The adoption of the HVDC transmission system in Japan is to exhibit a CAGR of 9.4% through 2033. The growing liberalization of energy industries in Japan is creating opportunities for private sector investment in HVDC infrastructure.The HVDC transmission system industry in Japan is poised to witness significant opportunities with a valuation of US$ 720 million in 2023. Looking ahead, the adoption of the HVDC transmission system in Japan is likely to secure US$ 1,478 million by 2033.
| Attributes | Details |
|---|---|
| Industry Size in 2023 | US$ 720 million |
| Expected Industry Size by 2033 | US$ 1,478 million |
| Forecasted CAGR between 2023 to 2033 | 9.4% |
Key Insights-Highlights to Understand Emerging and Fast-growing Opportunities
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The Kyushu and Okinawa regions consist of multiple islands, making grid interconnection an essential factor for energy supply. This drives the need for HVDC transmission systems, which are well-suited for efficiently transmitting power between these islands.
The growing favorable conditions for renewable energy sources, such as solar and wind, in Kyushu and Okinawa are noteworthy. These regions have been making efforts to harness these resources, and HVDC technology is instrumental in transmitting this renewable energy to where it's needed primarily.
The government has been supporting the development of HVDC projects in these regions through policies and incentives aimed at promoting grid modernization, renewable energy integration, and energy security.
The city's high level of industrial and economic activity demands a stable and reliable power supply. HVDC systems are crucial for providing efficient and stable power transmission to meet these needs. Tokyo is a key economic and industrial hub in the Kanto region.
HVDC technology can enhance grid stability and resilience during extreme weather events and natural disasters. Kanto has been actively investing in renewable energy sources like solar and wind power. HVDC transmission systems are vital for efficiently integrating renewable energy into the existing grid and transmitting it to urban centers.
The government of Japan has been supportive of HVDC projects as part of its efforts to enhance energy security and promote the integration of renewable energy in the region.
The presence of the region's automotive, manufacturing, and technological industries requires a reliable and robust power supply, driving the demand for HVDC systems that offer efficient and stable power transmission.
With increasing investment in renewable energy sources, including solar and wind power in Chubu, the need for an HVDC transmission system has grown for efficiently integrating the power generated from renewable sources into the existing grid and transmitting it to urban centers.
HVDC systems play a crucial role in connecting offshore wind farms to onshore grids, ensuring the efficient transmission of power from these sources in Chubu.
Principal Consultant
| Category | Industry Share |
|---|---|
| Voltage Source Converter (VSC) technology | 59.5% |
| 2000 MW & above | 37.8% |
The voltage source converter (VSC) technology segment is expected to account for an industry share of 59.5% from 2023 to 2033. VSC technology represents a new advancement in HVDC transmission systems, based on power transistors. This technology finds wide application in submarine/land cable interconnection, integrating renewables, offshore, and urban applications. The growing demand for VSC technology is driven by its effectiveness in enhancing grid stability, its ability to efficiently integrate renewable energy sources, and its suitability for various applications including submarine/land cable interconnections, offshore projects, and urban settings. VSC technology is utilized in various schemes, including point-to-point, back-to-back, and others.
The 2000 MW and above segment, by power rating, is poised to showcase a significant industry share of 37.8%. This segment is projected to witness impressive growth during the forecast period due to several factors. The rising power demand, coupled with the imperative need for efficient integration of renewable energy sources, is a key driver. Additionally, supportive government policies and initiatives for HVDC transmission are further fueling this growth. The 2000 MW and above segment is anticipated to remain attractive in terms of CAGR and industry share due to the increasing deployment of transmission lines with higher capacity, which is becoming crucial in meeting the escalating energy needs of modern societies
Key players in the HVDC transmission system industry are concentrating on various tactics to increase their research and development spending. Their aim is to update their technologies to meet the changing consumer demand. In order to meet this demand, numerous organizations are also engaging in acquisitions and forming partnerships with other businesses to establish their own HVDC transmission system solutions.
Mitsubishi Electric is a prominent Japan-based company involved in the development and manufacturing of HVDC systems, including Voltage Source Converters (VSC) and Line Commutated Converters (LCC). They have been actively engaged in HVDC projects both within Japan and internationally.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 720 million |
| Projected Industry Size in 2033 | US$ 1,478 million |
| Anticipated CAGR between 2023 to 2033 | 9.4% CAGR |
| Historical Analysis of Demand for HVDC Transmission System in Japan | 2018 to 2022 |
| Demand Forecast for HVDC Transmission System in Japan | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing HVDC Transmission System in Japan, Insights on Global Players and their Industry Strategy in Japan, Ecosystem Analysis of Local Providers in Japan |
| Key Cities Analyzed While Studying Opportunities in HVDC Transmission Systems in Japan | Kanto Region, Chubu Region, Kinki (Kansai), Kyushu and Okinawa, Tohoku |
| Key Companies Profiled | Mitsubishi Electric Corporation; Hitachi ABB Power Grids; Toshiba Energy Systems & Solutions Corporation; Sumitomo Electric Industries, Ltd.; J-Power Systems Corporation; NEC Corporation; Fuji Electric Co. Ltd. |
The estimated valuation of the HVDC transmission system in 2023 is US$ 720 million.
The anticipated CAGR for the HVDC transmission system ecosystem through 2033 is 9.4%.
Demand for HVDC transmission systems in Japan is likely to reach US$ 1,478 million by 2033.
The Voltage Source Converter (VSC) technology system is highly preferred in Japan.
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By System Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By System Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By System Component, 2023 to 2033
5.3.1. Solution
5.3.1.1. AC & DC Harmonic Filters
5.3.1.2. Converters
5.3.1.3. DC Lines
5.3.1.4. Circuit Breakers
5.3.1.5. Others
5.3.2. Services
5.4. Y-o-Y Growth Trend Analysis By System Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By System Component, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Technology
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Technology, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Technology, 2023 to 2033
6.3.1. LCC
6.3.2. VSC
6.3.3. Others
6.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Deployment
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2023 to 2033
7.3.1. Overhead
7.3.2. Underground
7.3.3. Subsea
7.3.4. Combination
7.4. Y-o-Y Growth Trend Analysis By Deployment, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Deployment, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Power Rating
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By Power Rating, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Power Rating, 2023 to 2033
8.3.1. Below 1000 MW
8.3.2. 1000 - 2000 MW
8.3.3. 2000 MW & above
8.4. Y-o-Y Growth Trend Analysis By Power Rating, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Power Rating, 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. Kanto
9.3.2. Chubu
9.3.3. Kinki
9.3.4. Kyushu & Okinawa
9.3.5. Tohoku
9.3.6. Rest of Japan
9.4. Market Attractiveness Analysis By Region
10. Kanto Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By System Component
10.2.2. By Technology
10.2.3. By Deployment
10.2.4. By Power Rating
10.3. Market Attractiveness Analysis
10.3.1. By System Component
10.3.2. By Technology
10.3.3. By Deployment
10.3.4. By Power Rating
10.4. Key Takeaways
11. Chubu Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By System Component
11.2.2. By Technology
11.2.3. By Deployment
11.2.4. By Power Rating
11.3. Market Attractiveness Analysis
11.3.1. By System Component
11.3.2. By Technology
11.3.3. By Deployment
11.3.4. By Power Rating
11.4. Key Takeaways
12. Kinki Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By System Component
12.2.2. By Technology
12.2.3. By Deployment
12.2.4. By Power Rating
12.3. Market Attractiveness Analysis
12.3.1. By System Component
12.3.2. By Technology
12.3.3. By Deployment
12.3.4. By Power Rating
12.4. Key Takeaways
13. Kyushu & Okinawa Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By System Component
13.2.2. By Technology
13.2.3. By Deployment
13.2.4. By Power Rating
13.3. Market Attractiveness Analysis
13.3.1. By System Component
13.3.2. By Technology
13.3.3. By Deployment
13.3.4. By Power Rating
13.4. Key Takeaways
14. Tohoku Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By System Component
14.2.2. By Technology
14.2.3. By Deployment
14.2.4. By Power Rating
14.3. Market Attractiveness Analysis
14.3.1. By System Component
14.3.2. By Technology
14.3.3. By Deployment
14.3.4. By Power Rating
14.4. Key Takeaways
15. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By System Component
15.2.2. By Technology
15.2.3. By Deployment
15.2.4. By Power Rating
15.3. Market Attractiveness Analysis
15.3.1. By System Component
15.3.2. By Technology
15.3.3. By Deployment
15.3.4. By Power Rating
15.4. Key Takeaways
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By System Component
16.3.3. By Technology
16.3.4. By Deployment
16.3.5. By Power Rating
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. ABB Ltd.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Siemens AG
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Toshiba Corporation
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. General Electric Co.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Mitsubishi Electric Corporation
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Prysmian SpA
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. TransGrid Solutions Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Abengoa S.A.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. ATCO LTD.
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. LS Industrial Systems Co., Ltd.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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HVDC Transmission System Industry Analysis in Japan
