Shunt Reactor Market Size, Competitive Landscape and Market Forecast - 2029
Global Shunt Reactor Market is segmented By Type (Oil-Immersed and Air-Core), By Application (Industrial, Residential), By Rating (Fixed Shunt Reactor, Variable Shunt Reactor), By Phase (Single Phase, Three Phase), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Shunt Reactor Market Share, Size, Demand Insights
150 Pages report analyses the global shunt reactor market shares, size, recent trends, future market outlook, and competitive intelligence. Shunt reactor usage in maintaining high-voltage transmission lines and cable systems is on the rise. Demand from industrial and residential in ‘The Asia Pacific’ is booming. The competitive rivalry intensifies with ABB Ltd, Siemens, Toshiba, Fuji Electric Co., and others active in the market.
Shunt Reactor Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
4.65% |
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Segments Covered |
By Type, By Application, By Rating, By Phase, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Shunt Reactor Market Growth Factors
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A shunt Reactor is a compact, efficient absorber of reactive power which is commonly used for maintaining high-voltage transmission lines and cable systems. The global shunt reactor market is driven by increasing power generation and the rising need for keeping top-voltage power transmission lines.
Shunt Reactor Market Segmentation and Shares Analysis
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The global Shunt Reactor Market is segmented based On Phases into a Single Phase and Three Phases.
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By Type, the market is segmented into Oil-immersed and Air-Core. Based on Rating, the market is segmented into Fixed Shunt Reactors and Variable Shunt Reactors.
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Further, based on Application, the market is segmented into Industrial and Residential.
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Based on the type of Shunt Reactor, the Oil-immersed shunt reactors have the largest market share of over 60% of the global shunt reactor market
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Oil Immersed Shunt reactors give more stabilization of the grid and maintain the insulation on high-voltage transmission lines and cables.
Shunt Reactor Market Dynamics and Trends
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Due to increasing transmission and distribution systems, especially in developing countries, the need for shunt reactors is rising, hence driving the growth of the market.
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The market for a Variable Shunt Reactor is multiplying compared to a fixed shunt reactor as it is more capable of controlling the voltage during high-voltage power transmission lines. They are more advanced in stabilizing the fluctuations of voltage over large transmission networks, hence the need for variable shunt reactors is growing.
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As conventional power plants are shut down, and TSOs are forced to switch from OHL to HV cables partially, the need for additional reactive power compensation equipment is growing.
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So, Siemens and Amprion have jointly introduced an innovative large variable shunt reactor (VSR) with an 80% regulation range that is economically efficient.
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Geographically, the global shunt market is segmented into North America, South America, Europe, Asia Pacific, and RoW. Asia-Pacific is dominating the market due to increasing demand for electricity supply, growing development, and investments in the transmission network.
The scope of the report
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The report profiles the following companies, which includes ABB Ltd, Siemens, Toshiba, Fuji Electric Co., GE Electric, Nissin Electric Co. Ltd, Zaporozhtransformator PJSC, Nissin Electric Co. Ltd, Hyosung Corporation, and Hyundai Heavy Industries.
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The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Frequently Asked Questions
What is the Shunt Reactor Market growth?
The market is growing at a CAGR of 4.65%.
What is the Shunt Reactor Market size in 2021?
The Market size was valued at USD YY million in 2021.
Who are the key players in Shunt Reactor Market?
ABB Ltd, Siemens, Toshiba, Fuji Electric Co., GE Electric, Nissin Electric Co. Ltd, Zaporozhtransformator PJSC, Nissin Electric Co. Ltd, Hyosung Corporation, and Hyundai Heavy Industries.