According to TechSci Research report, “North America HVDC Transmission Market – By Country, Competition, Forecast & Opportunities, 2020-2030F, The North America HVDC Transmission Market was valued at USD 4.61 Billion in 2024 and is expected to reach USD 6.30 Billion by 2030 with a CAGR of 5.34% during the forecast period.
The modernization of aging power transmission infrastructure across the United States and Canada is propelling the demand for high voltage direct current transmission as utilities seek to replace legacy systems with more efficient and reliable alternatives. Much of North America's transmission network was built several decades ago and is not equipped to handle the emerging challenges of a decarbonized and decentralized energy system. High voltage direct current transmission offers advanced features such as dynamic voltage control, real-time flow adjustment, and black-start capability, all of which contribute to a more resilient grid. Moreover, as climate change intensifies the frequency and severity of extreme weather events, utilities are prioritizing system hardening and reliability upgrades. High voltage direct current systems provide better insulation from cascading outages and are more suitable for underground installation, which makes them less vulnerable to storms, wildfires, and other natural disruptions.
Modern grid infrastructure must also support a more flexible and bi-directional power flow pattern, especially with the increasing adoption of distributed energy resources such as rooftop solar and community-scale wind. High voltage direct current transmission enables this flexibility by offering fast, controllable, and reversible power transfer between different grid zones. Several North American utilities are now incorporating high voltage direct current systems into their resilience planning, often in conjunction with energy storage and smart grid technologies. These investments are supported by federal programs such as the United States Department of Energy’s Grid Deployment Office and Canada's Smart Grid Program. By facilitating decarbonization, reducing congestion, and enhancing reliability, high voltage direct current transmission is central to the continent's grid modernization agenda. The shift from reactive infrastructure maintenance to proactive, strategic grid upgrades is creating sustained demand for high voltage direct current technologies across North America.
Cross-border energy trade between the United States and Canada is emerging as a key trend driving the expansion of high voltage direct current interconnections in North America. These bi-national transmission links are being designed to optimize regional generation resources, balance demand fluctuations, and enhance grid stability through more efficient energy exchange. High voltage direct current systems are uniquely suited for this role due to their capability to connect asynchronous grids, allowing for controlled power flow without requiring frequency synchronization. Canadian provinces, particularly Quebec and Manitoba, which possess substantial hydroelectric capacity, are exporting surplus electricity to northeastern and midwestern United States markets through high voltage direct current lines.
Similarly, the Western Interconnection is witnessing increased interest in cross-border high voltage direct current projects aimed at supporting renewable integration and emergency power sharing. These developments reflect growing recognition among regulators and utilities that energy security and decarbonization objectives can be more effectively achieved through regional cooperation rather than siloed infrastructure planning. New trade agreements and climate cooperation frameworks are facilitating such initiatives, while innovations in converter station technologies and grid interoperability tools are reducing technical barriers. As economic and environmental imperatives drive the search for low-cost, low-emission energy solutions, high voltage direct current interconnections are poised to become a foundational element of North America’s integrated energy landscape.
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Based on Application, In the North America HVDC Transmission Market, the mixed application segment is currently the fastest growing and is expected to maintain this momentum over the forecast period. This segment combines multiple transmission methods, including subsea, underground, and overhead systems, to create highly flexible and efficient power transmission networks. The adoption of mixed applications addresses various geographic and environmental challenges, allowing for optimized routing of power lines while minimizing disruption to landscapes and urban areas.
The mixed segment's growth is driven by increasing demand for resilient and adaptable transmission infrastructure capable of integrating diverse energy sources, particularly renewable energy. For example, offshore wind farms require subsea cables to connect to onshore grids, while underground and overhead lines are used to efficiently distribute this power inland. The ability to blend these methods in a single network enables utilities to overcome limitations inherent in each individual approach, such as environmental constraints, regulatory hurdles, and cost considerations.
Advancements in technology have enhanced the compatibility and reliability of mixed transmission systems, encouraging wider adoption. The rising focus on grid modernization and cross-border electricity trade in North America further supports the deployment of mixed HVDC applications. As power demand grows and renewable integration expands, the mixed application segment will continue to drive substantial growth, reflecting the evolving needs for flexible, sustainable, and efficient power transmission solutions.
Based on country, Mexico is rapidly becoming the fastest-growing country in the North America HVDC Transmission market due to substantial investments in upgrading its power infrastructure. The government’s focus on modernizing the electrical grid to accommodate increasing electricity demand is driving the expansion of HVDC projects. Mexico’s rich renewable energy resources, including wind and solar power, are being harnessed more effectively through HVDC technology, which allows for efficient long-distance transmission with minimal losses.
Mexico’s strategic geographic position facilitates cross-border electricity trade with the United States and Canada, boosting market growth further. These factors combined position Mexico as a key emerging player in the North America HVDC Transmission market, with significant growth anticipated in the coming years.
Key market players in the North America HVDC Transmission market are: -
Hitachi Energy Ltd.
Siemens Energy AG
General Electric Company
ABB Ltd.
NR Electric Co., Ltd.
Prysmian S.p.A.
Nexans S.A.
Mitsubishi Electric Corporation
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“The North America HVDC Transmission Market is poised for significant growth driven by increasing demand for efficient long-distance electricity transmission, integration of renewable energy sources, and grid modernization initiatives. Advancements in HVDC technology are enabling higher capacity and more reliable power transfer with lower losses. Cross-border power trade between the United States and Canada further fuels market expansion.
Government policies promoting clean energy and investments in infrastructure upgrades support this trend. As utilities seek to enhance grid stability and meet growing electricity demand sustainably, the adoption of HVDC systems will accelerate, ensuring robust market growth throughout the forecast period.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.
“North America HVDC Transmission Market By Type (High-power Rating Projects, Low-power Rating Projects), By Technology (Line Commutated Converter (LCC), Voltage Source Converters (VSC)), By Application (Subsea, Underground, Overhead, Mixed), By Country, Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth potential of North America HVDC Transmission Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America HVDC Transmission Market.
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