Synchrophasor Market Report: Trends, Forecast and Competitive Analysis to 2030

Synchrophasor Trends and Forecast

The future of the global synchrophasor market looks promising with opportunities in the fault analysis, state estimation, stability monitoring, power system control, operational monitoring, and improve grid visualization markets. The global synchrophasor market is expected to reach an estimated $0.9 billion by 2030 with a CAGR of 17.2% from 2024 to 2030. The major drivers for this market are modernizing the power grid infrastructure, high occurrences of power failures, and rising investments in smart grid projects.

A more than 150-page report is developed to help in your business decisions.

Synchrophasor by Segment

The study includes a forecast for the global synchrophasor by component, application, and region.

Synchrophasor Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software

Synchrophasor Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Fault Analysis
• State Estimation
• Stability Monitoring
• Power System Control
• Operational Monitoring
• Improve Grid Visualization
• Others

Synchrophasor Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Synchrophasor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies synchrophasor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the synchrophasor companies profiled in this report include-

• ABB
• Arbiter Systems
• Electric Power
• General Electric
• Nr Electric
• Qualitrol
• Schweitzer Engineering Laboratories

Synchrophasor Market Insights

Lucintel forecasts that hardware will remain the larger segment over the forecast period due to high need for measuring and synchronizing the phase angle and magnitude of electrical quantities.

Within this market, power system control is expected to witness highest growth as synchrophasor helps in improving the reliability, efficiency, and security of power systems.

North America will remain the largest segment over the forecast period due to growing adoption of smart grid technologies.

Features of the Global Synchrophasor Market

Market Size Estimates: Synchrophasor market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Synchrophasor market size by component, application, and region in terms of value ($B).

Regional Analysis: Synchrophasor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, applications, and regions for the synchrophasor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the synchrophasor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the synchrophasor market size?

Answer: The global synchrophasor market is expected to reach an estimated $0.9 billion by 2030.

Q.2 What is the growth forecast for synchrophasor market?

Answer: The global synchrophasor market is expected to grow with a CAGR of 17.2% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the synchrophasor market?

Answer: The major drivers for this market are modernizing the power grid infrastructure, high occurrences of power failures, and rising investments in smart grid projects.

Q4. What are the major segments for synchrophasor market?

Answer: The future of the synchrophasor market looks promising with opportunities in the fault analysis, state estimation, stability monitoring, power system control, operational monitoring, and improve grid visualization markets.

Q5. Who are the key synchrophasor market companies?

Answer: Some of the key synchrophasor companies are as follows:

• ABB
• Arbiter Systems
• Electric Power
• General Electric
• Nr Electric
• Qualitrol
• Schweitzer Engineering Laboratories

Q6. Which synchrophasor market segment will be the largest in future?

Answer: Lucintel forecasts that hardware will remain the larger segment over the forecast period due to high need for measuring and synchronizing the phase angle and magnitude of electrical quantities.

Q7. In synchrophasor market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest segment over the forecast period due to growing adoption of smart grid technologies.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the synchrophasor market by component (hardware and software), application (fault analysis, state estimation, stability monitoring, power system control, operational monitoring, improve grid visualization, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?