Saudi Arabia HVDC Transmission Market Size

Saudi Arabia HVDC Transmission Market Size, Share, Trends and Forecast by Technology, Component, End-User, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A28957

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Saudi Arabia HVDC Transmission Market Overview:

The Saudi Arabia HVDC transmission market size reached USD 105.80 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 175.44 Million by 2033, exhibiting a growth rate (CAGR) of 5.80% during 2025-2033. The market is primarily driven by increasing investments in smart grid modernization, advanced monitoring capabilities, growing adoption of renewable energy, rising decarbonization efforts, efficient integration of solar and wind projects, strengthened cross-border energy exchange initiatives, and expanding public and private sector funding for transmission infrastructure.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 105.80 Million
Market Forecast in 2033	USD 175.44 Million
Market Growth Rate (2025-2033)	5.80%

Saudi Arabia HVDC Transmission Market Trends:

Investment in smart grid integration

Substantial investments in smart grid technologies by Saudi Arabian government bodies to modernize its power infrastructure is leading to higher demand for HVDC systems. For instance, in December 2023, ENOWA, a subsidiary of NEOM, introduced a high-voltage smart grid blueprint aimed at NEOM, cutting corridor footprints and undergrounding costs by more than 50%. These systems play a vital role in enhancing power management, enabling seamless integration of renewable energy sources into the grid while improving energy efficiency and ensuring stable power transmission over long distances. The reduction in transmission losses and optimization of energy flow due to HVDC systems is critical for addressing the country's expanding electricity needs. This trend is driving significant growth in the HVDC market. Moreover, private sectors are increasing their investments in grid modernization projects which is providing an impetus to the market.

Shift toward decarbonization in power transmission

Saudi Arabia's increasing efforts to decarbonize its energy sector are creating substantial opportunities for the market. The ability of HVDC system to integrate renewable energy sources is crucial for achieving its carbon reduction goals. HVDC is increasingly being deployed to transmit clean energy efficiently over long distances due to the several solar and wind power projects. This rising demand for sustainable and energy-efficient transmission solutions is supporting the market growth. Moreover, the rising number of international investors attracted to the country's focus on green energy projects, driving funding and partnerships for sustainable infrastructure development is contributing to the market expansion. For instance, in December 2024, TotalEnergies and Aljomaih Energy entered a 25-year Power Purchase Agreement with Saudi Power Procurement Company for the 300 MW Rabigh 2 solar project, supporting Saudi Arabia's renewable energy goals and Vision 2030 initiatives.

Expansion of cross-border power exchange

The implementation of favorable initiatives to enhance cross-border energy exchange by the Saudi Arabian government is significantly contributing to the growth of the overall HVDC market. For instance, in August 2024, Saudi Electricity Company (SEC) obtained a USD 2 billion five-year syndicated loan, led by Bank of China, to support the expansion and modernization of its power network across the Middle East. The country is using HVDC technology to strengthen its interconnection with neighboring countries. These systems play a vital role in balancing regional power supply, as the country is aiming to export surplus renewable energy to nearby markets. This focus on energy trade is increasing investments in HVDC infrastructure and the large-scale interconnection projects, which in turn is driving market growth. In addition to this, increasing investments and funding from both the public and private sectors are stimulating the HVDC market and ensuring steady market growth in the coming years.

Saudi Arabia HVDC Transmission Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on technology, component, and end-user.

Technology Insights:

Line Commutated Converter (LCC)
Voltage Source Converter (VSC)

The report has provided a detailed breakup and analysis of the market based on technology. This includes line commutated converter (LOC) and voltage source converter (VSC).

Component Insights:

Converter Stations
Transmission Cables
Transformers
Switchgear

A detailed breakup and analysis of the market based on the component have also been provided in the report. This includes converter stations, transmission cables, transformers, and switchgear.

End-User Insights:

Utility
Industrial
Commercial
Residential

A detailed breakup and analysis of the market based on the end-user have provided have also been provided in the report. This includes utility, industrial, commercial, and residential.

Regional Insights:

Northern and Central Region
Western Region
Eastern Region
Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central, Western, Eastern, and Southern Regions.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia HVDC Transmission Market News:

On November 11, 2024, Hyundai engineering & construction co. (Hyundai E&C) secured a contract with Saudi Electricity Co. (SEC) to construct a 500kV high voltage direct current (HVDC) transmission line between Riyadh and Kudmi, valued at approximately 1 trillion won. This 1,089 km project involves designing, procuring, and constructing the first 369 km section near Kudmi, with completion expected by January 2027. The HVDC line, Saudi Arabia's first double bi-pole transmission line with a 4,000 MW capacity, aims to enhance energy efficiency and stability.
In September 2024, Larsen & Toubro (L&T) secured contracts valued at SAR 1.51 billion (approximately USD 403.8 Million) from the Saudi electricity company (SEC) to develop HVDC transmission links and GIS substations in Saudi Arabia. L&T will establish ±500 kV HVDC links to interconnect national electricity regions, alongside two 380 kV overhead transmission lines and a 380 kV GIS substation.

Saudi Arabia HVDC Transmission Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Technology Component End-User Region
Technologies Covered	Line Commutated Converter (LOC), Voltage Source Converter (VSC)
Components Covered	Converter Stations, Transmission Cables, Transformers, Switchgear
End-Users Covered	Utility, Industrial, Commercial, Residential
Regions Covered	Northern and Central Region, Western Region, Eastern Region, Southern Region
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Saudi Arabia HVDC transmission market performed so far and how will it perform in the coming years?
What is the breakup of the Saudi Arabia HVDC transmission market on the basis of technology?
What is the breakup of the Saudi Arabia HVDC transmission market on the basis of component?
What is the breakup of the Saudi Arabia HVDC transmission market on the basis of end-user?
What are the various stages in the value chain of the Saudi Arabia HVDC transmission market?
What are the key driving factors and challenges in the Saudi Arabia HVDC transmission market?
What is the structure of the Saudi Arabia HVDC transmission market and who are the key players?
What is the degree of competition in the Saudi Arabia HVDC transmission market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia HVDC transmission market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia HVDC transmission market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia HVDC transmission industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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Saudi Arabia HVDC Transmission Market