Global Volt or VAr Management Market Industry | Whipsmartmi

Textile Dyes market is projected to grow at a CAGR of 3% during the forecasting period 2021-2027

The demand for volt/VAr management is being driven by the need for efficient operations to minimise distribution losses and maximise power factor, distributed energy generation complexity, and increasing electricity demand around the world. Because of the growing number of smart grid projects and the electricity demand from the residential sector, the distribution segment is the largest contributor to the volt/VAr management industry. During the forecast period, the hardware segment is expected to hold the largest share of the market. During the forecast period, demand for hardware components is expected to be boosted by upcoming power generation projects in the non-renewable and renewable power segments, as well as transmission and distribution projects in economies such as the United States, the United Kingdom, France, Ireland, Norway, India, and China. The electric utility is expected to be the fastest growing market during the forecast period. During the forecast period, the electric utility segment is expected to be driven by increased investments in distributed power generation for renewable sources such as solar and wind, as well as the introduction of volt/VAr control projects for voltage and power optimization. During the forecast period, North America is predicted to account for the largest market share. Increased investments in volt/VAr management will benefit from lower power losses. In addition, this will increase demand for volt/VAr management in North America. During the forecast era, the United States and Canada are expected to expand rapidly. 

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The Volt or VAr Management Market report has been categorized as below

By Component 

• Hardware

• Load trap (LTC) transformers

• Voltage regulators

• Capacitors banks 

• Software & Services

By Application

• Generation

• Transmission

• Distribution

By End-User

• Electric Utility

• Industrial 

By Region

• North America

• Europe

• Asia Pacific

• Rest of World

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