The North America Synchrophasor Market is projected to witness market growth of 8.8% CAGR during the forecast period (2024-2031).
The US market dominated the North America Synchrophasor Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $287.6 million by 2031. The Canada market is experiencing a CAGR of 11.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.2% during (2024 - 2031).
Critical application of synchrophasors is fault detection and localization. By analyzing the phase angles and magnitudes of synchrophasor measurements, operators can quickly pinpoint the location of faults or disturbances within the grid.
Additionally, by analyzing frequency deviations and phase differences across different points in the grid, synchrophasors enable operators to detect and mitigate oscillations efficiently. This capability improves overall grid stability and prevents oscillatory events from causing disruptions or equipment damage.
As electricity demand in Canada grows, grid operators face challenges maintaining grid reliability and stability. Synchrophasor technology provides real-time monitoring of grid conditions, offering precise measurements of voltage, current, and frequency dynamics across transmission and distribution networks. This capability is essential for identifying and managing grid disruptions, optimizing grid operations, and ensuring consistent electricity supply amidst varying demand patterns.
The US market dominated the North America Synchrophasor Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $287.6 million by 2031. The Canada market is experiencing a CAGR of 11.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.2% during (2024 - 2031).
Critical application of synchrophasors is fault detection and localization. By analyzing the phase angles and magnitudes of synchrophasor measurements, operators can quickly pinpoint the location of faults or disturbances within the grid.
Additionally, by analyzing frequency deviations and phase differences across different points in the grid, synchrophasors enable operators to detect and mitigate oscillations efficiently. This capability improves overall grid stability and prevents oscillatory events from causing disruptions or equipment damage.
As electricity demand in Canada grows, grid operators face challenges maintaining grid reliability and stability. Synchrophasor technology provides real-time monitoring of grid conditions, offering precise measurements of voltage, current, and frequency dynamics across transmission and distribution networks. This capability is essential for identifying and managing grid disruptions, optimizing grid operations, and ensuring consistent electricity supply amidst varying demand patterns.
List of Key Companies Profiled
- Schweitzer Engineering Laboratories, Inc. (SEL)
- Arbiter Systems, Inc.
- Vizimax Inc.
- Powerside
- ERLPhase Power Technologies Ltd.
- ABB Ltd.
- Siemens AG
- General Electric Company
- NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
Market Report Segmentation
By Component- Hardware
- Software
- Fault Analysis
- Stability Monitoring
- State Estimation
- Improve Grid Visualization
- Operational Monitoring
- Power System Control
- Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Synchrophasor Market by Component
Chapter 5. North America Synchrophasor Market by Application
Chapter 6. North America Synchrophasor Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Schweitzer Engineering Laboratories, Inc. (SEL)
- Arbiter Systems, Inc.
- Vizimax Inc.
- Powerside
- ERLPhase Power Technologies Ltd.
- ABB Ltd.
- Siemens AG
- General Electric Company
- NR Electric Co., Ltd. (NARI Technology Development Limited Co.)
Methodology
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