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US Smart Grid Volt-Var Control Technologies Market Research Report Information By Volt-Var Control Technologies (Capacitor Bank, On-Line Tap Changer (OLTC) Control, Smart PV Inverters, Voltage Optimization (VO) Technology, and Others), By Type (Fixed Voltage Reduction and Variable Voltage Reduction), By Voltage (Low and High) And By Region (Northeast, Southwest, West, Southeast, and Midwest) –Industry Forecast Till 2032


ID: MRFR/SEM/19913-CR | 128 Pages | Author: Aarti Dhapte| March 2024

US Smart Grid Volt-Var Control Technologies Market Segmentation


US Smart Grid Volt-Var Control Technologies technology Outlook (USD Million, 2019-2032)



  • Capacitor Bank

  • On-Line Tap Changer (OLTC) Control

  • Smart PV Inverters

  • Voltage Optimization (VO) Technology

    • By Type

      • Fixed Voltage Reduction

      • Variable Voltage Reduction



    • By Voltage

      • Low

      • High



    • Others




US Smart Grid Volt-Var Control Technologies Regional Outlook (USD Million, 2019-2032)




  • Northeast Outlook (USD Million, 2019-2032)

    • Capacitor Bank

    • On-Line Tap Changer (OLTC) Control

    • Smart PV Inverters

    • Voltage Optimization (VO) Technology

      • By Type

        • Fixed Voltage Reduction

        • Variable Voltage Reduction



      • By Voltage

        • Low

        • High



      • Others



    • Southwest

      • Capacitor Bank

      • On-Line Tap Changer (OLTC) Control

      • Smart PV Inverters

      • Voltage Optimization (VO) Technology

        • By Type

          • Fixed Voltage Reduction

          • Variable Voltage Reduction



        • By Voltage

          • Low

          • High



        • Others



      • West

        • Capacitor Bank

        • On-Line Tap Changer (OLTC) Control

        • Smart PV Inverters

        • Voltage Optimization (VO) Technology

          • By Type

            • Fixed Voltage Reduction

            • Variable Voltage Reduction



          • By Voltage

            • Low

            • High



          • Others



        • Southeast

          • Capacitor Bank

          • On-Line Tap Changer (OLTC) Control

          • Smart PV Inverters

          • Voltage Optimization (VO) Technology

            • By Type

              • Fixed Voltage Reduction

              • Variable Voltage Reduction



            • By Voltage

              • Low

              • High



            • Others



          • Midwest

            • Capacitor Bank

            • On-Line Tap Changer (OLTC) Control

            • Smart PV Inverters

            • Voltage Optimization (VO) Technology

              • By Type

                • Fixed Voltage Reduction

                • Variable Voltage Reduction



              • By Voltage

                • Low

                • High



              • Others














 

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TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 16

2 MARKET INTRODUCTION 18

2.1 DEFINITION 18

2.2 SCOPE OF THE STUDY 18

2.3 RESEARCH OBJECTIVE 18

2.4 MARKET STRUCTURE 19

3 RESEARCH METHODOLOGY 20

3.1 OVERVIEW 20

3.2 DATA FLOW 22

3.2.1 DATA MINING PROCESS 22

3.3 PURCHASED DATABASE: 23

3.4 SECONDARY SOURCES: 24

3.4.1 SECONDARY RESEARCH DATA FLOW: 25

3.5 PRIMARY RESEARCH: 26

3.5.1 PRIMARY RESEARCH DATA FLOW: 27

3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 28

3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 28

3.6.1 CONSUMPTION & NET TRADE APPROACH 28

3.6.2 REVENUE ANALYSIS APPROACH 29

3.7 DATA FORECASTING 29

3.7.1 DATA FORECASTING TECHNIQUE 30

3.8 DATA MODELING 30

3.8.1 MICROECONOMIC FACTOR ANALYSIS: 30

3.8.2 DATA MODELING: 31

3.9 TEAMS AND ANALYST CONTRIBUTION 32

4 MARKET DYNAMICS 34

4.1 INTRODUCTION 34

4.2 DRIVERS 35

4.2.1 GROWING ADVANTAGES OF SMART GRID TECHNOLOGY 35

4.2.2 GROWING NEED TO UPDATE FROM A TRADITIONAL ELECTRICITY GRID TO A SMART GRID 39

4.2.3 STRONG GOVERNMENT FOCUS ON GRID MODERNIZATION 40

4.3 RESTRAINTS/ CHALLENGES 42

4.3.1 SMART GRID ADOPTION CHALLENGES 42

4.4 OPPORTUNITY 43

4.4.1 DEMAND RESPONSE WITH VOLT/ VAR OPTIMIZATION FOR UNBALANCED ACTIVE DISTRIBUTION SYSTEMS 43

4.4.2 GROWING DEMAND FOR MICROGRIDS 44

4.4.3 NEED FOR CONSERVATION VOLTAGE REDUCTION/ VOLT VAR OPTIMIZATION PRACTICES 46

5 MARKET FACTOR ANALYSIS 48

5.1 SUPPLY CHAIN ANALYSIS 48

5.2 COVID-19 IMPACT ANALYSIS 49

6 US SMART GRID TECHNOLOGY MARKET INSIGHTS 52

6.1 TECHNOLOGY TREND ANALYSIS 52

6.1.1 DISTRIBUTION ENERGY RESOURCES (DERS) 52

6.1.2 MERGING ELECTRIC VEHICLES (EVS) INTO MODERN LIFE 52

6.1.3 ENERGY STORAGE 52

6.1.4 MICROGRIDS 52

6.1.5 ARTIFICIAL INTELLIGENCE (AI) 53

6.2 MARKET/ REGULATORY TREND ANALYSIS 53

6.2.1 LEVERAGING DEMAND RESPONSE (DR) AGGREGATORS IN TRADITIONALLY REGULATED STATES 53

6.2.2 IMPORTANCE OF CAPACITY/AVAILABILITY 53

6.2.3 INCREASING NON-WIRES ALTERNATIVES FOR GRID RELIEF 54

6.2.4 ACCESSING FEDERAL FUNDING PROGRAMS FOR UTILITIES 54

6.3 US SMART GRID TECHNOLOGY - PESTEL ANALYSIS 55

6.4 US SMART GRID TECHNOLOGY - SWOT ANALYSIS 56

6.5 US REGULATORY LANDSCAPE ANALYSIS 58

6.5.1 GRID MODERNIZATION INITIATIVE (GMI) 58

6.6 US SMART GRID DEPLOYMENT EFFORTS 60

6.7 MAJOR PROJECTS ACROSS US 66

6.8 MATURITY LEVELS AND DEPLOYMENT TRENDS OF SMART GRID TECHNOLOGIES 69

6.9 CVR INVESTMENTS EXPAND THE CAPABILITY, BENEFITS OF SMART GRID DEPLOYMENTS 72

6.9.1 STANDARDIZING CONSERVATION VOLTAGE REDUCTION MEASUREMENT & VERIFICATION 73

6.10 POLICIES, REGULATORY FRAMEWORKS, INITIATIVES: ACTIONS AND MILESTONES 75

6.10.1 TECHNOLOGY DEVELOPMENT: ACTIONS AND MILESTONES 75

6.10.2 POLICY AND REGULATORY FRAMEWORK: ACTIONS AND MILESTONES 76

6.11 CONCLUSION 78

7 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES 81

7.1 OVERVIEW 81

7.2 CAPACITOR BANK 83

7.3 ON-LINE TAP CHANGER (OLTC) CONTROL 84

7.4 SMART PV INVERTERS 84

7.5 VOLTAGE OPTIMIZATION (VO) TECHNOLOGY 84

7.5.1 US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE 84

7.5.1.1 FIXED VOLTAGE REDUCTION 84

7.5.1.2 VARIABLE VOLTAGE REDUCTION 85

7.5.2 US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE 85

7.5.2.1 LOW 85

7.5.2.2 HIGH 85

7.6 OTHERS 85

8 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY REGION 86

8.1 OVERVIEW 86

8.2 NORTHEAST 88

8.3 SOUTHWEST 90

8.4 WEST 91

8.5 SOUTHEAST 93

8.6 MIDWEST 94

9 COMPETITIVE LANDSCAPE 97

9.1 INTRODUCTION 97

9.2 MARKET SHARE ANALYSIS, 2022 98

9.3 COMPETITOR DASHBOARD 99

9.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 100

9.4.1 PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET 100

10 COMPANY PROFILE 101

10.1 ABB LTD. 101

10.1.1 COMPANY OVERVIEW 101

10.1.2 FINANCIAL OVERVIEW 102

10.1.3 PRODUCTS OFFERED 103

10.1.4 KEY DEVELOPMENTS 103

10.1.5 SWOT ANALYSIS 104

10.1.6 KEY STRATEGIES 104

10.2 SIEMENS. 105

10.2.1 COMPANY OVERVIEW 105

10.2.2 FINANCIAL OVERVIEW 106

10.2.3 PRODUCTS OFFERED 106

10.2.4 KEY DEVELOPMENTS 106

10.2.5 SWOT ANALYSIS 107

10.2.6 KEY STRATEGIES 107

10.3 SCHNEIDER ELECTRIC. 108

10.3.1 COMPANY OVERVIEW 108

10.3.2 FINANCIAL OVERVIEW 109

10.3.3 PRODUCTS OFFERED 109

10.3.4 KEY DEVELOPMENTS 109

10.3.5 SWOT ANALYSIS 110

10.3.6 KEY STRATEGIES 110

10.4 GENERAL ELECTRIC CO. 111

10.4.1 COMPANY OVERVIEW 111

10.4.2 FINANCIAL OVERVIEW 112

10.4.3 PRODUCTS OFFERED 112

10.4.4 KEY DEVELOPMENTS 112

10.4.5 SWOT ANALYSIS 113

10.4.6 KEY STRATEGIES 113

10.5 EATON. 114

10.5.1 COMPANY OVERVIEW 114

10.5.2 FINANCIAL OVERVIEW 115

10.5.3 PRODUCTS OFFERED 115

10.5.4 KEY DEVELOPMENTS 116

10.5.5 SWOT ANALYSIS 116

10.5.6 KEY STRATEGIES 116

10.6 ETAP 117

10.6.1 COMPANY OVERVIEW 117

10.6.2 FINANCIAL OVERVIEW 117

10.6.3 PRODUCTS OFFERED 118

10.6.4 KEY DEVELOPMENTS 118

10.6.5 SWOT ANALYSIS 118

10.6.6 KEY STRATEGIES 118

10.7 HITACHI. 119

10.7.1 COMPANY OVERVIEW 119

10.7.2 FINANCIAL OVERVIEW 120

10.7.3 PRODUCTS OFFERED 120

10.7.4 KEY DEVELOPMENTS 121

10.7.5 SWOT ANALYSIS 121

10.7.6 KEY STRATEGIES 121

10.8 MITSUBISHI ELECTRIC. 122

10.8.1 COMPANY OVERVIEW 122

10.8.2 FINANCIAL OVERVIEW 123

10.8.3 PRODUCTS OFFERED 123

10.8.4 KEY DEVELOPMENTS 124

10.8.5 SWOT ANALYSIS 124

10.8.6 KEY STRATEGIES 124

10.9 AMERICAN SUPERCONDUCTOR CORPORATION. 125

10.9.1 COMPANY OVERVIEW 125

10.9.2 FINANCIAL OVERVIEW 126

10.9.3 PRODUCTS OFFERED 126

10.9.4 KEY DEVELOPMENTS 126

10.9.5 SWOT ANALYSIS 127

10.9.6 KEY STRATEGIES 127

10.10 VARENTEC. 128

10.10.1 COMPANY OVERVIEW 128

10.10.2 FINANCIAL OVERVIEW 128

10.10.3 PRODUCTS OFFERED 128

10.10.4 KEY DEVELOPMENTS 129

10.10.5 SWOT ANALYSIS 129

10.10.6 KEY STRATEGIES 129

10.11 Data Citations 131

LIST OF TABLES

TABLE 1 MARKET SYNOPSIS 17

TABLE 2 QFD MODELING FOR MARKET SHARE ASSESSMENT 31

TABLE 3 KEY DIFFERENCES BETWEEN TRADITIONAL ELECTRICITY GRID AND SMART GRID 39

TABLE 4 DEVICES AND SYSTEMS THAT SUPPORT DISTRIBUTION AUTOMATION (DA) APPLICATIONS 60

TABLE 5 SUMMARY OF STATE LEVEL REGULATORY AND POLICY ACTIONS 61

TABLE 6 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES, 2019-2032

(USD MILLION) 82

TABLE 7 US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 82

TABLE 8 US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 83

TABLE 9 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY REGION, 2019–2032 (USD MILLION) 88

TABLE 10 NORTHEAST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2019–2032 (USD MILLION) 89

TABLE 11 NORTHEAST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 89

TABLE 12 NORTHEAST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 89

TABLE 13 SOUTHWEST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2019–2032 (USD MILLION) 90

TABLE 14 SOUTHWEST VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 90

TABLE 15 SOUTHWEST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 91

TABLE 16 WEST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES, 2019–2032

(USD MILLION) 92

TABLE 17 WEST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 92

TABLE 18 WEST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 92

TABLE 19 SOUTHEAST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2019–2032 (USD MILLION) 93

TABLE 20 SOUTHEAST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 94

TABLE 21 SOUTHEAST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 94

TABLE 22 MIDWEST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2019–2032 (USD MILLION) 95

TABLE 23 MIDWEST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY TYPE, 2019–2032 (USD MILLION) 95

TABLE 24 MIDWEST US VOLTAGE OPTIMIZATION (VO) TECHNOLOGY MARKET, BY VOLTAGE, 2019–2032 (USD MILLION) 95

TABLE 25 PRODUCT LAUNCH/PRODUCT APPROVAL 100

TABLE 26 ABB LTD: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 103

TABLE 27 SIEMENS: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 106

TABLE 28 SCHNEIDER ELECTRIC: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 109

TABLE 29 GENERAL ELECTRIC CO.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 112

TABLE 30 EATON: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 115

TABLE 31 ETAP: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 118

TABLE 32 HITACHI: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 120

TABLE 33 MITSUBISHI ELECTRIC: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 123

TABLE 34 MITSUBISHI ELECTRIC: KEY DEVELOPMENTS 124

TABLE 35 AMERICAN SUPERCONDUCTOR CORPORATION: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 126

TABLE 36 VARENTEC: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 128

LIST OF FIGURES

FIGURE 1 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIESMARKET: STRUCTURE 19

FIGURE 2 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET: MARKET GROWTH FACTOR ANALYSIS (2022-2032) 35

FIGURE 3 SMART GRID TECHNOLOGY TRANSFORMING GRIDS THROUGH MULTIPLE BENEFITS 36

FIGURE 4 SMART GRID TECHNOLOGY BENEFITS 36

FIGURE 5 DRIVER IMPACT ANALYSIS (2023-2032) 42

FIGURE 6 OPPORTUNITY IMPACT FORECAST 47

FIGURE 7 SUPPLY CHAIN ANALYSIS: TRADITIONAL GRIDS 48

FIGURE 8 SUPPLY CHAIN ANALYSIS: SMART GRIDS 49

FIGURE 9 US SMART GRID TECHNOLOGY – PESTEL ANALYSIS 55

FIGURE 10 US SMART GRID TECHNOLOGY – SWOT ANALYSIS 56

FIGURE 11 GMI POLICIES AND SIX KEY PILLARS 59

FIGURE 1 Q3 2023 LEGISLATIVE AND REGULATORY ACTION ON GRID MODERNIZATION 65

FIGURE 2 SMART GRID MATURITY MODEL – LEVELS, DESCRIPTION, & RESULTS 70

FIGURE 3 SMART GRID TECHNOLOGY MATURITY CURVE - SMART-GRID TECHNOLOGIES DISPLAY HIGHLY VARIABLE LEVELS

OF MATURITY 70

FIGURE 4 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET; VOLT-VAR CONTROL TECHNOLOGIES SEGMENT

ATTRACTIVENESS, (USD MILLION) 81

FIGURE 5 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES, 2022 & 2032

(USD MILLION) 82

FIGURE 6 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES, 2022 (% SHARE) 83

FIGURE 7 US MARKET ANALYSIS: SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, 2019-2032(USD MILLION) 86

FIGURE 8 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY REGION, 2022 (% SHARE) 87

FIGURE 9 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY REGION, 2022 VS 2032 (USD MILLION) 87

FIGURE 10 NORTHEAST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2022 VS 2032 (USD MILLION) 88

FIGURE 11 SOUTHWEST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2022 VS 2032 (USD MILLION) 90

FIGURE 12 WEST US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2022 VS 2032 (USD MILLION) 91

FIGURE 13 SOUTHEAST US GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2022 VS 2032 (USD MILLION) 93

FIGURE 14 MIDWEST GRID US VOLT-VAR CONTROL TECHNOLOGIES MARKET, BY VOLT-VAR CONTROL TECHNOLOGIES,

2022 VS 2032 (USD MILLION) 94

FIGURE 15 US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET PLAYERS: COMPETITIVE ANALSIS, 2022 98

FIGURE 16 COMPETITOR DASHBOARD: US SMART GRID VOLT-VAR CONTROL TECHNOLOGIES MARKET 99

FIGURE 17 ABB LTD: FINANCIAL OVERVIEW SNAPSHOT 102

FIGURE 18 ABB LTD: SWOT ANALYSIS 104

FIGURE 19 SIEMENS: FINANCIAL OVERVIEW SNAPSHOT 106

FIGURE 20 SIEMENS: SWOT ANALYSIS 107

FIGURE 21 SCHNEIDER ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT 109

FIGURE 22 SCHNEIDER ELECTRIC: SWOT ANALYSIS 110

FIGURE 23 GENERAL ELECTRIC CO.: FINANCIAL OVERVIEW SNAPSHOT 112

FIGURE 24 GENERAL ELECTRIC CO.: SWOT ANALYSIS 113

FIGURE 25 EATON: FINANCIAL OVERVIEW SNAPSHOT 115

FIGURE 26 EATON: SWOT ANALYSIS 116

FIGURE 27 ETAP: SWOT ANALYSIS 118

FIGURE 28 HITACHI: FINANCIAL OVERVIEW SNAPSHOT 120

FIGURE 29 HITACHI: SWOT ANALYSIS 121

FIGURE 30 MITSUBISHI ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT 123

FIGURE 31 MITSUBISHI ELECTRIC: SWOT ANALYSIS 124

FIGURE 32 AMERICAN SUPERCONDUCTOR CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 126

FIGURE 33 AMERICAN SUPERCONDUCTOR CORPORATION: SWOT ANALYSIS 127

FIGURE 34 VARENTEC: SWOT ANALYSIS 129

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