Table of Content


1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 DEFINITION 15
1.3 MARKET SCOPE 16
1.3.1 MARKET SEGMENTATION 16
1.3.2 REGIONAL SCOPE 16
1.4 YEARS CONSIDERED FOR THE STUDY 17
1.5 CURRENCY 17
1.6 LIMITATION 17
1.7 STAKEHOLDERS 18

2 RESEARCH METHODOLOGY 19
2.1 SCOPE 19
2.2 MARKET SIZE ESTIMATION 20
2.2.1 DEMAND-SIDE ANALYSIS 20
2.2.1.1 Assumptions 20
2.2.2 SUPPLY-SIDE ANALYSIS 20
2.2.2.1 Assumptions 20
2.2.2.2 Calculation 21
2.2.3 FORECAST 21
2.3 SOME OF THE INSIGHTS OF INDUSTRY EXPERTS 22

3 EXECUTIVE SUMMARY 23

4 PREMIUM INSIGHTS 27
4.1 ATTRACTIVE OPPORTUNITIES IN THE VOLT/VAR MANAGEMENT MARKET DURING THE FORECAST PERIOD 27
4.2 VOLT/VAR MANAGEMENT MARKET, BY REGION 28
4.3 VOLT/VAR MANAGEMENT MARKET, BY APPLICATION 28
4.4 VOLT/VAR MANAGEMENT MARKET, BY COMPONENT 29
4.5 VOLT/VAR MANAGEMENT MARKET, BY END-USER 29

5 MARKET OVERVIEW 30
5.1 INTRODUCTION 30
5.2 MARKET DYNAMICS 30
5.2.1 DRIVERS 31
5.2.1.1 Rising need to reduce T&D losses 31
5.2.1.2 Growing investment in distributed generation & increasing in renewable power generation 31
5.2.1.3 Increasing demand for reliable and secure power network worldwide 33
5.2.1.4 Optimizing power factor and low operational cost 34
5.2.2 RESTRAINTS 34
5.2.2.1 High initial cost of installation 34
5.2.3 OPPORTUNITIES 34
5.2.3.1 Modernization of aging power infrastructure 34
5.2.4 CHALLENGES 35
5.2.4.1 Low acceptance level of the deployment of volt/VAr management in developing countries 35

6 VOLT/VAR MANAGEMENT MARKET, BY COMPONENT 36
6.1 INTRODUCTION 37
6.2 HARDWARE 38
6.2.1 INCREASING NUMBER OF DISTRIBUTION MANAGEMENT PROJECTS IS EXPECTED TO DRIVE THE MARKET 38
6.2.1.1 Load Tap Changer (LTC) transformers 38
6.2.1.2 Voltage regulators 38
6.2.1.3 Capacitor banks 39
6.3 SOFTWARE & SERVICES 39
6.3.1 RISING DEMAND FOR TRACKING REAL TIME DATA CREATES DEMAND
FOR SOFTWARE & SERVICES MARKET 39

7 VOLT/VAR MANAGEMENT MARKET, BY APPLICATION 40
7.1 INTRODUCTION 41
7.2 GENERATION 42
7.2.1 RISING DEMAND FOR EFFICIENT AND LONG- LASTING POWER INFRASTRUCTURE 42
7.3 TRANSMISSION 42
7.3.1 NEED TO REDUCE VOLTAGE STABILITY PROBLEMS AND OPTIMIZE POWER FACTOR FOSTER THE MARKET 42
7.4 DISTRIBUTION 43
7.4.1 NEED TO REDUCE DISTRIBUTION LOSSES IS EXPECTED TO DRIVE THE MARKET 43

8 VOLT/VAR MANAGEMENT MARKET, BY END-USER 45
8.1 INTRODUCTION 46
8.2 ELECTRIC UTILITY 47
8.2.1 INCREASE IN ENERGY CONSUMPTION AND REDUCTION IN OPERATIONAL COST ARE EXPECTED TO DRIVE THE MARKET 47
8.3 INDUSTRIAL 48
8.3.1 NEED TO MINIMIZE VAR LOSSES AND IMPROVE POWER EFFICIENCY IS EXPECTED TO BOOST THE MARKET 48
?

9 VOLT/VAR MANAGEMENT MARKET, BY REGION 49
9.1 INTRODUCTION 50
9.2 NORTH AMERICA 53
9.2.1 BY APPLICATION 54
9.2.2 BY COMPONENT 54
9.2.3 BY END-USER 54
9.2.4 BY COUNTRY 55
9.2.4.1 US 55
9.2.4.1.1 Investments in T&D infrastructure and grid modernization is likely to drive the market 55
9.2.4.2 Canada 56
9.2.4.2.1 Increase in the renewable power generation in Canada is likely to drive the market 56
9.2.4.3 Mexico 57
9.2.4.3.1 Reforms to develop low carbon power generation and development of smart grids are expected to drive the volt/VAr management market 57
9.3 EUROPE 57
9.3.1 BY APPLICATION 59
9.3.2 BY COMPONENT 59
9.3.3 BY END-USER 59
9.3.4 BY COUNTRY 60
9.3.4.1 UK 60
9.3.4.1.1 Investments in T&D network, distribution automation, renewables are expected to drive the market 60
9.3.4.2 Germany 61
9.3.4.2.1 Increasing investments in the automation of T&D lines to reduce T&D losses are likely to drive the demand for the volt/VAr management market 61
9.3.4.3 France 62
9.3.4.3.1 High penetration of the renewable power generation is expected to drive the market 62
9.3.4.4 Russia 63
9.3.4.4.1 Modernization of grids is likely to drive the volt/
VAr management market 63
9.3.4.5 Italy 63
9.3.4.5.1 Investments in advanced control and monitoring systems are expected to boost the demand for the volt/VAr management market 63
9.3.4.6 Spain 64
9.3.4.6.1 Power generation using renewable energy is expected to boost the demand for the volt/VAr management market 64
9.3.4.7 Rest of Europe 65
?
9.4 ASIA PACIFIC 65
9.4.1 BY APPLICATION 66
9.4.2 BY COMPONENT 66
9.4.3 BY END-USER 67
9.4.4 BY COUNTRY 67
9.4.4.1 China 68
9.4.4.1.1 Government initiatives to reduce T&D losses and investment in upgradation of the aging electrical grid is expected to drive the market 68
9.4.4.2 India 69
9.4.4.2.1 Increasing Investments in Smart Grid is likely to drive the Indian volt/VAr management market 69
9.4.4.3 Japan 70
9.4.4.3.1 Rising investments in electric vehicles are expected to drive the market 70
9.4.4.4 South Korea 70
9.4.4.4.1 Increasing focus on renewable energy generation and reducing carbon footprint is a major driver for the volt/var management market 70
9.4.4.5 Indonesia 71
9.4.4.5.1 Rising investment in infrastructure is expected to drive the market 71
9.4.4.6 Australia 72
9.4.4.6.1 Increasing investment renewables and smart grids is expected to drive the market 72
9.4.4.7 Rest of Asia Pacific 73
9.5 SOUTH AMERICA 74
9.5.1 BY APPLICATION 74
9.5.2 BY COMPONENT 75
9.5.3 BY END-USER 75
9.5.4 BY COUNTRY 75
9.5.4.1 Brazil 76
9.5.4.1.1 Government regulation for energy efficiency and increasing T&D investments are likely to drive the market 76
9.5.4.2 Argentina 77
9.5.4.2.1 Need for technological modernization in power generation is expected to boost the demand for the volt/VAr management market 77
9.5.4.3 Rest of South America 77
9.6 MIDDLE EAST & AFRICA 78
9.6.1 BY APPLICATION 78
9.6.2 BY COMPONENT 79
9.6.3 BY END-USER 79
9.6.4 BY COUNTRY 80
9.6.4.1 South Africa 80
9.6.4.1.1 Focus on the distribution network to tackle the growing electricity demand is expected to foster the demand for the South African volt/VAr management market 80
9.6.4.2 Nigeria 81
9.6.4.2.1 Growing power generation capacity and increasing investment opportunities in transmission network are likely to increase the demand for the volt/VAr management market 81
9.6.4.3 Saudi Arabia 82
9.6.4.3.1 Growing power generation capacity with increasing investments in the T&D network is expected to drive the market 82
9.6.4.4 UAE 83
9.6.4.4.1 Growing investments in smart grid and T&D infrastructure is likely to increase the demand for volt/VAr management market in UAE 83
9.6.4.5 Kuwait 83
9.6.4.5.1 Growing investments in power distribution grid connection are expected to drive the market 83
9.6.4.6 Rest of Middle East & Africa 84

10 COMPETITIVE LANDSCAPE 85
10.1 INTRODUCTION 85
10.2 MARKET SHARE ANALYSIS 86
10.3 COMPETITIVE SCENARIO 87
10.3.1 NEW PRODUCT LAUNCHES 88
10.3.2 CONTRACTS & AGREEMENTS 88
10.3.3 PARTNERSHIPS 89
10.4 COMPETITIVE LEADERSHIP MAPPING 89
10.4.1 VISIONARY LEADERS 89
10.4.2 INNOVATORS 89
10.4.3 DYNAMIC 89
10.4.4 EMERGING 89
11 COMPANY PROFILE 91
(Business Overview, Products Offered, Recent Developments, and MnM View)*
11.1 ABB 91
11.2 EATON 93
11.3 GE 95
11.4 SCHNEIDER 97
11.5 SIEMENS 100
11.6 LANDIS+GYR 102
11.7 ADVANCED CONTROL SYSTEMS 104
11.8 DVI 106
11.9 OPEN SYSTEMS INTERNATIONAL 108
11.10 UTILIDATA 111
11.11 VARENTEC 113
11.12 BECKWITH ELECTRIC 115
11.13 DC SYSTEMS 116
11.14 S&C ELECTRIC COMPANY 117
*Details on Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
12 APPENDIX 118
12.1 INSIGHTS OF INDUSTRY EXPERTS 118
12.2 DISCUSSION GUIDE 118
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS? SUBSCRIPTION PORTAL 121
12.4 AVAILABLE CUSTOMIZATIONS 123
12.5 RELATED REPORTS 123
12.6 AUTHOR DETAILS 124



List of Figures




FIGURE 1 DISTRIBUTION SEGMENT IS EXPECTED TO LEAD THE VOLT/VAR MANAGEMENT MARKET, BY APPLICATION, DURING THE FORECAST PERIOD 24
FIGURE 2 HARDWARE SEGMENT IS EXPECTED TO LEAD THE VOLT/VAR MANAGEMENT MARKET, BY COMPONENT, DURING THE FORECAST PERIOD 24
FIGURE 3 ELECTRIC UTILITY SEGMENT IS EXPECTED TO LEAD THE VOLT/VAR MANAGEMENT MARKET, BY END-USER, DURING THE FORECAST PERIOD 25
FIGURE 4 NORTH AMERICA IS EXPECTED TO DOMINATE THE VOLT/VAR MANAGEMENT MARKET IN TERMS OF CAGR DURING THE FORECAST PERIOD 25
FIGURE 5 REDUCTION IN DISTRIBUTION LOSSES, RISING DEMAND FOR ELECTRICITY, AND OPTIMIZING POWER FACTOR ARE DRIVING THE VOLT/VAR MANAGEMENT MARKET, 2019–2024 27
FIGURE 6 THE MARKET IN NORTH AMERICA IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 28
FIGURE 7 DISTRIBUTION SEGMENT DOMINATED THE VOLT/VAR MANAGEMENT MARKET BY APPLICATION, IN 2018 28
FIGURE 8 HARDWARE SEGMENT DOMINATED THE VOLT/VAR MANAGEMENT MARKET BY COMPONENT, IN 2018 29
FIGURE 9 ELECTRIC UTILITY SEGMENT DOMINATED THE VOLT/VAR MANAGEMENT MARKET, BY END-USER, IN 2018 29
FIGURE 10 VOLT/VAR MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES 30
FIGURE 11 CAPITAL COST OF DISTRIBUTION GENERATION TECHNOLOGIES, 2015–2040 32
FIGURE 12 RENEWABLE ENERGY GENERATION (TWH) 33
FIGURE 13 HARDWARE SEGMENT ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2018 37
FIGURE 14 DISTRIBUTION SEGMENT ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2018 41
FIGURE 15 ELECTRIC UTILITY SEGMENT ACCOUNTED FOR THE LARGEST MARKET
SHARE IN 2018 46
FIGURE 16 REGIONAL SNAPSHOT: NORTH AMERICAN VOLT/VAR MANAGEMENT MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 50
FIGURE 17 VOLT/VAR MANAGEMENT MARKET SHARE (VALUE), BY REGION, 2018 51
FIGURE 18 NORTH AMERICA: REGIONAL SNAPSHOT 53
FIGURE 19 EUROPE: REGIONAL SNAPSHOT 58
FIGURE 20 KEY DEVELOPMENTS IN THE VOLT/VAR MANAGEMENT MARKET DURING JANUARY 2016–JUNE 2019 85
FIGURE 21 MARKET SHARE ANALYSIS, 2018 86
FIGURE 22 VOLT/VAR MANAGEMENT MARKET (GLOBAL) COMPETITIVE LEADERSHIP
MAPPING, 2018 90
FIGURE 23 ABB: COMPANY SNAPSHOT 91
FIGURE 24 EATON: COMPANY SNAPSHOT 93
FIGURE 25 GE: COMPANY SNAPSHOT 95
FIGURE 26 SCHNEIDER: COMPANY SNAPSHOT 97
FIGURE 27 SIEMENS: COMPANY SNAPSHOT 100
FIGURE 28 LANDIS+GYR: COMPANY SNAPSHOT 102

 

List of Tables




TABLE 1 INVESTMENTS IN T&D AND DISTRIBUTION AUTOMATION ARE THE DETERMINING FACTORS FOR THE GLOBAL VOLT/VAR MANAGEMENT MARKET 20
TABLE 2 VOLT/VAR MANAGEMENT MARKET SNAPSHOT 23
TABLE 3 VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 37
TABLE 4 HARDWARE: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 38
TABLE 5 SOFTWARE & SERVICES: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2017–2024 (USD THOUSAND) 39
TABLE 6 VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD MILLION) 41
TABLE 7 GENERATION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION 2017–2024 (USD THOUSAND) 42
TABLE 8 TRANSMISSION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION 2017–2024 (USD THOUSAND) 43
TABLE 9 DISTRIBUTION: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION 2017–2024 (USD THOUSAND) 43
TABLE 10 VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER 2017–2024 (USD MILLION) 46
TABLE 11 ELECTRIC UTILITY: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION 2017–2024 (USD MILLION) 47
TABLE 12 INDUSTRIAL: VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2017–2024 (USD THOUSAND) 48
TABLE 13 VOLT/VAR MANAGEMENT MARKET SIZE, BY REGION, 2017–2024 (USD MILLION) 51
TABLE 14 TOP FIVE LARGEST MARKETS: VOLT/VAR MANAGEMENT MARKET SIZE, BY DISTRIBUTION, 2017–2024 (USD MILLION) 52
TABLE 15 TOP FIVE LARGEST MARKETS: VOLT/VAR MANAGEMENT MARKET SIZE, BY TRANSMISSION, 2017–2024 (USD THOUSAND) 52
TABLE 16 TOP FIVE FASTEST GROWING MARKETS, BY COUNTRY, 2017–2024 (USD MILLION) 52
TABLE 17 NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2017–2024 (USD MILLION) 54
TABLE 18 NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION) 54
TABLE 19 NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER 2017–2024 (USD MILLION) 54
TABLE 20 NORTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 55
TABLE 21 US: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 56
TABLE 22 CANADA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 56
TABLE 23 MEXICO: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 57
TABLE 24 EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD MILLION) 59
TABLE 25 EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT 2017–2024 (USD MILLION) 59
TABLE 26 EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER 2017–2024 (USD MILLION) 59
TABLE 27 EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 60
TABLE 28 UK: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 61
TABLE 29 GERMANY: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 61
TABLE 30 FRANCE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 62
TABLE 31 RUSSIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 63
TABLE 32 ITALY: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 64
TABLE 33 SPAIN: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 64
TABLE 34 REST OF EUROPE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2017–2024 (USD THOUSAND) 65
TABLE 35 ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 66
TABLE 36 ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT 2017–2024 (USD THOUSAND) 66
TABLE 37 ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER 2017–2024 (USD THOUSAND) 67
TABLE 38 ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY 2017–2024 (USD THOUSAND) 67
TABLE 39 CHINA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 68
TABLE 40 INDIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 69
TABLE 41 JAPAN: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 70
TABLE 42 SOUTH KOREA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 71
TABLE 43 INDONESIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 72
TABLE 44 AUSTRALIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 73
TABLE 45 REST OF ASIA PACIFIC: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2017–2024 (USD THOUSAND) 74
TABLE 46 SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2017–2024 (USD THOUSAND) 74
TABLE 47 SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2017–2024 (USD THOUSAND) 75
TABLE 48 SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER 2017–2024 (USD THOUSAND) 75
TABLE 49 SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY 2017–2024 (USD MILLION) 75
TABLE 50 BRAZIL: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 76
TABLE 51 ARGENTINA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 77
TABLE 52 REST OF SOUTH AMERICA: VOLT/VAR MANAGEMENT MARKET SIZE BY APPLICATION, 2017–2024 (USD THOUSAND) 78
TABLE 53 MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION, 2017–2024 (USD MILLION) 78
TABLE 54 MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COMPONENT, 2017–2024 (USD THOUSAND) 79
TABLE 55 MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY END-USER, 2017–2024 (USD MILLION) 79
TABLE 56 MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY COUNTRY, 2017–2024 (USD THOUSAND) 80
TABLE 57 SOUTH AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 81
TABLE 58 NIGERIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 81
TABLE 59 SAUDI ARABIA: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 82
TABLE 60 UAE: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 83
TABLE 61 KUWAIT: VOLT/VAR MANAGEMENT MARKET SIZE, BY APPLICATION 2017–2024 (USD THOUSAND) 84
TABLE 62 REST OF MIDDLE EAST & AFRICA: VOLT/VAR MANAGEMENT MARKET SIZE BY APPLICATION, 2017–2024 (USD THOUSAND) 84
TABLE 63 DEVELOPMENTS BY KEY PLAYERS IN THE MARKET, JANUARY 2016–APRIL 2019 87