Volt VAR Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software); Application (Distribution, Transmission, Generation); End User (Electric Utility, Industrial) and Geography
Report Code: TIPRE00009153
| No. of Pages: 150
| Category: Electronics and Semiconductor
| Status: Upcoming
The volt/VAr management allows the reduction of energy losses by minimizing reactive power flows, keeping voltages within limits, and reducing peak power by voltage reduction. The solution has several benefits, such as it increases network hosting capacity and enables more efficient utilization of the distributed network. Robust investments in grid modernization and T&D infrastructure is likely to contribute significantly to the growth of the Volt/VAr management market across the North America region.
The "Global Volt VAr Management Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the volt VAr management market with detailed market segmentation by component, application, end user, and geography. The report provides key statistics on the market status of the leading volt VAr management market players and offers key trends and opportunities in the market.
Based on component, the global volt VAr management market is segmented into hardware and software.
On the basis of application, the market is segmented into distribution, transmission, and generation.
Based on end user, the market is segmented into electric utility and industrial.
MARKET DYNAMICS Drivers:
The Volt/VAr management market is anticipated to grow in the forecast period owing to driving factors such as growing focus towards reducing transmission and distribution losses along with growing demand for secure and reliable power network.
The modernization of the aging power infrastructure creates lucrative opportunities for the key players involved in the Volt/var management market in the future.
High initial installation costs may hamper the growth of the Volt/var management market during the forecast period.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The volt VAr management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the volt VAr management market in these regions.
IMPACT OF COVID-19 ON VOLT VAR MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report covers key developments in the volt VAr management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from volt VAr management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the volt VAr management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Beckwith Electric Co., Inc.
General Electric Company
Open Systems International, Inc.
Schneider Electric SE
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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The List of Companies
1. ABB Limited
2. Beckwith Electric Co., Inc.
3. Eaton Corporation
4. General Electric Company
5. Landis+Gyr AG
6. Open Systems International, Inc.
7. Schneider Electric SE
8. Siemens AG
9. Utilidata, Inc.
10. Varentec, Inc.