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HVDC Transmission Market Size, Share & Trends Analysis Report By Technology (Line Commutated Converter (LCC), Voltage Source Converter (VSC)), By Application (Overhead, Subsea), By Region, And Segment Forecasts, 2026 - 2033

Publisher Grand View Research
Published Dec 17, 2025
Length 120 Pages
SKU # GV20724083

Description

HVDC Transmission Market Summary

The global HVDC transmission market size was estimated at USD 12.69 billion in 2025 and is projected to reach USD 17.60 billion by 2033, growing at a CAGR of 4.2% from 2026 to 2033. An HVDC transmission system operates by converting alternating current to direct current for long-distance, high-capacity transfer, resulting in significantly lower electrical losses, enhanced controllability, and improved grid stability compared to conventional AC networks.

Continued technological progress in converter stations, cable systems, and power electronics, along with the growing adoption of long-distance renewable power transmission, are major factors driving the expansion of the HVDC transmission industry. Rising government support for grid modernization and cross-border interconnection projects aimed at integrating large-scale renewable energy is also strengthening demand across the global market.

The global HVDC transmission system market continues to advance on the back of rising demand for reliable, flexible, and low-loss long-distance power transfer solutions, particularly in regions transitioning away from coal-based power grids. Utilities and governments are increasingly investing in HVDC infrastructure to support decarbonization goals, integrate large-scale renewable energy, and enhance grid stability. The growing adoption of flexible HVDC transmission system market technologies, especially VSC-based solutions capable of supporting dynamic grid operations, plays a critical role in addressing the variability of wind and solar generation. Continuous advancements in converter designs, digital control systems, and multi-terminal configurations further strengthen market momentum globally.

Global HVDC Transmission Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global HVDC Transmission market report based on technology, application, and region:
  • Technology Outlook (Revenue, USD Million, 2021 - 2033)
  • Line Commutated Converter (LCC)
  • Voltage Source Converter (VSC)
  • Application Outlook (Revenue, USD Million, 2021 - 2033)
  • Overhead
  • Subsea
  • Mixed
  • Underground
  • Regional Outlook (Revenue, USD Million, 2021 - 2033)
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Latin America
  • Brazil
  • Middle East & Africa
  • Saudi Arabia
  • UAE
Please note The report will be delivered in 4-8 business days upon order notification.

Table of Contents

120 Pages
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Market Formulation & Data Visualization
1.3.3. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.4.1. Standards & Compliance
3.4.2. Regulatory Impact Analysis
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Market Opportunities
3.5.4. Market Challenges
3.6. Porter’s Five Forces Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of Substitution
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTLE Analysis
3.7.1. Political
3.7.2. Economic
3.7.3. Social Landscape
3.7.4. Technology
3.7.5. Environmental
3.7.6. Legal
Chapter 4. HVDC Transmission Market: Technology Estimates & Trend Analysis
4.1. HVDC Transmission Market: Technology Movement Analysis, 2025 & 2033
4.2. Line Commutated Converter (LCC)
4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
4.3. Voltage Source Converter (VSC)
4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 5. HVDC Transmission Market: Application Estimates & Trend Analysis
5.1. HVDC Transmission Market: Application Movement Analysis, 2025 & 2033
5.2. Overhead
5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
5.3. Subsea
5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
5.4. Mixed
5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
5.5. Underground
5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 6. HVDC Transmission Market: Regional Estimates & Trend Analysis
6.1. Regional Analysis, 2025 & 2033
6.2. North America
6.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.2.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.2.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.2.4. U.S.
6.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.2.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.2.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.2.5. Canada
6.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.2.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.2.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.2.6. Mexico
6.2.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.2.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.2.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.3.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.3.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.3.4. Germany
6.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.3.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.3.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.3.5. UK
6.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.3.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.3.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.3.6. France
6.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.3.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.3.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.4.4. China
6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.4.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.4.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.4.5. India
6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.4.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.4.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.4.6. Japan
6.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.4.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.4.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.4.7. South Korea
6.4.7.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.4.7.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.4.7.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.5. Latin America
6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.5.4. Brazil
6.5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.5.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.5.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.6.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.6.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.6.4. Saudi Arabia
6.6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.6.4.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.6.4.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
6.6.5. UAE
6.6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
6.6.5.2. Market estimates and forecasts, by technology, 2021 - 2033 (USD Million)
6.6.5.3. Market estimates and forecasts, by application, 2021 - 2033 (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments By Key Market Participants
7.2. Company Categorization
7.3. List of Key Component Suppliers & Channel Partners
7.4. Company Market Share & Positioning Analysis, 2025
7.5. Heat Map Analysis
7.6. Vendor Landscape
7.6.1. List of Raw Material Suppliers
7.6.2. List of Distributors/Traders
7.6.3. List of Other Prominent Manufacturers
7.7. List of Prospective End Users
7.8. Strategy Mapping
7.9. Company Profiles/Listing
7.9.1. Hitachi Energy
7.9.1.1. Company Overview
7.9.1.2. Financial Performance
7.9.1.3. Product Benchmarking
7.9.2. Siemens Energy AG
7.9.2.1. Company Overview
7.9.2.2. Financial Performance
7.9.2.3. Product Benchmarking
7.9.3. General Electric Company (GE Grid Solutions)
7.9.3.1. Company Overview
7.9.3.2. Financial Performance
7.9.3.3. Product Benchmarking
7.9.4. Mitsubishi Electric Corporation
7.9.4.1. Company Overview
7.9.4.2. Financial Performance
7.9.4.3. Product Benchmarking
7.9.5. Toshiba Corporation
7.9.5.1. Company Overview
7.9.5.2. Financial Performance
7.9.5.3. Product Benchmarking
7.9.6. NR Electric Co., Ltd.
7.9.6.1. Company Overview
7.9.6.2. Financial Performance
7.9.6.3. Product Benchmarking
7.9.7. Nexans SA
7.9.7.1. Company Overview
7.9.7.2. Financial Performance
7.9.7.3. Product Benchmarking
7.9.8. Prysmian Group
7.9.8.1. Company Overview
7.9.8.2. Financial Performance
7.9.8.3. Product Benchmarking
7.9.9. LS Electric Co., Ltd.
7.9.9.1. Company Overview
7.9.9.2. Financial Performance
7.9.9.3. Product Benchmarking
7.9.10. American Superconductor Corporation (AMSC)
7.9.10.1. Company Overview
7.9.10.2. Financial Performance
7.9.10.3. Product Benchmarking

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