North American HVDC Market Primed for Expansion, with Offshore Wind Projects and Statewide Transmission Driving Growth
The HVDC market in North America, accounting for 13% of global capacity, is set for substantial growth, propelled by a surge in offshore wind projects and statewide transmission expansion. The United States, at the forefront of the region, aligns its ambitious carbon-neutral and clean energy goals with a significant demand for HVDC. European manufacturers currently dominate the market, supported by the region's commitment to renewable energy integration, grid modernization, and cross-border power exchange. As HVDC deployment increases in the region, both VSC and LCC technologies are expected to play pivotal roles. Particularly, VSC is gaining traction in offshore wind projects along the eastern coast of the USA.
Report Scope
This report covers the North American market analysis of both HVDC technologies used in the power grid industry which includes Line Commutated Converter (LCC) and Voltage Source Converter (VSC). The report comprises of following components:
- Market Sizing (The market sizing will be based on the scenarios):
- North America's total available market for both LCC and VSC from 2023 to 2030 for HVDC through two lenses i.e., capacity additions (MW) and revenue ($ Million) segmented into key regions.
- USA’s total available market for both LCC and VSC from 2023 to 2030 for HVDC through two lenses i.e., capacity additions (MW) and revenue ($ Million) segmented into key regions.
- Rest of North America’s total available market for both LCC and VSC from 2023 to 2030 for HVDC through two lenses i.e., capacity additions (MW) and revenue ($ Million) segmented into key regions.
- Company Profiles: Information on company profiles of top suppliers, their offered products, and recent developments are included in the report to get a holistic view of the companies.
- Competitive Analysis: Split of OEM’s market share for the last 5 years (2019 to 2023) in the North America market has been reported in this section. These market shares are further segmented into sub-technologies of HVDC (LCC & VSC).
- Key Market Trends: Key technology trends and drivers for market growth are included in this report.
Countries Covered:
- United States of America (USA)
- Rest of North America
Technologies Mentioned:
- Line Commutated Converter (LCC)
- Voltage Source Converter (VSC)
Reasons to Purchase
The report offers a comprehensive overview of the HVDC (both LCC and VSC) market in North America. It includes a demand forecast for HVDC converters and provides key insights into the market trends. Plus, the market shares of the key HVDC converter OEMs in the region are included to capture market competition. This report aims to help executives and decision-makers of HVDC converter OEMs make strategic investments in the North American HVDC market.
Who Should Buy the Report:
- Marketing Manager
- Director of Marketing
- Head of Marketing
- VP of Marketing
- Strategic Marketing Director
- Head of Strategic Marketing
- Head of Market Intelligence
- Manager Business Intelligence
- Strategy Development
- Director, Strategy Development
- Commercial Analyst
- Market Analyst
- Marketing Analyst
- Head of Sales
- Director of Sales
- Sales Manager
Research Methodology
The information contained in the report has been gathered through authentic online sources used for secondary research and the analyst's HVDC market forecast model. It has been verified through interviews with industry professionals conducted as part of primary research.
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Table of Contents
Companies Mentioned
- GE Vernova
- Hitachi Energy
- Siemens Energy
