{"id":531415,"date":"2021-02-24T05:18:01","date_gmt":"2021-02-24T05:18:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=531415"},"modified":"2021-02-24T05:18:01","modified_gmt":"2021-02-24T05:18:01","slug":"voltvar-management-market-is-projected-to-reach-568-million-by-2024-leading-key-players-are-abb-schneider-electric-siemens-ge-eaton-utilidata-varentec","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/voltvar-management-market-is-projected-to-reach-568-million-by-2024-leading-key-players-are-abb-schneider-electric-siemens-ge-eaton-utilidata-varentec_531415.html","title":{"rendered":"Volt\/VAr Management Market is Projected to Reach $568 million by 2024 | Leading key players are ABB, Schneider Electric, Siemens, GE, Eaton, Utilidata, Varentec"},"content":{"rendered":"
\"Volt\/VAr<\/a><\/p>\n
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The leading players in the market are ABB (Switzerland), Eaton (Ireland), GE (US), Schneider (France), Siemens (Germany), Landis+Gyr (Switzerland), DVI (US), Open Systems International (US), Utilidata (US), and Varentec (US).<\/div>\n<\/div>\n<\/div>\n
The volt\/VAr management market is projected to reach a size of USD 568 million by 2024, at a CAGR of 5.9%, from an estimated USD 427 million in 2019.<\/div>\n

According to the new market research report “Volt\/VAr Management Market <\/a>by Application (Distribution, Transmission, and Generation), Component (Hardware and Software and Services), End-User (Electric Utility and Industrial), and Region – Global Forecast to 2024″ <\/strong>The global volt\/VAr management market is estimated to be worth USD 427 million in 2019 and is projected to reach USD 568 million by 2024, growing at a CAGR of 5.9%, during the forecast period. The market is set to grow due to a focus on the reduction of electricity losses in power distribution, a need to optimize power factor, and rising electricity demand.<\/p>\n

Browse 112 market data Tables and 28 Figures spread through 145 Pages and in-depth TOC on <\/strong><\/em>“Volt\/VAr Management Market – Global Forecast to 2024”<\/strong><\/p>\n

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Download PDF Brochure @<\/strong> https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=8948284<\/a><\/p>\n

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The distribution segment is expected to hold the largest share of the volt\/VAr management market, by application, during the forecast period. <\/strong><\/p>\n

The distribution segment is driven by investments in smart grids and a need to reduce power outages and faults in distribution feeders. Upcoming plans for upgrading the existing infra and new T&D projects in economies such as the US, China, India, the UK, France, Spain, Norway, Denmark, Belgium, and Ireland are expected to boost the volt\/VAr management market growth during the forecast period.<\/p>\n

The hardware segment is expected to dominate the volt\/VAr management market, by component, in 2018.<\/strong><\/p>\n

Based on the component, the hardware segment is expected to grow at the fastest rate from 2019 to 2024 due to a need to reduce system-wide losses and minimize the distribution system & customer voltage variations. The increasing number of substation automation projects will drive the market during the forecast period.<\/p>\n

North America is expected to be the leading market for volt\/VAr management <\/strong>during the forecast period. <\/strong><\/p>\n

The volt\/VAr management market has been analyzed for five regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The North American market is expected to lead the volt\/VAr management market during the forecast period. Increasing investments in renewable energy and volt\/VAr optimization projects in the utility sector are the key factors driving the volt\/VAr management market in North America.<\/p>\n

Speak to Analyst @ https:\/\/www.marketsandmarkets.com\/speaktoanalystNew.asp?id=8948284<\/a><\/strong><\/p>\n

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the volt\/VAr management market<\/strong>. Some of the key players in the volt\/VAr management market include ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), Eaton (Ireland), Open System International (US), Utilidata (US), Varentec (US), and Landis+Gyr (Switzerland). The leading players are adopting various strategies to increase their shares in volt\/VAr management market.<\/p>\n

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The leading players in the market are ABB (Switzerland), Eaton (Ireland), GE (US), Schneider (France), Siemens (Germany), Landis+Gyr (Switzerland), DVI (US), Open Systems International (US), Utilidata (US), and Varentec (US). The volt\/VAr management market is projected to reach a size … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[408,409,411],"tags":[],"class_list":["post-531415","post","type-post","status-publish","format-standard","hentry","category-Electronics-Semiconductors","category-Energy-Environment","category-Technology"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/531415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=531415"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/531415\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=531415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=531415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=531415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}