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Australia High-Voltage Direct Current (HVDC) Transmission Systems Market: By Component: Transmission Medium (Cables), Converter Stations, DC Lines, AC & DC Harmonic Filters, Circuit Breakers, Others; By Transmission Type; By Technology; By Power Rating; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Outlook
The Australia high-voltage direct current (HVDC) transmission systems market size reached USD 176.5 million in 2023. The market is expected to grow at a CAGR of 7.3% between 2024 and 2032, reaching almost USD 332.9 million by 2032.
Key Takeaways:
- In 2021, wind energy emerged as the dominant source of renewable energy capacity in Australia, with a substantial market share of 9,126 MW, representing a significant increase from 1,841 MW in 2010. Despite coal and natural gas currently playing a major role in electricity generation, Australia aims to retire about 63% of its coal generation fleet by 2036.
- According to industry reports, coal remains the primary source of electricity generation, accounting for 137.4 terawatt-hours of installed capacity in 2021, followed by renewables with 61.3 terawatt-hours. Australia achieved a milestone in 2021, with renewable energy contributing over 23% to the total electricity production for the first time. The country has been actively implementing large-scale renewable energy projects, often located in remote areas, which require efficient grid connections.
The Australia high-voltage direct current (HVDC) transmission systems market involves converting alternating current (AC) into direct current (DC) for long-distance transmission through high-voltage cables. This system is essential for drawing power from offshore wind farms and other remote locations. The market for HVDC transmission in Australia is being driven by factors such as the increasing deployment of offshore wind farms, the affordability of long-distance transmission, controllability, and low short-circuit current.
Despite these benefits, high installation costs and transmission losses over shorter distances pose challenges to market growth. However, the growth of offshore wind power technology and the offshore oil and gas sector present significant opportunities for the HVDC transmission system market.
Australia's vast geography and low population density make it reliant on efficient energy transmission over long distances. As the country transitions away from fossil fuels toward renewables, the demand for HVDC transmission systems is expected to rise, particularly to connect renewable energy projects located far from demand centres.
To meet this demand, Australia is exploring super-grid interconnections with Asian grids through projects like the Australian-Asian (Power) Grid (AAG) Project. Various types of HVDC transmission systems, including monopolar, bipolar, homopolar, back-to-back, and multi-terminal configurations, are deployed for different applications such as interconnecting grids, urban areas, and offshore wind farms.
The increase in electricity demand, driven by economic recovery and renewable energy growth, further boosts the HVDC transmission system market. Wind and solar photovoltaic (PV) power are anticipated to dominate electricity generation globally, requiring efficient transmission systems like HVDC to meet demand while playing a crucial role in the Australia high-voltage direct current (HVDC) transmission systems market development.
Market Segmentation
Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Transmission Medium (Cables)
- Converter Stations
- DC Lines
- AC & DC Harmonic Filters
- Circuit Breakers
- Others
Market Breakup by Transmission Type
- Overhead
- Underground
- Submarine
Market Breakup by Technology
- Line Commutated Converters (LCC)
- Capacitor Commutated Converter (CCC)
- Voltage Source Converters (VSC)
Market Breakup by Power Rating
- Below 1000 MW
- 1001 - 2000 MW
- Above 2000 MW
Market Breakup by Application
- Infeed Urban Areas
- Bulk Power Transmission
- Interconnecting Grids
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Western Australia
- Australian Capital Territory
- Others
Competitive Landscape
Key players in the high-voltage direct current (HVDC) transmission systems market in Australia design, manufacture and offer advanced, and innovative products and services in the market.
- Schneider Electric SE
- CBI Australia
- Toshiba International Corporation Pty. Ltd.
- NR Electric Co., Ltd.
- NKT A/S
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Transmission Type |
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| Breakup by Technology |
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| Breakup by Power Rating |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Overview
8.1 Key Industry Highlights
8.2 Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market (2018-2023)
8.3 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast (2024-2032)
9 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Component
9.1 Transmission Medium (Cables)
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Converter Stations
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 DC Lines
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 AC & DC Harmonic Filters
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Circuit Breakers
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Others
10 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Transmission Type
10.1 Overhead
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Underground
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Submarine
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Technology
11.1 Line Commutated Converters (LCC)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Capacitor Commutated Converter (CCC)
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Voltage Source Converters (VSC)
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Power Rating
12.1 Below 1000 MW
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 1001 - 2000 MW
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Above 2000 MW
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Application
13.1 Infeed Urban Areas
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Bulk Power Transmission
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Interconnecting Grids
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Australia High-Voltage Direct Current (HVDC) Transmission Systems Market by Region
14.1 New South Wales
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Victoria
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Queensland
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Australian Capital Territory
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Western Australia
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Schneider Electric SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 CBI Australia
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Toshiba International Corporation Pty. Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 NR Electric Co., Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 NKT A/S
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market: Key Industry Highlights, 2018 and 2032
2. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Component (USD Million), 2018-2023
3. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Component (USD Million), 2024-2032
4. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Transmission Type (USD Million), 2018-2023
5. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Transmission Type (USD Million), 2024-2032
6. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Technology (USD Million), 2018-2023
7. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Technology (USD Million), 2024-2032
8. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Power Rating (USD Million), 2018-2023
9. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Power Rating (USD Million), 2024-2032
10. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Application (USD Million), 2018-2023
11. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Application (USD Million), 2024-2032
12. Australia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Region (USD Million), 2018-2023
13. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Region (USD Million), 2024-2032
14. Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Structure
Key Questions Answered in the Report
The market is estimated to be valued at USD 176.5 million in 2023.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is expected to witness significant growth to reach a value of USD 332.9 million in 2032.
The market is categorised according to its component, which includes transmission medium (cables), converter stations, DC lines, AC & DC harmonic filters, circuit breakers, and others.
The key market players are Schneider Electric SE, CBI Australia, Toshiba International Corporation Pty. Ltd., NR Electric Co., Ltd., NKT A/S, and others.
The market is driven by factors that include renewable energy expansion, technological advancements, and the need for efficient long-distance electricity transmission, among others.
The High-Voltage Direct Current (HVDC) Transmission Systems market is categorised according to its transmission type, which includes overhead, underground, and submarine.
The Murraylink 220 MW ±150 kV HVDC bipolar interconnector is recognized as the longest underground power transmission system globally. It links South Australia's Riverland region with Victoria's Sunraysia region via converter stations located at Red Cliffs in Victoria and Berri in South Australia. This groundbreaking infrastructure underscores the innovation and engineering prowess in Australia's energy sector, facilitating efficient power transmission across vast distances while minimizing environmental impact.
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