Sarasota, FL -- (SBWIRE) -- 06/22/2018 -- Global Volt/VAr Management Market: Overview
Volt/VAr management technologies are mainly used by the power manufacturing industry to decrease any kind of electric line losses as well as to increase the grid effectiveness. Volt/VAr management is necessary for the function of electrical effectiveness, such as the capability to deliver energy within suitable voltage limits for correct operation of consumer tools and to reduce losses.
Improvements in energy efficiency increased renewable power integration and system voltages in the distribution system, and a decrease in the ecological effect of energy delivery is likely to boost the expansion of the global Volt/VAR management market.
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Global Volt/VAr Management Market: Growth Factors
Growing deployment of smart grids, increasing demand for electricity, improved technological advancement, increase in government outgoings on power infrastructure, and the need of reduction of power outages are some of the aspects that are likely to fuel the demand and requirement for the global Volt/VAr management market in the coming years. The developed regions are projected to remain as strong contributors for the global Volt/VAr management market in the coming years, due to high investment in smart grids as well as wide usage of power solutions. The developing regions are anticipated to grow at a faster rate.
On the other hand, the requirement of high preliminary costs obstructs the market development. Improved energy efficiency offers the main opportunity and prospect for the global market expansion.
Global Volt/VAr Management Market: Segmentation
The global Volt/VAr management market is classified in terms of application, end-user, and component. In terms of application, the global Volt/VAr management market is categorized into transmission, distribution, and generation. In terms of end-user, the global Volt/VAr management market is bifurcated into industrial and electric utility. In terms of component, the global Volt/VAr management market is divided into software & services and hardware.
The distribution division is likely to be driven by ventures in smart grids and the requirement to decrease faults in distribution feeders and power outages. New T&D projects and upcoming upgradation in economies such as China, the U.S., India, France, the UK, Norway, Spain, Belgium, Denmark, and Ireland are projected to propel the demand and requirement for the global Volt/VAr management market in the coming future.
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Global Volt/VAr Management Market: Regional Analysis
The global Volt/VAr management market has been classified into five major regions, which includes Europe, South America, North America, the Middle East & Africa, and the Asia Pacific. The North American market is projected to lead and dominate the global Volt/VAr management market. Volt/VAr optimization projects in the utility sector and growing investments in renewable energy sources are the major aspects fuelling the global Volt/VAr management market in North America.
North America is likely to be followed by Europe. Decreasing power losses can lead to a boost in ventures in the Volt/VAr management market in Europe. This is also one of the factors that are propelling the demand and requirement for the global Volt/VAr management market in North America. Canada and the U.S. are the countries that are projected to develop at a quick pace in the coming future.
Global Volt/VAr Management Market: Competitive Players
Some of the most important market players in the global Volt/VAr management market are Landis+Gyr., Schneider Electric, ABB, GE, Siemens, Open System International, Eaton, Varentec, and Utilidata, among others.
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Global Volt/VAr Management Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa