PORTLAND, Ore., April 30, 2024 /PRNewswire/ -- Voltage
regulators are crucial in maintaining the performance of electrical
systems by precisely controlling voltage levels. The voltage
regulators market is expected to expand, promoting sustainable
and decentralized energy infrastructure. Increase
in investment towards the development of renewable energy resources
and construction of smart cities across the developed and
developing countries have a positive impact on the voltage
regulator market.
Allied Market Research published a report, titled, "Voltage
Regulator Market by Type (Linear
and Switching), Technology (Electro-Mechanical Voltage
Regulator, Electronic Tap-Switching Voltage Regulator, and
Ferro-Resonant Voltage Regulator), Phase (Single Phase
and Three Phase), Voltage (Less than 250 kVA, 250 KVA to
500 kVA, and More than 500 kVA), and Application (Residential,
Commercial, and Industrial): Global Opportunity Analysis and
Industry Forecast, 2024-2033". According to the report, the
"voltage regulator market" was valued at $2.8 billion in 2023, and is estimated to reach
$4.7 billion by 2033, growing at a
CAGR of 5.3% from 2024 to 2033.
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Prime determinants of voltage regulator market growth
The voltage regulator market is experiencing growth due to
several factors such as increase in demand for power quality, rise
in demand for electronics and electrical appliances, and
increase in number of infrastructure development projects. However,
the volatility of raw material prices and challenges in voltage
regulation for high-voltage systems hinder the market growth.
Moreover, the expansion of smart grid infrastructure and the
growing industrialization of emerging economies provide
opportunities for expanding the voltage regulator market.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2033
|
Base Year
|
2023
|
Market Size in
2023
|
$2.8 billion
|
Market Size in
2033
|
$4.7 billion
|
CAGR
|
5.3 %
|
No. of Pages in
Report
|
310
|
Segments
Covered
|
Type, Technology,
Phase, Voltage, Application, and Region
|
Region Scope
|
North America, Europe,
Asia-Pacific, and LAMEA
|
Country
Scope
|
U.S., Canada, Mexico;
Germany; UK; France; Italy; Spain; China; Japan; India; South
Korea; Australia; Brazil; Saudi Arabia; and South
Africa.
|
Drivers
|
Increasing demand for
power quality
Rising demand for
electronics and electrical appliances
Infrastructure
development projects
|
Opportunity
|
Expansion of smart grid
infrastructure
Growing
industrialization of emerging economies
|
Restraint
|
Volatility of raw
materials prices
Challenges in voltage
regulation for high voltage systems
|
The linear segment is expected to grow faster during the
forecast period.
By type, the linear segment held the highest market share in
2023, accounting for more than three-fifths of voltage regulator
market revenue. Linear voltage regulators dominate the market due
to their simplicity, low noise output, and excellent response to
voltage fluctuations, making them ideal for applications requiring
stable and clean power supply. Their widespread use in sensitive
electronic devices underscores their reliability and effectiveness
in precision voltage control. However, the switching segment is
projected to attain the highest CAGR of 5.5% from 2024 to
2033. Switching voltage regulators are highly demanded in the
market due to their efficiency in converting energy at high rates,
minimizing heat generation, and providing stable output despite
varying input voltages. Their compact size and adaptability to a
range of power applications make them ideal for both portable
devices and industrial machinery.
The electro-tap switching voltage segment is expected to grow
faster during the forecast period.
By technology, the electro-tap switching voltage segment held
the highest market share in 2023, accounting for more than
two-fifths of voltage regulator market revenue. Electro-tap
switching voltage regulators dominate the market as they offer
precise voltage control with high efficiency and rapid response to
load changes. Their robustness in handling varied power demands
makes them ideal for applications requiring stable power,
particularly in high-performance environments like data centers and
industrial automation. However, the electro-mechanical voltage
regulator segment is projected to attain the highest CAGR of 5.9%
from 2024 to 2033. Electro-mechanical voltage regulators are in
high demand in the market due to their robustness, reliability, and
cost-effectiveness. They provide precise voltage control, essential
for ensuring the stability and safety of electrical systems, making
them particularly suitable for heavy-duty applications across
various industrial and automotive sectors.
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The three-phase segment is expected to lead the trail by
2032
By phase, the three-phase segment held the highest market share
in 2023, accounting for more than two-thirds of the voltage
regulator market revenue, and is estimated to dominate during the
forecast period. Three-phase voltage regulators dominate the market
as they efficiently manage voltage stability across extensive
and complex electrical systems typical in industrial, commercial,
and utility applications. Their ability to evenly distribute power
and handle higher loads ensures optimal performance and reliability
in environments with significant electrical demand. However, the
single phase segment is projected to attain the highest CAGR of
5.7% from 2023 to 2032. Single-phase voltage regulators have high
demand in the market primarily as they are essential for
residential and light commercial applications, where single-phase
power is commonly used. Their affordability, simplicity, and
effectiveness in stabilizing voltage for everyday electronic
devices and household appliances further drive their widespread
adoption.
The 250 kVA to 500 kVA segment is expected to lead the trail
by 2032
By voltage, the 250 kVA to 500 kVA segment held the highest
market share in 2022, accounting for nearly half of the voltage
regulator market revenue, and is estimated to dominate during the
forecast period. However, the less than 250kVA segment is
projected to attain the highest CAGR of 5.8% from 2024 to 2033. The
rapid growth of the less than 250 kVA voltage regulator market is
primarily fueled due to its wide range of applications, including
residential, commercial, and small industrial setups. These
applications require voltage regulators for stable power supply for
electronic equipment, appliances, and machinery. The demand for
voltage regulators in this segment is widespread and consistent.
The proliferation of small-scale renewable energy systems, such as
solar photovoltaic installations and wind turbines, also
contributes to the development of the less than 250 KVA
segment.
The industrial segment dominates the market by 2033
By application, the industrial segment held the highest market
share in 2022, accounting for more than two-fifths of the voltage
regulator market revenue, and is estimated to dominate during the
forecast period. However, the residential segment is projected to
attain the highest CAGR of 5.7% from 2024 to 2033. The residential
voltage regulator market is experiencing rapid growth due to
increasing adoption of rooftop solar photovoltaic (PV) systems
among homeowners. This has created a need for energy storage
solutions to maximize the self-consumption of solar energy and
provide backup power during grid outages.
The Asia-Pacific segment
dominates the market by 2033
Region-wise, Asia-Pacific held
the highest market share in 2022, accounting for nearly half of the
voltage regulator market revenue, and is estimated to dominate
during the forecast period. However, the Asia-Pacific segment is projected to attain
the highest CAGR of 5.6% from 2024 to 2033. The combination of
growing energy demand, renewable energy deployment, supportive
government policies, technological advancements, and a thriving
supply chain is fueling the high demand and rapid growth of the
voltage regulator market in the Asia-Pacific region.
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Leading Market Players: -
- Siemens AG
- General Electric
- Eaton Corporation
- ABB Ltd.
- Legrand
- Hindustan Power Control System
- ROHM Co. Ltd.
- STMicroelectronics
- Infineon Technologies AG
- Toshiba Energy Systems & Solutions Corporation.
The report provides a detailed analysis of these key players in
the voltage regulator market. These players have adopted different
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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