According to IMARC Group's latest research report, titled "Shunt Reactor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the shunt reactor market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global shunt reactor market size reached US$ 2.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2027, exhibiting a growth rate (CAGR) of 3.7% during 2022-2027.
Shunt Reactor Market Outlook:
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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Shunt Reactor Market Growth:
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.
Key Market Segmentation:
Competitive Landscape:
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.
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
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