Volt/VAr Management Market is Expected to Create New Prospects in Near Future
Global Volt/VAr Management Market Scenario:
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...
Volt/VAr Management Market Opportunities in Key Application Sectors by 2022
The global volt/VAr management market is projected to reach USD 527.1 million by 2022, growing at a CAGR of 5.73%, from 2017 to 2022. This market growth is primarily driven by the increasing emphasis on reduction of distribution losses, optimization of power factor, reduction in operational costs, distributed energy generation complexity, and rising demand for electricity.
North America would continue...