Market Trends of Distribution Voltage Regulator Industry
This section covers the major market trends shaping the Distribution Voltage Regulator Market according to our research experts:
Industrial or Utility Sector Expected to Dominate the Market
- Electric energy is transforming into an essential commodity, presently, throughout the world. The transformation has witnessed investments of millions of dollars in the electricity generation landscape and a loss of a similar amount in electricity transmission and distribution. Rising renewable penetration across the world is driving investments in transmission infrastructure.
- On the production side of the business, the pressure is on the utility companies include greener approaches production, and to improve efficiency at every stage of the process with constant voltage supply. Moreover, on the consumption side, increasing load on distribution grids are leading to the severe fluctuation in voltage, which damages various applications. To minimize the damage cost, the dominant company is installing a distribution voltage regulator for constant voltage.
- Furthermore, with the advent of robust information and communication technologies, and new transmission and distribution (T&D) technologies, smart grids are enabling the mitigation of the imbalance between the demand and supply of energy.
- They are enhancing the utility's ability to balance the load, stabilize the grid, and improve resilience. In turn, this encourages various industries to install a cost-effective voltage regulator for the further constant voltage supply of electricity.
- Therefore, the industrial sector, with the increase in the demand for constant voltage supply and technological improvement in the transmission and distribution, is expected to dominate the distribution voltage regulator market.
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Asia-Pacific to Dominate the Market
- The market for the distribution voltage regulator market in the Asia-Pacific region is expected to witness significant growth during the forecast period.
- China is a potentially large market for the distribution voltage regulator market as a vast industrial nation with a forecasted peak load of more than one terawatt by 2020. The country has experienced shortages in power availability because of rapid economic growth, a situation that has ebbed in recent years. To manage this large mismatch number of customers was instructed to install the device for a voltage regulator to protect the application from damage due to fluctuation in electricity supply.
- Adding to this, the Japanese distribution voltage regulator market is likely to witness robust growth shortly, on account of structural reforms in the country's power sector, which is aimed at market liberalization.
- The Japanese government is planning to modernize the country's power sector by creating a competitive consumer market. For Japan, an open market is vital in creating the change essential for developing a sustainable energy sector. Since 2016, the Japanese electricity market has undergone a massive transformation through deregulation. The regulated tariff is scheduled for phase-out by 2020.
- Therefore, increasing efforts to modernize the power sector across the regions by the governments of respective countries are expected to drive the market studied during the forecast period.
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