Global Dynamic Voltage Restorer Market: Overview
With the ever-increasing demand for power, industries are increasingly deploying systems that ensure uninterrupted generation, transmission, and distribution of power to minimize their losses in terms of revenue, resources, and productivity. This is positively influencing the growth of the global dynamic voltage restorer market. Dynamic voltage restorers are principally accountable for offering reliable and cost effective protection against power fluctuations. They allow consumers to isolate and protect devices, particularly voltage sensitive equipment from disturbances developed by swells and sags on the distribution lines or power networks. They are primarily used across process, automotive, mining, and electronics industries.
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The report provides a 360-degree overview of the global functional foods market. It does so by offering essential insights into market dynamics and the extent to which they impact the growth of the market. Primary and secondary resources have been taken into account while compiling this study on the market. It extensively covers tools such as Porter’s five force analysis and market attractiveness analysis, which are useful in deriving the competitive landscape of the market. It profiles the prominent players in the market along with their cost and revenue structure, latest developments, business strategies, and contact information. The report also sheds light on the estimated trajectory that each key market player is likely to witness during the forecast period.
Global Dynamic Voltage Restorer Market: Drivers and Restraints
Industrial electronics and power electronics are highly sensitive to even minute voltage fluctuations and this necessitates the use of dynamic voltage restorers for tackling short duration sags. Therefore, the burgeoning utilization of power electronics and industrial electronics are fuelling the global dynamic voltage restorer market. Moreover, the flourishing growth of the semiconductor industry is providing a tremendous boost to the growth of the market. The low cost of maintenance associated with these devices is another factor promoting their widespread adoption.
However, the lack of adequate knowledge among end users to choose the appropriate product for their specific needs is holding back the growth of the global dynamic voltage restorers market. End users often opt for cheaper alternative solutions, which is also hampering the growth of the market. Furthermore, the lack of large capital projects is adversely affecting the growth of the market.
Global Dynamic Voltage Restorer Market: Geographical Segmentation
The key regional markets analyzed in the research report are Asia Pacific, North America, Europe, and Rest of the World. North America will be a prominent market throughout the forecast period. The presence of advanced manufacturing facilities and the high awareness regarding the merits of dynamic voltage restorer are augmenting the growth of the region.
Asia Pacific will exhibit a noteworthy CAGR during the same period. Several companies across the globe are setting up their production base in countries such as South Korea, Japan, Taiwan, and China, which in turn is translating into the greater uptake of dynamic voltage restorers in the region. Rapid commercialization and industrialization and the increasing power quality issues such as voltage spikes, sags, and other irregularities are propelling the market in the region. Furthermore, the robust growth of the semiconductor industry is working in favor of the growth of the region.
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Global Dynamic Voltage Restorer Market: Competitive Landscape
Enterprises in the global dynamic voltage restorer market are pouring large funds into research and development activities to offer advanced products at affordable prices to consumers. This way players are also ensuring that they stay relevant in the market. Some of the key players in the market are American Superconductor Corporation, S&C Electric Company, ABB Ltd., and Hykon Power Electronics Private Ltd.