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    Volt VAr Management Market Report

    Volt VAr Management Market Report
    Report code - SRCE294 Delivery - 2 Weeks
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    Volt/VAr Management Market Size, Share, Trend, Forecast, & Industry Analysis – 2 See more...

    Impact of COVID-19 on Volt VAr Management Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Volt VAr Management Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    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.

    Volt/VAr Management 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).

    Segment Analysis

    Volt/VAr-Management-Market-Dominant-Segments

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    Volt/VAr Management Market Share: By Application Type

    Based on the 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.

    Volt/VAr Management Market Share: By Component Type

    Based on the component type, the market is segregated 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 the forecast period.  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 forecast period. The rise in numbers of substation automation projects in such regions is boosting the market’s growth.

    Volt/VAr Management Market Share: By End-User Type

    Based on the 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 Share: By Region

    In terms of regions, North America is expected to dominate the volt/var management market during the forecast period. 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.

    Volt/VAr-Management-Market-By-Region

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    Market Scope & Segmentation

    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.  

    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.

    Volt/VAr Management Market Research Report - Features

    Market Segmentation                                                     

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The Volt/VAr Management market is segmented into the following categories. 

    Volt/VAr Management Market Size, Share, & Forecast, by Application Type:

    • Distribution (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transmission (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Volt/VAr Management Market Size, Share, & Forecast, by Component Type:

    • Hardware (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Software & Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Volt/VAr Management Market Size, Share, & Forecast, by End-User Type:

    • Electric Utility (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Volt/VAr Management Market Size, Share, & Forecast, 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)

    Volt/VAr-Management-Market-Segmentation

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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 800 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 market players 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 market 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 market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market 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)

    Market 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 [email protected]

    Frequently Asked Questions (FAQs)

    The Volt/VAr management market is expected to witness an impressive growth of 6.0% CAGR in the foreseeable future.

    ABB, Schneider Electric, Siemens, GE, Eaton are among the key players in the Volt/VAr management market.

    North America is expected to dominate the Volt/VAr management market during the forecast period.

    Countries like US and Canada are expected to grow at the fastest rate in the Volt/VAr management market in the coming five years.

    The electric utility segment is expected to be the larger end user type in the Volt/VAr management market during the next five years.

    The hardware segment is expected to remain dominant in the Volt/VAr management market during the forecast period.

    The growing demand for high voltage application and reduction in power is the factor driving the growth of the Volt/VAr management market in the coming years.

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