The global Phase Shifting Transformer (PST) for Renewable Energy market is experiencing significant growth due to the rising adoption of renewable energy sources such as hydropower,wind power,and photovoltaic systems. Major players in this market include Siemens Energy,Hitachi Energy,GE Vernova,Tamini Transformers,Hyosung Heavy Industries,ABB,Eaton,Toshiba,SGB-SMIT Group,Wilson Transformers,Emek,JSHP Transformer,Varelen Electric,Baoding Tianwei Baobian Electric,Shenzhen Sikes Electric,and Eaglerise.
The market is projected to grow at a compound annual growth rate (CAGR) of 6.0% to 8.5% during the forecast period from 2025 to 2030,driven by the increasing need for grid stability and energy optimization in renewable energy applications.
The market is segmented by application into hydropower,wind power,photovoltaic,and others:
The phase shifting transformer market is segmented into direct PSTs and indirect PSTs:
The regional market distribution highlights significant growth opportunities:
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