Global Voltage Stabilizer Market - 2023-2030

Overview

Global Voltage Stabilizer Market reached US$ 20.8 billion in 2022 and is expected to reach US$ 34.4 billion by 2030, growing with a CAGR of 6.6% during the forecast period 2023-2030.

The voltage stabilizer market is expected to be driven by the rise in growth and dominance of solar panels and wind turbines in the renewable energy sector. Solar PV capacity is growing rapidly and is expected to become the largest power capacity source globally. Wind turbine generators are designed to operate within specific voltage ranges. Fluctuations in the grid voltage can affect the output and efficiency of wind turbines, leading to suboptimal performance and potential stress on the turbine's components.

Furthermore, to achieve Net Zero Emissions by 2050, wind electricity generation needs to significantly increase. It will require rapid capacity additions and improved infrastructure. Voltage stabilizers play a role in enabling the efficient integration and growth of wind energy capacity. According to IEA, wind electricity generation increased by a record 265 TWh in 2022, up 14% from previous years. The growth was second only to solar PV in terms of renewable power technologies.

Asia-pacific holds the largest share in the voltage stabilizer market with the rapid expansion of the energy sector in countries like China, India and Southeast Asia. The International Energy Agency report indicates that over 70% of global electricity demand growth will come from China, India and Southeast Asia in the next three years. The rapid growth in energy consumption indicates a subsequent increase in the demand for a stable and consistent electricity supply which correspondingly increases the use of voltage stabilizers.

Dynamics

Role of Growing Renewable Energy Sector in Voltage Stabilizers

The voltage stabilizer market is expected to be driven by growing wind and solar energy worldwide, Solar panels require a stable voltage supply to operate efficiently. Voltage fluctuations can lead to suboptimal energy generation and efficiency. Voltage stabilizers are crucial to maintaining stable voltage levels and ensuring consistent energy generation. Also, wind power fluctuations can result in rapid changes in voltage levels. Voltage stabilizers are crucial in such scenarios to ensure that sudden spikes or drops in input voltage do not adversely affect the connected equipment.

Furthermore, according to IEA, the wind energy sector growing to achieve the Net Zero Emissions by the 2050 Scenario, Wind electricity generation increased by a record 265 TWh in 2022. Combined solar PV capacity is expected to almost triple, reaching nearly 1,500 GW over the forecast period. The intermittent and variable nature of wind & solar energy generation requires precise voltage regulation to ensure the reliability, efficiency and longevity of equipment within the plant. As wind and solar power continues to expand globally, the demand for effective voltage stabilization solutions is on the rise.

Growing Electricity Demand Powering Global Voltage Stabilizer Market

The global voltage stabilizer market is expected to be driven by the expansion of the electricity sector worldwide. According to IEA, the demand for electricity grew by nearly 2% in 2022 which surpasses the average growth rate of 2.4% observed between 2015 and 2019. Moreover, the electrification of various sectors, including transport and heating, will continue to drive the need for a stable power supply. Voltage stabilizers play a pivotal role in addressing the challenges posed by fluctuations in power supply. The ever-growing demand for electricity, coupled with the increasing reliance on sensitive electronic devices and equipment, underscores the necessity for maintaining a consistent voltage level.

Furthermore, the rapid growth of electricity demand is expected to continue, with more than 70% of this growth in the next three years coming from China, India and Southeast Asia combined. As these regions experience economic growth and push for electrification to meet their energy needs, the demand for electricity is projected to increase at a faster pace. The growth in electricity demand brings with it the challenge of managing voltage fluctuations, making voltage stabilizers crucial to maintaining a stable electrical grid.

Risks of Poor Quality Voltage Stabilizers on Market Reputation

The voltage stabilizer market is expected to be affected by poor or low quality stabilizers which can lead to potential risks. Low-quality voltage stabilizers can lead to malfunctions, frequent breakdowns and potential hazards. It can erode consumer trust in the technology, discouraging potential buyers from investing in voltage stabilizers altogether. Manufacturers of low-quality voltage stabilizers may experience higher rates of returns and customer support inquiries due to malfunctioning devices.

The low-quality products can saturate the market, making it difficult for high-quality manufacturers to compete. The oversaturation can drive down prices, impacting profitability and investment in research and development. The market's reputation can suffer if there's an influx of substandard voltage stabilizers. Consumers may associate poor performance and safety risks with all voltage stabilizers, regardless of brand or quality.

Segment Analysis

The global voltage stabilizersmarket is segmented based on type, phase, application and region.

Servo-Controlled Voltage Stabilizers Domination in the Market

Servo-controlled voltage stabilizers hold the largest segment in voltage stabilizer market driven by wide range of applications mentioned, from industrial units to healthcare facilities and commercial buildings, showcasing the versatility of servo-controlled voltage stabilizers. Also, three-phase automatic voltage regulators highlights the adaptability of servo-controlled technology to handle three-phase systems, which are common in industrial and commercial setups.

Further in order to combat the widespread problem of voltage fluctuations and power irregularities in both India and other regions, SWELECT Energy Systems Limited has developed an innovative solution: the SWEES High-Performance Servo Stabilizers. Notably, these stabilizers incorporate an advanced microcontroller-based control system, enhancing their ability to precisely and efficiently regulate voltage levels.

Geographical Penetration

Asia-Pacific's Leading Role in Voltage Stabilizer Market

Asia-pacific holds the largest share in the voltage stabilizer market with the growth of the energy sector in countries like China, India and Southeast Asia. According to IEA's 2023 report, with the significant increase in electricity demand, there is a higher chance of voltage fluctuations which makes voltage stabilizers crucial for maintaining the stability of the electrical grid. These developments have led to an upsurge in energy consumption across residential, commercial and industrial sectors. As a result, the energy sector in this region has expanded significantly to meet the rising electricity demand which increases the subsequent demand for voltage stabilizers.

Furthermore, China is expected to account for over 45% of renewable energy growth in the next two years and the Asia Pacific region will see substantial growth in this sector. India experienced an 8.4% increase in electricity demand over the past year, which outpaces the growth in U.S. and the decline in the EU. Higher demand for electricity can lead to fluctuations in voltage levels, necessitating the use of voltage stabilizers to maintain stable power delivery.

Competitive Landscape

The major global players in the market include: ABB Group, Schneider Electric, Eaton Corporation, Emerson Electric Co., Siemens AG, Legrand, Havells India Ltd, V-Guard Industries Ltd, Toshiba Corporation and Luminous Power Technologies.

COVID-19 Impact Analysis

The COVID-19 pandemic made a significant impact on the voltage stabilizers market through its impact on electricity demand and the electricity mix across various regions. Lockdown measures led to substantial drops in electricity demand as industries scaled down operations and commercial establishments remained closed. The sudden decrease in demand posed challenges for industries and businesses that heavily rely on voltage stabilizers to ensure a stable power supply for critical equipment.

The pandemic also spotlighted the importance of resilient energy systems and equipment protection. The shift towards renewable energy sources in the electricity mix introduced fluctuations that could impact voltage stability. Voltage stabilizers played a crucial role in mitigating these fluctuations, ensuring a consistent power supply to sensitive equipment. The reliance on remote work and digital solutions underscored the need for uninterrupted operations, driving the significance of voltage stabilizers in maintaining stable power levels.

Russia-Ukraine War Impact

The Russia-Ukraine war made a significant impact on the voltage stabilizers market, triggering a global energy crisis. The conflict made significant increases in energy prices which affected various types of fuels, which in turn has significantly impacted the costs of heating, cooling, lighting and transportation. The increase in energy costs created a major effect throughout global supply chains which leads to higher costs for various goods and services. The voltage stabilizer market has been affected as households and industries are facing elevated energy expenses.

The impact on energy prices due to war could have been mitigated through better policy decisions, such as redirecting investments toward energy transition and reducing reliance on fossil fuel imports. The energy crisis serves as a reminder of the risks of energy systems heavily dependent on fossil fuels and the urgent need for sustainable energy solutions, highlighting the role of voltage stabilizers in ensuring a stable power supply during such tumultuous times.

By Type

• Relay
• Servo
• Static

By Phase

• Single Phase
• Double Phase
• Triple Phase Stabilizer

By Application

• Commercial
• Household
• Industrial

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In April 2022, V-Guard Industries introduced a groundbreaking stabilizer called Arizor, specifically designed for inverter air conditioners (ACs). The company recognized the vulnerability of appliances, including advanced inverter ACs, to power fluctuations and voltage spikes, which can lead to device damage or even complete failure. To address this issue, V-Guard launched the Arizor stabilizer, aimed at enhancing the functionality and appearance of ACs during the summer season.
• In May 2023, Toshiba Electronic Devices & Storage Corporation introduced the TCR1HF series of LDO regulators, aiming to address power efficiency concerns in electronic devices during standby mode. The series boasts high voltages, a broad input voltage range and an industry-leading feature: the lowest stand-by current consumption. The initial product lineup includes three variants: "TCR1HF18B" with a 1.8V output, "TCR1HF33B" with a 3.3V output and "TCR1HF50B" with a 5.0V output.
• In April 2023, NASA announced a new power strategy for the Voyager 2 spacecraft that would extend the operation of its science instruments. The new power strategy involves utilizing a safety mechanism that was originally designed to protect the instruments in case the spacecraft's voltage fluctuated significantly. Voltage fluctuations could potentially damage the instruments. To prevent this, Voyager 2 is equipped with a voltage regulator that triggers a backup circuit if voltage fluctuations occur.

Why Purchase the Report?

• To visualize the global voltage stabilizers market segmentation based on type, phase, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cement market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global voltage stabilizers market report would provide approximately 61 tables, 58 figures and 189 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies