Shunt Reactor Market | Top Global Companies Strategy, Growth Drivers, Revenue Generation | Top 10 Key Players & Forecast to 2030
Research Reports
Mar 09, 2022
The Shunt Reactor Market size will touch USD 3.51 billion at a favorable 4.66% CAGR by 2027, states the latest Market Research Future (MRFR) report.
COVID-19 Analysis
The COVID-19 pandemic has a drastic effect on the worldwide economy. The power industry faced a lot of challenges during the crisis. In this period, the demand from every vertical like industrial, commercial, and residential sectors have been affected. Besides, the reduction in the energy demand is another challenge for the market. The fall in demand is owing to the lockdowns in several regions. Irrespective of such dislocations, economic activity has started to pick up gradually with the ease in lockdown measures and improvement in mobility. This will boost the demand for electricity from the commercial and industrial sectors that will in turn boost the shunt reactor market share in the years ahead
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Key Players
Eminent industry players profiled in the global shunt reactor market report include
Zaporozhtransformator (Ukraine), ABB Limited (Switzerland), Alstom (France), Siemens AG (Germany), Crompton Greaves (India), Tebian Electric Apparatus Stock Company Ltd. (China), Hyundai Heavy Industries (Korea), Fuji Electric (Japan), Mitsubishi Electric Corporation (Japan), and Toshiba (Japan), and others.
The global shunt reactor market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more.
Industry Updates
NTDC (National Transmission and Despatch Company) has recently announced the installation of shunt reactors on the 152km long 500 kilovolt Dadu-Jamshoro transmission line for improving power system stability. This newly installed shunt reactor will help in controlling the power system voltages more effectively and will also improve the power system stability overall on the NTDC network.
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Market Segmentation
The global shunt reactor market is bifurcated based on type, application, and end use.
By type, the oil-immersed reactors will lead the market over the forecast period for the increase in the T&D infrastructure.
By application, the shunt reactor market is classified into fixed and variable.
By end use, the electric utilities will dominate the market over the forecast period. The demand for electricity is rising as various developing nations are engaged in expanding their power generation capacity to offer electricity.
Regional Analysis
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APAC to Spearhead Shunt Reactor Market
The APAC region will spearhead the shunt reactor market over the forecast period. Growing investments, increasing demand for shunt reactors, increasing innovation, the high dependence on electrical networks in the industry, increasing adoption in China, growing investments in utilities, improved grid reliability, rising investments in renewable resources, and the addition of high voltage transmission networks are adding to the global shunt reactor market growth in the region. Besides, the government initiatives, rising innovations, government schemes for strengthening the grid infrastructure, Indian government extensively investing to expand the national grid to offer electricity supply at a larger scale, and the addition of high voltage transmission network are also adding market growth.
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