Voltage Regulator Market to Reach $4.7 billion, Globally, by 2033 at 5.3% CAGR: Allied Market Research

PORTLAND, Ore., April 30, 2024 /PRNewswire/ -- Voltage regulators are crucial in maintaining the performance of electrical systems by precisely controlling voltage levels. The voltage regulators market is expected to expand, promoting sustainable and decentralized energy infrastructure. Increase in investment towards the development of renewable energy resources and construction of smart cities across the developed and developing countries have a positive impact on the voltage regulator market.

Allied Market Research published a report, titled, "Voltage Regulator Market by Type (Linear and Switching), Technology (Electro-Mechanical Voltage Regulator, Electronic Tap-Switching Voltage Regulator, and Ferro-Resonant Voltage Regulator), Phase (Single Phase and Three Phase), Voltage (Less than 250 kVA, 250 KVA to 500 kVA, and More than 500 kVA), and Application (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "voltage regulator market" was valued at $2.8 billion in 2023, and is estimated to reach $4.7 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

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Prime determinants of voltage regulator market growth

The voltage regulator market is experiencing growth due to several factors such as increase in demand for power quality, rise in demand for electronics and electrical appliances, and increase in number of infrastructure development projects. However, the volatility of raw material prices and challenges in voltage regulation for high-voltage systems hinder the market growth. Moreover, the expansion of smart grid infrastructure and the growing industrialization of emerging economies provide opportunities for expanding the voltage regulator market.

Report coverage & details:

The linear segment is expected to grow faster during the forecast period.

By type, the linear segment held the highest market share in 2023, accounting for more than three-fifths of voltage regulator market revenue. Linear voltage regulators dominate the market due to their simplicity, low noise output, and excellent response to voltage fluctuations, making them ideal for applications requiring stable and clean power supply. Their widespread use in sensitive electronic devices underscores their reliability and effectiveness in precision voltage control. However, the switching segment is projected to attain the highest CAGR of 5.5% from 2024 to 2033. Switching voltage regulators are highly demanded in the market due to their efficiency in converting energy at high rates, minimizing heat generation, and providing stable output despite varying input voltages. Their compact size and adaptability to a range of power applications make them ideal for both portable devices and industrial machinery.

The electro-tap switching voltage segment is expected to grow faster during the forecast period.

By technology, the electro-tap switching voltage segment held the highest market share in 2023, accounting for more than two-fifths of voltage regulator market revenue. Electro-tap switching voltage regulators dominate the market as they offer precise voltage control with high efficiency and rapid response to load changes. Their robustness in handling varied power demands makes them ideal for applications requiring stable power, particularly in high-performance environments like data centers and industrial automation. However, the electro-mechanical voltage regulator segment is projected to attain the highest CAGR of 5.9% from 2024 to 2033. Electro-mechanical voltage regulators are in high demand in the market due to their robustness, reliability, and cost-effectiveness. They provide precise voltage control, essential for ensuring the stability and safety of electrical systems, making them particularly suitable for heavy-duty applications across various industrial and automotive sectors.

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The three-phase segment is expected to lead the trail by 2032

By phase, the three-phase segment held the highest market share in 2023, accounting for more than two-thirds of the voltage regulator market revenue, and is estimated to dominate during the forecast period. Three-phase voltage regulators dominate the market as they efficiently manage voltage stability across extensive and complex electrical systems typical in industrial, commercial, and utility applications. Their ability to evenly distribute power and handle higher loads ensures optimal performance and reliability in environments with significant electrical demand. However, the single phase segment is projected to attain the highest CAGR of 5.7% from 2023 to 2032. Single-phase voltage regulators have high demand in the market primarily as they are essential for residential and light commercial applications, where single-phase power is commonly used. Their affordability, simplicity, and effectiveness in stabilizing voltage for everyday electronic devices and household appliances further drive their widespread adoption.

The 250 kVA to 500 kVA segment is expected to lead the trail by 2032

By voltage, the 250 kVA to 500 kVA segment held the highest market share in 2022, accounting for nearly half of the voltage regulator market revenue, and is estimated to dominate during the forecast period. However, the less than 250kVA segment is projected to attain the highest CAGR of 5.8% from 2024 to 2033. The rapid growth of the less than 250 kVA voltage regulator market is primarily fueled due to its wide range of applications, including residential, commercial, and small industrial setups. These applications require voltage regulators for stable power supply for electronic equipment, appliances, and machinery. The demand for voltage regulators in this segment is widespread and consistent. The proliferation of small-scale renewable energy systems, such as solar photovoltaic installations and wind turbines, also contributes to the development of the less than 250 KVA segment.

The industrial segment dominates the market by 2033

By application, the industrial segment held the highest market share in 2022, accounting for more than two-fifths of the voltage regulator market revenue, and is estimated to dominate during the forecast period. However, the residential segment is projected to attain the highest CAGR of 5.7% from 2024 to 2033. The residential voltage regulator market is experiencing rapid growth due to increasing adoption of rooftop solar photovoltaic (PV) systems among homeowners. This has created a need for energy storage solutions to maximize the self-consumption of solar energy and provide backup power during grid outages.

The Asia-Pacific segment dominates the market by 2033

Region-wise, Asia-Pacific held the highest market share in 2022, accounting for nearly half of the voltage regulator market revenue, and is estimated to dominate during the forecast period. However, the Asia-Pacific segment is projected to attain the highest CAGR of 5.6% from 2024 to 2033. The combination of growing energy demand, renewable energy deployment, supportive government policies, technological advancements, and a thriving supply chain is fueling the high demand and rapid growth of the voltage regulator market in the Asia-Pacific region.

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Leading Market Players: -

• Siemens AG
• General Electric
• Eaton Corporation
• ABB Ltd.
• Legrand
• Hindustan Power Control System
• ROHM Co. Ltd.
• STMicroelectronics
• Infineon Technologies AG
• Toshiba Energy Systems & Solutions Corporation.

The report provides a detailed analysis of these key players in the voltage regulator market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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