The global voltage stabilizer systems market features a number of small and large players operating within regional markets as well as on an international level, making up for a market with an intense level of competition for market shares and growth opportunities, observes Transparency Market Research in a recent report. Companies determined to hold sway are focusing more on strategic collaborations, innovations, and expansion of their geographical outreach and product portfolios. Some of the leading companies in the market are Reinhausen Group, V-Guard Industries Ltd, Voltas Limited, Konar Group, and Siemens AG.
According to the report, the global market for voltage stabilizer systems will exhibit a promising 6.66% CAGR over the period between 2016 and 2024, rising to a revenue opportunity of US$25.39 bn by 2024 from US$14.11 bn in 2015.
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Rising Interest in Building Automation in North America Provide Promising Growth Opportunities to Market
Of the key applications of voltage stabilizer systems covered in the report, the segment of building automation presently accounts for a significant share in the overall market and is expected to exhibit the fastest growth pace over the report’s forecast period. Applications of voltage stabilizer systems across the building automation area are expected to allow the global market a revenue opportunity of US$4.29 bn by 2024.
Geographically, the market for voltage stabilizer systems in North America is expected to account for the dominant share of nearly 36% of the global market by the end of the report’s forecast period. Rising adoption of automation in residential as well as industrial spaces in the region will be the key to the increased demand for voltage stabilizer systems in the region in the near future.
Untapped Growth Opportunities in Power Distribution and Transmission Fields in Developing Economies to Drive Market
One of the key growth factors for the global voltage stabilizer systems market is the vast set of untapped growth opportunities in the field of power distribution and transmission in emerging economies of India, Russia, China, Brazil, and South Africa. The rising demand for regular electricity in these economies and the rising numbers of power distribution units to ensure reliable and efficient power supply are expected to play a key role in the potential positive expansion of the market over the next few years. Furthermore, the market in developed economies is expected to benefit from increased demand for replacement and upgradation of outdated elements in power distribution networks and infrastructures. Moreover, the rising global consumption of consumer electronics products such as air conditioners, televisions, computers, and refrigerators is also expected to drive the market.
However, the rising focus on energy conservation and increased adoption of renewable energy sources as a way of reducing the carbon footprint of the power sector globally could hamper the growth of the market to a certain extent, especially across developed countries in regions such as North America and Europe that feature stringent environment protection regulations. Furthermore, the well-established and highly efficient power distribution and transmission infrastructure in developed economies could act as a hindrance for the market by alleviating the need for voltage stabilizer systems.
This analysis of the global voltage stabilizer system market is based on a recent market research report by Transparency Market Research, titled “Voltage Stabilizer System Market (Application - Building Automation, HVAC System, Industrial (Other Power), Power Transmission and Distribution System, Communication Systems, and Consumer Electronics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
For the study, the market has been segmented as follows:
Global Voltage Stabilizer System Market, 2016 – 2024: By Application
- Building Automation
- HVAC system
- Industrial (Other Power)
- Power Transmission and Distribution System
- Communication System
- Consumer Electronics
- Others
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