The voltage stabilizer system market has shown strong growth, increasing from $20.26 billion in 2023 to $21.59 billion in 2024, at a CAGR of 6.6%. This growth is attributed to rising energy demands, economic expansion, and significant investments in research and development. By 2028, the market is projected to reach $28.16 billion, growing at a CAGR of 6.9%. Key drivers include increased investments in power infrastructure, the growing adoption of electric vehicles, and urbanization. Major trends include the development of advanced energy storage systems, improved power system analysis, and the adoption of smart grid technologies.
Major Driver In The Voltage Stabilizer System Market
The rising demand for electricity is anticipated to fuel the voltage stabilizer system market. Factors such as increasing consumption, infrastructure upgrades, and fluctuating fuel costs are driving this demand. Voltage stabilizer systems are essential for maintaining the reliability and efficiency of electrical systems, protecting sensitive equipment from voltage fluctuations. Eurostat reported in August 2024 that the EU's gross electricity production rose from 2,784 TWh in 2020 to 2,907 TWh in 2021. Consequently, the escalating demand for electricity is expected to propel the voltage stabilizer system market.
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Voltage Stabilizer System Market Competitive Landscape
Hitachi Energy Ltd., Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Larsen & Toubro Limited, Prysmian Group, Nidec Industrial Solutions, Emerson Electric Co., Delta Electronics Inc., Nexans S.A., Legrand SA, Rockwell Automation, Inc., Fuji Electric Co. Ltd., Rittal GmbH & Co. KG, Schweitzer Engineering Laboratories Inc., S&C Electric Company, Crompton Greaves Power and Industrial Solutions Limited, Efacec Power Solutions, SGPS, S.A., Staticon Ltd.
Key Voltage Stabilizer System Market Trend
Major companies in the voltage stabilizer system market are focusing on creating reliable power supply systems to enhance equipment reliability and power quality. These systems are crucial for maintaining stable electricity for various applications. In September 2021, ABB Ltd., a Switzerland-based technology company, launched the HiPerGuard UPS, an industry-first MV UPS providing continuous power supply up to 24 kV for data centers and mission-critical facilities, ensuring reliable operation and reduced downtime.
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Voltage Stabilizer System Market Segmentation
The voltage stabilizer system market covered in this report is segmented –
1) By Type: Automatic Voltage Regulator, Static Voltage Stabilizer, Other Types
2) By Phase: Single Phase, Three Phase
3) By Application: Building Automation, Heating, Ventilation, And Air Conditioning (HVAC) System, Industrial, Power Transmission And Distribution System, Communication System, Consumer Electronics, Other Applications
By Geography:The regions covered in the voltage stabilizer system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the voltage stabilizer system market in 2023.
The Voltage Stabilizer System Global Market Report 2024 furnishes information about the global voltage stabilizer system market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
