HVDC Transmission Market in India Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

HVDC overhead transmission systems have a simpler line tower construction requirement compared to HVAC transmission lines. Also, HVDC overhead transmission systems have lower per-unit costs, including cost per km of line and per MV of transmitted power.

In major part of the world, high-voltage overhead transmission is a popular means of power transmission. DC decreases the total cost for long-distance power transmission with overhead lines cables.

Moreover, the high-voltage overhead transmission is much less expensive to build and much quicker to repair than underground transmission. However, it has seen decreasing applications in densely-populated urban and commercial areas. 

The India HVDC Transmission Systems Market is projected to increase from USD 3.27 billion in 2023 to USD 4.96 billion by 2028, indicating an 8.65% CAGR during the forecast period (2023-2028). Despite the COVID-19 pandemic, the country maintained its medium- to long-term plans for power transmission, categorized as an essential service by the Ministry of Power, ensuring uninterrupted operations. Factors like the expanding renewable energy sector, rapid urbanization, and the drive for rural electrification are poised to propel market growth. However, the rise of distributed and remote power systems within the country may pose a hindrance to market expansion.
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