Press release
Shunt Reactor Market Size Projected To Reach $4.08 Billion By 2034 With A Cagr Of 6.5%
Shunt Reactor
What Is the Projected Growth of the Shunt Reactor Market?
The shunt reactor market size has grown significantly in recent years. It is projected to increase from $2.98 billion in 2024 to $3.18 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. This growth can be attributed to rising electricity demand, expanding renewable energy projects, urbanization, industrialization, aging power infrastructure, and the increasing need for voltage stability.
The shunt reactor market is projected to grow to $4.09 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. This growth is driven by increasing renewable energy integration, the expansion of electric vehicle infrastructure, heightened focus on energy storage systems, government investments in infrastructure, and the growing demand for decentralized power generat
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What Are the Different Shunt Reactor Market Segments?
The shunt reactormarket covered in this report is segmented -
1) By Type Of Product: Oil-Immersed Reactor, Air Core Dry Reactor
2) By Phase: Single Phase, Three Phase
3) By Rated Voltage: Less Than 200kV, 200kV-400kV, Above 400kV
4) By Application: Fixed Reactor, Variable Reactor
5) By End-User: Electric Utilities, Renewable Energy, Other End Users
Subsegments:
1) By Oil-Immersed Reactor: Single-Phase Oil-Immersed Reactor, Three-Phase Oil-Immersed Reactor, Fixed Oil-Immersed Reactor, Variable Oil-Immersed Reactor
2) By Air Core Dry Reactor: Fixed Air Core Dry Reactor, Variable Air Core Dry Reactor, Single-Phase Air Core Dry Reactor, Three-Phase Air Core Dry Reactor
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What Are the Primary Drivers Shaping the Shunt Reactor Market?
The increasing power generation capacity is expected to drive the growth of the shunt reactor market in the future. Power generation capacity refers to the maximum electricity output a power plant or generating unit can achieve under certain conditions. This growth is fueled by the rising global demand for electricity, the expansion of renewable energy sources, significant government investments in energy infrastructure, and technological progress in power generation. Shunt reactors are crucial in supporting this rise in capacity by enhancing voltage stability, reducing transmission losses, and optimizing grid performance, particularly in high-voltage networks, as they manage fluctuating power flow from renewable energy sources. For example, Australia's total electricity generation in 2022 was estimated at 273,265 gigawatt hours (GWh), a 2% increase from 2021. Hence, the growing power generation capacity is boosting the shunt reactor market.
Which Companies Are Leading in the Shunt Reactor Market?
Major companies operating in the shunt reactor market are Hitachi Energy Ltd., General Electric Company, Mitsubishi Electric Corporation, Siemens Energy AG, Toshiba Corporation, CHINT Group, Alstom Grid, Hyosung Heavy Industries, Meidensha Co.Ltd., Nissin Electric Co. Ltd., SGB-SMIT Group, CG Power and Industrial Solutions Limited, Voltamp Energy SAOG, Prolec Energy, Shreem Electric Limited, GBE SpA, Clariant Power System Ltd., Yash Capacitors Private Limited, Edit Elektronik, GETRA S.p.A., Hilkar, NR Electric Co. Ltd., Jyoti Transformers
What Trends Are Driving Growth in The Shunt Reactor Market?
Companies in the shunt reactor market are forming strategic partnerships to enhance grid stability and capacity. These collaborations aim to modernize power transmission and improve the integration of renewable energy. For instance, in September 2023, Hitachi Energy Ltd., a Switzerland-based technology company, partnered with TenneT Holding BV, a Netherlands-based transmission operator, to supply power transformers and shunt reactors. This collaboration will improve grid resilience, support renewable energy integration, and enhance electricity supply stability in Germany and the Netherlands.
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What Are the Top Revenue-Generating Geographies in the Shunt Reactor Market?
Asia-Pacific was the largest region in the shunt reactor market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the shunt reactor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Shunt Reactor Market?
2. What is the CAGR expected in the Shunt Reactor Market?
3. What Are the Key Innovations Transforming the Shunt Reactor Industry?
4. Which Region Is Leading the Shunt Reactor Market?
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