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Phase Shifting Transformer Market Trends

Report ID: GMI6866
Published Date: Dec 2024
Report Format: PDF

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Phase Shifting Transformer Market Trends

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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

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.

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 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 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.

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.