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Demand for HVDC for large volume of electric power transmission over long distance has been growing globally.Submarine HVDC is also seen to be a fast emerging application with Asia as one of the potentially high growth areas.There is merit of using DC over AC but some concerns are also seen with DC.One of which is space charge accumulationin caseof CV XLPE type of DC cables.A lot of study is focused on the space charge handling and distribution within the transmission system especially on the current carrying power cables.This paper is trying to review the current global market and some of the potential future markets with projects announced so far globally.The systems like LCC and VSC are all being employed commercially.This paper will try to discuss some of the issues of CV XLPE For HVDC application and how the market is trending towards the development of an even higher performing compound to further improve and upgrade the total system for carrying more electric currents at higher temperatures and lower losses and costs.