Volt/VAr Management Market Is Projected to Reach $568 Million by 2024 | Apr 1, 2021 - R... - 0 views
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Almira Coyne on 05 Apr 21According to the new market research report "Volt/VAr Management Market by Application (Distribution, Transmission, and Generation), Component (Hardware and Software and Services), End-User (Electric Utility and Industrial), and Region - Global Forecast to 2024" 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 demand.