Global Hvdc Converters Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Voltage;

Less Than 500 kV, 500-800 kV, 800-1000 kV, and More Than 1000 kV.

By Power Rating;

Less Than 3,000 MW, 3,000-6,000 MW, 6, 000-10,000 MW, and More than 10,000 MW.

By Configuration;

Monopolar, Bipolar, Back to Back, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn191636190 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Hvdc Converters Market (USD Million), 2021 - 2031

In the year 2024, the Global Hvdc Converters Market was valued at USD 638,736.30 million. The size of this market is expected to increase to USD 1,443,221.98 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 12.4%.

The Global Hvdc Converters Market facilitates the efficient transmission of high-voltage direct current (HVDC) electricity over long distances, connecting power grids and enabling energy transfer between regions. This market segment plays a crucial role in enhancing grid stability, reducing transmission losses, and integrating renewable energy sources into existing power systems. The demand for HVDC converters is driven by the growing need for reliable and cost-effective electricity transmission solutions in various sectors worldwide.

HVDC converters are essential components of HVDC transmission systems, converting alternating current (AC) into direct current (DC) and vice versa for efficient power transmission. They are deployed in a range of applications, including long-distance power transmission, interconnection of asynchronous power systems, and integration of offshore wind farms and remote power generation facilities. As the global demand for electricity continues to rise and the need for sustainable energy solutions intensifies, the HVDC converters market is poised for significant growth and innovation.

Key market participants include established manufacturers, technology providers, and engineering firms specializing in HVDC converter design, manufacturing, installation, and maintenance. With ongoing advancements in power electronics, grid integration, and renewable energy technologies, the HVDC converters market presents lucrative opportunities for industry stakeholders to capitalize on the growing demand for efficient and sustainable electricity transmission solutions worldwide.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Voltage
    2. Market Snapshot, By Power Rating
    3. Market Snapshot, By Configuration
    4. Market Snapshot, By Region
  4. Global Hvdc Converters Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing demand for long-distance power transmission
        2. Growing renewable energy integration
        3. Grid modernization initiatives
        4. Cross-border transmission projects
        5. Rising urban and industrial electricity demand
      2. Restraints
        1. Limited skilled workforce
        2. Project delays and overruns
        3. Equipment failure risks
        4. Land acquisition issues
        5. Compatibility with AC grids
      3. Opportunities
        1. Renewable capacity expansion
        2. Energy transition focus
        3. Infrastructure investment
        4. Digitalization and smart grids
        5. Electrification demand growth
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Hvdc Converters Market, By Voltage, 2021 - 2031 (USD Million)
      1. Less than 500 kV
      2. 500-800 kV
      3. 800-1000 kV
      4. More than 1000 kV
    2. Global Hvdc Converters Market, By Power Rating, 2021 - 2031 (USD Million)
      1. Less than 3,000 MW
      2. 3,000-6,000 MW
      3. 6,000-10,000 MW
      4. More than 10,000 MW
    3. Global Hvdc Converters Market, By Configuration, 2021 - 2031 (USD Million)
      1. Monopolar
      2. Bipolar
      3. Back to Back
      4. Others
    4. Global Hvdc Converters Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. ABB Ltd.
      2. Siemens AG
      3. General Electric Company
      4. Toshiba Corporation
      5. Hitachi, Ltd.
      6. Mitsubishi Electric Corporation
      7. Schneider Electric SE
      8. Prysmian Group
      9. Nexans SA
      10. Crompton Greaves Ltd.
      11. Alstom SA
      12. LS Electric Co., Ltd.
      13. Bharat Heavy Electricals Limited (BHEL)
      14. AMSC (American Superconductor Corporation)
      15. NR Electric Co., Ltd.
  7. Analyst Views
  8. Future Outlook of the Market