NEW YORK, Feb. 21, 2018 /PRNewswire/ -- Read the full
report: https://www.reportlinker.com/p05339876
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 be the fastest growing
volt/VAr management market, by application, during the forecast
period.
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: The key market
for volt/VAr management
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.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry
participants, subject-matter experts, C-level executives of key
market players, and industry consultants, among other experts, to
obtain and verify critical qualitative and quantitative
information, as well as to assess future market prospects. The
distribution of primary interviews is as follows:
- By Company Type: Tier 1- 35%, Tier 2- 28%, Tier 3- 37%
- By Designation: C-Level- 20%, D-Level- 25%, Others- 55%
- By Region: North America- 42%,
Europe- 22%, Asia Pacific- 18%, Middle East & Africa- 15%, South
America- 3%
Note: The tier of the companies has been defined on the basis of
their total revenue; as of 2016: Tier 1 = >USD 1 billion, Tier 2 = USD 1 billion to USD 500
million, and Tier 3 =
Note: Others includes product engineers, sales managers, regional
managers, consultants, and technical experts
The leading players in the volt/VAr management market are ABB
(Switzerland), Schneider Electric
(France), Siemens AG (Germany), GE
(US), and Eaton
(Ireland).
Research Coverage:
For the purpose of this report, the market has been segmented on
the basis of application, component, end-user, and region with a
focus on industry analysis (industry trends), market share analysis
of top players, and company profiles, which together comprise and
evaluate the basic views on the competitive landscape, emerging and
high-growth segments of the volt/VAr management market, high-growth
regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Product Development/Innovation: Detailed insights on upcoming
technologies, research and development activities, and new product
launches in the volt/VAr management market
• Market Development: Comprehensive information about lucrative
emerging markets; the report analyzes the markets for volt/VAr
management across regions
• Market Diversification: Exhaustive information about new
products, untapped regions, recent developments, and investments in
the global volt/VAr management market
Why buy this report?
1. The report identifies and addresses key markets for the
implementation of volt/VAr management in the power industry, which
would help volt/VAr management providers review the growth in
demand.
2. The report helps solutions providers understand the pulse of the
market and offers insights into drivers, restraints, and
challenges.
3. The report will help key players understand the strategies of
their competitors better and will help in making strategic
decisions.
Read the full report: https://www.reportlinker.com/p05339876
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