Reports
Sale
Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: By Component: Converter Stations, Transmission Cables, Others; By Project Type: Point-to-Point, Back-to-Back, Multi-Terminal; By Technology: Capacitor Commutated Converter (CCC) Based, Others; By Application; Competitive Landscape; 2024-2032
Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Outlook
The Saudi Arabia high-voltage direct current (HVDC) transmission systems market size reached approximately USD 243.31 million in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching a value of around USD 429.61 million by 2032.
Key Trends in the Market
A high-voltage direct current (HVDC) transmission system is a technology used for long-distance current transmissions with lower losses than traditional transmission alternating current (AC) systems. The system involves the conversion of alternating current (AC) to direct current (DC) at the sending end and then back to AC at the receiving end.
- The rapidly growing population and expanding economy are major factors enhancing the Saudi Arabia high-voltage direct current (HVDC) transmission systems market demand. Such factors are prompting the country to diversify its energy mix beyond traditional fossil fuels. This includes ambitious plans to integrate renewable energy sources like solar and wind power into the grid. HVDC technology is essential for efficiently transmitting power from remote renewable energy installations to population centres.
- The Saudi Arabia high-voltage direct current (HVDC) transmission systems market growth is propelled by the advantages of HVDC transmission systems, offering advanced control capabilities, and allowing for precise regulation of power flows and voltage levels. This, in turn, enhances grid stability, reduces the risk of blackouts, and improves the overall reliability of the electricity supply. The Saudi Arabian government has introduced plans to install HVDC lines spanning thousands of kilometres, recognising the importance of a modern and stable electrical transmission system.
- One of the major Saudi Arabia high-voltage direct current (HVDC) transmission systems market trends is the increasing focus by the country to actively pursue interconnection projects with neighbouring countries in the Gulf Cooperation Council (GCC) region. These initiatives are focused on creating a coordinated and resilient regional grid, bolstering energy security, and facilitating the sharing of excess power among participating states. HVDC technology plays a crucial role in these connections as it excels at efficiently transmitting electricity across long distances while minimising energy losses.
Market Analysis
Based on components, the market can be segmented into converter stations and transmission cables, among others. The Saudi Arabia high-voltage direct current (HVDC) transmission systems market segmentation, based on project type, includes point-to-point, back-to-back, and multi-terminal.
The market, based on technology, is categorised into capacitor commutated converter (CCC) based, voltage source converter (VSC) based, and line commutated converter (LCC) based. Based on application, the market is divided into bulk power transmission, interconnecting grids, and infeed urban areas.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia high-voltage direct current (HVDC) transmission systems market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Siemens AG
- Hitachi Energy Ltd.
- ABB Ltd.
- General Electric Company
- Prysmian Group
- Hyundai Motor Company
- Hyosung Heavy Industries Corporation
- SNC-Lavalin Group Inc.
- Others
Market Share by Component
Transmission cables are expected to account for a major portion of the Saudi Arabia high-voltage direct current (HVDC) transmission systems market share in the forecast period. These cables are increasingly being utilised for HVDC (High-Voltage Direct Current) applications in Saudi Arabia to facilitate efficient and reliable electricity transmission. Transmission cables are essential for connecting offshore renewable energy sources, such as wind farms and solar installations, to the mainland grid. They enable the transmission of power from these remote locations to population centres.
Market Share by Project Type
According to the Saudi Arabia high-voltage direct current (HVDC) transmission systems market analysis, multi-terminal projects are likely to be a significant point of focus for the country in the coming years. Multi-terminal HVDC projects involve the connection of more than two terminals in a single HVDC transmission system. In Saudi Arabia, these projects are implemented to address specific challenges and capitalise on opportunities in the energy sector.
Competitive Landscape
Siemens AG was founded in 1847 in Berlin, Germany, and the company initially focused on telegraphy and electrical engineering. Since then, the company has become a multinational conglomerate corporation, operating in various sectors, including industry, energy, healthcare, and infrastructure. It is one of the largest and oldest engineering companies in Europe.
Hitachi Energy Ltd. is a global technology and engineering company that provides innovative solutions for the energy sector. The company's roots can be traced back to the late 19th century. It was originally part of ASEA, a Swedish-Swiss conglomerate, before becoming ABB Power Grids in the early 2020s. It was then acquired by Hitachi and rebranded as Hitachi Energy.
ABB Ltd. formerly known as ASEA Brown Boveri, is a Swiss-Swedish multinational corporation that operates in the fields of electrification, industrial automation, robotics, and motion. ABB has a strong focus on research and development. The company is known for its contributions to advanced technologies in areas like power transmission, robotics, automation, and electrification.
Other Saudi Arabia high-voltage direct current (HVDC) transmission systems market players include General Electric Company, Prysmian Group, Hyundai Motor Company, Hyosung Heavy Industries Corporation, and SNC-Lavalin Group Inc., among 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:
|
| Breakup by Component |
|
| Breakup by Project Type |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 Middle East and Africa High-Voltage Direct Current (HVDC) Transmission Systems Market Overview
8.1 Key Industry Highlights
8.2 Middle East and Africa High-Voltage Direct Current (HVDC) Transmission Systems Historical Market (2018-2023)
8.3 Middle East and Africa High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast (2024-2032)
9 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Overview
9.1 Key Industry Highlights
9.2 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market (2018-2023)
9.3 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast (2024-2032)
10 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market by Component
10.1 Converter Stations
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Transmission Cables
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market by Project Type
11.1 Point-to-Point
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Back-to-Back
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Multi-Terminal
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market by Technology
12.1 Capacitor Commutated Converter (CCC) Based
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Voltage Source Converter (VSC) Based
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Line Commutated Converter (LCC) Based
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market by Application
13.1 Bulk Power Transmission
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Interconnecting Grids
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Infeed Urban Areas
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Siemens AG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hitachi Energy Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ABB Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 General Electric Company
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Prysmian Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hyundai Motor Company
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hyosung Heavy Industries Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 SNC-Lavalin Group Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Middle East and Africa High-Voltage Direct Current (HVDC) Transmission Systems Market: Key Industry Highlights, 2018 and 2032
2. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market: Key Industry Highlights, 2018 and 2032
3. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Component (USD Million), 2018-2023
4. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Component (USD Million), 2024-2032
5. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Project Type (USD Million), 2018-2023
6. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Project Type (USD Million), 2024-2032
7. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Technology (USD Million), 2018-2023
8. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Technology (USD Million), 2024-2032
9. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Historical Market: Breakup by Application (USD Million), 2018-2023
10. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Forecast: Breakup by Application (USD Million), 2024-2032
11. Saudi Arabia High-Voltage Direct Current (HVDC) Transmission Systems Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 243.31 million.
The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 429.61 million by 2032.
The market is driven by the increasing focus on the development of renewable energy production and the advantages of HVDC over HVAC over long-distance transmission.
The growing efforts on interconnection projects and the connection of offshore renewable energy sources are expected to propel the development of the market in upcoming years.
The major technologies are capacitor commutated converter (CCC) based, voltage source converter (VSC) based, and line commutated converter (LCC) based.
The different applications are bulk power transmission, interconnecting grids, and infeed urban areas.
The key players in the market include Siemens AG, Hitachi Energy Ltd., ABB Ltd., General Electric Company, Prysmian Group, Hyundai Motor Company, Hyosung Heavy Industries Corporation, and SNC-Lavalin Group Inc., among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER