Dynamic Voltage Restorer (DVR) Market Size, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3492
Dynamic Voltage Restorer Market size will gain momentum on account rising concerns toward loss of huge revenue streams for utilities due to power lags, load imbalances, harmonic variations and similar circuitry faults. Integration of complex and sensitive equipment technologies has been among the prime factors resulting into degradation of power quality (PQ) across electricity networks. However, rigorous efforts to mitigate supply interruptions through power system optimization, equipment modeling, PQ event mitigation & optimization supported by data analysis will strengthen the industry portfolio.
Power transmission industry has observed growth in the recent years owing to the upsurge in demand for smart and efficient transmission & distribution control systems. Increasing demand for refurbishment and retrofit of existing electrical infrastructure coupled with rising investments toward long route grid expansion will drive the DVR market size. Operational safety, economical costs, and ability to infuse network reliability are few indispensable parameters complementing the industry outlook.
Prevailing retrofit & revamping of the electric grid infrastructure infuse significant growth prospects across the U.S. dynamic voltage restorer market. In addition, integration of enhanced grid support mechanism coupled with the integration of intermittent distributed generation systems have positively influenced the industry outlook. Moreover, utility inclination towards deployment of smart electric infrastructure to sustain rising domestic energy consumption will further thrust the product demand.
Ongoing digitalization across the industrial peripheral have posed network failure threats as the industrial and power electronic units feature acute sensitivity to voltage sags and harmonic fluctuations. Moreover, inadequate electric infrastructure across regions including Africa coupled with ongoing renewable integration across the globe in compliance to the COP21 objective have infused a favorable business scenario. However, rising utility interference along with consumer awareness towards electric infrastructure optimization will drive the DVR market growth.
The Europe dynamic voltage restorer market will gain escalation on account of stringent energy efficiency concord along with the upsurge in renewable electricity consumption across the region. Regulators have continuously been channelizing fund flow with an aim to reinforce the domestic electricity transmission and distribution (T&D) infrastructure. Moreover, the integrated framework to fortify EU’s policy including streamlining of investments toward a stable grid through the incentivizing of energy efficient goods and equipment will complement the business outlook.
Expansion of electric infrastructure favored by positive consumer tendencies toward the deployment of smart artificial intelligence systems will augment the DVR market growth. IT implementation across the industry have fostered smart grid expansion, which in turn will positively impact the demand for effective network control and support systems. In addition, upgradation of the grid infrastructure to reinforce network resilience through the integration of efficient equipment, controls and associated technologies will complement the industry outlook.
Prominent dynamic voltage restorer (DVR) market players include ABB, S&C electric, American Superconductor, Hykon Power Electronics and Others. Cost competitiveness, technology focused product development and product assortment have been the key strategies implied by industry participants to sustain industrial competition.
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