Volt/Var Management Market 2019 Global Analysis, Size, Growth, Merger, Share, Trends, Competitive Landscape, Statistics, And Regional Forecast To 2024
Global Volt/Var Management Market to Rise At 6% CAGR by 2024, according to Volt/Var Management Market 2019 Global Industry Analysis To 2024 report published by Market Research Future. Volt/Var Management Industry report anlayzes Market for Volt/Var Management till 2024.
Pune, India – July 1, 2019 /MarketersMedia/ —
Global Volt/Var Management Market to Rise At 6% CAGR by 2024, according to Volt/Var Management Market 2019 Global Industry Analysis To 2024 report published by Market Research Future. Volt/Var Management Industry report anlayzes Market for Volt/Var Management by Application (Distribution & Transmission), Component (Hardware and Software & Services), End-Use (Utilities and Industrial), and Region with Forecast To 2024.
Major Volt/Var Management Companies covered in the market report include VArentec, Eaton, GE, Schneider Electric, Siemens, Advanced Control Systems, Landis+Gyr, Open Systems International, Utilidata, Beckwith Electric, DC Systems, S&C Electric Company, and ABB.
Free Sample “Volt/Var Management Market Research Report – Global Forecast till 2024” report at: https://www.marketresearchfuture.com/sample_request/7649
Global Volt/Var Management Market Highlights:
Volt/var management solutions help to reduce the loss of energy by decreasing reactive power flows, reducing peak power through voltage reduction and keep the voltage within limits. Some of its essential functions include conservation voltage reduction, integration of renewables and distributed energy sources, grid storage integration, network re-configuration, and enhanced voltage control. The global volt/var management market is predicted to have a notable growth at 6.50% CAGR over the forecast period (2019-2024).
There are ample benefits of using volt/var management solutions such as effective use of the distribution network, augment significant voltage control, boost network hosting capacity, reduce energy losses and improved power supply quality with better voltage profiles.
Various factors are pushing the growth of the volt/var management market. These factors in accordance to the Market Research Future (MRFR) report include increasing need for electricity, distributed energy generation complexity, reduction in operational expenditure, optimization of power factor, growing emphasis to reduce distribution losses, growing use of smart grids, improved technological advancement, need to reduce power outage and rising government outgoings on power infrastructure.
The additional factors boosting the market growth include growing renewable power generation, decrease in the environmental impact of delivering energy, and lower operational costs and various benefits such as lesser bills, lower environmental emissions, and reduced power consumption through proper voltage regulation. Using advanced algorithms and intelligent electronic devices can help to control the level of voltage in real time for optimizing the flow of power and also reduce the consumption of energy. This, in turn, is predicted to develop several growth opportunities for the market in the coming years.
Global Volt/Var Management Market Segments:
Market Research Future report offers a wide segmental analysis of the volt/var management market on the basis of the volt/var management market on the basis of application, component, and end-use.
Based on application, the volt/var management market is segmented into the transmission sector and distribution sector. Of these, the distribution segment will have the largest share in the market over the forecast period. This is owing to an increase in the deployment of smart grids coupled with the requirement to reduce power faults and outages in distribution feeders.
Based on the component, the volt/var management market is segmented into software and services, smart sensors, voltage regulators, capacitor banks, hardware, and others. Of these, the hardware segment will domineer the market over the forecast period.
Based on end-use, the volt/var management market is segmented into industrial and utilities. Of these, utilities will have a significant share in the market over the forecast period.
Regional Analysis:
By region, the Volt/Var Management market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America will command the market over the forecast period. In the US, the DERs (distributed energy resources) is predicted to have significant growth across the US in the following five years. Five classes of behind-the-meter DERs in 2017 such as energy storage, electric cars, and distributed solar, small-scale combined power and heat systems contributed about 46.4 GW of impact on US summer peak. This figure by 2023 is predicted to be 104 GW flexible capacity. Also, electric utilities engage customers on DER front. These factors are predicted to boost the distribution network’s complexities leading to voltage fluctuations and imbalance.
Besides increasing investment in the T&D sector and smart grids and advanced distribution management systems are projected to register in the global volt/var management market. The US, along with Canada, is predicted to expand at a fast pace over the forecast period. The volt/var management market in the APAC region is likely to register faster CAGR over other regions as it is backed via advanced transmission management system and distributions.
TABLE OF CONTENTS:
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
6 Global Volt/Var Market, By Application
6.1 Introduction
6.2 Distribution Sector
6.2.1 Market Estimates & Forecast, 2017–2024
6.2.2 Market Estimates & Forecast, By Region, 2017–2024
6.3 Transmission Sector
6.3.1 Market Estimates & Forecast, 2017–2024
6.3.2 Market Estimates & Forecast, By Region, 2017–2024
7 Global Volt/Var Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 Market Estimates & Forecast, 2017–2024
7.2.2 Market Estimates & Forecast, By Region, 2017–2024
7.2.3 Capacitor Banks
7.2.3.1 Market Estimates & Forecast, 2017–2024
7.2.3.2 Market Estimates & Forecast, By Region, 2017–2024
7.2.4 Voltage Regulators
7.2.4.1 Market Estimates & Forecast, 2017–2024
7.2.4.2 Market Estimates & Forecast, By Region, 2017–2024
7.2.5 Smart Sensors
7.2.5.1 Market Estimates & Forecast, 2017–2024
7.2.5.2 Market Estimates & Forecast, By Region, 2017–2024
Continued…
LIST OF TABLES:
TABLE 1 GLOBAL VOLT/VAR MARKET, BY REGION, 2017–2024 (USD MILLION)
TABLE 2 NORTH AMERICA VOLT/VAR MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 3 EUROPE VOLT/VAR MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 4 ASIA-PACIFIC VOLT/VAR MARKET, BY COUNTRY, 2017–2024 (USD MILLION)
TABLE 5 MIDDLE EAST & AFRICA VOLT/VAR MARKET, BY REGION, 2017–2024 (USD MILLION)
Continued…
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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