Global Shunt Reactor Market Projected to Grow at 6% CAGR, Reaching $3.94 Billion by 2029

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What Will the Shunt Reactor Industry Market Size Be by 2025?
The market size for shunt reactors has experienced robust growth in the past few years. It is projected to increase from a valuation of $2.98 billion in 2024, reaching $3.13 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.1%. Factors contributing to growth during the historical period include escalated electricity demand, the expansion of renewable energy projects, urbanization, and industrialization, aging power infrastructure, and a rising requirement for voltage stability.

What's the Long-Term Growth Forecast for the Shunt Reactor Market Size Through 2029?
Anticipated robust expansion in the shunt reactor market size over the upcoming years is expected to reach $3.94 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. The surge during the forecast period is likely to be driven by factors such as the rise in renewable energy integration, progressing electric vehicle infrastructure, an increased emphasis on energy storage systems, governmental infrastructure financing, and a surging need for non-centralized power production. Key trends for the forecast period incorporate a heightened focus on sustainability and low emissions, strides in transformer-less technology, escalating investment in energy storage, implementation of sophisticated monitoring and diagnostics, along with growth in grid automation and digital solutions.

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What Are the Key Growth Drivers Fueling the Shunt Reactor Market Expansion?
The growth of the shunt reactor market is projected to be driven by the increasing capacity for power generation. This capacity points to the highest electrical power that a power generation unit or plant can yield under certain conditions. The surge in this capacity is powered by burgeoning worldwide demand for electricity, rapid growth of renewable energy sources, substantial governmental investments in contemporary energy infrastructure, and advances in power generation technology. Shunt reactors play a crucial role in supporting this growing power generation capacity by enhancing voltage stability, reducing transmission losses, and fine-tuning grid performance, particularly in high-voltage networks. They are instrumental in managing the variable power flow from expanding renewable energy sources, boosting energy efficiency, and ensuring dependable long-distance power transmission. For example, the Department of Climate Change, Energy, Environment and Water, a governmental department in Australia, reported in June 2023 that Australia's total electricity generation in 2022 was approximated at 273,265 gigawatt hours (GWh), marking a 2% increase from 2021. Consequently, the escalating power generation capacity is fostering the expansion of the shunt reactor market.

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What Are the Key Trends Driving Shunt Reactor Market Growth?
Major firms in the shunt reactor market are harnessing strategic alliances to upgrade and boost grid steadiness and capability. These alliances entail cooperation among businesses to boost product progress, widen market scope, and increase the incorporation of technology in power transmission and grid steadiness solutions. For instance, in September 2023, Hitachi Energy Ltd., a tech firm based in Switzerland, collaborated with TenneT Holding BV, a transmission system operator firm from Netherlands, to emphasize on delivering high-quality power transformers and shunt reactors that can modernize and boost the steadiness and capability of the transmission grid. The objective of this alliance is to aid the assimilation of renewable energy sources, enhance grid toughness, and assure a sustainable power supply for Germany and the Netherlands.

How Is the Shunt Reactor Market Segmented?
The shunt reactor market 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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Which Companies Are Leading the Charge in Shunt Reactor Market Innovation?
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

Which Regions Are Leading the Global Shunt Reactor Market in Revenue?
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.

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