North America High Voltage Direct Current (HVDC) Transmission Market By Component (Converter Stations, Transmission Cables, Control and Protection, Reactive Power Supplies, Electrodes), Project Type (Point-To-Point Transmission, Back-To-Back Stations, and Multi-terminal System), Technology (Line Commutated Converter, Voltage Source Converter, and Capacitor Commutated Converter), Application (Bulk Power Transmission, Interconnecting Grids, and In-feed Urban Areas), Power Rating (1001-1500 MW, 1501-2000 MW, Above 2001 MW, 501-1000 MW, and Below 500 MW), Voltage Rating (350-640 kV, 640-800 kV, Less Than 350 kV, and More Than 800 kV)– Industry Trends and Forecast to 2032

High Voltage Direct Current (HVDC) Transmission Market Size

• The North America High Voltage Direct Current (HVDC) Transmission Market size was valued at USD 3.38 billion in 2024 and is expected to reach USD 5.30 billion by 2032, at a CAGR of 5.9% during the forecast period
• This growth is driven by the rapid adoption of efficient long-distance power transmission, increasing integration of renewable energy sources, and the north america need for enhanced grid stability and interconnectivity across national and regional power grids. The surge in grid modernization and expansion projects further accelerates market expansion.
• Advancements in HVDC technologies, including the shift to Voltage Source Converters (VSC) for superior control and flexibility, coupled with government initiatives promoting clean energy and investments in cross-border interconnections, are propelling market growth, particularly in regions with robust renewable energy development and large geographical areas requiring bulk power transfer.

All the data and information involved in this North America High Voltage Direct Current (HVDC) Transmission report has been represented very well in the form of graphs, charts, or tables for the better understanding of users. To perform competitive analysis, a range of strategies of the major players in the market have been believed to include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others, which lead to an increase of their footprints in the market. What is more, large sample sizes have been exploited for the assortment of data in this North America High Voltage Direct Current (HVDC) Transmission This market report makes use of the most modern tools and techniques for researching, analyzing, and collecting data and information.

The wide-ranging data and information given in the North America High Voltage Direct Current (HVDC) Transmission report can be used by North America High Voltage Direct Current (HVDC) Transmission Market industry to get acquainted with the present and upcoming opportunities and shed light on the future investment in the market. The North America High Voltage Direct Current (HVDC) Transmission report contains historic data, present and future market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry. Market segmentation has also been carried out in detail based on various parameters that include applications, verticals, deployment model, end user, and geography. The prerequisites of North America High Voltage Direct Current (HVDC) Transmission Market industry have been understood at the fullest to endow them with the premium market research report.

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North America High Voltage Direct Current (HVDC) Transmission Market Review

Segments

- By Technology: LCC (Line Commutated Converter) HVDC, VSC (Voltage Source Converter) HVDC
- By Connector Type: Point-to-Point, Back-to-Back, Multi-Terminal
- By Power Rating: Below 500 MW, 501-1000 MW, 1001-2000 MW, Above 2000 MW
- By Application: Underground Power Transmission, Asynchronous Grid Interconnection, Offshore Power Transmission

The North America High Voltage Direct Current (HVDC) transmission market is segmented based on technology, connector type, power rating, and application. In terms of technology, the market is divided into Line Commutated Converter (LCC) HVDC and Voltage Source Converter (VSC) HVDC. The connector type segment includes Point-to-Point, Back-to-Back, and Multi-Terminal configurations. Power rating segments consist of Below 500 MW, 501-1000 MW, 1001-2000 MW, and Above 2000 MW categories. Lastly, the application segment covers Underground Power Transmission, Asynchronous Grid Interconnection, and Offshore Power Transmission.

Market Players

- ABB
- Siemens AG
- General Electric
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Hyundai Electric & Energy Systems Co. Ltd.
- Hitachi ABB Power Grids
- C-EPRI Electric Power Engineering Co., Ltd.
- NR Electric Co., Ltd.
- Prysmian Group

Key market players in the North America HVDC transmission market include ABB, Siemens AG, General Electric, Toshiba Corporation, Mitsubishi Electric Corporation, Hyundai Electric & Energy Systems Co. Ltd., Hitachi ABB Power Grids, C-EPRI Electric Power Engineering Co., Ltd., NR Electric Co., Ltd., and Prysmian Group. These companies are actively involved in product development, strategic partnerships, and geographical expansions to enhance their market presence and cater to the growing demand for HVDC transmission systems in the region.

The North America High Voltage Direct Current (HVDC) transmission market is expected to witness significant growth in the coming years driven by factors such as the increasing demand for efficient and reliable power transmission systems, the integration of renewable energy sources into the grid, and the need for grid modernization to enhance energy security and reliability. With the push towards decarbonization and the shift towards a more sustainable energy mix, the adoption of HVDC transmission technology is expected to play a crucial role in enabling the efficient and cost-effective transmission of electricity over long distances.

One of the key trends shaping the North America HVDC transmission market is the increasing focus on grid interconnections and cross-border transmission projects. As countries look to enhance energy cooperation, improve grid stability, and access diverse energy sources, the demand for HVDC transmission systems that can facilitate seamless power exchange between regions is expected to rise. This trend is particularly evident in regions like the United States and Canada, where cross-border transmission projects are being developed to support the integration of renewable energy and enhance grid resilience.

Another significant trend in the North America HVDC transmission market is the growing adoption of VSC (Voltage Source Converter) HVDC technology. VSC-based HVDC systems offer several advantages over traditional LCC (Line Commutated Converter) HVDC systems, including better controllability, higher efficiency, and reduced environmental impact. As a result, utilities and grid operators in North America are increasingly opting for VSC-based HVDC solutions to overcome grid constraints, improve system flexibility, and support the integration of renewable energy sources.

In terms of applications, the underground power transmission segment is expected to witness substantial growth in the North America HVDC transmission market. Underground transmission systems offer various advantages, such as reduced visual impact, lower environmental footprint, and enhanced system security. With the increasing focus on grid reliability and resilience, utilities are investing in underground HVDC transmission projects to strengthen their power infrastructure and mitigate the risks associated with overhead lines.

Overall, the North America HVDC transmission market presents lucrative opportunities for market players to capitalize on the growing demand for advanced transmission technologies in the region. By investing in research and development, forging strategic partnerships, and expanding their product portfolios, companies can position themselves to address the evolving needs of the market and drive innovation in the HVDC transmission sector. As the energy transition gathers momentum and the push towards a more interconnected and sustainable grid accelerates, the adoption of HVDC transmission technology is expected to play a pivotal role in shaping the future of power transmission in North America.The North America HVDC transmission market is witnessing significant growth driven by various factors, including the increasing demand for efficient power transmission systems, integration of renewable energy sources, and grid modernization initiatives. Market players such as ABB, Siemens, and General Electric are actively involved in product innovation and strategic alliances to leverage the growing market opportunities. The shift towards decarbonization and sustainable energy sources is shaping the adoption of HVDC technology, enabling cost-effective and efficient long-distance electricity transmission.

A key trend in the North America HVDC market is the focus on grid interconnections and cross-border transmission projects. Countries are seeking to enhance energy cooperation, improve grid stability, and access diverse energy resources, driving the demand for HVDC systems to facilitate seamless power exchange between regions. This trend is evident in the development of cross-border transmission projects in the United States and Canada to support renewable energy integration and enhance grid resilience.

The adoption of VSC HVDC technology is another significant trend in the North America market. VSC-based systems offer advantages such as better controllability, higher efficiency, and reduced environmental impact compared to traditional LCC HVDC systems. Utilities and grid operators are increasingly choosing VSC-based solutions to address grid constraints, enhance system flexibility, and support renewable energy integration efforts.

In the application segment, underground power transmission is expected to experience substantial growth in the North America HVDC market. Underground systems offer benefits like reduced visual impact, lower environmental footprint, and enhanced system security. With a focus on grid reliability and resilience, utilities are investing in underground HVDC projects to strengthen power infrastructure and mitigate risks associated with overhead lines.

Overall, the North America HVDC transmission market presents lucrative opportunities for market players to meet the evolving needs of the region's power sector. By investing in R&D, forming strategic partnerships, and expanding product offerings, companies can drive innovation and address the increasing demand for advanced transmission technologies. As North America progresses towards a more interconnected and sustainable grid, HVDC transmission technology is poised to play a pivotal role in shaping the future of power transmission in the region.

Uncover the company’s portion of market ownership
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Structured Market Research Questions for North America High Voltage Direct Current (HVDC) Transmission Market

• What is the present size of the global North America High Voltage Direct Current (HVDC) Transmission industry?
• What annual growth rate is projected for the North America High Voltage Direct Current (HVDC) Transmission sector?
• What are the main segment divisions in the North America High Voltage Direct Current (HVDC) Transmission Market report?
• Who are the established players in the global North America High Voltage Direct Current (HVDC) Transmission Market?
• What geographic areas are explored in the North America High Voltage Direct Current (HVDC) Transmission Market report?
• Who are the leading manufacturers and service providers for North America High Voltage Direct Current (HVDC) Transmission Market?

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