Global Market for Dynamic Volt/VAR Control Architecture 2015-2019 - New Study Released

From: Fast Market Research, Inc.
Published: Mon Aug 31 2015

Fast Market Research announces the availability of Technavio's new report "Global Dynamic Volt/VAR Control Architecture Market 2015-2019" on their comprehensive research portal.

The variability in voltage parameters is rising with increase in load because of rising energy demand and renewable energy resources integration into the grid. This variability can be dangerous for voltage sensitive equipment such as PCs. Thus, the voltage is required to be regulated under specified limits. Therefore, dynamic Volt/VAR control architecture improves the grid efficiency and helps the power grid to become more flexible.

The reactive power flow is controlled in distribution systems to reduce power loss. The voltage control and reactive power control should be well integrated for the grid system to work efficiently. Utilities employ a number of technologies such as capacitor banks, voltage regulators, and power transformers with on-load tap changers to monitor and adjust the volt/VAR levels. These technologies help utilities to reduce the peak demand, enables power factor levels to reduce energy losses, and implement conservation voltage reduction. This whole process leads to significant reduction in power loss and energy demand.

Technavio's analysts forecast the global market for dynamic volt VAR control architecture to grow at a CAGR of 15.7% during 2014-2019.

Get More Details on this Report and a Full Table of Contents at Global Market for Dynamic Volt/VAR Control Architecture 2015-2019

Commenting on the report, an analyst from Technavio’s team said: "The rising need for better energy efficiency is one of the primary trends observed in this market. Many power utilities have started adopting smart grid technologies and networking solutions to achieve the overall goal of creating an efficient smart grid system. A smart grid consists of a monitoring system where the use of electricity is tracked in detail and imbalances are taken care of."

According to the report, one driver that positively influences growth in this market is the recent increase in the electricity load. Growing energy demand is leading to load growth and variability in load, which is fueling the demand for Volt/VAR controls.

Further, the report states that the high initial cost of implementing Volt/VAR control architecture is one of the major challenges that negatively influences market growth. Upgrading a country's electricity grid into a smart grid involves high installation costs. Large public utilities can recover the money invested because of the large consumer base. However, small utilities find it difficult to invest and recover their capital.

The key players in the Global Dynamic Volt/VAR Control Architecture Market are ABB Ltd., GE Digital Energy, Schneider Electric Corp., Siemens Energy AG, and Silver Spring Network, Inc. while other prominent vendors include ABB Ltd., GE Digital Energy, Schneider Electric Corp., Siemens Energy AG, and Silver Spring Network, Inc.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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