, the global HVDC Transmission Systems market has been segmented into:

• Below 1000 MW
• 1000 – 2000 MW
• 2000 MW & above

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Key Questions Answered in the Report

• How is the HVDC transmission systems market expected to grow in terms of value during the study period?
• How has the HVDC transmission systems market evolved over the past four years?
• What are the competition developments and trends in the HVDC transmission systems market?
• What are the prevailing market dynamics in the HVDC transmission systems market?
• What are the key challenges, opportunities, and improvements faced by market players in the global HVDC transmission systems market?
• What are the underlying macro-economic and industry factors impacting the growth of the HVDC transmission systems market?
• How has the competition evolved in the HVDC transmission systems market over the past few years?
• What is the market positioning and what are the key strategies adopted by major manufacturers as per the market taxonomy in the global HVDC transmission systems market?