Offshore HVDC Platform Market Size, Share and Trends 2026 to 2035

Revenue, 2025

USD 8.52 Bn

Forecast Year, 2035

USD 25.30 Bn

CAGR, 2026 - 2035

11.50%

Report Coverage

Global

What is the Offshore HVDC Platform Market Size in 2026?

The global offshore HVDC platform market size was calculated at USD 8.52 billion in 2025 and is predicted to increase from USD 9.50 billion in 2026 to approximately USD 25.30 billion by 2035, expanding at a CAGR of 11.50% from 2026 to 2035.The offshore HVDC platform market is expected to grow significantly due to the higher demand for large-scale and distant offshore wind farms connecting to the mainland grid. The main focus of the market involves enhancing Voltage Source Converter (VSC) Technology. The market is also expected to expand due to increasing investments in the field of renewable energy, especially in major Asian countries. Efficiency in long-distance power transmission serves as the primary goal for market growth.

Key Takeaways

• Asia Pacific held the majority of the share of the offshore HVDC platform market in 2025.
• North America is observed to have a significant growth in the foreseen period.
• By platform type, the fixed segment held a dominant position in the market in 2025.
• By platform type, the floating segment is expected to grow at the fastest CAGR in the foreseen period.
• By component analysis, the converter stations segment led the global market with the highest revenue share in 2025.
• By component analysis, the transformer stations segment is expected to expand rapidly in the foreseen period.
• By application analysis, the wind power integration segment dominated the global market in 2025 and is also observed as the fastest-growing segment with the highest CAGR in the forecast period.
• By capacity analysis, the 501-1000MW segment registered its dominance over the global market in 2025.
• By capacity analysis, the above 1000MW segment is expected to witness the fastest growth in the foreseen period.

What is the Offshore HVDC Platform Market?

The offshore HVDC platform market involves specialized, floating, or fixed offshore-based converter systems that are helpful to convert Alternating Current (AC) from wind farms into high voltage direct current (HVDC) for efficient, long-distance transmission to shore. Such platforms are also helpful for integrating large-scale offshore renewables. The market is also defined as the global sector that is focused on the design, construction, and deployment of maritime installations that host high-voltage converter equipment. Such platforms are helpful for the transition of power between AC and DC to facilitate the efficient transmission of bulk renewable energy from remote offshore wind farms to onshore grids. The converter stations also play a crucial role in the market as they contain Voltage Source Converters (VSC) or Line-Communicated Converters (LCC) to rectify AC power from wind turbines into DC for long-distance transport.

Role of Technology in the Growth of the Offshore HVDC Platform Market

The segment has a major contribution to the growth of the market by enabling technical and economic feasibility, transmitting large-scale renewable energy from distant offshore wind farms to the mainland. The major shift of the market from AC to VSC-HVDC technology, as it helps to handle long-distance, high-power transmission with lower losses, reduced footprint, and superior grid stabilization. Technologies such as Modular Multilevel Converters (MMC) in compact designs help to reduce the platform's footprint and weight, which is helpful for the growth of the industry. It also leads to cost-effective, high-density converter stations with power densities. Advancements in Gas-Insulated Switch Gears (GIS) help to reduce equipment size for space-constrained, expensive offshore platforms. The segment also involves the industry's major shift towards lean HVDC platforms, which lowers operational costs and safety risks.

Offshore HVDC Platform Market Trends

• Technological Advancements: The major shift of the industry from LCC technology towards VSC technology for its ability to connect weak grids and provide black-start capability for offshore wind integration.
• Grid Integration: The main aim of the segment involves connecting large-scale, offshore wind farms to the mainland, requiring advanced subsea cables and compact platform designs.
• Digitalization: Higher preference for digital monitoring systems to improve real-time analysis and operational efficiency also helps to propel the market's growth.

Market Scope

Segmental Insights

Platform Type Insights

Which Component of the Platform Segment Led the Global Market in 2025?

The fixed segment held a dominant position in the offshore HVDC platform market in 2025. The segment is observed to grow majorly due to factors such as proven reliability, established fabricator networks, and cost-effectiveness. The fixed platforms use monopiles and jackets to support high-voltage converter stations. Such a platform also observes growth due to its lower relative cost and the rapid expansion of shallow to transitional water wind farms. The fixed structures also benefit from mature supply chains and well-established engineering to provide lower initial capital costs.

The floating segment is observed to be the fastest-growing in the offshore HVDC platform market in the foreseeable period. Such platforms are strong enough to bear a harsh environment and can be easily deployed in locations where fixed platforms cannot sustain. The modular design of floating platforms allows for easier transportation, installation, and maintenance, to reduce project timelines and overall costs, further propelling the growth of the market. Such platforms can also be easily anchored with the help of the mooring systems to the seabed to provide stability in the dynamic movements of the sea. Hence, large-scale offshore wind farms highly adopt floating platforms as they can sustain conditions such as deep sea and challenging seabed conditions, where making a fixed platform is a bit impractical.

Component Insights

Why did the Converter Stations Segment Lead the Global Industry in 2025?

The converter stations segment had dominance over the global offshore HVDC platform market in 2025. The main responsibility of the segment involved converting AC to DC for long-distance transmission and vice versa as well. Such stations are also equipped with advanced power electronics, cooling systems, and control units to ensure stability and efficiency under challenging marine situations. The segment also observes growth with the growing demand for high-capacity, compact converter stations with the rising offshore wind projects. The modern converter stations are designed to handle 700MW to over 1GW, which is helpful for the growth of the industry. The use of compact VSC technology also allows for smaller, lighter offshore platforms to reduce structural steel requirements. The segment also observes growth due to advanced technologies such as MMC, 12-pulse converters, and VSC.

The transformer stations segment of the offshore HVDC platform market is observed to grow with the highest CAGR in the forecast period. The segment observes major growth in the foreseen period as it facilitates voltage regulation and also ensures safe and efficient transfer of electricity between different parts of the HVDC systems. The segment also observes growth in offshore transformers, as designed to sustain rough sea climate, high humidity, and temperature fluctuations with the help of robust insulation and protection systems. The transformer stations also observe major changes in the form of higher voltage and capacity ratings, with the focus on improving efficiency, reliability, and ease of maintenance.

Application Insights

Which Component of the Application Segment Leads the Global Market in 2025?

The wind power integration segment dominated the global offshore HVDC platform market in 2025, and is also observed to be the fastest growing region in the expected years, as it is highlighted to surge in offshore wind projects. The floating HVDC platforms enable the efficient transmission of electricity generated by offshore wind turbines to onshore grids. The procedure also helps to overcome limitations of traditional AC transmission in terms of factors such as distance, capacity, and losses. Growing demand for high-capacity HVDC transmission infrastructure due to wind farms moving further offshore is another major factor boosting the demand for the segment.

Capacity Insights

Which Component of the Capacity Segment Dominated the Market in 2025?

The 501-1000MW segment held the largest revenue share of the offshore HVDC platform market in 2025. The segment has a major contribution in the market as it represents an ideal balance between scalability, efficiency, and cost between different platforms, making the segment suitable for commercial offshore energy developments. The size and capacity of the offshore wind turbines are increasing day by day, leading to greater demand for higher-capacity HVDC platforms, further propelling the growth of the segment. Such platforms are also equipped with advanced power electronics, cooling systems, and automation technologies to ensure improved performance in case of operating conditions.

The above 1000MW segment is expected to witness the highest growth in the offshore HVDC platform market in the forecast period. The segment growth is majorly driven by the development of mega-scale offshore wind projects and cross-border interconnections. The segment is inclusive of the platforms that are designed to handle very high power ratings, allowing aggregation and transmission of electricity from multiple wind farms or energy hubs to onshore grids. The segment also experiences innovations in platform design, materials, and power electronics to manage the operational challenges faced by the segment seamlessly. The segment also has a major contribution to the growth of the market, as it is expected to set new benchmarks for the industry and provide new opportunities for large-scale offshore energy integration.

Regional Insights

Why did Asia Pacific Lead the Global Market in 2025?

Asia Pacific had the largest revenue share of the offshore HVDC platform market in 2025, mainly due to the rapid expansion of offshore wind capacity in multiple Asian countries, leading to growing demand for advanced transmission solutions. Such solutions are also helpful to overcome serious challenges of the industry, such as deep-water installations and long-distance power transfer. The market also observes growth in the region due to various supportive policies of the government, along with research incentives to promote the development and deployment of floating HVDC technologies. The involvement of local manufacturers and international names in the market is further supporting innovation, competition, and localization of supply chains.

China Offshore HVDC Platform Market Trends

China has a major contribution to the growth of the market due to the country's aggressive expansion of offshore wind power in coastal regions. The market is also elevated in the region due to the presence of advanced technologies such as VSC-HVDC to transmit large-scale, distant offshore wind power to mainland load centers.

Why is North America expected to have Significant Growth in the Foreseen Period?

North America is expected to experience significant growth in the coming years due to the region's aggressive offshore wind targets, along with the need to replace aging grid infrastructure. The growing investments in the HVDC transmission industry of the region are also propelling the growth of the market. Technological advancements in the form of VSC-HVDC for offshore platforms are helpful to stabilize weak offshore grids and are a major factor for the growth of the market.

The U.S. Offshore HVDC Platform Market Trends

The U.S. is poised to have significant growth in the foreseen period, rapid expansion in offshore wind capacity, and grid modernization of the region. The region is also expected to grow with the highest CAGR due to factors such as massive investments in renewable energy integration for long-distance subsea transmissions from offshore wind farms.

Offshore HVDC Platform Market Value Chain Analysis

Offshore HVDC Platform Market Companies

• Siemens Energy
• Hitachi Energy
• ABB
• Aker Solutions
• Schneider Electric
• GE Grid Solutions
• Mitsubishi Electric
• Nexans
• Prysmian Group
• Equinor
• Ørsted
• Technip Energies
• Subsea 7
• Saipem
• Petrofac

Segments Covered in the Report

By Platform Type

• Fixed
• Floating

By Component

• Converter Stations
• Transformers
• Switchgear
• Others

By Application

• Wind Power Integration
• Oil & Gas Platforms
• Grid Interconnection
• Others

By Capacity

• Up to 500 MW
• 501–1000 MW
• Above 1000 MW

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa