Global Volt Var Management Market Size & Outlook

The volt var management industry worldwide is expected to reach a projected revenue of US$ 715.1 million by 2030. A compound annual growth rate of 5.8% is expected of the worldwide volt var management industry from 2024 to 2030.
Revenue, 2023 (US$M)
$481.0
Forecast, 2030 (US$M)
$715.1
CAGR, 2024 - 2030
5.8%
Report Coverage
Worldwide

Global volt var management market, 2018-2030 (US$M)

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Global volt var management market highlights

  • The global volt var management market generated a revenue of USD 481.0 million in 2023 and is expected to reach USD 715.1 million by 2030.
  • The market is expected to grow at a CAGR (2024 - 2030) of 5.8% by 2030.
  • In terms of segment, hardware accounted for a revenue of USD 481.0 million in 2023.
  • Hardware is the most lucrative component segment registering the fastest growth during the forecast period.
  • In terms of region, North America was the largest revenue generating market in 2023.

Global data book summary

Market revenue in 2023USD 481.0 million
Market revenue in 2030USD 715.1 million
Growth rate5.8% (CAGR from 2024 to 2030)
Largest segmentHardware
Fastest growing segmentHardware
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationHardware

Other key industry trends

  • In terms of revenue, the North America accounted for 39.9% of the global volt var management market in 2023.

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Volt VAR Management Market Scope

Volt var management market segmentation & scope
Software & Services
Application
Distribution
Transmission
Generation
Countries
U.S.
Canada
Mexico
UK
Italy
Germany
France
Spain
China
India
Japan
South Korea
Brazil
Argentina

Volt VAR Management Market Companies

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Global volt var management market size, by regions, 2018-2030 (US$M)

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