Shunt Reactor Market worth $4.46 billion by 2030, growing at a CAGR of 4.81% - Exclusive Report by 360iResearch

The "Shunt Reactor Market by Product (Air-Core Shunt Reactors, Oil-Immersed Shunt Reactors), Phase (Single Phase, Three Phase), Voltage, Type, End-User, Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Shunt Reactor Market to grow from USD 3.21 billion in 2023 to USD 4.46 billion by 2030, at a CAGR of 4.81%.

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A shunt reactor is an electrical device engineered to absorb reactive power in electrical power systems, stabilizing the voltage during load variations. It functions by being connected in parallel (or shunt) to the power system to compensate for the capacitive current generated by the transmission lines. This capacitive current leads to undesirable voltage increases, especially during periods of low demand. Shunt reactors help maintain voltage levels within desired limits by consuming excess reactive power, enhancing the stability and efficiency of power distribution networks. They are commonly used in high-voltage transmission systems to improve power quality and system reliability. Global efforts to upgrade existing power infrastructure and integrate renewable energy sources, coupled with the escalating demand for electricity worldwide, fueled by industrial growth and urbanization, directly drive the need for efficient power transmission solutions. However, the substantial upfront cost of developing and deploying shunt reactors is a significant barrier to market entry. Nevertheless, the transition toward sustainable energy sources, the digitalization of power networks, significant investments in smart grids, and the development of more efficient and adaptable shunt reactor technologies present substantial opportunities for the shunt reactor market.

The shunt reactors market in the Americas is experiencing growth due to the focus on upgrading aging power infrastructure and integrating renewable energy sources. In the U.S., customer purchasing behavior indicates a preference for technologically advanced, energy-efficient shunt reactors to support the reliability of the renewable-rich grid. Canada's investment in hydroelectric and wind power projects has spurred demand for shunt reactors to mitigate the impact of power generation variability. Initiatives, such as the North American Electric Reliability Corporation's (NERC) standards, emphasize the importance of grid stability and efficiency, underscoring the region's need for advanced shunt reactor solutions. The EMEA region presents a diverse market with consumer needs and purchasing behaviors. EU countries are transitioning toward green energy, with substantial investments in renewable energy projects. This transition necessitates the deployment of shunt reactors to manage the increased penetration of intermittent renewable sources into the grid and maintain power quality. The Middle East investments in grid modernization and renewable energy, driving demand for shunt reactors to ensure grid stability and efficiency. Africa, with its growing economy and focus on electrification, is witnessing an emerging market for shunt reactors, primarily to support the expansion and reliability of its power distribution network. The Asia-Pacific region is experiencing rapid industrialization and urbanization, leading to increased demand for electricity and, consequently, electrical infrastructure expansion. Increasing electrical infrastructure investment and the demand for shunt reactors in the region is driven by the need to improve power transmission efficiency and stability. Recent patents in the Asia-Pacific region demonstrate innovation in compact, high-efficiency shunt reactors designed for the country's sprawling, high-voltage network, necessitating advanced shunt reactors to manage the variability and increase grid stability.

Market Segmentation & Coverage:

This research report categorizes the Shunt Reactor Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Air-Core Shunt Reactors and Oil-Immersed Shunt Reactors. The Air-Core Shunt Reactors commanded largest market share of 56.99% in 2023, followed by Oil-Immersed Shunt Reactors.

Based on Phase, market is studied across Single Phase and Three Phase. The Single Phase commanded largest market share of 56.96% in 2023, followed by Three Phase.

Based on Voltage, market is studied across 200 to 400 kV, Above 400 kV, and Up to 200 kV. The 200 to 400 kV commanded largest market share of 44.04% in 2023, followed by Up to 200 kV.

Based on Type, market is studied across Fixed Shunt Reactor and Variable Shunt Reactor. The Fixed Shunt Reactor commanded largest market share of 61.31% in 2023, followed by Variable Shunt Reactor.

Based on End-User, market is studied across Electric Utilities and Industrial Verticals. The Electric Utilities commanded largest market share of 52.24% in 2023, followed by Industrial Verticals.

Based on Application, market is studied across Cable Systems, Industrial Plants, Power Transmission Systems, Renewable Energy Systems, and Substations. The Power Transmission Systems commanded largest market share of 51.91% in 2023, followed by Substations.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.82% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Shunt Reactor Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Shunt Reactor Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Shunt Reactor Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Beijing Power Equipment Group Co., Ltd., CG Power and Industrial Solutions Limited, Elgin Power Solutions, ENTES Elektronik Cihazlar İmalat ve Ticaret A.Ş., Faramax International GmbH, Fuji Electric Co., Ltd., GBE SpA, General Electric Company, Getra Power S.P.A., Hilkar, Hitachi Ltd., Hyosung Coporation, Iljin Group, Jiangshan Scotech Electrical Co.,Ltd, JSC SVEL Group, Kalentel Energy Telecom, Meidensha Corporation, Mitsubishi Electric Corporation, Ningbo Zhongce E.T Electronics Co., Ltd., Nissin Electric Co., Ltd., Phoenix Electric Corp., S.E.A. Società Elettromeccanica Arzignanese S.p.A., SGB-SMIT GmbH, Shrihans Electricals Pvt. Ltd., Siemens AG, Tamura Electronics (M) Sdn. Bhd., Toshiba Corporation, Transformers Manufacturing Company Pty Ltd., WEG S.A., and Zaporozhtransformator PrJSC.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Shunt Reactor Market, by Product
7. Shunt Reactor Market, by Phase
8. Shunt Reactor Market, by Voltage
9. Shunt Reactor Market, by Type
10. Shunt Reactor Market, by End-User
11. Shunt Reactor Market, by Application
12. Americas Shunt Reactor Market
13. Asia-Pacific Shunt Reactor Market
14. Europe, Middle East & Africa Shunt Reactor Market
15. Competitive Landscape
16. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Shunt Reactor Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Shunt Reactor Market?
3. What is the competitive strategic window for opportunities in the Shunt Reactor Market?
4. What are the technology trends and regulatory frameworks in the Shunt Reactor Market?
5. What is the market share of the leading vendors in the Shunt Reactor Market?
6. What modes and strategic moves are considered suitable for entering the Shunt Reactor Market?

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