Shunt Reactor Market Trends, Share, Growth, and Forecast 2023-2028
The “Shunt Reactor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, report by IMARC Group offers a detailed analysis of the industry, including shunt reactor market, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Shunt Reactor Market?
The global shunt reactor market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.
What is Shunt Reactor?
A shunt reactor refers to a device that is used to absorb the reactive power in a power supply system. It is a compact instrument that neutralizes power in cable systems and high-voltage transmission lines by transferring energy directly to the power line. A shunt reactor stabilizes the system voltage and consumes excess energy produced by overhead lines under low load conditions. In addition to this, it can also be connected directly to the power line or the tertiary winding of three transformers. A shunt reactor offer several benefits, including minimal fire hazard probabilities and low maintenance as well as operational costs.
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What are the Growth Prospects and Trends in the Shunt Reactor Market?
The inflating need for energy is among the primary factors driving the shunt reactor market. Furthermore, the rising utilization of this device for reducing the loss in power transmissions and in modern transmission and distribution (T&D) networks is also augmenting the market growth. Apart from this, the increasing investments by leading manufacturers in smart grid technologies are catalyzing the global market. Moreover, the escalating demand for shunt reactors is contributing to reduced carbon footprint and voltage jumps, which is acting as another significant growth-inducing factor. Besides this, the development of efficient power systems to ensure an uninterrupted supply of energy and extensive R&D activities by key market players are further stimulating the market growth. Additionally, the launch of several policies by government bodies across countries to promote the usage of high voltage transmission systems is expected to bolster the shunt reactor market in the coming years.
Who are the key Players Operating in the Industry?
- ABB Ltd.
- General Electric (GE) Company
- Siemens AG
- Nissin Electric Co. Ltd.
- PrJSC Zaporozhtransformator
- CG Power and Industrial Solutions Limited
- Alstom SA
- Hyundai Heavy Industries Co. Ltd.
- Mitsubishi Electric Corporation
- Hitachi Ltd.
- Toshiba Corporation
- Hilkar Electric Limited
- Fuji Electric Co. Ltd.
- TBEA Co. Ltd.
- Trench Group.
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Oil-Immersed
- Air-Core
Breakup by End-User:
- Electric Utilities
- Industrial Verticals
Breakup by Application:
- Variable Reactor
- Fixed Reactor
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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