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Phase Shifting Transformer Market Share

Report ID: GMI6866
Published Date: Oct 2023
Report Format: PDF

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Phase Shifting Transformer Market Share

Some of the key market players operating across the phase shifting transformer market are:

Siemens Energy
Schneider Electric
Hitachi Energy Ltd.
ABB
Eaton
GE Grid Solutions
Hyosung Heavy Industries
Toshiba International Corporation Pty Ltd.
SGB-SMIT Group
Wilson Transformers
Tamini Trasformatori S.r.l.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of phase shifting transformer was worth USD 157.4 million in 2023 and is projected to record over 7.3% CAGR through 2032, due to the increasing integration of renewable energy sources and the higher need for grid stability and reliability.

Phase shifting transformer industry from the > 800 MVA rating segment will witness more than 7% CAGR from 2023 to 2032, owing to the surging grid modernization efforts.

The utility application segment may hold over 74.1% share of the phase shifting transformer market by 2032, driven by the growing adoption of utility-scale renewable energy projects, such as solar and wind farms.

APAC phase shifting transformer market size is set to grow at over 7.1% CAGR through 2032, due to significant growth in renewable energy installations, including solar and wind power.