Market Scenario
Market Research Future (MRFR), in its latest report sheds light on the impact of COVID-19 pandemic in the global Volt/VAR management market 2020. MRFR study shows that the Volt/VAR management market can rise at 6.50% CAGR in the forecast period 2017 to 2024.
The growing focus on the need to curb transmission and distribution (TD) losses, cut operational cost, boost in the demand for electricity, and increase in the complexity of distributed energy generation are observed as major factors that can drive the expansion of the Volt/VAR management market in the years to come.
Across the review period, the growing utility of Volt/VAR devices across numerous sectors can prompt the expansion of the world market of Volt/VAR management market in the near future. In addition, the presence of favorable regulations and government incentives to achieve system-wide energy savings can boost the expansion of the Volt/VAR management market growth in the years to come.
Market Segment
The segment study of the Volt/VAR management market is based on application, end-user, and component.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7649
The application based segments of the Volt/VAR management market are distribution sector and transmission sector. The component based segments of the Hardware Volt/VAR management market are voltage regulators, software services, smart sensors, capacitor banks, and others. The end-use market segments are industrial and utilities.
The hardware segment can gain high traction due to the growing utility of Volt/VAR management hardware in the upcoming power generation projects. The application of Volt/VAR management in both renewable and conventional power sectors can promote the Volt/VAR management market growth in the assessment period. The increase in utilities application of Volt/VAR management due to industrialization and rise in urban population base can boost expansion of the world market in the near future. The distribution sector is the high end–user of Volt/VAR management solutions. This can contribute to the promotion of the Volt/VAR management market across the assessment period.
Detailed Regional Study
The regional study of the Volt/VAR management market is done across major economies of the world. MRFR study shows that the Volt/VAR management market in North America is projected to rise at significant growth rate in the study period. It is due to modern technological advancements that are being deployed in the TD network, across the world. The change in electricity consumption pattern throughout the region can result in TD losses. The rise in to curb TD can trigger the need for effective system to mitigate these losses that occur due to complex electricity TD network. The wider range application of Volt/VAR management solutions across North America can boost the expansion of the regional market. In the Asia Pacific region, the active participation of government in different Asian economies due to the rise in the need for energy efficiency in the TD network can bolster the regional market. The regional market is observed to witness heavy investment from energy providers in the renewable energy sector. This is observed to increase the number of Volt/VAR system installation in different locations. The rise in these activities can make Asia Pacific the region to experience the fastest expansion of the Volt/VAR management market.
Request for Report Discount: https://www.marketresearchfuture.com/check-discount/7649
Key Players
MRFR profiled some reputed players operating in the Volt/VAR management market. They were identified on the basis of origin and regional establishments, products and developments, and financial aspects of the market.
- GE
- Eaton
- DC Systems
- Schneider Electric
- Advanced Control Systems
- ABB
- SC Electric Company
- Landis+Gyr
- Beckwith Electric
- Utilidata
- Siemens
- Open Systems International
- VArentec
For More Details On this Report:https://www.marketresearchfuture.com/reports/volt-var-management-market-7649
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
