What is the global market size of Shunt Reactor Market?

Shunt Reactor Market size was valued at USD 2.43 Billion in 2021 and is poised to grow from USD 2.59 Billion in 2022 to USD 4.25 Billion by 2030, at a CAGR of 6.4% during the forecast period (2023-2030).

What is the key driver of Global Shunt Reactor Market?

The rapid expansion of renewable energy sources, such as solar and wind power, requires efficient integration into the grid. Shunt reactors enable the compensation of reactive power and voltage stabilization, facilitating the smooth integration of renewable energy sources and supporting the growth of clean energy generation.

Which region accounted for the largest share in Shunt Reactor Market?

North America is the dominant region in the global shunt reactor market. The region's dominance can be attributed to the extensive presence of electric utilities, significant investment in grid infrastructure, and the need for grid stability and voltage regulation. The aging power infrastructure in North America necessitates the deployment of shunt reactors for efficient power transmission and distribution. Additionally, the focus on renewable energy integration and the increasing demand for electricity drive the demand for shunt reactors in the region.

Shunt Reactor Companies

Shunt Reactor Market Competitive Landscape

The global shunt reactor market is very competitive, with many players competing for market space. Players in the shunt reactor market execute several strategies like product development, partnerships, collaborations, and acquisitions to capture higher market share. The overall market is highly competitive, rapidly developing technologically, and intent on efficient and effective solutions. Key players in the global shunt reactor market are known to invest heavily in research and development activities for the introduction of new products and enrichment of product lines. Such companies try to serve changing customer needs and further help the power sector to improve grid stability, voltage regulation, and improving power quality. Moreover, the players market their business more in terms of geographical footprint by entering new markets and working on regional needs. Strategic alliances with utilities, grid operators, and other stakeholders help in getting better market positioning and enlarge the customer base. Increasingly challenging competitive environment characterizes the global shunt reactor market, primarily based on technological developments, product differentiation, pricing strategies, and customer service. Parallelly, these market players are striving continuously to offer better performance with cost-effective solutions than their competitors.

Shunt Reactor Market Top Player’s Company Profile

ABB (Hitachi Energy)
Siemens Energy AG
General Electric Company (GE)
Mitsubishi Electric Corporation
Toshiba Corporation
Hyosung Heavy Industries
Fuji Electric Co., Ltd.
Nissin Electric Co., Ltd.
Bharat Heavy Electricals Limited (BHEL)
TBEA Co., Ltd.
TDK Corporation
JiangSu HuaPeng Transformer Co., Ltd.
Meidensha Co., Ltd.
Voltamp Transformers Ltd.
Shreem Electric Limited
GETRA S.p.A.
Prolec GE
Hyundai Electric & Energy Systems Co., Ltd.

Shunt Reactor Market

FAQs

Global Shunt Reactor Market size was valued at USD 3.2 billion in 2022 and is poised to grow from USD 3.3 billion in 2023 to USD 5.3 billion by 2031, growing at a CAGR of 5.8% during the forecast period (2024-2031).

Increasing Focus on Grid Stability and Power Quality: With the growing demand for electricity and the integration of renewable energy sources, maintaining grid stability has become crucial. Shunt reactors play a vital role in voltage regulation, reducing voltage fluctuations, and improving power factor correction, thus ensuring grid stability and enhancing power quality.

North American emerged as the leading market in shunt reactor market. Owing to the increasing demand for reliable and efficient power transmission and distribution infrastructure propelling the adoption of shunt reactors across the region. With the growing emphasis on grid stability and voltage regulation, utilities and grid operators are investing in shunt reactors to enhance power system performance in industrial verticals. The US market is projected to hold the most substantial share of 86.27% in the North American market. As of 2023, the US stands as a dominant player in the shunt reactors market and is projected with a CAGR of 5.8% from 2024 to 2031. Owing to the increasing demand for reliable and efficient power transmission and distribution infrastructure propelling the adoption of shunt reactors across the region.

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Shunt Reactor Market Size, Share, Growth Analysis, By Type (Oil-Immersed, Air-Core), By Voltage (Upto 200 Kv, 200-400 Kv), By Application (Variable Reactors, Fixed Reactors), By End-User (Electrical Utilities, Industrial Verticals), By Region - Industry Forecast 2025-2032

Shunt Reactor Market Competitive Landscape

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Shunt Reactor Market Size, Share, Growth Analysis, By Type (Oil-Immersed, Air-Core), By Voltage (Upto 200 Kv, 200-400 Kv), By Application (Variable Reactors, Fixed Reactors), By End-User (Electrical Utilities, Industrial Verticals), By Region - Industry Forecast 2025-2032

Shunt Reactor Market Competitive Landscape

Shunt Reactor Market Report Snapshots

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What is the global market size of Shunt Reactor Market?

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Which region accounted for the largest share in Shunt Reactor Market?

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