Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2024
Companies covered: 11
Tables & Figures: 20
Countries covered: 21
Pages: 123
Download Free PDF

Phasor Measurement Unit Market
Get a free sample of this reportGet a free sample of this report Phasor Measurement Unit Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Phasor Measurement Unit Market Size
The global phasor measurement unit market size was valued at USD 688.2 million in 2024 and is estimated to reach the value of USD 1.1 billion by 2034, growing at a CAGR of 5% from 2025 to 2034. The phasor measurement unit (PMU), also known as a synchro-phasor, market is experiencing rapid growth worldwide due to its critical role in modern power systems for enhancing grid stability, reliability, and efficiency.
One of the primary drivers of market growth is the global transition toward smarter, more resilient power grids. As countries aim to modernize aging infrastructure, they adopt advanced technologies like PMUs to facilitate real-time grid monitoring, fault detection, and dynamic stability assessment. This is especially vital as the share of intermittent renewable energy sources, such as wind and solar, increases, creating variability and unpredictability in power flows.
In 2024, the U.S. saw a surge in solar energy deployment, with the installation of a record-breaking 50 gigawatts (GW) of new capacity. This made 2024 the largest single year of new capacity added by any energy technology in over two decades. Solar and storage accounted for 84% of all new electric generating capacity added to the grid. These numbers indicate that the demand for the phasor measurement unit will be increasing in coming years.
The rising electrical consumption is also propelling the demand for the PMU. In 2024, global electricity consumption saw a significant surge, increasing by 4.3%. This growth was driven by factors like robust economic growth, increasing electrification across sectors, and extreme heatwaves. The increase in electricity demand was higher than both overall energy demand and GDP growth.
The push for grid modernization is supported by government policies and initiatives worldwide. For instance, many countries in North America and Europe have mandated or incentivized the deployment of synchro phasor technology to comply with regulatory standards and improve grid security. Similarly, emerging economies in Asia-Pacific are investing heavily in smart grid projects to meet growing energy demands, propelling the adoption of PMUs.
Technological advancements also contribute to market expansion. Innovations in measurement accuracy, data analytics, and communication technologies have made PMUs more scalable and cost-effective. The integration of PMUs with advanced grid management systems enables predictive analytics and enhanced decision-making, further boosting their adoption across utilities and independent system operators.
Phasor Measurement Unit Market Trends
Phasor Measurement Unit Market Analysis
Phasor Measurement Unit Market Share
GE Vernova, Siemens, Schneider Electric are the leading firms in the phasor measurement unit industry, controlling upwards of 25% market share. They offer reliable, high-precision PMUs integrated with sophisticated software solutions, ensuring grid stability and efficient operations. These firms invest heavily in research and development, fostering innovation and customization to meet diverse regional needs. Their established distribution networks, robust customer support, and strategic partnerships enable widespread adoption across utilities and grid operators.
Phasor Measurement Unit Market Companies
Major players operating in the phasor measurement unit market are:
Phasor Measurement Unit Industry News
This phasor measurement unit market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2034, for the following segments:
Click here to Buy Section of this Report
Market, By Component
Market, By Application
The above information has been provided for the following regions and countries: