DUBLIN--(BUSINESS WIRE)--The "Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware component and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering
The volt/VAr management market is projected to grow from an estimated USD 398.9 million in 2017 to USD 527.1 million by 2022, at a CAGR of 5.73%, from 2017 to 2022.
The need to reduce distribution losses and operational costs and optimize power factor, the increasing complexity of distributed energy generation, and rising demand for electricity are driving the market across the world. High initial costs for the deployment of volt/VAr management is a restraint for the market.
The distribution segment is expected to dominate the volt/VAr management market during the forecast period. The rise in the deployment of smart grids and a need to reduce power outages and faults in distribution feeders are the major drivers of the distribution segment of the volt/VAr management market. North America is expected to be the largest and the fastest-growing distribution volt/VAr management market.
North America is the largest market for volt/VAr management, followed by Europe. Reducing power losses would lead to an increase in investments in volt/VAr management. This would also boost the demand for volt/VAr management in North America. The US and Canada are expected to grow at a fast pace during the forecast period.
The leading players in the volt/VAr management market are ABB (Switzerland), Schneider Electric (France), Siemens AG (Germany), GE (US), and Eaton (Ireland).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Volt/VAr Management Market, By Application
7 Volt/VAr Management Market, By Component
8 Volt/VAr Management Market, By End-User
9 Volt/VAr Management Market, By Region
10 Competitive Landscape
11 Company Profiles
- Advanced Control Systems
- Beckwith Electric
- Dc Systems
- Open Systems International
- S&C Electric Company
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/research/zlt9z8/voltvar?w=4