The global voltage stabilizer system market has been analyzed to possess a fragmented nature as number of international players such as V-Guard, Voltas Ltd., Koncar Group, and Siemens AG look to cement their position in the industry. With a well-fortified presence in almost all major regions of the world, Siemens AG relies on novel ideas to take charge of new markets and research and development activities to outsmart other players on the ground of product portfolio. Voltas Ltd. is reputed as one of the dominating companies in the industry and for providing air conditioning to the world’s tallest building, i.e. Burj Khalifa. The company holds a specialization in ammonia based refrigeration for temperatures that fall to as low as -80°C.
At a CAGR of 6.66% for the forecast period 2016–2024, the global voltage stabilizer system market has been envisioned to climb to US$25.39 bn by the concluding year, according to a report by Transparency Market Research (TMR). In 2016, the market held a valuation of US$15.16 bn. Competing neck to neck with consumer electronics, building automation has been forecasted to secure a lion’s share in the application market. The analysts prognosticate North America to dominate the regional market with a 35.98% share by 2024. However, with the rising deployment of power distribution and transmission systems, Asia Pacific could be a faster growing market.
Mushrooming Power Distribution Networks in BRICS Symbolize Cosmic Demand
The product usage in the global voltage stabilizer system market has been anticipated to see a rise as more number of end users raise eyebrows for security issues and prefer centralized security access. In all the three key regions, viz. Asia Pacific, Europe, and North America, the employment of heating, ventilation and air conditioning (HVAC) system and building automation has elevated significantly.
Players in the international voltage stabilizer system market have been prophesied to be encouraged by profit-making opportunities in North America and Europe, owing to the need for replacing and upgrading aged power distribution networks. Emerging BRICS countries are still untapped for power distribution and transmission.
Electronic design voltage stabilizers are predicted to attract a high demand because of easy compatibility with modern devices such as television sets, refrigerators, air conditioners, and computers.
The world voltage stabilizer system market has also been envisaged to benefit from the consumer electronics segment as it rakes in a high growth due to the improving disposable income of consumers.
Emerging Economies with Power Instability Issue Stand in Way of Growth Inhibitors
Countries with an ample amount and regular frequency of power supply, including the U.S. and those in Europe, do not really require voltage stabilizers as power fluctuation is not an issue. Thus, the voltage stabilizer system market in these regions could suffer, but at a moderate degree. Besides this, the prevailing adoption of eco-friendly and new green technologies has been foreseen by the researchers to cutback the demand in the global voltage stabilizer system market.
Nonetheless, the less developed nations of the world have been foretold to offer opportunities on the back of low stability encountered by main power supplies. Consumers are becoming cautious about the protection of their valuable electronics such as HVAC over damage concerns related to frequent voltage fluctuations.
Low cost voltage stabilizing systems with tap changing facility from the Asia Pacific market could overpower the competition in Africa and South Africa. This interesting level of competition in the aforementioned regions has also been analyzed to birth lucrative opportunities in the global voltage stabilizer system market.
The study presented here is based on a report by TMR, titled “Voltage Stabilizer System Market (Application - Building Automation, HVAC System, Industrial (Other than Power), Power Transmission and Distribution System, Communication Systems, Consumer Electronics, and Aircraft, Defense, and Tea Estates) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global voltage stabilizer system market has been segmented as presented below:
Global Voltage Stabilizer System Market: By Application
- Building Automation
- HVAC system
- Industrial (Other than Power)
- Power Transmission and Distribution System
- Communication System
- Consumer Electronics
- Aircraft, Defense, and Tea Estates
Global Voltage Stabilizer System Market: By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa (MEA)
- Latin America
- Rest of Latin America
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