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According to our (Global Info Research) latest study, the global Synchrophasor market size was valued at USD 280.3 million in 2023 and is forecast to a readjusted size of USD 1211.3 million by 2030 with a CAGR of 23.3% during review period.
A synchrophasor is a time-synchronized measurement of a quantity described by a phasor. Like a vector, a phasor has magnitude and phase information. Devices called phasor measurement units (PMU) measure voltage and current and with these measurements calculate parameters such as frequency and phase angle. It provides real-time data of the grid system to operators, helping them make decisions to prevent any power outage. The measurements obtained from synchrophasor are used to improve grid visualization, operational monitoring, power system control, stability monitoring, state estimation, and fault analysis. Each measurement taken by a synchrophasor is time-stamped according to a common time reference. This enables synchrophasor from different utilities to be combined and synchronized, which presents a comprehensive view of a regional interconnection.
Schweitzer Engineering Laboratories, ABB, Siemens Energy and Beijing Sifang Automation captured the Top 4 revenue share spots in the Synchrophasor market in 2019. Schweitzer Engineering Laboratories dominated with 16.19% revenue share, followed by ABB with 15.68%, Siemens Energy with 11.41% and Beijing Sifang Automation with 10.71%.
The Global Info Research report includes an overview of the development of the Synchrophasor industry chain, the market status of Power Station (Type I, Type II), Transforming Station (Type I, Type II), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Synchrophasor.
Regionally, the report analyzes the Synchrophasor markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Synchrophasor market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Synchrophasor market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Synchrophasor industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (Units), revenue generated, and market share of different by Type (e.g., Type I, Type II).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Synchrophasor market.
Regional Analysis: The report involves examining the Synchrophasor market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Synchrophasor market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Synchrophasor:
Company Analysis: Report covers individual Synchrophasor manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Synchrophasor This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Power Station, Transforming Station).
Technology Analysis: Report covers specific technologies relevant to Synchrophasor. It assesses the current state, advancements, and potential future developments in Synchrophasor areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Synchrophasor market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Synchrophasor market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
- Type I
- Type II
Market segment by Application
- Power Station
- Transforming Station
- Others
Major players covered
- Schweitzer Engineering Laboratories
- ABB
- Beijing Sifang Automation Co., Ltd.
- State Grid Corporation of China
- Siemens Energy
- NR Electric
- GE Grid Solutions
- Vizimax
- Arbiter Systems
Market segment by region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Synchrophasor product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Synchrophasor, with price, sales, revenue and global market share of Synchrophasor from 2019 to 2024.
Chapter 3, the Synchrophasor competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Synchrophasor breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Synchrophasor market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Synchrophasor.
Chapter 14 and 15, to describe Synchrophasor sales channel, distributors, customers, research findings and conclusion.