Shunt Reactor Market 2021 Industry Status and Global Outlook till 2025

The Global Shunt Reactor Market Report Forecast 2021 - 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. 

The Shunt Reactor Market is expected to register a CAGR of 6.1% over the forecast period from 2020 to 2025. 

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Top Key Players in the Global Shunt Reactor Market:  ABB Ltd, Siemens AG, CG Power, and Industrial Solutions Limited, Mitsubishi Electric Corporation. 

- June 2020 - Siemens announced that Danish customer Semco Maritime has tapped it to provide the main electrical equipment for the electrical service platform (ESP) for the offshore wind project, Mayflower Wind LLC. The 1.6-GW project is situated in a central lease area near Massachusetts, United States. Siemen aims to supply components for Semco Maritime by 2022, and the contract includes the delivery of three 275 kV / 265 MVAr shunt reactors.

- April 2020 - ABB Ltd, through its Power Grids business, has signed a five-year framework contract with Colombia-based electric transmission company Interconexion Electrica SA ESP (ISA) for the supply of crucial power equipment for ISAs South American operations. The deal is estimated to be worth some USD 100 million (EUR 91.5m) and will cover the supply of shunt reactors, gas-insulated switchgear (GIS), air-insulated switchgear (AIS) equipment.

Key Market Trends

Variable is Expected to Hold Significant Growth

- Variable Shunt Reactors (VSR) are utilized in high voltage energy transmission systems to stabilize the voltage during load variations. A traditional shunt reactor is equipped fixed rating and is connected to the power line all the time or switched in and out depending on the load. The rating of a VSR could be changed in steps. The maximum regulation range depends on the capability of the on-load tap changer used in combination with the regulation winding used for the shunt reactor. The maximum regulation range has risen over the years, from 50%, now up to 80% at some voltage levels. The variability brings more benefits compared to a traditional fixed shunt reactor. The VSR can continuously compensate reactive power as the load varies, which secures the voltage stability.
- Various countries globally are increasingly focusing on the renewable energy sector for reducing its power consumption costs. For instance, in 2019, the UK's renewable industry's energy outpaced fossil fuel plants in 137 days during the year (the greenest year in the United Kingdom). Owing to such growing renewable energy investments in the region, the shunt reactor vendors are also focusing their offerings to the industry requirements. Siemens in the United Kingdom has built one of the most significant variable shunt reactors featuring a rating of 120-300 MVAr and a rated voltage of 220 kV, weighing 317 metric tons and measuring approximately 10x8.5x8 meters.
- The European Project of Common Interest (PCI) target is to optimize the efficiency of the Croatian and Slovenian electricity transmission grids through the application of advanced technologies. In December 2019, the ELES substation in Diva_a had been equipped with a variable shunt reactor, in collaboration with Siemens. As per the contract, Siemens supplied and installed a variable shunt reactor (VSR) 0f 150 Mar. In August 2019, HOPS and Siemens signed EUR 5 million contracts as part of the Sincro.Grid project. The agreement deals with deploying a variable shunt reactor at transformer station TS 400/220/110 kV Melina, as part of the implementation of the EU-backed smart grid project Sincro.Grid.

Regional Analysis:

The report offers an in-depth assessment of the growth and other aspects of the Shunt Reactor market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Asia-Pacific is Expected to Witness Fastest Growth

- The investments in upgrading Transmission and Distribution infrastructure in the Asia-Pacific region are increasing due to continued growth in electricity demand from domestic and business sources in the region. For instance, to meet the demand of China's cities and industrial zone electricity, the State Grid Corporation of China (SGCC) is building 12 electricity transmission lines linking the coal production and hydropower centers for a project valued USD 33.7 billion. According to Chinas state grid company, the line can transmit up to 12 gigawatts, which is enough to power 50 million Chinese households.
- According to the South Asia Regional Initiative for Energy Integration program, March 2020 report states that the South Asian power grid requires an investment of INR 45,000 by 2030 as cross-border electricity trade is projected to increase in the region. In April 2019, under the aid of the Development Bank of Kazakhstan JSC, a subsidiary of Baiterek NMH JSC, production of high-voltage transformers and shunt reactors, was launched in Shymkent. The products will be supplied to the markets of the CIS countries, Iran, Afghanistan, and Pakistan. According to representatives of Alageum Electric Company, the capacity of the enterprise is 120 transformers per year.
- India is one of the primary countries in the Asia-Pacific region, home to various manufacturing industries whose energy needs are increasing rapidly. According to the International Energy Outlook report by EIA 2019, Indias industrial energy consumption nearly triples by 2050, growing from 16 quadrillion British thermal units (Btu) in 2018 to 47 quadrillion Btu by 2050 at an average annual rate of 3.4%. Moreover, the country is observing significant investments in the expansion and up-gradation of its existing transmission and distribution network. For instance, according to the Ministry of Power, India, the electricity generated in India increased from 922.3 billion kilowatt-hours in 2016 to 1050.3 billion kilowatt-hours in 2019.

Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Shunt Reactor Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Shunt Reactor Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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