Volt/VAr Management - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Volt/VAr Management Market is accounted for $409.68 million in 2018 and is expected to reach $792.06 million by 2027 growing at a CAGR of 7.6% during the forecast period. Factors such as growing investment in distributed generation, rising need to reduce T&D losses, increasing in renewable power generation and reducing the operational cost are driving the market growth. However, the high initial cost of installation is hampering market growth.
Volt/VAR is an advanced management system that determines the most appropriate set of control actions for all voltage regulating devices and VAR control devices to achieve more specified operating objectives without violating any of the fundamental operating constraints.
Based on the application, the electric utility segment is going to have a lucrative growth during the forecast period. Increasing investments in distributed power generation for renewable sources such as solar and wind and the implementation of volt/VAr management projects for voltage & power optimization are expected to drive the electric utility segment.
By Geography, North America is likely to have a huge demand due to the 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.
Some of the key players in global Volt/VAr Management market are Eaton, Siemens, DC Systems, ABB, Open Systems International, GE, Advanced Control Systems, Varentec, Schneider Electric, Beckwith Electric, Landis+Gyr, S&C Electric Company, DVI and Utilidata.
• Software & Services
End Users Covered:
• Electric Utility
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.