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.
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.
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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.
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