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Market Research Report

Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware component and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2022

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Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware component and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2022
Published: February 15, 2018 Content info: 140 Pages
Description

"The volt/VAr management market is projected to grow at a CAGR of 5.73%, from 2017 to 2022."

The volt/VAr management market is projected to grow from an estimated USD 398.9 million in 2017 to USD 527.1 million by 2022, at a CAGR of 5.73%, from 2017 to 2022. The need to reduce distribution losses and operational costs and optimize power factor, the increasing complexity of distributed energy generation, and rising demand for electricity are driving the market across the world. High initial costs for the deployment of volt/VAr management is a restraint for the market.

"The distribution segment is expected to be the fastest growing volt/VAr management market, by application, during the forecast period."

The distribution segment is expected to dominate the volt/VAr management market during the forecast period. The rise in the deployment of smart grids and a need to reduce power outages and faults in distribution feeders are the major drivers of the distribution segment of the volt/VAr management market. North America is expected to be the largest and the fastest-growing distribution volt/VAr management market.

"North America: The key market for volt/VAr management."

North America is the largest market for volt/VAr management, followed by Europe. Reducing power losses would lead to an increase in investments in volt/VAr management. This would also boost the demand for volt/VAr management in North America. The US and Canada are expected to grow at a fast pace during the forecast period.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 35%, Tier 2- 28%, Tier 3- 37%
  • By Designation: C-Level- 20%, D-Level- 25%, Others- 55%
  • By Region: North America- 42%, Europe- 22%, Asia Pacific- 18%, Middle East & Africa- 15%, South America- 3%

Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 ≤USD 1 billion, Tier 2 = USD 1 billion to USD 500 million, and Tier 3 ≥USD 500 million.

Note: Others includes product engineers, sales managers, regional managers, consultants, and technical experts.

The leading players in the volt/VAr management market are: ABB (Switzerland), Schneider Electric (France), Siemens AG (Germany), GE (US), and Eaton (Ireland).

Research Coverage:

For the purpose of this report, the market has been segmented on the basis of application, component, end-user, and region with a focus on industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the volt/VAr management market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the volt/VAr management market
  • Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for volt/VAr management across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global volt/VAr management market

Why buy this report?

  • 1. The report identifies and addresses key markets for the implementation of volt/VAr management in the power industry, which would help volt/VAr management providers review the growth in demand.
  • 2. The report helps solutions providers understand the pulse of the market and offers insights into drivers, restraints, and challenges.
  • 3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
Table of Contents
Product Code: EP 6005

TABLE OF CONTENTS

1. INTRODUCTION

  • 1.1. OBJECTIVES OF THE STUDY
  • 1.2. DEFINITION
  • 1.3. MARKET SCOPE
    • 1.3.1. MARKET SEGMENTATION
  • 1.4. YEARS CONSIDERED FOR THE STUDY
  • 1.5. CURRENCY
  • 1.6. STAKEHOLDERS

2. RESEARCH METHODOLOGY

  • 2.1. RESEARCH DATA
    • 2.1.1. SECONDARY DATA
      • 2.1.1.1. Secondary sources
    • 2.1.2. PRIMARY DATA
      • 2.1.2.1. Key data from primary sources
      • 2.1.2.2. Breakdown of primaries
  • 2.2. MARKET SIZE ESTIMATION
    • 2.2.1. BOTTOM-UP APPROACH
    • 2.2.2. TOP-DOWN APPROACH
  • 2.3. MARKET BREAKDOWN & DATA TRIANGULATION
  • 2.4. RESEARCH ASSUMPTIONS

3. EXECUTIVE SUMMARY

  • 3.1. INTRODUCTION

4. PREMIUM INSIGHTS

  • 4.1. ATTRACTIVE OPPORTUNITIES IN THE VOLT/VAR MANAGEMENT MARKET
  • 4.2. VOLT/VAR MANAGEMENT MARKET, BY COUNTRY
  • 4.3. VOLT/VAR MANAGEMENT MARKET, BY END-USER
  • 4.4. VOLT/VAR MANAGEMENT MARKET, BY COMPONENT
  • 4.5. VOLT/VAR MANAGEMENT MARKET, BY APPLICATION

5. MARKET OVERVIEW

  • 5.1. INTRODUCTION
  • 5.2. MARKET DYNAMICS
    • 5.2.1. DRIVERS
      • 5.2.1.1. Reduction in transmission & distribution losses
      • 5.2.1.2. Optimizing power factor
      • 5.2.1.3. Lower operational costs
      • 5.2.1.4. Complexity of distributed energy generation
      • 5.2.1.5. Rising demand for electricity
    • 5.2.2. RESTRAINTS
      • 5.2.2.1. High initial costs
    • 5.2.3. OPPORTUNITIES
      • 5.2.3.1. Modernization of aging grid infrastructure
    • 5.2.4. CHALLENGES
      • 5.2.4.1. Slower adaptation rate

6. VOLT/VAR MANAGEMENT MARKET, BY APPLICATION

  • 6.1. INTRODUCTION
  • 6.2. DISTRIBUTION
  • 6.3. TRANSMISSION
  • 6.4. GENERATION

7. VOLT/VAR MANAGEMENT MARKET, BY COMPONENT

  • 7.1. INTRODUCTION
  • 7.2. HARDWARE
    • 7.2.1. LOAD TAP CHANGER (LTC) TRANSFORMERS
    • 7.2.2. VOLTAGE REGULATORS
    • 7.2.3. CAPACITOR BANKS
  • 7.3. SOFTWARE AND SERVICES

8. VOLT/VAR MANAGEMENT MARKET, BY END-USER

  • 8.1. INTRODUCTION
  • 8.2. ELECTRIC UTILITY
  • 8.3. INDUSTRIAL

9. VOLT/VAR MANAGEMENT MARKET, BY REGION

  • 9.1. INTRODUCTION
  • 9.2. NORTH AMERICA
    • 9.2.1. US
    • 9.2.2. CANADA
    • 9.2.3. MEXICO
  • 9.3. EUROPE
    • 9.3.1. GERMANY
    • 9.3.2. UK
    • 9.3.3. FRANCE
    • 9.3.4. ITALY
    • 9.3.5. RUSSIA
    • 9.3.6. SPAIN
    • 9.3.7. REST OF EUROPE
  • 9.4. ASIA PACIFIC
    • 9.4.1. CHINA
    • 9.4.2. JAPAN
    • 9.4.3. SOUTH KOREA
    • 9.4.4. INDIA
    • 9.4.5. INDONESIA
    • 9.4.6. AUSTRALIA
    • 9.4.7. REST OF ASIA PACIFIC
  • 9.5. MIDDLE EAST AND AFRICA
    • 9.5.1. SAUDI ARABIA
    • 9.5.2. UAE
    • 9.5.3. SOUTH AFRICA
    • 9.5.4. QATAR
    • 9.5.5. KUWAIT
    • 9.5.6. NIGERIA
    • 9.5.7. ALGERIA
    • 9.5.8. REST OF MIDDLE EAST AND AFRICA
  • 9.6. SOUTH AMERICA
    • 9.6.1. BRAZIL
    • 9.6.2. ARGENTINA
    • 9.6.3. REST OF SOUTH AMERICA

10. COMPETITIVE LANDSCAPE

  • 10.1. OVERVIEW
  • 10.2. RANKING OF PLAYERS AND INDUSTRY CONCENTRATION 2016
  • 10.3. COMPETITIVE SCENARIO
    • 10.3.1. NEW PRODUCT DEVELOPMENTS
    • 10.3.2. CONTRACTS & AGREEMENTS
    • 10.3.3. OTHERS (PARTNERSHIPS/COLLABORATIONS/ JOINT VENTURES/AWARDS & RECOGNITIONS)

11. COMPANY PROFILES (Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, and Recent Developments)*

  • 11.1. BENCHMARKING
  • 11.2. ABB
  • 11.3. EATON
  • 11.4. GE
  • 11.5. SCHNEIDER ELECTRIC
  • 11.6. SIEMENS
  • 11.7. ADVANCED CONTROL SYSTEMS
  • 11.8. DVI
  • 11.9. LANDIS+GYR
  • 11.10. OPEN SYSTEMS INTERNATIONAL
  • 11.11. UTILIDATA
  • 11.12. VARENTEC
  • 11.13. BECKWITH ELECTRIC
  • 11.14. DC SYSTEMS
  • 11.15. S&C ELECTRIC COMPANY

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Products Offering, and Recent Developments might not be captured in case of unlisted companies.

12. APPENDIX

  • 12.1. INSIGHTS OF INDUSTRY EXPERTS
  • 12.2. DISCUSSION GUIDE
  • 12.3. KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
  • 12.4. INTRODUCING RT: REAL TIME MARKET INTELLIGENCE
  • 12.5. AVAILABLE CUSTOMIZATIONS
  • 12.6. RELATED REPORTS
  • 12.7. AUTHOR DETAILS

LIST OF TABLES

  • TABLE 1: VOLT/VAR MANAGEMENT MARKET SNAPSHOT
  • TABLE 2: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
  • TABLE 3: DISTRIBUTION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
  • TABLE 4: TRANSMISSION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD THOUSAND)
  • TABLE 5: GENERATION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD THOUSAND)
  • TABLE 6: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 7: HARDWARE: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
  • TABLE 8: SOFTWARE AND SERVICES: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
  • TABLE 9: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD MILLION)
  • TABLE 10: ELECTRIC UTILITY: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD MILLION)
  • TABLE 11: INDUSTRIAL: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2015-2022 (USD THOUSAND)
  • TABLE 12: VOLT/VAR MANAGEMENT MARKET, BY REGION, 2015-2022 (USD MILLION)
  • TABLE 13: TOP FIVE COUNTRIES: VOLT/VAR MANAGEMENT MARKET SIZE, BY DISTRIBUTION, 2015-2022 (USD MILLION)
  • TABLE 14: NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
  • TABLE 15: NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 16: NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD MILLION)
  • TABLE 17: NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2015-2022 (USD MILLION)
  • TABLE 18: US: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
  • TABLE 19: CANADA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 20: MEXICO: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 21: EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
  • TABLE 22: EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 23: EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD MILLION)
  • TABLE 24: EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2015-2022 (USD MILLION)
  • TABLE 25: GERMANY: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 26: UK: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 27: FRANCE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 28: ITALY: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 29: RUSSIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 30: SPAIN: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 31: REST OF EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 32: ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD MILLION)
  • TABLE 33: ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 34: ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD MILLION)
  • TABLE 35: ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2015-2022 (USD MILLION)
  • TABLE 36: CHINA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 37: JAPAN: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 38: SOUTH KOREA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 39: INDIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 40: INDONESIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 41: AUSTRALIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 42: REST OF ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 43: MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 44: MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 45: MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD THOUSAND)
  • TABLE 46: MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2015-2022 (USD THOUSAND)
  • TABLE 47: SAUDI ARABIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 48: UAE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 49: SOUTH AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 50: QATAR: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 51: KUWAIT: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 52: NIGERIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 53: ALGERIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 54: REST OF MIDDLE EAST AND AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 55: SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 56: SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2015-2022 (USD MILLION)
  • TABLE 57: SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2015-2022 (USD THOUSAND)
  • TABLE 58: SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2015-2022 (USD MILLION)
  • TABLE 59: BRAZIL: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 60: ARGENTINA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)
  • TABLE 61: REST OF SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2015-2022 (USD THOUSAND)

LIST OF FIGURES

  • FIGURE 1: RESEARCH DESIGN
  • FIGURE 2: BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, & REGION
  • FIGURE 3: BOTTOM-UP APPROACH
  • FIGURE 4: TOP-DOWN APPROACH
  • FIGURE 5: DATA TRIANGULATION METHODOLOGY
  • FIGURE 6: ASSUMPTION OF THE RESEARCH STUDY
  • FIGURE 7: THE ELECTRIC UTILITY SEGMENT LED THE MARKET IN 2016
  • FIGURE 8: THE DISTRIBUTION SEGMENT DOMINATED THE VOLT/VAR MANAGEMENT MARKET IN 2017
  • FIGURE 9: THE HARWARE SEGMENT DOMINATED THE VOLT/VAR MANAGEMENT MARKET IN 2017
  • FIGURE 10: NORTH AMERICA HELD THE LARGEST SHARE OF THE VOLT/VAR MANAGEMENT MARKET IN 2016
  • FIGURE 11: DRIVERS IN THE VOLT/VAR MANAGEMENT MARKET, 2017-2022
  • FIGURE 12: THE US IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
  • FIGURE 13: ELECTRIC UTILITY SEGMENT IS EXPECTED TO LEAD THE VOLT/VAR MANAGEMENT MARKET, 2017-2022
  • FIGURE 14: THE HARDWARE SEGMENT TO DOMINATE THE VOLT/VAR MANAGEMENT MARKET IN 2016
  • FIGURE 15: THE DISTRIBUTION SEGMENT TO DOMINATE THE VOLT/VAR MANAGEMENT MARKET DURING THE FORECASTED PERIOD
  • FIGURE 16: VOLT/VAR MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES & CHALLENGES
  • FIGURE 17: DISTRIBUTION SEGMENT IS EXPECTED TO BE LARGEST MARKET FOR VOLT/VAR MANAGEMENT, 2017-2022
  • FIGURE 18: HARDWARE SEGMENT IS EXPECTED TO BE THE LARGEST MARKET FOR VOLT/VAR MANAGEMENT IN 2016
  • FIGURE 19: ELECTRIC UTILITY SEGMENT IS EXPECTED TO BE THE LARGEST MARKET FOR VOLT/VAR MANAGEMENT IN 2016
  • FIGURE 20: GEOGRAPHIC SNAPSHOT: VOLT/VAR MANAGEMENT MARKET, 2017-2022
  • FIGURE 21: NORTH AMERICA: MARKET SNAPSHOT
  • FIGURE 22: EUROPE: MARKET SNAPSHOT
  • FIGURE 23: KEY DEVELOPMENTS IN THE VOLT/VAR MANAGEMENT MARKET, 2014-2017
  • FIGURE 24: MARKET RANKING, 2016
  • FIGURE 25: ABB: COMPANY SNAPSHOT
  • FIGURE 26: EATON: COMPANY SNAPSHOT
  • FIGURE 27: GE: COMPANY SNAPSHOT
  • FIGURE 28: SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
  • FIGURE 29: SIEMENS: COMPANY SNAPSHOT
  • FIGURE 30: LANDIS+GYR: COMPANY SNAPSHOT
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