Volt/VAr Management Market Size, Share & Forecast Analysis

Q: What will be the growth of VoltVAr Management Market in the foreseeable future

The VoltVAr management market is expected to witness an impressive growth of 60 CAGR in the foreseeable future

Q: Who are the key players in the VoltVAr Management Market

ABB Schneider Electric Siemens GE Eaton are among the key players in the VoltVAr management market

Q: Which region is expected to dominate the VoltVAr Management Market

North America is expected to dominate the VoltVAr management market during the forecast period

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Report Summary

Table of contents

Market Insights

Volt/VAr Management Market is likely to witness an impressive CAGR of 6.0% during the forecast period. The growing demand for high voltage application and reduction in power is driving the market during forecast period.

Market Snapshot
Growth	6.0% for the next five years
Major End-User Type	Electric Utility
Major Application Type	Distribution
Major Component Type	Hardware
Region with the highest demand	North America
Key Players	ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), Eaton (Ireland).

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What is Volt/VAr Management?

Volt/VAr management reduces energy loss by reducing reactive power flows, keeping voltages within the limits and also limiting peak power by reducing voltage. The fault awareness of medium voltage and low voltage grid is the first step towards updated grid automation. It helps in increasing network hosting capacity and provides better voltage control.

Segment Analysis

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By Application Type

The market is segmented as distribution, generation, and transmission. The transmission segment leads the market driven by increase in number of smart grid projects and rise in electricity demand from the residential sector and also reduction in power outages and fault in distribution feeders.

By Component Type

The market is segmented as hardware and software & services.

The hardware segment held the larger share of the market in 2020, and is expected to maintain its dominance during 2021-2026.
Countries such as the UK, the US, France, Ireland, Norway, India, and China are coming up with new power generation projects in the renewable and non- renewable power and transmission & distribution which is expected to drive the market during the review period.
The rise in numbers of substation automation projects in such regions is boosting the market growth.

By End-User Type

The market is segmented as electric utility and industrial.

The electric utility segment is estimated to be the larger segment of the market and is projected to capture the major share during the forecast period.
The segment is driven by rising investment in power generation for renewable sources.

Volt/VAr-Management-Market-By-Region

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By Region

North America is expected to dominate the market during 2021-2026.
The region's growth is attributed to the increasing investment in volt/VAr and renewable energy projects in the utility sector and reduction in power loss. Countries such as the US and Canada are expected to grow at the fastest rate during the forecast period.

Segments covered in this report:

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Report - Features
Market Segmentation	4
Regions Covered	4
Countries/Sub-Regions Covered	15
No. of Figures & Tables	>150
Company Profiles	10

Segment Wise Analysis-

by Application Type:

Distribution
Transmission
Generation

by Component Type:

Hardware
Software & Services

by End-User Type:

Electric Utility
Industrial

by Region:

North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the major players in the volt/var management market are-

ABB
Schneider Electric
Siemens
GE
Eaton

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the companies across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

Overview, industry life cycle analysis, supply chain analysis
Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Trend and forecast analysis
Segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)

Segmentation

Current market segmentation of any one of the component types by end-user type.

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.