What are the top companies leading in HVDC transmission technology?Posted by Tom C on June 25th, 2024 The HVDC transmission market is estimated to be worth USD 11.4 billion in 2023 and is projected to reach USD 14.9 billion by 2028, at a CAGR of 5.4% during the forecast period. Shift towards renewable energy, increasing demand for VSC-based HVDC transmission projects, and supportive government policies and initiatives are the major factors driving the market growth.
HVDC Transmission companies include:
Hitachi is a leading provider of HVDC transmission solutions. The company's comprehensive product portfolio of HVDC solutions includes switchgear, DC filters, thyristors, and more. Hitachi leverages its extensive experience and expertise in various sectors, such as power systems, information technology, and social infrastructure. The company extensively focuses on inorganic growth strategies such as agreements and partnerships to strengthen its position in the market. Siemens Energy boasts a comprehensive product portfolio of HVDC transmission components that include switchgear, circuit breakers, and transformers, among others. Along with a comprehensive portfolio of products, Siemens Energy also boasts a strong geographic footprint with operations and sales in Germany, the Americas, Asia Pacific, the Middle East, and Africa. The company focuses on investing extensively in research and development activities to develop advanced products. For instance, Siemens Energy invested 3.6%, 4.7%, and 3.7% of its revenue in 2020, 2021, and 2022 respectively, for research and development activities. Furthermore, the company extensively focuses on collaborations to strengthen its position in the market. Like it? Share it! More by this author |