Distribution Voltage Regulator Market Predicted to Rise at a Lucrative CAGR throughout 2016 to 2023
A distribution voltage regulator is a step-voltage regulator which is generally used to control the voltage either on the main feeder coming out of the substation or on the laterals of the main feeder. The distribution voltage regulators receive an incoming voltage, which might vary depending on load conditions, and provides a constant output voltage. Distribution voltage regulators are generally of three types- ferroresonant, tap-switching and electronic. Ferroresonant regulators are the earliest form of regulators.
They operates in the saturation region of the transformer design for regulating voltage. Ferroresonant regulators are generally used under single phase conditions, primarily for their cost effectiveness and overall high level of protection. Tap-switching regulators automatically switch taps on the isolation transformer for regulating line voltage. Tap-switching regulators have fast correction time and high efficiency rating. Additionally, they can accommodate higher KVA rated systems into small enclosures. Electronic regulators are often conjointly used with a power transformer as a shield for all types of power problems except power outages. It offers the most stringent regulation among the three types of regulators. In addition, delivers more efficient fault clearing current to breakers further downstream. Electronic regulators are best utilized in industrial setups having motor loads and high inrush devices.
The increasing demand for power has been the main factor which attributed to the growth of the distribution voltage regulator’s market. Governments across the globe, especially in emerging markets such as India and China among others, are in constant pursuit of upgrading their domestic power networks and developing smart grid infrastructure to meet the increasing demand for electricity. In order to install and upgrade new and existing transmission and distribution (T&D) networks, governments of both developed and developing countries have planned to invest huge amount during the forecast period. Such investments are boosting the global distribution voltage regulator market since voltage fluctuations are required to be stabilized for providing uninterrupted electricity supply. The growth in utility and industrial infrastructure investment has also positively impacted the market. Utility companies are utilizing distribution voltage regulators to increase power demand during off-peak periods apart from meeting the demand for power requirement during peak periods.
However, the requirement of high initial investment for installing distribution voltage regulator is a major restraining factor of this market. Increasing prices of raw materials are also leading to the increase in the price of these equipments. Additionally, lack of uniform standards of distribution voltage regulators is negatively impacting this market. Advancement in regulator technology and also production process can help to overcome the challenges mentioned above. Deploying greater technological advancements can be considered as opportunity for distribution voltage regulator market. By deploying technological advancements, efficiency of distribution voltage regulators in terms of T&D loss reduction can be increased.
The global distribution voltage regulator market can be segmented, by type, into ferroresonant, tap-switching and electronic. The distribution voltage regulator market can be further segmented, based on end user, into industrial, commercial and residential. Furthermore, the distribution voltage regulator market can be geographically segmented into four broad regions such as North America, Europe, Asia-Pacific (APAC) and the rest of the world.
Some of the key companies leading the distribution voltage regulator market are ABB Ltd. (Switzerland), Belotti Variatori SRL (Italy), Daihen Corporation (Japan), Eaton Corporation Plc. (Ireland), General Electric Co. (US), Howard Industries Inc. (US), J.Schneider Elektrotechnik Gmbh (Germany), Siemens AG (Germany), Toshiba Corporation (Japan) and Utility Systems Technologies (South Africa) among others.