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High Voltage Direct Current Power Supply Market Share

Report ID: GMI9948
Published Date: Jun 2024
Report Format: PDF

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High Voltage Direct Current Power Supply Market Share

ABB Ltd. and Siemens AG hold a significant share of over 30% in the high voltage direct current power supply market. The market for HVDC power supplies is dominated by ABB Ltd. owing to its extensive experience and position as a leader in power distribution and transmission technologies. HVDC technologies from ABB are well known for their dependability, effectiveness, and capacity to transfer significant amounts of power across great distances with little loss. The organization has led the way in the development of Line Commutated Converter (LCC) and Voltage Source Converter (VSC) technologies, serving a wide range of uses from improving grid stability and dependability to linking renewable energy sources. Due to its global reach and diverse project portfolio, ABB has demonstrated its capacity to deliver complex and large-scale HVDC projects. Notable HVDC installations include the North Sea Link, which connects Norway and the UK.
Another significant competitor in the HVDC power supply industry is Siemens AG, which has a strong market share owing to its broad range of HVDC solutions and knowledge of power transmission technology. High efficiency, dependability, and sophisticated grid control capabilities define Siemens' HVDC systems, which make them perfect for incorporating renewable energy sources and boosting grid stability. With projects such as the Rio Madeira HVDC link in Brazil and the DolWin3 offshore wind connection in Germany, Siemens has a proven track record of completing cutting-edge HVDC projects all around the world. The company can handle a wide range of customer needs and operational issues across different locations and industries owing to its technological superiority in both LCC and VSC-based HVDC systems.

High Voltage Direct Current Power Supply Market Companies

Major players operating in the industry are:

ABB Ltd.
Siemens AG
General Electric (GE)
Hitachi Energy (formerly Hitachi ABB Power Grids)
Toshiba Corporation
Mitsubishi Electric Corporation

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industry size for high voltage direct current power supply was worth USD 3.91 billion in 2023 and will grow at an 8.2% CAGR between 2024 and 2032 due to increasing demand for efficient long-distance power transmission, rising renewable energy integration, and grid stability needs.

High voltage direct current power supply industry from the subsea segment will record 10% CAGR through 2032, driven by the increasing need for efficient offshore wind power integration and intercontinental power transfer.

Asia Pacific industry registered 30% share in 2023, attributed to the growing energy demand, coupled with increasing renewable energy projects, rapid urbanization, industrialization, and significant investments in power infrastructure.

Key players operating in the industry are ABB Ltd., Siemens AG, General Electric (GE), Hitachi Energy (formerly Hitachi ABB Power Grids), Toshiba Corporation, and Mitsubishi Electric Corporation, are among others.