HOME Top Market Reports Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware component and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2022

Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware component and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: February 2018
Report Code: EP 6005

 

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The global volt/VAr management market was valued at USD 379.0 Million in 2016 and is projected to reach USD 527.1 Million by 2022, growing at a CAGR of 5.73%, during the forecast period. This market growth is primarily driven by the increasing emphasis on reduction of distribution losses, optimization of power factor, reduction in operational costs, distributed energy generation complexity, and rising demand for electricity globally.

The years considered for the study are as follows.

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the volt/VAr management market by application, component, end-user, and region
  • To provide detailed information regarding the major factors influencing the growth of the volt/VAr management market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the volt/VAr management market with respect to individual growth trends, future projections, and the contribution of each segment to the market
  • To track and analyze competitive developments such as contracts & agreements, new product launches, investments and expansions, and partnerships and collaborations in the volt/VAr management market
  • To profile key players and comprehensively analyze their market ranking and core competencies

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the volt/VAr management market. Primary sources are mainly industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, service providers, technology developers, standards and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points given below explain the research methodology.

  • Study of the annual revenues and market developments of the major players that provide volt/VAr management solutions  
  • Assessment of future trends and growth of end-users
  • Assessment of the volt/VAr management market with respect to the types of modules used by different end-users
  • Study of contracts and other developments related to the volt/VAr management market by key players across different regions
  • Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies offering volt/VAr management across the globe

After arriving at the overall market size, the total market has been split into several segments and sub-segments. The figure given below illustrates the breakdown of primaries conducted during the research study, based on company type, designation, and region.

Volt/VAr Management Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

The volt/VAr management market ecosystem comprises companies such as ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), and Eaton (Ireland).

Target Audience:

The report’s target audience includes:

  • Volt/VAr management companies
  • Electric utility players
  • Renewable energy power generation players
  • Engineering, procurement, and construction companies in the transmission and distribution sector
  • Government and research organizations
  • Power transmission and distribution companies

Scope of the Report:

  • By Application
    • Distribution
    • Transmission
    • Generation
  • By Component
    • Hardware
    • Software and Services
  • By End-User
    • Electric Utility
    • Industrial
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:

Regional Analysis

  • Further breakdown of region/country-specific analyses

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 23)
    3.1 Introduction

4 Premium Insights (Page No. - 27)
    4.1 Attractive Opportunities in the Volt/VAr Management Market During the Forecast Period
    4.2 Volt/VAr Management Market, By Country
    4.3 Volt/VAr Management Market, By End-User
    4.4 Volt/VAr Management Market, By Component
    4.5 Volt/VAr Management Market, By Application

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Reduction in Transmission & Distribution Losses
                    5.2.1.2 Optimizing Power Factor
                    5.2.1.3 Lower Operational Costs
                    5.2.1.4 Complexity of Distributed Energy Generation
                    5.2.1.5 Rising Demand for Electricity
           5.2.2 Restraints
                    5.2.2.1 High Initial Costs
           5.2.3 Opportunities
                    5.2.3.1 Modernization of Aging Grid Infrastructure
           5.2.4 Challenges
                    5.2.4.1 Deployment of Volt/VAr Management

6 Volt/VAr Management Market, By Application (Page No. - 34)
    6.1 Introduction
    6.2 Distribution
    6.3 Transmission
    6.4 Generation

7 Volt/VAr Management Market, By Component (Page No. - 39)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Load Tap Changer (LTC) Transformers
           7.2.2 Voltage Regulators
           7.2.3 Capacitor Banks
    7.3 Software and Services

8 Volt/VAr Management Market, By End-User (Page No. - 43)
    8.1 Introduction
    8.2 Electric Utility
    8.3 Industrial

9 Volt/VAr Management Market, By Region (Page No. - 47)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 UK
           9.3.2 Germany
           9.3.3 France
           9.3.4 Russia
           9.3.5 Italy
           9.3.6 Spain
           9.3.7 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 Australia
           9.4.5 South Korea
           9.4.6 Indonesia
           9.4.7 Rest of Asia Pacific
    9.5 South America
           9.5.1 Brazil
           9.5.2 Argentina
           9.5.3 Rest of South America
    9.6 Middle East and Africa
           9.6.1 South Africa
           9.6.2 Nigeria
           9.6.3 Saudi Arabia
           9.6.4 Qatar
           9.6.5 UAE
           9.6.6 Kuwait
           9.6.7 Algeria
           9.6.8 Rest of Middle East and Africa

10 Competitive Landscape (Page No. - 91)
     10.1 Overview
     10.2 Market Ranking Analysis, 2016
     10.3 Competitive Scenario
             10.3.1 New Product Developments
             10.3.2 Contracts & Agreements
             10.3.3 Others (Partnerships/Collaborations/ Joint Ventures/Awards & Recognitions)

11 Company Profile (Page No. - 96)
(Company at A Glance, Business Overview, Products Offered, Key Strategy, Recent Developments, SWOT Analysis & MnM View)*
     11.1 Benchmarking
     11.2 ABB
     11.3 Eaton
     11.4 GE
     11.5 Schneider Electric
     11.6 Siemens
     11.7 Advanced Control Systems
     11.8 DVI
     11.9 Landis+Gyr
     11.10 Open Systems International
     11.11 Utilidata
     11.12 VArentec
     11.13 Beckwith Electric
     11.14 Dc Systems
     11.15 S&C Electric Company

*Details on Company at A Glance, Recent Financials, Products Offered, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 129)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (61 Tables)

Table 1 Volt/VAr Management Market Snapshot
Table 2 Market Size, By Application, 2015–2022 (USD Million)
Table 3 Distribution: Volt/VAr Management Market Size, By Region, 2015–2022 (USD Million)
Table 4 Transmission: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Generation: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Volt/VAr Management Market Size, By Component, 2015–2022 (USD Million)
Table 7 Hardware: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Software and Services: Volt/VAr Management Market Size, By Region, 2015–2022 (USD Million)
Table 9 Market Size, By End-User, 2015–2022 (USD Million)
Table 10 Electric Utility: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Industrial: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Volt/VAr Management Market, By Region, 2015–2022 (USD Million)
Table 13 Top Five Countries: Volt/VAr Management Market Size, By Distribution, 2015–2022 (USD Million)
Table 14 North America: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 15 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 16 North America: Market Size, By End-User, 2015–2022 (USD Million)
Table 17 North America: Market Size, By Country, 2015–2022 (USD Million)
Table 18 US: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 19 Canada: Market Size, By Application, 2015–2022 (USD Million)
Table 20 Mexico: Market Size, By Application, 2015–2022 (USD Thousand)
Table 21 Europe: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 22 Europe: Market Size, By Component, 2015–2022 (USD Million)
Table 23 Europe: Market Size, By End-User, 2015–2022 (USD Million)
Table 24 Europe: Market Size, By Country, 2015–2022 (USD Million)
Table 25 UK: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Thousand)
Table 26 Germany: Market Size, By Application, 2015–2022 (USD Million)
Table 27 France: Market Size, By Application, 2015–2022 (USD Thousand)
Table 28 Russia: Market Size, By Application, 2015–2022 (USD Thousand)
Table 29 Italy: Market Size, By Application, 2015–2022 (USD Thousand)
Table 30 Spain: Market Size, By Application, 2015–2022 (USD Million)
Table 31 Rest of Europe: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 32 Asia Pacific: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 33 Asia Pacific: Market Size, By Component, 2015–2022 (USD Million)
Table 34 Asia Pacific: Market Size, By End-User, 2015–2022 (USD Million)
Table 35 Asia Pacific: Market Size, By Country, 2015–2022 (USD Million)
Table 36 China: Market Size, By Application, 2015–2022 (USD Thousand)
Table 37 Japan: Market Size, By Application, 2015–2022 (USD Thousand)
Table 38 India: Market Size, By Application, 2015–2022 (USD Thousand)
Table 39 Australia: Market Size, By Application, 2015–2022 (USD Thousand)
Table 40 South Korea: Market Size, By Application, 2015–2022 (USD Thousand)
Table 41 Indonesia: Market Size, By Application, 2015–2022 (USD Thousand)
Table 42 Rest of Asia Pacific: Market Size, By Application, 2015–2022 (USD Thousand)
Table 43 South America: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 44 South America: Market Size, By Component, 2015–2022 (USD Million)
Table 45 South America: Market Size, By End-User, 2015–2022 (USD Million)
Table 46 South America: Market Size, By Country, 2015–2022 (USD Million)
Table 47 Brazil: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Thousand)
Table 48 Argentina: Market Size, By Application, 2015–2022 (USD Thousand)
Table 49 Rest of South America: Market Size, By Application, 2015–2022 (USD Thousand)
Table 50 Middle East & Africa: Volt/VAr Management Market Size, By Application, 2015–2022 (USD Million)
Table 51 Middle East & Africa: Market Size, By Component, 2015–2022 (USD Million)
Table 52 Middle East & Africa: Market Size, By End-User, 2015–2022 (USD Million)
Table 53 Middle East & Africa: Market Size, By Country, 2015–2022 (USD Million)
Table 54 South Africa: Market Size, By Application, 2015–2022 (USD Thousand)
Table 55 Nigeria: Market Size, By Application, 2015–2022 (USD Thousand)
Table 56 Saudi Arabia: Market Size, By Application, 2015–2022 (USD Thousand)
Table 57 Qatar: Market Size, By Application, 2015–2022 (USD Thousand)
Table 58 UAE: Market Size, By Application, 2015–2022 (USD Thousand)
Table 59 Kuwait: Market Size, By Application, 2015–2022 (USD Thousand)
Table 60 Algeria: Market Size, By Application, 2015–2022 (USD Thousand)
Table 61 Rest of Middle East and Africa: Market Size, By Application, 2015–2022 (USD Thousand)


List of Figures (29 Figures)

Figure 1 Research Design
Figure 2 Breakdown of Primaries: By Company Type, Designation, & Region
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Assumption of the Research Study
Figure 7 The Electric Utility Market is Excepted to Grow at the Highest CAGR During the Forecast Period
Figure 8 The Distribution Segment Dominated the Volt/VAr Management Market in 2016
Figure 9 The Hardware Market is Excepted to Grow at the Highest CAGR During the Forecast Period
Figure 10 North America Held the Largest Share of the Volt/VAr Management Market in 2016
Figure 11 Opportunities in the Application Segment of the Volt/VAr Management Market, 2017–2022
Figure 12 The US Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Electric Utility Segment is Expected to Lead the Volt/VAr Management Market, 2017–2022
Figure 14 The Hardware Market is Excepted to Grow at the Highest CAGR During the Forecast Period
Figure 15 The Distribution Market is Excepted to Grow at the Highest CAGR During the Forecast Period
Figure 16 Volt/VAr Management Market: Drivers, Restraints, Opportunities & Challenges
Figure 17 Distribution Segment is Expected to Be Largest Market for Volt/VAr Management, 2017–2022
Figure 18 Hardware Segment is Expected to Be the Largest Market for Volt/VAr Management, 2017–2022
Figure 19 Geographic Snapshot: Volt/VAr Management Market, 2017–2022
Figure 20 North America: Market Snapshot
Figure 21 Europe: Market Snapshot
Figure 22 Key Developments in the Volt/VAr Management Market, 2014–2017
Figure 23 Market Ranking, 2016
Figure 24 ABB: Company Snapshot
Figure 25 Eaton: Company Snapshot
Figure 26 GE: Company Snapshot
Figure 27 Schneider Electric: Company Snapshot
Figure 28 Siemens: Company Snapshot
Figure 29 Landis+Gyr: Company Snapshot

The global volt/VAr management market is estimated to be USD 398.9 Million in 2017 and is projected to reach USD 527.1 Million by 2022, growing at a CAGR of 5.73%, from 2017 to 2022. The need for efficient operations to reduce distribution losses and optimize power factor, distributed energy generation complexity, and rising demand for electricity are driving the market for volt/VAr management across the globe.

The volt/VAr management market has been segmented based on application into generation, transmission, and distribution. The distribution segment is expected to be the largest due to the increasing number of smart grid projects and rising electricity demand from the residential sector.

The volt/VAr management market has been segmented based on component into hardware and software and services. The hardware segment is estimated to hold the largest share of the market during the forecast period. Upcoming power generation projects in the non-renewable and renewable power segments and transmission and distribution projects in economies such the US, the UK, France, Ireland, Norway, India, and China are expected to boost the demand for hardware components during the forecast period.

The volt/VAr management market has been segmented, by end-user, into electric utility and industrial. The electric utility segment is estimated to hold the largest market share by 2022. Increased investments in distributed power generation renewable energy sources such as solar and wind and implementation of volt/VAr management projects for voltage and power optimization are expected to drive the electric utility segment during the forecast period.

The volt/VAr management market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America is expected to dominate the volt/VAr management market during the forecast period. Increasing investments in smart grids, advanced distribution management systems, and the transmission and distribution market is driving the volt/VAr management market in North America. The figure below shows the market sizes and CAGRs for the year 2022 in various regions.

Volt/VAr Management Market

The major factor restraining the growth of the market is the high initial cost for deploying volt/VAr management. Some of the leading players in the volt/VAr management market include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), Eaton (Ireland), Open System International (US), Utilidata (US), Varentec (US), and Landis+Gyr (Switzerland).

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