Volt/VAr Management Market Size, Share, Analysis, Regional Outlook and Forecast 2019-2024

The global volt/VAr management market is estimated to be worth USD 427 million in 2019 and is projected to reach USD 568 million by 2024, growing at a CAGR of 5.9%, 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.

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 plans for upgrading the existing infra 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 volt/VAr management market growth during the forecast period.

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The hardware segment is expected to dominate the volt/VAr management market, by component, in 2018.

Based on the component, the hardware segment is expected to grow at the fastest rate from 2019 to 2024 due to a need to reduce system-wide losses and minimize the distribution system & 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 for five 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 during the forecast period. Increasing investments in renewable energy and volt/VAr optimization projects in the utility sector are the key factors driving the volt/VAr management market in North America.

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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. Some of the key players in the volt/VAr management market 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 adopting various strategies to increase their shares in volt/VAr management market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Coiled Tubing Market Latest Trends, Development, Growth Analysis And Forecast by 2025

 The global coiled tubing market size is projected to reach USD 4.0 billion by 2025 from an estimated USD 3.0 billion in 2020, at a post COVID-19 CAGR of 5.8% during the forecast period. Stabilized oil prices have revitalized the exploration & production expenditures globally. This has led to increased investments in the enhancement of productivity of oil & gas wells. Furthermore, the global coiled tubing industry is driven by the upsurge in the oil & gas production by countries owing to rising demand from the Asia Pacific.

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North America is estimated to be the fastest-growing market for coiled tubing during the forecast period. The region has been segmented, by country, into the US and Canada. The increasing shale oil & gas production in the North America region is driving the coiled tubing market. According to the BP statistical report for June 2019, the US is the top producer of oil, producing 15.3 billion barrels of oil, in 2018. Moreover, the country has been experiencing huge investments from upstream operators to increase the production from the depleting fields in Texas, Permian Basin, and the Gulf of Mexico, along with new drilling activities in ultra-deepwater locations in the Gulf of Mexico, which is likely to drive the North American coiled tubing market.

The coiled tubing market, by service, is segmented into well intervention service, drilling service, and others. Others include minor services such as fishing, fracturing, wireline logging, and inspection. Well Intervention services is the fastest growing market by region and are also observed as new revenue pockets. These services are further sub-segmented as well cleaning & pumping operations and well completions & mechanical operations. The challenges faced by oilfield operators during the well completion and production phase include the accumulation of hard scale, water shutoff, and formation damage. Coiled tubing helps in addressing these challenges through descaling operations, reperforation, and zonal isolation.

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The coiled tubing market, by application, is categorized into onshore and offshore. The African offshore segment is expected to provide many opportunities for the coiled tubing market in the future, owing to huge drilling activities in offshore Angola and Mozambique gas production activities. The activities in offshore oilfield environments are comparatively more complex than onshore oil & gas fields thus, there is an increasing demand for digitization in offshore oil & gas fields. Furthermore, the investments to revive the mature onshore fields are expected to offer lucrative opportunities for the coiled tubing manufacturers during the forecast period.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newlsetter@marketsandmarkets.com

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Coiled Tubing Market

Distribution Automation Market Development Opportunities Accelerate in 2025

The distribution automation market size is expected to grow from an estimated value of USD 12.4 billion in 2020 to USD 17.7 billion by 2025, at a CAGR of 7.4% from 2020 to 2025. The need for improved grid reliability and operating efficiency and increasing investments to upgrade aging grid infrastructure are expected to drive the growth of the distribution automation market during the forecast period.

Asia Pacific is estimated to be the largest market for distribution automation during the forecast period. The growth of this region is attributed to increasing investments in grid modernization to enhance efficiency. To meet the growing energy demand, the region is also increasingly focused on renewable energy integration.

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The distribution automation market has been segmented based on component into field devices, software, and services. The field devices segment is expected to be the largest market during the forecast period. This segment’s growth can be attributed to increasing investments to modernize the electric grid, improve interoperability, and collect real-time data.

Based on communication technology, the market has been segmented to wireless and wired. The wireless segment is expected to witness a higher CAGR than the wired segment during the forecast period. Wireless communication technology offers easy accessibility. It also ensures cost savings and provides secure data transmission, which acts as significant driving factors for the segment’s growth.

This research report categorizes the distribution automation market by component, communication technology, utility, and region

By Component:

• Field Devices
  • Remote Fault Indicators
  • Smart Relays
  • Automated Feeder Switches/Reclosers
  • Automated Capacitors
  •  Automated Voltage Regulators
  • Automated Feeder Monitors
  • Transformer Monitors
  • Remote Terminal Units
• Software
• Services

By Communication Technology:

• Wireless
  • Radio Frequency Mesh
  • Cellular Networks
  •  WiMAX
• Wired
  • Fiber Optic
  • Ethernet
  • Powerline Carrier
  • IP

By Utility:

• Public
• Private

By Region:

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa

Based on utility, the market has been segmented into public and private. The public segment is estimated to lead the market from 2020 to 2025. The growth of this segment is driven by the increasing number of publicly owned electric utilities across all regions. Public utilities are generally owned by local, regional, or national government bodies, which either operate through their own generation facilities or purchase power through contracts.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of top players in the distribution automation market. Some of the major market players include ABB (Switzerland), Eaton (Ireland), GE (US), Schneider Electric (France), and Siemens (Germany). These leading market players adopt various growth strategies to increase their share and presence in the distribution automation market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com