Voltage/VAR management technologies are used by the power industry to reduce electric line losses and increase grid efficiency. Voltage/VAR management or control is essential for the performance of electrical utility, such as ability to deliver power within appropriate voltage limits for proper operation of consumer equipment and to minimize losses.
Increased renewable power integration, improvements in energy efficiency and system voltages in the distribution system, and reduction in the environmental impact of energy delivery drive the growth of the global Volt/VAR systems market. However, requirement of high initial costs impede the market growth. Enhanced energy efficiency offers a major opportunity for market expansion.
The global Volt/VAR systems market is segmented on the basis of the solution and region. Based on a solution, it is bifurcated into Volt/VAR control, distribution voltage optimization, conservation voltage reduction, distribution Volt/VAR control, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global Volt/VAR systems market is dominated by key players such as ABB, General Electric Company, Schneider Electric, Siemens AG, Silver Spring Networks, Beckwith Electric Co., Inc., Eaton, GRIDCO SYSTEMS, S&C Electric Company, and Varentec.
- The study provides an in-depth analysis of the global Volt/VAR systems market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porters Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis of the global market from 2017 to 2023 is provided to determine the market potential.
Volt/VAR Systems Market Key Segments:
- Volt/VAR Control
- Distribution Voltage Optimization
- Conservation Voltage Reduction
- Distribution Volt/VAR Control
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- General Electric Company
- Schneider Electric
- Siemens AG
- Silver Spring Networks
- Beckwith Electric Co., Inc.
- GRIDCO SYSTEMS
- S&C Electric Company