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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Volt/VAR Management Market Outlook
The global volt/VAR management market is expected to grow at a CAGR of 5.5% between 2024 and 2032.
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By lowering reactive power flows, reducing maximum power through voltage reduction, and keeping the voltage within boundaries, volt/VAR management solutions assist in reducing energy loss. Some of its key features include voltage reduction, integration of renewables and distributed energy sources, inclusion of grid storage, network re-configuration, and improved voltage control.
Market Segmentation
Optimisation of volt/VAR (VVO) is a method of optimally controlling voltage concentrations and reactive power to obtain more effective girding operation by decreasing system losses, maximum demand, or energy usage. The volt/VAR management market can be segmented based on component, application, and end-use.
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Based on its components, the volt/VAR management market can be divided into hardware and software and services. Based on its application, the industry can be segmented into:
- Generation
- Transmission
- Distribution
Based on its end-use, the volt/VAR management market can be divided into industrial and electric utility.
The EMR report looks into the regional volt/VAR management market like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The global volt/VAR management industry is driven by the factors like increased need for electricity, distributed energy generation complexity, reduced operating expenditure, optimisation of the power factor, increased emphasis on reducing distribution losses, increased use of intelligent grids, enhanced technological progress, and reduced power outages.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global volt/VAR management market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- ABB Ltd.
- Eaton Corporation PLC
- General Electric Company (GE Energy)
Schneider Electric SE - Siemens AG
- Landis+Gyr AG
- Dominion Voltage Inc
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global volt/VAR management market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is being driven by the rising use of volt/VAR management solutions to reduce energy losses by reducing voltage and the surging deployment of volt/VAR management for integrating renewable and distributed energy sources.
The market growth can be associated with the increasing demand for electricity, surging technological advancements, and the establishment of intelligent grids.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major components of volt/VAR management are hardware and software and services.
The significant applications of volt/VAR management include generation, transmission, and distribution.
The various end users of volt/VAR management are electric utility and industrial.
The major players in the industry are ABB Ltd., Eaton Corporation PLC, General Electric Company (GE Energy), Schneider Electric SE, Siemens AG, Landis+Gyr AG, Dominion Voltage Inc, Others.
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