Dynamic Voltage Restorer Market Size & Growth Analysis to 2030

The global dynamic voltage restorer market size was valued at over USD 200 million in 2021 and expected to register a higher CAGR of over 10% during the forecast period from 2022 to 2028. The increasing demand for uninterrupted power transmission and distribution is a major factor driving the market growth. Furthermore, the increasing use of electronics in power and industrial applications is further anticipated to fuel the market over the forecast period. Moreover, the significant growth in the semiconductor industry and the low maintenance cost of the product are further anticipated to propel the market growth.

Market Drivers:

Increasing Power Quality Concerns: The growing demand for reliable and high-quality electrical power is driving the need for voltage stabilization and mitigation of power quality issues. Voltage sags, swells, and interruptions can cause equipment damage, production losses, and disruption in industrial processes. DVRs are effective solutions for mitigating voltage disturbances and ensuring stable and high-quality power supply.

Growth of Sensitive Electronic Devices: The proliferation of sensitive electronic devices, such as computers, data centers, medical equipment, and industrial control systems, has increased the vulnerability to voltage fluctuations. These devices require a stable and clean power supply to function properly. DVRs offer fast and accurate voltage correction capabilities, protecting sensitive equipment from voltage variations and ensuring their reliable operation.

Expansion of Renewable Energy Integration: The integration of renewable energy sources, such as solar and wind, into the power grid introduces variability and intermittency in power generation. DVRs play a crucial role in stabilizing the voltage profile of the grid by compensating for fluctuations caused by renewable energy sources. They help maintain grid stability, mitigate power quality issues, and enable smooth integration of renewable energy systems.

Industrial and Commercial Applications: The industrial and commercial sectors, including manufacturing plants, data centers, hospitals, and critical infrastructure facilities, require stable and reliable power for uninterrupted operations. DVRs provide voltage support, voltage regulation, and power conditioning in these applications, ensuring continuous power supply and minimizing the risk of production disruptions and equipment failures.

Increasing Grid Complexity and Aging Infrastructure: The power grid is becoming increasingly complex with the integration of distributed energy resources, smart grid technologies, and microgrids. This complexity, combined with the aging infrastructure of the power grid, can lead to voltage fluctuations and power quality issues. DVRs help address these challenges by providing voltage support, compensating for voltage variations, and improving grid stability and reliability.

Government Regulations and Standards: Governments and regulatory bodies are implementing standards and regulations to ensure power quality and reliability. These regulations often include requirements for voltage stabilization and mitigation of power quality issues. The adoption of DVRs helps utilities and industries comply with these regulations, avoid penalties, and maintain high power quality standards.

Cost of Power Interruptions and Equipment Damage: Power interruptions and voltage fluctuations can result in significant financial losses due to production downtime, equipment damage, and data loss. DVRs offer cost-effective solutions for reducing these losses by mitigating voltage disturbances and maintaining a stable power supply. The investment in DVRs is justified by the potential cost savings from preventing production disruptions and equipment failures.

Technological Advancements: Continuous advancements in DVR technology, such as improved control algorithms, faster response times, enhanced energy storage systems, and higher power ratings, contribute to market growth. These advancements improve the performance, efficiency, and reliability of DVRs, making them more effective in voltage stabilization and power quality improvement.

Market Snapshot:

Market Insights:

By application, the medium voltage level segment is expected to grow at the highest CAGR over the forecast period

The global dynamic voltage restorer market is bifurcated into type, application, and geography. On the basis of type, the market is further segmented into low voltage level, and medium-voltage level. The low voltage level segment dominated the global in 2021 and is expected to hold the largest revenue share of around 2/3 market share by the end of the analysis period. The increasing use of the product in industrial applications is a major factor driving the segmented growth. on the flip side, the medium voltage level segment is estimated to grow at the fastest growth rate over the forecast period.

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The dynamic voltage restorer comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The dynamic voltage restorer market research report presents the analysis of each segment from 2019 to 2028 considering 2021 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2022 to 2028.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Type:

• Low Voltage Level
• Medium Voltage Level

By Application:

• Chemical Plants
• Steel Plants
• Mining Industries
• Electronics
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By regional analysis, North America held the largest market share of the global market in 2021

On the basis of region, North America is expected to hold the prominent revenue share of the global dynamic voltage restorer market by the end of the analysis period. The presence of advanced manufacturing facilities and high awareness about the properties of dynamic voltage restorers are driving the growth of the market in the region. On the flip side, the Asia Pacific is estimated to grow at a considerable CAGR over the forecast period. The rapid growth in industrialization in developing economies, significant growth in the semiconductor industry, and the growing power utility issues are expected to fuel the market growth in the Asia Pacific.

Geographically, the dynamic voltage restorer market report comprises dedicated sections centering on the regional market revenue and trends. The dynamic voltage restorer market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The dynamic voltage restorer market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Dynamic voltage restorer market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.

Competitive Assessment:

Some of the prominent market players operating in the global dynamic voltage restorer market are American Superconductor Corporation, S&C Electric Company, ABB Ltd., Hykon Power Electronics Private Ltd., and Eaton Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• American Superconductor Corporation
• S&C Electric Company
• ABB Ltd.
• Hykon Power Electronics Private Ltd.
• Eaton Corporation
• Pushon Electric
• S&C Electric Company
• SandC Electric Company
• Siemens AG
• Xinneng Power (Beijing) Electric Technology Co., Ltd.

Key Questions Answered by Dynamic Voltage Restorer Market Report

• Global dynamic voltage restorer market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Dynamic voltage restorer submarket forecasts from 2022-2028 covering the market by type, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level dynamic voltage restorer markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market