(MENAFN- Zion Market Research) As per Zion Market Research, the volt/VAr management market is expected to cross a value USD 629.29 million by 2026 with a CAGR of almost 6.3%, from an expected USD 430 million in 2019. The requirement for well-organized processes to optimize power factor and lower distribution losses, distributed energy creation complication, and increasing requirement for electricity is powering the market for volt/VAr management all over the world.
The global market for volt/VAr management is ruled by a few primary players that have a widespread regional attendance. The major players in the market are Varentec, ABB, GE, Eaton, Siemens, Schneider, DVI, Landis+Gyr, Utilidata, and Open Systems International.
Request Free Sample Request Customization Buy Now
The Distribution Segment By Application Is The Biggest Contributor To The Global Market For Volt/VAr Management In The Coming Years
The global market for volt/VAr management has been divided on the basis of application into transmission, generation, and distribution. The distribution section is predicted to be the biggest owing to the rising number of smart grid initiatives and increasing electricity requirement from the residential industry.
Hardware To Add Up To Be The Highest Income Creation Segment In The Coming Period
The global market based on component is divided into software & services and hardware. The hardware section is predicted to have the biggest share during the forecast period of the market. Emerging power generation initiatives in the renewable and non-renewable power sections and distribution & transmission projects in nations such the UK, the US, Ireland, France, India, Norway, and China are predicted to power the requirement for hardware elements in the coming period.
By End-User, The Electric Utility Is Predicted To Be The Quickest Developing Market In The Coming Period
The global market based on end-user is divided into industrial and electric utility. The electric utility section is predicted to have the biggest share of the market by 2025. Rising spending in distributed power creation for renewable sources such as wind and solar and the execution of volt/VAr management initiatives for power & voltage optimization are predicted to power the electric utility section in the coming period.
North America Predicted To Add Up For The Biggest Market Size In The Coming Period
North America is the biggest market for volt/VAr management, after Europe. Lowering power losses might result in an elevation in spending in volt/VAr management. This might also power the requirement in North America for volt/VAr management. Canada and the US are predicted to develop at a quick pace in the coming period.
Browse the full 'Volt/VAr Management Market - by Component (Software & Services and Hardware), by Application (Transmission, Distribution, and Generation), by End-User (Industrial and Electric Utility), and by Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 2026. Report at [To enable links contact MENAFN]
The global Volt/VAr management market is segmented as follows:
By application
- Generation
- Transmission
- Distribution
By components
- Hardware
- Software & services
By end-user
- Electric utility
- Industrial
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email:
Website: [To enable links contact MENAFN]
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.