North America HVDC Transmission Market to grow in 2026-2030F, driven by tech advances, grid upgrades, and renewable energy integration across key investing countries.

According to the TechSci Research report titled “North America HVDC Transmission Market – By Country, Competition, Forecast & Opportunities, 2020-2030F,” the North America HVDC (High Voltage Direct Current) Transmission Market was valued at USD 4.61 billion in 2024 and is projected to reach USD 6.30 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.34% during the forecast period.

This growth is being fueled by the urgent need to modernize aging power transmission infrastructure in the United States and Canada. Much of the existing transmission network was constructed decades ago and is no longer adequate to support the demands of a decarbonizing, decentralized, and digitally enabled energy system. As a result, utility companies across North America are turning to HVDC transmission systems to increase the reliability, efficiency, and resilience of their grids.

HVDC technology offers several advantages over traditional AC (Alternating Current) systems, including lower transmission losses over long distances, dynamic voltage control, and improved fault management. HVDC systems are also capable of operating in challenging environments and can be more easily deployed underground, making them less vulnerable to extreme weather events such as hurricanes, wildfires, and ice storms. With climate change amplifying the frequency and severity of such disruptions, HVDC transmission has become a strategic tool for enhancing grid resilience and mitigating outage risks.

Furthermore, modern HVDC systems support flexible and bidirectional power flows, which is increasingly important as distributed energy resources (DERs) like rooftop solar panels, energy storage, and community wind farms become more widespread. This flexibility is crucial for balancing supply and demand in real time and integrating variable renewable energy into the grid. Utilities are incorporating HVDC technology into long-term resilience and decarbonization strategies, often alongside advanced digital tools, smart grid platforms, and battery storage systems.

Government support and policy initiatives are also playing a pivotal role in accelerating the adoption of HVDC transmission. Programs such as the U.S. Department of Energy’s Grid Deployment Office and Canada’s Smart Grid Program provide financial incentives and strategic guidance for utilities seeking to modernize their systems. These initiatives are part of a broader movement toward proactive infrastructure investment, as opposed to the reactive maintenance that has dominated in past decades.

One of the most significant emerging trends in the North America HVDC Transmission Market is the growth of cross-border transmission projects between the United States and Canada. These international links are being developed to enhance regional energy security, optimize power generation resources, and support the integration of renewables on a continental scale. HVDC systems are ideal for cross-border connections because they can link asynchronous grids without requiring frequency alignment, enabling more controlled and efficient power exchange.

Canadian provinces such as Quebec and Manitoba, which have substantial hydroelectric capacity, are already leveraging HVDC transmission lines to export clean power to high-demand regions in the northeastern and midwestern United States. These exports contribute to grid stability and help U.S. states meet renewable energy targets. Similarly, cross-border projects in the Western Interconnection are gaining traction as a means of sharing renewable generation and emergency backup power across vast territories.

These initiatives are supported by new trade agreements and climate cooperation frameworks that encourage regional collaboration on energy policy and infrastructure. At the same time, advancements in converter station technology and system interoperability are helping to reduce technical barriers and implementation costs. As a result, HVDC transmission is becoming a cornerstone of an integrated and resilient North American energy market.

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Application Insights

Among the various applications of HVDC transmission, the mixed application segment—which includes subsea, underground, and overhead systems—is currently the fastest-growing. This segment provides unmatched flexibility and is particularly valuable in addressing geographic, environmental, and regulatory challenges associated with large-scale power transmission.

Mixed systems enable utilities to deploy customized transmission networks that navigate complex terrains, urban density, and ecologically sensitive areas. For example, offshore wind farms often require subsea cables to connect generation sources to onshore grids. From there, a combination of underground and overhead HVDC lines may be used to deliver power inland while minimizing land use conflicts and visual impact.

The growth of the mixed application segment is also driven by rising demand for renewable integration. As utilities strive to incorporate more solar, wind, and hydroelectric power, HVDC systems offer a highly efficient and low-loss solution for transmitting electricity over long distances. Recent technological advancements have made mixed HVDC systems more reliable and cost-effective, spurring widespread adoption across North America.

Country Insights

While the United States and Canada remain the dominant players, Mexico is emerging as the fastest-growing country in the North America HVDC Transmission Market. The Mexican government is investing heavily in grid modernization to support industrial growth, rising electricity demand, and increased renewable energy deployment. HVDC technology is playing a critical role in these efforts by enabling efficient long-distance transmission of power from renewable-rich regions to urban and industrial centers.

Mexico’s favorable geographic location also positions it as a strategic partner for cross-border electricity trade with both the United States and Canada. With multiple HVDC projects in the pipeline, Mexico is poised to play an increasingly influential role in the region’s energy future.

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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