North America HVDC Transmission Market grows with rising demand for long-distance power transfer, renewable integration, and grid modernization, led by tech providers by 2030.

According to a recent TechSci Research report, “North America HVDC Transmission Market – By Country, Competition, Forecast & Opportunities, 2020-2030F”, the market was valued at USD 4.61 billion in 2024 and is projected to reach USD 6.30 billion by 2030, growing at a CAGR of 5.34%.

High Voltage Direct Current (HVDC) transmission is fast becoming a cornerstone of North America’s grid modernization strategy. As utilities face mounting challenges related to reliability, renewable integration, and cross-border energy trade, HVDC technology is emerging as a robust solution to build a resilient, efficient, and future-ready power infrastructure.

Modernizing an Aging Power Grid

Much of North America’s transmission network was built several decades ago and is increasingly inadequate for the demands of a decarbonized and decentralized energy system. Utilities in the U.S. and Canada are actively replacing legacy systems with HVDC transmission, which offers advanced capabilities such as:

• Dynamic voltage control

• Real-time power flow adjustment

• Black-start capabilities for resilience

These features are essential as climate change intensifies the frequency of extreme weather events like hurricanes, wildfires, and ice storms. Unlike conventional systems, HVDC lines can be installed underground, reducing vulnerability to natural disruptions and enhancing system hardening.

The transition from reactive maintenance to proactive grid upgrades reflects a broader commitment to reliability, efficiency, and long-term sustainability.

Enabling Flexible and Bi-Directional Power Flows

As rooftop solar, distributed wind, and community-scale renewable projects expand, modern grids must handle bi-directional and flexible power flows. HVDC transmission excels in this environment by enabling:

• Fast, controllable, and reversible power transfer

• Integration with smart grid technologies

• Enhanced compatibility with energy storage solutions

Federal programs such as the U.S. Department of Energy’s Grid Deployment Office and Canada’s Smart Grid Program are supporting these upgrades with targeted investments. By reducing congestion, improving efficiency, and enhancing resilience, HVDC is becoming central to North America’s grid transformation agenda.

Cross-Border Energy Trade: A Rising Opportunity

One of the most significant drivers of HVDC adoption is cross-border energy exchange between the United States and Canada. Bi-national HVDC interconnections are being developed to:

• Optimize regional generation resources

• Balance supply-demand fluctuations

• Enhance grid stability and resilience

Canadian provinces like Quebec and Manitoba—rich in hydroelectric resources—are exporting surplus electricity to U.S. markets through HVDC lines. These systems are uniquely capable of linking asynchronous grids without requiring frequency synchronization, making them indispensable for regional cooperation.

Similarly, the Western Interconnection is seeing momentum in HVDC projects to integrate renewable energy and support emergency power sharing. Policy frameworks, trade agreements, and climate cooperation initiatives are helping streamline these projects.

Application Spotlight: Growth of Mixed Transmission Systems

Within the North America HVDC Transmission Market, the mixed application segment—combining subsea, underground, and overhead systems—is the fastest-growing. This hybrid approach addresses geographic, environmental, and regulatory challenges by offering utilities:

• Optimized routing flexibility

• Reduced landscape and urban disruption

• Better integration of offshore and onshore renewables

For example, offshore wind farms require subsea HVDC cables to connect with onshore grids, while underground and overhead lines distribute power inland. Blending these methods allows utilities to maximize efficiency while minimizing costs and risks.

Advances in converter technology and interoperability are further boosting adoption of mixed systems, making them a key driver of market growth.

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Mexico: An Emerging Leader in HVDC Expansion

While the U.S. and Canada dominate current HVDC deployment, Mexico is emerging as the fastest-growing market in the region. Several factors underpin this trajectory:

• Government-led investments in modernizing the grid

• Rising electricity demand from industrialization and urbanization

• Abundant renewable resources (solar in the north, wind in the south)

• Strategic geographic location supporting cross-border electricity trade

Mexico’s HVDC projects are enabling efficient long-distance renewable power transmission with minimal losses, positioning the country as a critical player in North America’s integrated energy future.

Technology Innovation and Market Outlook

The HVDC market is also being shaped by advancements in converter stations, insulation materials, and smart control systems. These innovations are reducing costs, improving efficiency, and enhancing interoperability across diverse grids.

Key trends to watch include:

• Digitalization of HVDC systems with AI and IoT-enabled monitoring

• Expansion of underground and subsea HVDC projects for urban and offshore applications

• Stronger public-private partnerships driving investment in grid modernization

With electricity demand rising, renewables expanding, and energy security becoming a top policy priority, HVDC transmission is expected to maintain steady growth through 2030.

Conclusion

The North America HVDC Transmission Market is entering a transformational phase. Driven by grid modernization, renewable energy integration, and cross-border cooperation, HVDC technology is moving from a niche solution to a mainstream backbone of the future power system.

From mixed application networks to Mexico’s emerging leadership, the regional market is poised for sustainable expansion. As utilities, regulators, and technology providers collaborate on building a more resilient and efficient grid, HVDC transmission will remain at the forefront of North America’s clean energy transition.

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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