Phase Shifting Transformer Market
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The global phase shifting transformer market was valued at USD 172.4 million in 2024 and is poised to witness more than 6.6% CAGR from 2025 to 2034. As renewable energy sources like wind and solar become more prevalent, their intermittent nature places new demands on grid stability. PSTs are increasingly adopted to control power flow between grid sections, reduce bottlenecks, and stabilize voltage, making them crucial for modern grid infrastructure. Many countries are investing in upgrading aging grid infrastructure, which includes the integration of advanced PSTs to manage power distribution more efficiently. This demand is particularly high in regions undergoing rapid industrialization or where aging infrastructure requires modernization.
Innovations in transformer technology, such as digital monitoring systems and IoT integration, are enhancing PST functionality. Advanced sensors and data analytics allow real-time monitoring and predictive maintenance, improving transformer lifespan and efficiency. PSTs help reduce energy loss by efficiently managing power flow, which is aligned with global efforts toward energy conservation. Their role in optimizing energy efficiency appeals to utilities and governments aiming to reduce carbon emissions and improve power delivery.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Phase Shifting Transformer Market size in 2024: | USD 172.4 Million |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2023 - 2032 CAGR: | 6.6 |
| 2023 Value Projection: | USD 335.1 Million |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Rating and Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Emerging economies, particularly in Asia-Pacific, Latin America, and parts of Africa, are expected to see increased demand for PSTs. This growth is driven by urbanization, industrial expansion, and investments in grid infrastructure to accommodate rising electricity demand. Major companies in the transformer industry, such as ABB, Siemens, and General Electric, are making strategic investments and acquisitions to strengthen their market position. These investments focus on expanding production capabilities, developing new technologies, and enhancing customer support for utility and industrial applications.
As global renewable capacity expands, PSTs play an essential role in balancing the load and facilitating the integration of green energy. They are particularly valuable for minimizing energy loss and managing variable renewable sources, making them an essential component for utilities focused on sustainability.
The below 400 MVA segment is anticipated to exceed USD 65.7 million by 2034. Smaller, sub-400 MVA PSTs are ideal for enhancing the stability and flexibility of distribution grids, especially in urban areas with dense electricity demand. As utilities work to prevent power imbalances and maintain steady voltage, these lower-rated PSTs are increasingly deployed to support local grids.
The utility segment is projected to grow at a CAGR of about 5.7% through 2034. Utility-scale PSTs are critical for controlling large power flows across transmission networks, managing congestion, and preventing overloads. With the complexity of modern grids, PSTs enable utilities to balance power effectively, providing flexibility to adapt to fluctuations in supply and demand. As utilities incorporate more renewable energy sources like solar and wind, the need for phase-shifting transformers to manage intermittent power flows has increased. Utility-scale PSTs support the stable integration of these renewable sources, ensuring efficient distribution and reducing energy losses across the grid.
The U.S. phase-shifting transformer market is expected to surpass USD 32.5 million by 2034. Many parts of the U.S. electrical grid are outdated, leading utilities to invest in upgrading their infrastructure. Phase-shifting transformers are crucial in this modernization, allowing utilities to control power flows, reduce bottlenecks, and enhance grid reliability in line with national goals for a more resilient and adaptable grid.
The Asia Pacific region is undergoing rapid urbanization and industrial growth, leading to an increased demand for reliable and efficient power distribution systems. Phase-shifting transformers are being deployed to address the growing need for grid stability and efficient power flow in densely populated and industrialized areas.
ABB, a major player in the phase-shifting transformer industry, offers a diverse range of electrical equipment, including both standard and customized designs. With a strong foothold in the electrical industry, ABB consistently provides tailored bushing solutions to meet various application needs.
Some of the major key players operating across the phase shifting transformer industry are:
Market, By Rating
Market, By Application
The above information has been provided for the following regions and countries:
The U.S. phase shifting transformer market is expected to surpass USD 32.5 million by 2034, fueled by investments in modernizing aging grid infrastructure to enhance reliability and meet national energy goals.
The utility segment is anticipated to grow at a CAGR of 5.7% through 2034, led by the need to manage large power flows, prevent congestion, and integrate renewable energy sources effectively.
The sub-400 MVA segment is expected to exceed USD 65.7 million by 2034 as these transformers enhance grid stability and flexibility, particularly in urban areas with dense electricity demand.
The global market for phase shifting transformer was reached USD 172.4 million in 2024 and is projected to grow at a 6.6% CAGR from 2025 to 2034, driven by the increasing adoption of renewable energy sources and the need for grid stability.
Key players in the industry include ABB, Eaton, GE Grid Solutions, Hitachi Energy, Hyosung Heavy Industries, Schneider Electric, SGB-SMIT Group, Siemens Energy, Tamini Transformers, Toshiba International Corporation, and Wilson Transformers.