Study papers on Volt/VAr Management market and regional forecast. Volt/VAr Management market players are ABB (Switzerland), Schneider Electric(France), Siemens AG (Germany), GE (US), and Eaton (Ireland).
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Volt/VAr management market is projected to grow from an estimated USD 398.9 million in 2017 to USD 527.1 million by 2022, at a CAGR of 5.73%, from 2017 to 2022. The need to reduce distribution losses and operational costs and optimize power factor, the increasing complexity of distributed energy generation, and rising demand for electricity are driving the market across the world.
High initial costs for the deployment of volt/VAr management is a restraint for the market.
- Volt/VAr management companies
- Electric utility players
- Renewable energy power generation players
- Engineering, procurement, and construction companies in the transmission and distribution sector
- Government and research organizations
- Power transmission and distribution companies
North America is the largest market for volt/VAr management, followed by Europe.
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Reducing power losses would lead to an increase in investments in volt/VAr management. This would also boost the demand for volt/VAr management in North America.
The US and Canada are expected to grow at a fast pace during the forecast period.
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The distribution segment is expected to dominate the volt/VAr management market during the forecast period. The rise in the deployment of smart grids and a need to reduce power outages and faults in distribution feeders are the major drivers of the distribution segment of the volt/VAr management market.
North America is expected to be the largest and the fastest-growing distributionvolt/VAr management market.
2 Market Ranking Analysis, 2016
3 Competitive Scenario
3.1 New Product Developments
3.2 Contracts & Agreements
3.3 Others (Partnerships/Collaborations/ Joint Ventures/Awards & Recognitions)
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For the purpose of this report, the market has been segmented on the basis of application, component, end-user, and region with a focus on industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the volt/VAr management market, high-growth regions, and market drivers, restraints, and opportunities.
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