With ongoing industrialization in fast-growing economies across Asia-Pacific, the Middle East and Africa, and South America, demand for electricity has been increasing from industries, domestic, and commercial areas. There has been heavy spending on the construction, expansion, and modernization of power transmission and distribution infrastructure, creating demand for voltage regulators. Utilities are concerned not just with supplying power, but also with supplying reliable quality of power. As voltage regulators play an important role in providing reliable power supply on a continuous basis, demand for them has been rising.
The technology behind voltage regulators has developed rapidly to face challenges posed by ever expanding and complex distribution networks, to provide optimum performance. Electronic components and ability to control performance remotely have added to the performance capabilities of voltage regulators.
Asia-Pacific is estimated to be the largest market for voltage regulators in the world during 2014, and is expected to remain dominant through to 2019. While the Middle East and Africa is projected to emerge as the fastest growing market during the forecast period, growing at a CAGR of 5.2%, followed by the Asia-Pacific and the Americas at growth rates of 5.0% and 4.3% during the forecast period, respectively.
Voltage Regulators Market by Type (Ferroresonant and Tap Switching), by End-Users (Commercial, Industrial, and Residential) & by Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Global Trends & Forecast to 2019
Markets and Markets
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