The report "Volt/VAr
Management Market by Application (Distribution, Transmission, and Generation),
Component (Hardware component and Software and Services), End-User (Electric
Utility and Industrial), and Region - Global Forecast to 2022", The
global volt/VAr management market is estimated to be USD 398.9 Million in 2017
and is projected to reach USD 527.1 Million by 2022, growing at a CAGR of
5.73%, during the forecast period. The market is set to grow due to a focus on
the reduction of electricity losses in power distribution, a need to optimize power
factor, and rising electricity demand.
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The
distribution segment is expected to hold the largest share of the volt/VAr
management market, by application, during the forecast period.
The distribution segment is driven by investments in
smart grids and a need to reduce power outages and faults in distribution
feeders. Upcoming upgradation and new T&D projects in economies such as the
US, China, India, the UK, France, Spain, Norway, Denmark, Belgium, and Ireland
are expected to boost the demand for volt/VAr management during the forecast
period.
Browse and in-depth TOC on "Volt/VAr Management Market"
61 - Tables
29 - Figures
137 - Pages
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of Content here:
The hardware segment is
expected to dominate the volt/VAr management market, by component, in 2017.
Based
on component, the hardware segment is expected to grow at the fastest rate from
2017 to 2022. This segment is expected to grow at a steady pace due to a need
to reduce system-wide losses and minimize distribution system and customer
voltage variations. The increasing number of substation automation projects
will drive the market during the forecast period.
North America is
expected to be the leading market for volt/VAr management during the forecast
period.
The
volt/VAr management market has been analyzed with respect to 5 regions, namely,
North America, Europe, Asia Pacific, the Middle East & Africa, and South
America. The North American market is expected to lead the volt/VAr management
market, by region. Increasing investments in renewable energy and volt/VAr
optimization projects in the utilities sector are the key factors driving the
volt/VAr management market in North America.
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The report’s target audience
includes:
·
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
To
enable an in-depth understanding of the competitive landscape, the report
includes the profiles of some of the top players in the volt/VAr management
market. These include ABB (Switzerland), Schneider Electric (France),
Siemens (Germany), GE (US), Eaton (Ireland), Open System International (US),
Utilidata (US), Varentec (US), and Landis+Gyr (Switzerland). The leading
players are trying to understand the markets in developing economies and are
adopting various strategies to increase their market shares.
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