出版：MarketsandMarkets（マーケッツアンドマーケッツ） 出版年月：2023年10月
HVDC Transmission Market – Global Forecast to 2028
高圧直流送電市場 : コンポーネント (変換局、伝送ケーブル)、テクノロジー (CCC、VSC、LCC、HVDC、UHVDC)、プロジェクトタイプ (ポイントツーポイント、バックツーバック、マルチターミナル)、用途、地域別 – 2028年までの世界予測
HVDC Transmission Market by Component (Converter Stations, Transmission Cables), Technology (CCC, VSC, LCC, HVDC, UHVDC), Project Type (point-to-point, back-to-back, multi-terminal), Application, Region – Global Forecast to 2028
| ページ数 | 233 |
| 図表数 | 228 |
| 種別 | 英文調査報告書 |
| 価格 |
Report Overview
The HVDC transmission market is projected to reach USD 14.9 billion by 2028 from USD 11.4 billion in 2023, at a CAGR of 5.4% during the 2023–2028 period. The increasing number of VSC-based HVDC projects, the growing number of renewable energy projects globally, surging demand for reliable power supplies, and supportive government initiatives for power transmission are the major factors driving the market growth globally. Furthermore, an increasing number of technological advancements related to HVDC transmission and the growing need for integration of power grids are expected to provide ample growth opportunities for market players.
“Infeed urban areas application to register the highest CAGR in the HVDC transmission market during the forecast period.”
HVDC transmission is highly suitable for transmitting electricity into densely populated urban areas where overhead transmission lines could cause significant obstructions. Despite being more expensive, underground transmission lines are extensively preferred in urban areas where it is difficult to have overhead transmission cables. Furthermore, in recent areas, underground cables have been used in various urban infrastructure development projects for aesthetic appeal. The growing number of urban development projects globally is expected to provide growth opportunities for market players in the HVDC transmission market.
“Multi-terminal systems to register the highest CAGR during the forecast period.”
Multi-terminal systems are extensively used for connecting non-synchronous power systems and provide superior flexibility in electricity exchange between 2 or 3 converter stations. Multi-terminal systems are cost-effective and are highly suitable for transmitting power over longer distances. VSC-based technology is extensively used in multi-terminal HVDC systems as it consists of 2-level or multilevel converters that enable power reversal. The increasing need for integration of power grids is a major factor driving the market growth for multi-terminal systems.
“Europe is expected to account for the second-largest market share during the forecast period.”
Significantly growing use of renewable energy and the subsequent increase in renewable energy projects in the region are the major factors driving the market growth in Europe. Furthermore, the growing number of HVDC projects being commissioned in countries such as the UK is expected to provide growth opportunities for market players. Moreover, the presence of established market players such as Siemens Energy (Germany) and Prysmian Group (Italy) is also expected to propel the market growth in the region.
The break-up of the profile of primary participants in the HVDC transmission market-
• By Company Type: Tier 1 – 30%, Tier 2 – 50%, Tier 3 – 20%
• By Designation Type: C Level – 25%, Director Level – 35%, Others – 40%
• By Region Type: Americas – 35%, Europe – 30%, Asia Pacific – 25%, Rest of the World (RoW) – 10%
The major players in the HVDC transmission market are Hitachi (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), General Electric (US), and Prysmian Group (Italy), among others. These companies focus on strategies such as collaborations, partnerships, acquisitions, and joint ventures to strengthen their position in the HVDC transmission market.
Research Coverage
The report segments the HVDC transmission market and forecasts its size based on component, project type, technology, application, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall HVDC transmission market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing demand for VSC technology, shift towards renewable energy, increasing demand for renewable power supplies, supportive government policies and initiatives for HVDC transmission), restraints (high initial investment, reduced demand due to distributed and off-grid power generation, high cost of circuit breakers), opportunities (technological advancements, electrification of transportation, growing need for integrated networks), and challenges (lack of standardization and interoperability, and stringent regulatory environment) influencing the growth of the HVDC transmission market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and deals in the HVDC transmission market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the HVDC transmission market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the HVDC transmission market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players such as Hitachi (Japan), Siemens Energy (Germany), Mitsubishi Electric Corporation (Japan), General Electric (US), and Prysmian Group (Italy).
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 30
1.2.1 INCLUSIONS AND EXCLUSIONS, BY COMPANY 31
1.2.2 INCLUSIONS AND EXCLUSIONS, BY COMPONENT 31
1.2.3 INCLUSIONS AND EXCLUSIONS, BY PROJECT TYPE 31
1.2.4 INCLUSIONS AND EXCLUSIONS, BY TECHNOLOGY 31
1.2.5 INCLUSIONS AND EXCLUSIONS, BY APPLICATION LEVEL 31
1.2.6 INCLUSIONS AND EXCLUSIONS, BY REGION 32
1.3 STUDY SCOPE 32
FIGURE 1 HVDC TRANSMISSION MARKET SEGMENTATION 32
1.4 CURRENCY CONSIDERED 34
1.5 UNITS CONSIDERED 34
1.6 LIMITATIONS 34
1.7 STAKEHOLDERS 34
1.8 SUMMARY OF CHANGES 35
1.9 IMPACT OF RECESSION 35
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH APPROACH 36
FIGURE 2 HVDC TRANSMISSION MARKET: RESEARCH DESIGN 36
2.1.1 SECONDARY DATA 37
2.1.1.1 Major secondary sources 37
2.1.1.2 Key data from secondary sources 38
2.1.2 PRIMARY DATA 38
2.1.2.1 Primary interviews with experts 38
2.1.2.2 List of key primary interview participants 38
2.1.2.3 Breakdown of primaries 39
2.1.2.4 Key data from primary sources 39
2.1.3 SECONDARY AND PRIMARY RESEARCH 40
2.1.3.1 Key industry insights 41
2.2 MARKET SIZE ESTIMATION 41
2.2.1 BOTTOM-UP APPROACH 41
2.2.1.1 Approach to capture market share by bottom-up analysis 41
FIGURE 3 BOTTOM-UP APPROACH 42
2.2.2 TOP-DOWN APPROACH 42
2.2.2.1 Approach to capture market share by top-down analysis 42
FIGURE 4 TOP-DOWN APPROACH 43
2.3 FACTOR ANALYSIS 43
2.3.1 DEMAND-SIDE ANALYSIS 43
FIGURE 5 MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS 43
2.3.2 SUPPLY-SIDE ANALYSIS 44
FIGURE 6 MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS 44
2.3.3 GROWTH FORECAST ASSUMPTIONS 45
TABLE 1 MARKET GROWTH ASSUMPTIONS 45
2.4 APPROACH TO UNDERSTAND RECESSION IMPACT ON HVDC TRANSMISSION MARKET 45
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION 46
FIGURE 7 DATA TRIANGULATION 46
2.6 RESEARCH ASSUMPTIONS 47
2.7 RISK ASSESSMENT 47
TABLE 2 HVDC TRANSMISSION MARKET: RISK ASSESSMENT 47
3 EXECUTIVE SUMMARY 48
FIGURE 8 HVDC TRANSMISSION MARKET, 2019–2028 49
FIGURE 9 CONVERTER STATIONS SEGMENT TO DOMINATE HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 49
FIGURE 10 POINT-TO-POINT SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING FORECAST PERIOD 50
FIGURE 11 LCC-BASED SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 50
FIGURE 12 BULK POWER TRANSMISSION SEGMENT TO COMMAND LARGEST SHARE OF HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 51
FIGURE 13 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 52
4 PREMIUM INSIGHTS 53
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HVDC TRANSMISSION MARKET 53
FIGURE 14 INCREASING DEMAND FOR VOLTAGE SOURCE CONVERTER (VSC)-BASED TRANSMISSION TO DRIVE MARKET 53
4.2 HVDC TRANSMISSION MARKET, BY COMPONENT 53
FIGURE 15 CONVERTER STATIONS SEGMENT TO DOMINATE HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 53
4.3 HVDC TRANSMISSION MARKET, BY TECHNOLOGY 54
FIGURE 16 LCC-BASED SEGMENT TO CAPTURE LARGEST SHARE OF HVDC TRANSMISSION MARKET IN 2028 54
4.4 HVDC TRANSMISSION MARKET, BY PROJECT TYPE 54
FIGURE 17 POINT-TO-POINT SEGMENT TO CAPTURE LARGEST SHARE OF HVDC TRANSMISSION MARKET IN 2023 54
4.5 HVDC TRANSMISSION MARKET, BY APPLICATION 55
FIGURE 18 BULK POWER TRANSMISSION TO LEAD HVDC TRANSMISSION MARKET FROM 2023 TO 2028 55
4.6 AMERICAS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE AND COUNTRY, 2022 55
FIGURE 19 POINT-TO-POINT AND US HELD LARGEST SHARES OF HVDC TRANSMISSION MARKET IN AMERICAS IN 2022 55
5 MARKET OVERVIEW 56
5.1 INTRODUCTION 56
5.2 MARKET DYNAMICS 56
FIGURE 20 HVDC TRANSMISSION MARKET: MARKET DYNAMICS 56
5.2.1 DRIVERS 57
5.2.1.1 Integration of VSC technology into HVDC systems 57
5.2.1.2 Rapid transition toward renewable energy 57
5.2.1.3 Strong focus of governments and utilities on grid modernization to improve power reliability 58
FIGURE 21 ELECTRICITY CONSUMPTION, BY REGION, 2020–2023 (TERAWATT-HOUR) 58
5.2.1.4 Government-led policies and initiatives promoting HVDC transmission technology 58
FIGURE 22 IMPACT ANALYSIS OF DRIVERS ON HVDC TRANSMISSION MARKET 59
5.2.2 RESTRAINTS 59
5.2.2.1 High initial investment requirements 59
5.2.2.2 Availability of substitute technologies such as distributed and off-grid power generation systems 60
5.2.2.3 Additional costs associated with circuit breakers 60
FIGURE 23 IMPACT ANALYSIS OF RESTRAINTS ON HVDC TRANSMISSION MARKET 61
5.2.3 OPPORTUNITIES 61
5.2.3.1 Constant advances in power electronics and adoption of digital and automation technologies 61
5.2.3.2 Electrification of transportation sector 62
5.2.3.3 Growing demand for integrated networks across long distances 62
FIGURE 24 IMPACT ANALYSIS OF OPPORTUNITIES ON HVDC TRANSMISSION MARKET 63
5.2.4 CHALLENGES 63
5.2.4.1 Interoperability issues due to lack of standardization 63
5.2.4.2 Stringent regulatory landscape and complexities associated with obtaining permits for HVDC projects 64
FIGURE 25 IMPACT ANALYSIS OF CHALLENGES ON HVDC TRANSMISSION MARKET 64
5.3 VALUE CHAIN ANALYSIS 65
FIGURE 26 HVDC TRANSMISSION MARKET: VALUE CHAIN ANALYSIS 65
TABLE 3 HVDC TRANSMISSION MARKET: ROLE OF KEY PLAYERS IN ECOSYSTEM 66
5.4 ECOSYSTEM MAPPING 67
FIGURE 27 HVDC TRANSMISSION MARKET: ECOSYSTEM 67
5.5 KEY TECHNOLOGY TRENDS 68
5.5.1 RELATED TECHNOLOGIES 68
5.5.1.1 Flexible AC transmission system (FACTS) 68
5.5.1.2 Modular multilevel converters (MMCs) 68
5.5.2 UPCOMING TECHNOLOGIES 68
5.5.2.1 Grid-forming inverters 68
5.5.2.2 Ultra-high voltage AC (UHVAC) 69
5.5.3 ADJACENT TECHNOLOGIES 69
5.5.3.1 Energy storage systems 69
5.5.3.2 Renewable energy integration 69
5.6 PRICING ANALYSIS 70
5.6.1 INDICATIVE PRICING ANALYSIS OF HVDC TRANSMISSION COMPONENTS 70
TABLE 4 INDICATIVE PRICING LEVELS OF HVDC TRANSMISSION SOLUTIONS 70
5.7 PATENT ANALYSIS 71
TABLE 5 PATENTS FILED DURING 2012–2022 71
FIGURE 28 NUMBER OF PATENTS GRANTED FOR HVDC TRANSMISSION 71
FIGURE 29 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS DURING 2012–2022 71
TABLE 6 TOP 20 PATENT OWNERS DURING 2012–2022 72
TABLE 7 KEY PATENTS RELATED TO HVDC TRANSMISSION 73
5.8 PORTER’S FIVE FORCES ANALYSIS 74
FIGURE 30 HVDC TRANSMISSION MARKET: PORTER’S FIVE FORCES ANALYSIS, 2022 74
FIGURE 31 IMPACT OF PORTER’S FIVE FORCES ON HVDC TRANSMISSION MARKET, 2022 75
TABLE 8 HVDC TRANSMISSION MARKET: PORTER’S FIVE FORCES ANALYSIS (2022) 75
5.8.1 THREAT OF NEW ENTRANTS 75
5.8.2 THREAT OF SUBSTITUTES 75
5.8.3 BARGAINING POWER OF SUPPLIERS 76
5.8.4 BARGAINING POWER OF BUYERS 76
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 76
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR HVDC TRANSMISSION 77
TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR HVDC TRANSMISSION MARKET (%) 77
5.9.2 BUYING CRITERIA 77
FIGURE 33 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS OF HVDC TRANSMISSION 77
TABLE 10 KEY BUYING CRITERIA FOR HVDC TRANSMISSION, BY APPLICATION 78
5.10 CASE STUDIES 78
TABLE 11 HVDC SOLUTION POWERS RENEWABLE ENERGY INTEGRATION FROM GERMAN NORTH SEA WIND FARMS 78
TABLE 12 SIEMENS HELPED ALTA LINK TRANSITION TO WIND-BASED ENERGY WITH ADVANCED TECHNOLOGY AND EXPERTISE 79
TABLE 13 HVDC SOLUTIONS EMPOWERED SCOTLAND’S RENEWABLE ENERGY TRANSITION 79
TABLE 14 NKT A/S OFFERED POWER TRANSMISSION SOLUTIONS TO ENSURE RELIABLE ENERGY EXCHANGE BETWEEN DENMARK AND SWEDEN 80
TABLE 15 MITSUBISHI ELECTRIC CORPORATION HELPED SWANSEA NORTH SUBSTATION UPGRADE TO HIGHER VOLTAGE SYSTEM 80
5.11 TRADE DATA 81
TABLE 16 EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8504, 2018–2022 (USD MILLION) 81
FIGURE 34 EXPORT VALUES FOR PRODUCTS COVERED UNDER HS CODE 8504, 2018–2022 81
TABLE 17 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8504, 2018–2022 (USD MILLION) 82
FIGURE 35 IMPORT VALUES FOR PRODUCTS COVERED UNDER HS CODE 8504, 2018–2022 82
5.12 TARIFFS AND REGULATORY LANDSCAPE 83
5.12.1 TARIFFS 83
TABLE 18 MFN TARIFFS FOR HS CODE 8504-COMPLIANT PRODUCTS EXPORTED BY GERMANY 83
5.12.2 STANDARDS 83
5.12.2.1 Europe 83
5.12.2.2 Asia Pacific 84
5.12.2.3 North America 84
5.12.3 REGULATIONS 84
5.12.3.1 North America 84
5.12.3.2 Europe 84
5.12.3.3 Asia Pacific 84
5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 85
FIGURE 36 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PLAYERS IN HVDC TRANSMISSION MARKET 85
5.14 KEY CONFERENCES AND EVENTS, 2022–2023 86
TABLE 19 HVDC TRANSMISSION MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 86
6 HVDC TRANSMISSION MARKET, BY POWER RATING 87
6.1 INTRODUCTION 87
6.2 BELOW 500 MW 87
6.3 501–999 MW 88
6.4 1,000–2,000 MW 88
6.5 ABOVE 2,000 MW 89
7 HVDC TRANSMISSION MARKET, BY COMPONENT 90
7.1 INTRODUCTION 91
TABLE 20 HVDC TRANSMISSION MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 91
FIGURE 37 CONVERTER STATIONS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 91
TABLE 21 HVDC TRANSMISSION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 92
7.2 CONVERTER STATIONS 92
TABLE 22 CONVERTER STATIONS: HVDC TRANSMISSION MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 93
FIGURE 38 CIRCUIT BREAKERS TO DOMINATE CONVERTER STATIONS MARKET DURING FORECAST PERIOD 93
TABLE 23 CONVERTER STATIONS: HVDC TRANSMISSION MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 94
7.2.1 VALVES 94
TABLE 24 VALVES: HVDC TRANSMISSION MARKET, BY TYPE, 2019–2022 (USD MILLION) 94
FIGURE 39 THYRISTORS SEGMENT TO COMMAND LARGER SHARE OF VALVES MARKET DURING FORECAST PERIOD 95
TABLE 25 VALVES: HVDC TRANSMISSION MARKET, BY TYPE, 2023–2028 (USD MILLION) 95
7.2.1.1 Thyristor valves 95
7.2.1.1.1 Increasing adoption of thyristor valves in modern HVDC projects to drive market 95
7.2.1.2 Insulated gate bipolar transistors (IGBTs) 96
7.2.1.2.1 Rising demand for IGBT-based converter stations in long-distance power transmission to boost market growth 96
7.2.2 TRANSFORMERS 96
7.2.2.1 Ability to optimize voltage conversion to induce demand for transformers 96
7.2.3 HARMONIC FILTERS 96
7.2.3.1 AC filter 96
7.2.3.1.1 Increasing adoption of AC filters in electrical systems to mitigate harmonic distortion to drive segmental growth 96
7.2.3.2 DC filter 97
7.2.3.2.1 Increasing emphasis on ensuring high-quality power transmission to fuel adoption of DC filters 97
7.2.4 CIRCUIT BREAKERS 97
7.2.4.1 Rising demand for safety and reliability in electrical systems to accelerate adoption of circuit breakers 97
7.2.5 REACTORS 97
7.2.5.1 Need to optimize power flow and voltage stability within systems to drive adoption of reactors 97
7.2.6 SURGE ARRESTERS 97
7.2.6.1 Increasing adoption of surge arresters to protect HVDC equipment from voltage surges to drive market 97
7.3 TRANSMISSION CABLES 98
7.3.1 RISING DEMAND FOR LONG-DISTANCE POWER TRANSFER TO ACCELERATE ADOPTION OF TRANSMISSION CABLES 98
7.4 OTHERS 98
8 HVDC TRANSMISSION MARKET, BY PROJECT TYPE 99
8.1 INTRODUCTION 100
FIGURE 40 POINT-TO-POINT SEGMENT TO CAPTURE LARGEST SHARE OF HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 100
TABLE 26 HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 100
TABLE 27 HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 101
8.2 POINT-TO-POINT TRANSMISSION 101
8.2.1 INCREASING LONG-DISTANCE ELECTRICITY TRANSFER TO FUEL DEPLOYMENT OF POINT-TO-POINT TRANSMISSION SYSTEMS 101
TABLE 28 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 101
TABLE 29 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 102
TABLE 30 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 102
FIGURE 41 BULK POWER TRANSMISSION SEGMENT TO DOMINATE POINT-TO-POINT HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 102
TABLE 31 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 103
TABLE 32 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY APPLICATION, 2019–2022 (USD MILLION) 103
TABLE 33 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY APPLICATION, 2023–2028 (USD MILLION) 103
TABLE 34 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 103
TABLE 35 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 104
TABLE 36 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2019–2022 (USD MILLION) 104
TABLE 37 POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2023–2028 (USD MILLION) 104
8.2.2 MONOPOLAR TRANSMISSION SYSTEMS 104
8.2.2.1 Economic feasibility of monopolar HVDC transmission systems to drive segmental growth 104
TABLE 38 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR TRANSMISSION SYSTEMS, BY TECHNOLOGY, 2019–2022 (USD MILLION) 105
TABLE 39 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR TRANSMISSION SYSTEMS, BY TECHNOLOGY, 2023–2028 (USD MILLION) 105
TABLE 40 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR TRANSMISSION SYSTEMS, BY APPLICATION, 2019–2022 (USD MILLION) 105
TABLE 41 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR TRANSMISSION SYSTEMS, BY APPLICATION, 2023–2028 (USD MILLION) 106
TABLE 42 MONOPOLAR TRANSMISSION SYSTEMS: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2019–2022 (USD MILLION) 106
TABLE 43 MONOPOLAR TRANSMISSION SYSTEMS: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2023–2028 (USD MILLION) 106
TABLE 44 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR, BY REGION, 2019–2022 (USD MILLION) 106
TABLE 45 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR MONOPOLAR, BY REGION, 2023–2028 (USD MILLION) 107
8.2.3 BIPOLAR TRANSMISSION SYSTEMS 107
8.2.3.1 Increasing focus on improving grid flexibility and resilience to boost demand for bipolar transmission systems 107
TABLE 46 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR TRANSMISSION SYSTEMS, BY TECHNOLOGY, 2019–2022 (USD MILLION) 107
TABLE 47 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR TRANSMISSION SYSTEMS, BY TECHNOLOGY, 2023–2028 (USD MILLION) 107
TABLE 48 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR TRANSMISSION SYSTEMS, BY APPLICATION, 2019–2022 (USD MILLION) 108
TABLE 49 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR TRANSMISSION SYSTEMS, BY APPLICATION, 2023–2028 (USD MILLION) 108
TABLE 50 BIPOLAR TRANSMISSION SYSTEMS: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2019–2022 (USD MILLION) 108
TABLE 51 BIPOLAR TRANSMISSION SYSTEMS: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2023–2028 (USD MILLION) 108
TABLE 52 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR, BY REGION, 2019–2022 (USD MILLION) 109
TABLE 53 POINT-TO-POINT: HVDC TRANSMISSION MARKET FOR BIPOLAR, BY REGION, 2023–2028 (USD MILLION) 109
8.3 BACK-TO-BACK STATIONS 109
8.3.1 ADOPTION OF BACK-TO-BACK STATIONS TO FACILITATE POWER TRANSMISSION BETWEEN CONVERTERS TO DRIVE SEGMENT 109
TABLE 54 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 110
TABLE 55 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 110
TABLE 56 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 110
TABLE 57 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 110
TABLE 58 BACK-TO-BACK: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2019–2022 (USD MILLION) 111
TABLE 59 BACK-TO-BACK: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2023–2028 (USD MILLION) 111
TABLE 60 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 111
TABLE 61 BACK-TO-BACK: HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 111
8.4 MULTI-TERMINAL SYSTEMS 112
8.4.1 INCREASING REQUIREMENT FOR RELIABILITY DURING FORCED OUTAGES TO DRIVE DEMAND FOR MULTI-TERMINAL SYSTEMS 112
TABLE 62 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 112
TABLE 63 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 112
TABLE 64 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 113
FIGURE 42 BULK POWER TRANSMISSION SEGMENT TO LEAD MULTI-TERMINAL HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 113
TABLE 65 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 113
TABLE 66 MULTI-TERMINAL: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2019–2022 (USD MILLION) 114
TABLE 67 MULTI-TERMINAL: HVDC TRANSMISSION MARKET FOR BULK POWER TRANSMISSION, BY APPLICATION, 2023–2028 (USD MILLION) 114
TABLE 68 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 114
TABLE 69 MULTI-TERMINAL: HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 114
9 HVDC TRANSMISSION MARKET, BY TECHNOLOGY 115
9.1 INTRODUCTION 116
FIGURE 43 LCC-BASED SEGMENT TO ACCOUNT FOR LARGEST SHARE OF HVDC TRANSMISSION MARKET FROM 2023 TO 2028 116
TABLE 70 HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 116
TABLE 71 HVDC TRANSMISSION MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 116
9.2 LINE COMMUTATED CONVERTER (LCC) 117
TABLE 72 LCC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 117
FIGURE 44 POINT-TO-POINT PROJECTS TO DOMINATE LCC HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 117
TABLE 73 LCC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 118
TABLE 74 LCC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2019–2022 (USD MILLION) 118
TABLE 75 LCC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2023–2028 (USD MILLION) 118
TABLE 76 LCC: HVDC TRANSMISSION MARKET, BY TYPE, 2019–2022 (USD MILLION) 118
TABLE 77 LCC: HVDC TRANSMISSION MARKET, BY TYPE, 2023–2028 (USD MILLION) 119
9.2.1 LCC HIGH-VOLTAGE DIRECT CURRENT (HVDC) 119
9.2.1.1 Increasing demand for electricity to drive adoption of LCC HVDC systems 119
9.2.2 LCC ULTRA HIGH-VOLTAGE DIRECT CURRENT (UHVDC) 119
9.2.2.1 Increasing electricity trade between various countries to increase demand for LLC UHVDC systems 119
9.3 VOLTAGE SOURCE CONVERTER (VSC) 119
TABLE 78 VSC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 120
FIGURE 45 MULTI-TERMINAL SEGMENT TO REGISTER HIGHEST CAGR IN VSC HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 120
TABLE 79 VSC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 120
TABLE 80 VSC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2019–2022 (USD MILLION) 121
TABLE 81 VSC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2023–2028 (USD MILLION) 121
TABLE 82 VSC: HVDC TRANSMISSION MARKET, BY TYPE, 2019–2022 (USD MILLION) 121
TABLE 83 VSC: HVDC TRANSMISSION MARKET, BY TYPE, 2023–2028 (USD MILLION) 121
9.3.1 VSC HVDC 121
9.3.1.1 Technological advancements in VSC HVDC transmission to create growth opportunities for market players 121
9.3.2 VSC UHVDC 122
9.3.2.1 Increasing number of VSC UHVDC projects to drive market growth 122
9.4 CAPACITOR COMMUTATED CONVERTER (CCC) 122
9.4.1 INCREASING ADOPTION OF CCC TECHNOLOGY FOR BACK-TO-BACK HVDC TRANSMISSION TO DRIVE SEGMENTAL GROWTH 122
TABLE 84 CCC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 122
TABLE 85 CCC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 122
10 HVDC TRANSMISSION MARKET, BY APPLICATION 123
10.1 INTRODUCTION 124
FIGURE 46 BULK POWER TRANSMISSION SEGMENT TO AMASS LARGEST SHARE OF HVDC TRANSMISSION MARKET DURING 2023–2028 124
TABLE 86 HVDC TRANSMISSION MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 124
TABLE 87 HVDC TRANSMISSION MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 124
10.2 BULK POWER TRANSMISSION 125
TABLE 88 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 125
FIGURE 47 POINT-TO-POINT PROJECT TYPE TO DOMINATE BULK POWER HVDC TRANSMISSION MARKET DURING FORECAST PERIOD 125
TABLE 89 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 126
TABLE 90 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2019–2022 (USD MILLION) 126
TABLE 91 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2023–2028 (USD MILLION) 126
TABLE 92 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 126
TABLE 93 BULK POWER TRANSMISSION: HVDC TRANSMISSION MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 127
10.2.1 OVERHEAD 127
10.2.1.1 Focus on minimizing power loss to fuel demand for overhead transmission 127
TABLE 94 OVERHEAD: BULK POWER HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 127
TABLE 95 OVERHEAD: BULK POWER HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 127
10.2.2 UNDERWATER & UNDERGROUND 128
10.2.2.1 Increasing cross-border electricity trade to propel demand for underwater and underground transmission 128
TABLE 96 UNDERWATER & UNDERGROUND: BULK POWER HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 128
TABLE 97 UNDERWATER & UNDERGROUND: BULK POWER HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 128
10.3 INTERCONNECTING GRIDS 128
10.3.1 GROWING INTERCONNECTION OF POWER GRIDS TO CREATE DEMAND FOR HVDC TRANSMISSION 128
TABLE 98 INTERCONNECTING GRIDS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 129
TABLE 99 INTERCONNECTING GRIDS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 129
TABLE 100 INTERCONNECTING GRIDS: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2019–2022 (USD MILLION) 129
TABLE 101 INTERCONNECTING GRIDS: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2023–2028 (USD MILLION) 129
10.4 INFEED URBAN AREAS 130
10.4.1 RISING ELECTRICITY DEMAND FROM DENSELY POPULATED URBAN AREAS TO FUEL REQUIREMENT FOR HVDC TRANSMISSION 130
TABLE 102 INFEED URBAN AREAS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 130
FIGURE 48 POINT-TO-POINT PROJECTS TO LEAD HVDC TRANSMISSION MARKET FOR INFEED URBAN AREAS DURING FORECAST PERIOD 130
TABLE 103 INFEED URBAN AREAS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 131
TABLE 104 INFEED URBAN AREAS: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2019–2022 (USD MILLION) 131
TABLE 105 INFEED URBAN AREAS: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT PROJECTS, BY CONFIGURATION, 2023–2028 (USD MILLION) 131
11 HVDC TRANSMISSION MARKET, BY REGION 132
11.1 INTRODUCTION 133
FIGURE 49 CHINA TO BE FASTEST-GROWING COUNTRY-LEVEL MARKET DURING FORECAST PERIOD 133
TABLE 106 HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 134
TABLE 107 HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 134
11.2 AMERICAS 134
FIGURE 50 AMERICAS: HVDC TRANSMISSION MARKET SNAPSHOT 135
TABLE 108 AMERICAS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 136
TABLE 109 AMERICAS: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION) 136
TABLE 110 AMERICAS: POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2019–2022 (USD MILLION) 136
TABLE 111 AMERICAS: POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2023–2028 (USD MILLION) 136
TABLE 112 AMERICAS: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 137
TABLE 113 AMERICAS: HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 137
11.2.1 AMERICAS: RECESSION IMPACT 137
11.2.2 NORTH AMERICA 138
TABLE 114 NORTH AMERICA: HVDC TRANSMISSION MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 138
TABLE 115 NORTH AMERICA: HVDC TRANSMISSION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 139
11.2.2.1 US 139
11.2.2.1.1 Increasing renewable energy production to boost adoption of HVDC systems 139
11.2.2.2 Canada 140
11.2.2.2.1 Government-led initiatives to enhance power transmission infrastructure to drive market 140
11.2.2.3 Mexico 140
11.2.2.3.1 Government initiatives promoting renewable energy integration to stimulate demand for HVDC transmission 140
11.2.3 SOUTH AMERICA 141
TABLE 116 SOUTH AMERICA: HVDC TRANSMISSION MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 141
TABLE 117 SOUTH AMERICA: HVDC TRANSMISSION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 141
11.2.3.1 Brazil 142
11.2.3.1.1 Government initiatives to modernize grid infrastructure to drive market 142
11.2.3.2 Rest of South America 142
11.3 EUROPE 142
FIGURE 51 EUROPE: HVDC TRANSMISSION MARKET SNAPSHOT 143
TABLE 118 EUROPE: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 144
TABLE 119 EUROPE: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION 144
TABLE 120 EUROPE: POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2019–2022 (USD MILLION) 144
TABLE 121 EUROPE: POINT-TO-POINT: HVDC TRANSMISSION MARKET, BY CONFIGURATION, 2023–2028 (USD MILLION) 144
TABLE 122 EUROPE: HVDC TRANSMISSION MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 145
TABLE 123 EUROPE: HVDC TRANSMISSION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 145
11.3.1 EUROPE: RECESSION IMPACT 145
11.3.2 UK 146
11.3.2.1 Focus on improving transmission and distribution network to foster market growth 146
11.3.3 GERMANY 146
11.3.3.1 Implementation of policies promoting low-carbon future to drive market 146
11.3.4 RUSSIA 147
11.3.4.1 Transition to cleaner energy to support adoption of HVDC technology 147
11.3.5 FRANCE 147
11.3.5.1 Growing focus on decarbonization to drive adoption of HVDC transmission 147
11.3.6 REST OF EUROPE 148
11.4 ASIA PACIFIC 148
FIGURE 52 ASIA PACIFIC: HVDC TRANSMISSION MARKET SNAPSHOT 149
TABLE 124 ASIA PACIFIC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 149
TABLE 125 ASIA PACIFIC: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION 150
TABLE 126 ASIA PACIFIC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY CONFIGURATION, 2019–2022 (USD MILLION) 150
TABLE 127 ASIA PACIFIC: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY CONFIGURATION 2023–2028 (USD MILLION) 150
TABLE 128 ASIA PACIFIC: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 150
TABLE 129 ASIA PACIFIC: HVDC TRANSMISSION MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 151
11.4.1 ASIA PACIFIC: RECESSION IMPACT 151
11.4.2 CHINA 151
11.4.2.1 Substantial investments in ultra-high-voltage (UHV) projects to foster market growth 151
11.4.3 JAPAN 152
11.4.3.1 Surging electricity demand to drive market 152
11.4.4 INDIA 152
11.4.4.1 Government-led initiatives to strengthen energy security to drive market 152
11.4.5 AUSTRALIA 153
11.4.5.1 Strategic investments in modernizing grid infrastructure to drive demand for HVDC transmission 153
11.4.6 REST OF ASIA PACIFIC 153
11.5 REST OF THE WORLD (ROW) 154
TABLE 130 ROW: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2019–2022 (USD MILLION) 154
TABLE 131 ROW: HVDC TRANSMISSION MARKET, BY PROJECT TYPE, 2023–2028 (USD MILLION 154
TABLE 132 ROW: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY CONFIGURATION, 2019–2022 (USD MILLION) 154
TABLE 133 ROW: HVDC TRANSMISSION MARKET FOR POINT-TO-POINT, BY CONFIGURATION, 2023–2028 (USD MILLION) 155
TABLE 134 ROW: HVDC TRANSMISSION MARKET, BY REGION, 2019–2022 (USD MILLION) 155
TABLE 135 ROW: HVDC TRANSMISSION MARKET, BY REGION, 2023–2028 (USD MILLION) 155
11.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT 155
11.5.2 MIDDLE EAST 156
11.5.2.1 Emerging transformative projects in Abu Dabi to drive demand for HVDC technology 156
11.5.3 AFRICA 156
11.5.3.1 Investments in modernization of energy infrastructure to drive market 156
12 COMPETITIVE LANDSCAPE 157
12.1 INTRODUCTION 157
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 157
TABLE 136 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 157
TABLE 137 KEY GROWTH STRATEGIES ADOPTED BY COMPANIES DURING 2019–2022 158
12.2.1 ORGANIC/INORGANIC GROWTH STRATEGIES 158
12.2.2 PRODUCT PORTFOLIO 158
12.2.3 GEOGRAPHIC PRESENCE 158
12.2.4 MANUFACTURING AND DISTRIBUTION FOOTPRINT 159
12.3 MARKET SHARE ANALYSIS, 2022 159
TABLE 138 MARKET SHARE ANALYSIS OF TOP 5 PLAYERS IN HVDC TRANSMISSION MARKET, 2022 159
12.4 REVENUE ANALYSIS, 2018–2022 160
FIGURE 53 REVENUE ANALYSIS OF MAJOR COMPANIES IN HVDC TRANSMISSION MARKET, 2018–2022 (USD BILLION) 160
12.5 EVALUATION MATRIX FOR MAJOR PLAYERS, 2022 161
12.5.1 STARS 161
12.5.2 EMERGING LEADERS 161
12.5.3 PERVASIVE PLAYERS 161
12.5.4 PARTICIPANTS 161
FIGURE 54 HVDC TRANSMISSION MARKET: EVALUATION MATRIX FOR MAJOR PLAYERS, 2022 162
12.6 EVALUATION MATRIX FOR STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES), 2022 163
12.6.1 COMPETITIVE BENCHMARKING 163
TABLE 139 HVDC TRANSMISSION MARKET: DETAILED LIST OF KEY STARTUPS/SMES 163
TABLE 140 STARTUPS/SMES FOOTPRINT, BY COMPONENT 164
TABLE 141 STARTUPS/SMES FOOTPRINT, BY APPLICATION 164
TABLE 142 STARTUPS/SMES FOOTPRINT, BY REGION 165
12.6.2 PROGRESSIVE COMPANIES 165
12.6.3 RESPONSIVE COMPANIES 165
12.6.4 DYNAMIC COMPANIES 165
12.6.5 STARTING BLOCKS 165
FIGURE 55 HVDC TRANSMISSION MARKET: EVALUATION MATRIX
FOR STARTUPS/SMES, 2022 166
12.7 COMPANY FOOTPRINT 167
TABLE 143 OVERALL COMPANY FOOTPRINT 167
TABLE 144 COMPANY COMPONENT FOOTPRINT 168
TABLE 145 COMPANY APPLICATION FOOTPRINT 169
TABLE 146 COMPANY REGION FOOTPRINT 170
12.8 COMPETITIVE SCENARIOS AND TRENDS 171
12.8.1 DEALS 171
TABLE 147 HVDC TRANSMISSION MARKET: DEALS, 2019–2023 171
13 COMPANY PROFILES 179
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 INTRODUCTION 179
13.2 KEY PLAYERS 180
13.2.1 HITACHI, LTD. 180
TABLE 148 HITACHI, LTD.: COMPANY OVERVIEW 180
FIGURE 56 HITACHI, LTD.: COMPANY SNAPSHOT 181
TABLE 149 HITACHI, LTD.: DEALS 183
13.2.2 SIEMENS ENERGY 185
TABLE 150 SIEMENS ENERGY: COMPANY OVERVIEW 185
FIGURE 57 SIEMENS ENERGY: COMPANY SNAPSHOT 186
TABLE 151 SIEMENS ENERGY: DEALS 189
13.2.3 MITSUBISHI ELECTRIC CORPORATION 192
TABLE 152 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 192
FIGURE 58 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 193
TABLE 153 MITSUBISHI ELECTRIC CORPORATION: DEALS 194
13.2.4 GENERAL ELECTRIC 196
TABLE 154 GENERAL ELECTRIC: COMPANY OVERVIEW 196
FIGURE 59 GENERAL ELECTRIC: COMPANY SNAPSHOT 197
TABLE 155 GENERAL ELECTRIC: DEALS 198
13.2.5 PRYSMIAN GROUP 200
TABLE 156 PRYSMIAN GROUP: COMPANY OVERVIEW 200
FIGURE 60 PRYSMIAN GROUP: COMPANY SNAPSHOT 201
TABLE 157 PRYSMIAN GROUP: DEALS 202
13.2.6 TOSHIBA CORPORATION 204
TABLE 158 TOSHIBA CORPORATION: COMPANY OVERVIEW 204
FIGURE 61 TOSHIBA CORPORATION: COMPANY SNAPSHOT 205
TABLE 159 TOSHIBA CORPORATION: DEALS 207
13.2.7 NKT A/S 209
TABLE 160 NKT A/S: COMPANY OVERVIEW 209
FIGURE 62 NKT A/S: COMPANY SNAPSHOT 210
TABLE 161 NKT A/S: DEALS 211
13.2.8 NEXANS 213
TABLE 162 NEXANS: COMPANY OVERVIEW 213
FIGURE 63 NEXANS: COMPANY SNAPSHOT 214
TABLE 163 NEXANS: DEALS 215
13.2.9 LS ELECTRIC CO., LTD. 217
TABLE 164 LS ELECTRIC CO., LTD.: COMPANY OVERVIEW 217
FIGURE 64 LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT 218
13.2.10 NR ELECTRIC CO., LTD. 220
TABLE 165 NR ELECTRIC CO., LTD.: COMPANY OVERVIEW 220
13.3 OTHER PLAYERS 222
13.3.1 SUMITOMO ELECTRIC INDUSTRIES, LTD. 222
13.3.2 ZAPOROZHTRANSFORMATOR 222
13.3.3 ALSTOM GRID (GE GRID SOLUTIONS) 223
13.3.4 TAIHAN 223
13.3.5 AMERICAN SUPERCONDUCTOR 224
13.3.6 ZTT GROUP 224
13.3.7 TBEA CO., LTD. 225
13.3.8 EFACEC 226
13.3.9 SIEYUAN ELECTRIC CO., LTD. 227
13.3.10 XJ ELECTRIC CO., LTD. 228
13.3.11 BAODING TIANWEI BAOBIAN ELECTRIC CO., LTD. 229
13.3.12 CG POWER & INDUSTRIAL SOLUTIONS LTD. 230
13.3.13 SGB SMIT 231
13.3.14 C-EPRI ELECTRIC POWER ENGINEERING CO., LTD. 231
13.3.15 HYOSUNG HEAVY INDUSTRIES 232
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX 233
14.1 INSIGHTS FROM INDUSTRY EXPERTS 233
14.2 DISCUSSION GUIDE 234
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 237
14.4 CUSTOMIZATION OPTIONS 239
14.5 RELATED REPORTS 239
14.6 AUTHOR DETAILS 240