Volt/VAr Management Market

21 Mar

Volt/VAr Management Market Poised to Grow at a CAGR of 5.7% by 2024

  • By admin

  • January, 1970

Infinium Global Research has added a new report on Volt/Var Management Market. The report presents analysis of global as well as regional markets of Volt/VAr management market over the period of 2016 to 2024. Volt/VAr technologies are mostly used by the power industry to reduce electric lines losses and increase grid efficiency. The distribution grid is inefficient. This inefficiency leads to wasted electricity, unnecessary generation, wasted money, and harmful CO2 in the atmosphere. The main function of the Volt/VAr management is to enhance the voltage control, integration of grid storage and integration of distributed energy resources and renewables. The important benefit of Volt is that they are able to optimize power factor such that the utility has to generate less power to satisfy the demand of its customers. This further reduces environmental impact and CO2 footprint.

 

Reduction in transmission and distribution losses are the major factor driving the growth of the Volt/VAr management market. The transmission and distribution losses in the electricity sector occurs when the amount of electricity generated is greater than the amount of electricity delivered to end-users. In addition, Lower Operational Costs, reduction in environmental impact of energy delivery and increased renewable power generation is projected to boost the growth of the Volt/VAr management market .The integration of renewable generation is done to reduce carbon emissions and emissions of other air pollutants through increased use of renewable energy and other clean distributed generation. However, high initial costs are likely to restrain the growth of the Volt/VAr management system during the forecast period. Furthermore, using intelligent electronic devices and advanced algorithms can now control the voltage levels in real time to optimize the power flows as well as reduce energy consumption. This in turn is anticipated to create several growth opportunities for the Volt/VAr management market over the upcoming years.


 

Among the geographies, North America dominated the Volt/VAr management market owing to the Increasing investments in smart grids, and advanced distribution management systems followed by Europe. Moreover, US and Canada are projected to grow over the rapid pace over the upcoming years. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global Volt/VAr management market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.

 

 

Get 15% discount for early purchase of global Volt/VAr management market report by clicking the following link, Use code IGRD15 to request the discount in the given form

 

https://www.infiniumglobalresearch.com/reports/request-discount/1544

 

The recent report identified that North America dominated the global Volt/VAr management market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the Volt/VAr management market worldwide.

 

The report segments the global Volt/VAr management market on the basis of Component, Application and End-User.

 

Global Volt/VAr Management Market by Component

·         Hardware

·         Software And Services

 

Global Volt/VAr Management Market by Application

·         Distribution

·         Transmission

·         Generation

 

Global Volt/VAr Management Market by End-User

·         Electric Utility

·         Industrial

 

Companies Profiled in the Report

·         Schneider Electric

·         GE

·         ABB

·         Siemens AG

·         Eaton Corporation

·         DVI

·         Beckwith Electric Co., Inc.

·         Advanced Control Systems

·         S&C Electric Company

·         Volt/VArManagement

 

About Infinium Global Research

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