HVDC transmission market seen reaching $20.76 billion by 2030

The high voltage direct current transmission system market is projected to grow from $12.74 billion in 2025 to $20.76 billion by 2030, driven by renewable energy buildout, grid upgrades and rising electricity demand. Europe leads today, while Asia-Pacific is expected to grow fastest through the forecast period. Why it matters: - HVDC systems move power over long distances with lower losses than traditional AC lines. - The market’s growth reflects rising demand for efficient grid infrastructure as electricity use climbs worldwide. - HVDC is becoming more important for connecting offshore wind, remote generation and cross-border power networks. What happened: - The Business Research Company released a 2026 report on the global HVDC transmission system market. - The report projects the market will rise from $12.74 billion in 2025 to $13.99 billion in 2026. - The report forecasts the market will reach $20.76 billion by 2030, implying a 10.4% CAGR. - Europe was the largest regional market in 2025. - Asia-Pacific is expected to be the fastest-growing region during the forecast period. The details: - Historical growth came from offshore wind farms, long-distance bulk power transmission, cross-border energy trade, early use of line-commutated converter HVDC systems and rising urban energy needs. - The forecast period is driven by wider deployment of voltage source converter HVDC systems. - Investment in renewable energy grid networks is a major growth factor. - Multi-terminal HVDC projects are expanding. - Transmission infrastructure modernization is supporting demand. - Market growth is also tied to efforts to reduce transmission losses. - The report says key trends include smarter monitoring systems, more long-haul power applications, more efficient converter technologies and broader use in international grid interconnections. - HVDC systems convert alternating current into direct current and transmit electricity through high-voltage cables. - The systems are used to move electricity from offshore wind farms and other remote locations. - The company also highlighted market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards, market hotspot infographics and updated graphics and tables in its 2026 reports. Between the lines: - Rising power demand is doing more than lifting electricity sales; it is reshaping grid planning around efficiency and distance. - The forecast suggests HVDC is moving from a niche transmission option toward a core tool for renewable integration and cross-border power trade. - The stronger growth outlook in Asia-Pacific likely reflects faster infrastructure buildout and higher electricity demand growth in the region. - The market’s expansion also points to a broader shift away from transmission systems that lose more energy over long routes. What’s next: - More HVDC projects are likely as utilities and grid operators try to connect renewable generation and reduce line losses. - VSC-based systems should gain share as grids need more flexible and multi-terminal designs. - Ongoing transmission modernization is expected to keep supporting the market through 2030. - More international interconnection projects may follow as countries look to balance supply and demand across borders. The bottom line: - HVDC transmission is set to be a major beneficiary of the global shift toward cleaner, more interconnected and more efficient power grids.