New Research Study “Global Phasor Measurement Units (PMU) Market” has been added to Global Market Vision
Phasor Measurement Units (PMUs) are devices used to measure the electrical properties of power systems in real-time. They use GPS technology to synchronize measurements, allowing for accurate and precise monitoring of the power system. PMUs are used in the power industry to improve the reliability and stability of power systems by providing real-time data on system conditions.
PMUs measure a variety of electrical parameters such as voltage, current, and frequency, as well as power flow and phase angle. This data is then used to identify system disturbances and potential problems, allowing operators to take corrective action before a failure occurs.
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The increasing adoption of smart grid technology and the growing use of renewable energy sources are driving the demand for PMUs. The integration of renewable energy sources into the power grid requires accurate and precise monitoring to ensure stability and reliability. Additionally, the increasing focus on grid modernisation and the need for improved power system visibility are also driving the market growth.
Market segment by manufacturers, this report covers: ABB, GE Grid Solutions, Siemens Energy, State Grid Corporation of China, Beijing Sifang Automation, Schweitzer Engineering Laboratories, NR Electric, Arbiter Systems, Vizimax, Macrodyne,
Segment by Type
Type 1, Type 2
Segment by Application
Power Station, Transforming Station, Other
Geographically, this report is segmented into several key regions, with sales, revenue, market share, and Phasor Measurement Units (PMU) market growth rate in these regions, from 2022 to 2030, covering
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia, and Vietnam)
- South America (Brazil etc.)
- Middle East and Africa (Egypt and GCC Countries)
PMUs are used in various applications such as transmission and distribution systems, renewable energy integration, and power system monitoring. They are also used in the oil and gas industry to monitor pipelines and in the transportation industry to monitor rail and subway systems.
The global PMU market is segmented based on component, application, and geography. Based on component, the market is segmented into hardware and software. Based on application, the market is segmented into transmission and distribution, renewable energy integration, and power system monitoring.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the market during the forecast period, due to the presence of a large number of power companies in the region. Asia-Pacific is expected to witness the highest growth during the forecast period, due to the increasing infrastructure development and industrialization in the region.
Some of the key players operating in the global PMU market are ABB, General Electric, Siemens, Schneider Electric, Alstom Grid, Elspec, NEL, PMU Solutions, NARADA Power, and DNV GL.
Overall, the PMU market is expected to witness significant growth during the forecast period, due to the increasing adoption of smart grid technology and the growing use of renewable energy sources. The increasing focus on grid modernisation and the need for improved power system visibility are also driving the market growth.
Phasor Measurement Units (PMU) market share analysis
Phasor Measurement Units (PMU) are devices used to measure and synchronize electrical power system parameters in real-time. These devices play a crucial role in the integration of renewable energy sources, grid stability and smart grid implementation.
The market for PMU is expected to grow significantly in the upcoming years, driven by the increasing adoption of renewable energy sources and the need for grid stability. The increasing demand for PMU from various end-use industries such as transmission and distribution utilities, power generation, and others is also expected to drive the market growth.
In terms of market share, some of the key players operating in the PMU market include ABB Ltd, Siemens AG, GE Grid Solutions, Schweitzer Engineering Laboratories, Inc., and Alstom SA. These companies hold a significant share of the market due to their strong brand reputation and wide product offerings.
ABB Ltd, for instance, is one of the leading providers of PMU and has a strong presence in the market, with a broad range of products and solutions catering to various end-use industries. Siemens AG is another major player in the market and offers PMU solutions for power transmission and distribution networks.
However, the market is highly competitive and there are many small and medium-sized companies operating in the market, which is expected to increase the competition in the market in the upcoming years. These companies are focusing on developing innovative products and expanding their geographical presence to gain a larger share of the market.
Overall, the PMU market is expected to witness significant growth in the upcoming years, driven by the increasing adoption of renewable energy sources and the need for grid stability. The increasing demand for PMU from various end-use industries is also expected to drive the market growth.
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