Variable Shunt Reactor Market Size, Share, Trends, Outlook, Growth Opportunities, and Forecast 2023 - 2030

Global Variable Shunt Reactor Market is segmented By Phase (Single Phase Variable SR, Three Phase Variable SR), By Application (Industrial, Residential), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030 

Variable Shunt Reactor Market Report Overview

The Global Variable Shunt Reactor Market report analyzes the global market shares, size, recent trends, future market outlook, and competitive intelligence. Variable shunt reactors find application in power systems for voltage regulation and stabilizing power grid operations. The market is driven by increasing demand for efficient and reliable power transmission and distribution systems, particularly in the Asia Pacific region. Key players in the Variable Shunt Reactor Market include ABB Ltd., General Electric Company, Siemens AG, Toshiba Corporation, and other prominent players operating in the market.

A Variable Shunt Reactor is an alternative for stabilizing the voltages in high-voltage transmission lines as the regulation speed can be changed in steps. Variable shunt reactors are used to fulfill the fluctuating demand of reactive power compensation, due to the volatile nature of wind power, for the world's largest offshore wind farm.

Variable Shunt Reactor Market Scope and Summary

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Variable Shunt Reactor Market Dynamics and Trends

• Variable Shunt Reactor is used in various applications due to its optimum function with minimum investment and operating costs. Some of the forms of VSRs are:

•  VARs are used to reduce voltage spikes in the network when switching in and out of the fixed power-rated reactors.

•  They are used in substations with SVC equipment and rotating phase compensators to increase the dynamic capacity of the network during a network failure.

•  VARs are also used for wind park generation applications, daily load variations, high voltage AC cables, and flexible replacement of reactors.

Variable Shunt Reactor Market Segmentation

• The global Variable Shunt Reactor Market is segmented based By Type into Single Phase and Three Phase shunt reactors. Further, based on Application, the market is segmented into Industrial and Residential.

• Based on the type of Variable Shunt Reactor, the Three Phase Variable Shunt Reactor has the largest market share of over 65% of the global Variable Shunt reactor market. Three Phase Variable Shunt reactors are growing because of the increasing need for high-voltage transmission lines and cables.

• The market for Variable Shunt Reactor is overgrowing compared to the 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. The largest three-phase variable shunt reactor with 120-200Mvar at 420 kV has been installed in Italy.

Wood Plastic Composite Companies and Competitive Landscape

• The report profiles the following companies, which include 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.

The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.