Australia High-Voltage Direct Current (HVDC) Transmission Systems Market Report and Forecast 2025-2034

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 2024. The market is expected to grow at a CAGR of 7.3% between 2025 and 2034, reaching almost USD 332.9 million by 2034.

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 2025-2034 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