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The market for Volt/VAR management is anticipated to expand at a 7.50 percent CAGR from 2023 to 2030.
With the use of an advanced management system called Volt/VAR, all voltage regulating devices and VAR control devices can be given the best possible set of control actions to do in order to achieve more specialised operating goals while still adhering to basic operating constraints. A conservative voltage control mechanism is also included in Volt/VAR, which determines and maintains an acceptable voltage for all customers supplied by the feeder's service entry under all operational circumstances. The Volt/VAR management system's primary end users are industrial applications and utilities. Utilities utilise volt/VAR management techniques to lower peak demand and energy usage. It is common practise to temporarily reduce load through peak demand reduction. Long-term energy consumption can be decreased by employing the conservation voltage reduction (CVR) approach.
The global volt/var management market is anticipated to expand quickly over the course of the forecast period as a result of rising demand for energy-efficient power and the use of renewable energy sources. The modern grid is evolving in several ways as a result of the deployment of various distributed energy resources. Voltage changes emerge from the grid network's complexity growing as a result of an increased reliance on renewable energy sources.
The market for global volt/var management has been divided into segments based on region, end-use, component, and application. The market has been divided into hardware and software & services based on component. Since numerous forthcoming power generation projects in the renewable and conventional power sectors are anticipated to increase demand for hardware components during the projection period, the hardware segment currently holds a monopoly on the market.
With the use of an advanced management system called Volt/VAR, all voltage regulating devices and VAR control devices can be given the best possible set of control actions to ensure that they all operate within more precise operating restrictions while still achieving their more specific operational goals. In addition, Volt/VAR has a conservative voltage control mechanism that determines and maintains a suitable voltage at the service entrance for each customer fed by the feeder under all operational circumstances. The utilities and industrial applications are the Volt/VAR management system's main end users. Utilities use Volt/VAR management techniques to reduce either peak energy demand or usage. The peak demand reduction strategy is typically used to temporarily lower load. The conservation voltage reduction (CVR) method of reducing energy usage is frequently utilised to achieve long-term energy savings.
The Volt/VAR Management Market is primarily driven by the focus on minimising transmission and distribution (T&D) losses, decreasing operational costs, increasing electricity consumption, and complexity of distributed energy generation. Most Volt/VAR devices based on hardware and software have been implemented in North America. Additionally, the market will be driven by the favourable laws and incentives offered to utilities in an effort to minimise peak demand and save energy system-wide. Management is a crucial component of the entire voltage regulation process.
Report Coverage
Global Volt/VAR Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Volt/VAR Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Volt/VAR Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Volt/VAR Management market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Volt/VAR Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Volt/VAR Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, S&C Electric Company, DC Systems, Beckwith Electric, Utilidata, Open Systems International, Landis+Gyr, Advanced Control Systems, Siemens, Schneider Electric, GE, Eaton, and VArentec.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Volt/VAR Management market based on the below-mentioned segments:
Global Volt/VAR Management Market, By Component
Hardware
Software
Services
Global Volt/VAR Management market, By Application
Distribution
Transmission
Global Volt/VAR Management Market, By End User
Utilities
Industrial
Global Volt/VAR Management market, Regional Analysis
With the use of an advanced management system called Volt/VAR, all voltage regulating devices and VAR control devices can be given the best possible set of control actions to do in order to achieve more specialised operating goals while still adhering to basic operating constraints. A conservative voltage control mechanism is also included in Volt/VAR, which determines and maintains an acceptable voltage for all customers supplied by the feeder's service entry under all operational circumstances. The Volt/VAR management system's primary end users are industrial applications and utilities. Utilities utilise volt/VAR management techniques to lower peak demand and energy usage. It is common practise to temporarily reduce load through peak demand reduction. Long-term energy consumption can be decreased by employing the conservation voltage reduction (CVR) approach.
The global volt/var management market is anticipated to expand quickly over the course of the forecast period as a result of rising demand for energy-efficient power and the use of renewable energy sources. The modern grid is evolving in several ways as a result of the deployment of various distributed energy resources. Voltage changes emerge from the grid network's complexity growing as a result of an increased reliance on renewable energy sources.
The market for global volt/var management has been divided into segments based on region, end-use, component, and application. The market has been divided into hardware and software & services based on component. Since numerous forthcoming power generation projects in the renewable and conventional power sectors are anticipated to increase demand for hardware components during the projection period, the hardware segment currently holds a monopoly on the market.
With the use of an advanced management system called Volt/VAR, all voltage regulating devices and VAR control devices can be given the best possible set of control actions to ensure that they all operate within more precise operating restrictions while still achieving their more specific operational goals. In addition, Volt/VAR has a conservative voltage control mechanism that determines and maintains a suitable voltage at the service entrance for each customer fed by the feeder under all operational circumstances. The utilities and industrial applications are the Volt/VAR management system's main end users. Utilities use Volt/VAR management techniques to reduce either peak energy demand or usage. The peak demand reduction strategy is typically used to temporarily lower load. The conservation voltage reduction (CVR) method of reducing energy usage is frequently utilised to achieve long-term energy savings.
The Volt/VAR Management Market is primarily driven by the focus on minimising transmission and distribution (T&D) losses, decreasing operational costs, increasing electricity consumption, and complexity of distributed energy generation. Most Volt/VAR devices based on hardware and software have been implemented in North America. Additionally, the market will be driven by the favourable laws and incentives offered to utilities in an effort to minimise peak demand and save energy system-wide. Management is a crucial component of the entire voltage regulation process.
Report Coverage
Global Volt/VAR Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Volt/VAR Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Volt/VAR Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Volt/VAR Management market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB, S&C Electric Company, DC Systems, Beckwith Electric, Utilidata, Open Systems International, Landis+Gyr, Advanced Control Systems, Siemens, Schneider Electric, GE, Eaton, and VArentec. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Volt/VAR Management Market from 2021 to 2030.
- Market Forecast for Volt/VAR Management Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Volt/VAR Management competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Volt/VAR Management
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Volt/VAR Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Volt/VAR Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, S&C Electric Company, DC Systems, Beckwith Electric, Utilidata, Open Systems International, Landis+Gyr, Advanced Control Systems, Siemens, Schneider Electric, GE, Eaton, and VArentec.
Primary Target Market
- Market Players of Volt/VAR Management
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Volt/VAR Management market based on the below-mentioned segments:
Global Volt/VAR Management Market, By Component
Hardware
Software
Services
Global Volt/VAR Management market, By Application
Distribution
Transmission
Global Volt/VAR Management Market, By End User
Utilities
Industrial
Global Volt/VAR Management market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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