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Global Shunt Reactor Market to reach USD 3.99 billion by the end of 2029.

Global Shunt Reactor Market Size study & Forecast, by Product (Fixed, Variable) by Type (Oil Immersed, Air Core), by End-user (Electric Utility, Renewable Energy) and Regional Analysis, 2022-2029

Product Code: EESC-28702423
Publish Date: 2-05-2023
Page: 200

Global Shunt Reactor Market is valued at approximately USD 2.43 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.4% over the forecast period 2022-2029. Shunt reactors boost the effectiveness of electrical and energy systems by absorbing and offsetting reactive power in wires and lengthy high-voltage transmission lines. The tertiary winding of a three-winding transformer or the power line is used to link them. These reactors are generally used for reactive power compensation. The market growth is primarily driven by the factors such as surging demand for electricity, increasing upgradation of aging technology in developed nations, coupled with high voltage transmission lines addition.

The rapid augmentation and modernization of transmission and distribution networks is acting a key driving factor for the market growth around the world. Shunt reactor demand is anticipated to increase as a result of the increasing number of transmission line expansion and modernization projects being undertaken globally. These reactors make up for the reactive power generated when a sudden drop in load occurs because of system failures. Most nations, including the United States, India, China, and Germany, are working to update and modernize their deteriorating transmission and distribution network. For instance, the U.S. Department of Energy (DOE) announced the “Building a Better Grid” initiative in January 2022 to spur the nationwide development of novel high-capacity transmission lines. The DOE identifies crucial national transmission requirements as part of this initiative, and it offers funds for the construction of high-voltage transmission facilities. Thus, these aforementioned factors are propelling market growth at a substantial rate. Moreover, the flourishing growth of the renewable energy sector, as well as the increasing adopting of smart grid technology are presenting various lucrative opportunities over the forecasting years. However, the development of alternate technologies and low-quality products are challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Shunt Reactor Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the rise in electricity production and growing investment in renewable energy, along with the presence of largest producer and consumer of electricity. Whereas, Europe is expected to grow with a significant CAGR during the forecast period, owing to factors such as rising focus on power generation, as well as increase in the grid infrastructure development in the market space.

Major market players included in this report are:
GE (U.S.)
Siemens (Germany)
Toshiba Corporation (Japan)
CG Power and Industrial Solutions Limited (India)
Hitachi Energy (Switzerland)
Hyosung Corporation (Korea)
ABB (Switzerland)
Nissin Electric Co Ltd (Japan)
Fuji Electric Co., Ltd. (Japan)
GBE SpA (Italy)

Recent Developments in the Market:
Ø In January 2022, Siemens Energy-owned Trench Group introduced a 500kV Dry-Type Reactor. The company stated that it is the first 500 kV dry-type reactor globally and also claims to have the technology required for manufacturing high-voltage dry-type reactors with a voltage of up to 550 kV.
Ø In July 2021, Grid Solutions, a division of GE Renewable Energy, announced a deal to deliver 13 units of 765 kV transformers and 32 units of 765 kV reactors to Power Grid Corporation of India Limited (PGCIL), the country’s largest state-owned transmission company. Rajasthan receives these transformers and reactors in order to evacuate 8.1 gigawatts (GW) of electricity from the state’s solar energy zones.

Global Shunt Reactor Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Type, End-user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
By Type:
Oil Immersed
Air Core
By End-user:
Electric Utility
Renewable Energy
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Shunt Reactor Market, by Region, 2019-2029 (USD Billion)
1.2.2. Shunt Reactor Market, by Product, 2019-2029 (USD Billion)
1.2.3. Shunt Reactor Market, by Type, 2019-2029 (USD Billion)
1.2.4. Shunt Reactor Market, by End-user, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Shunt Reactor Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Shunt Reactor Market Dynamics
3.1. Shunt Reactor Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rapid augmentation and modernization of transmission and distribution networks Surging demand for electricity
3.1.2. Market Challenges Development of alternate technologies Low-quality products
3.1.3. Market Opportunities Flourishing growth of the renewable energy sector Increasing adopting of smart grid technology
Chapter 4. Global Shunt Reactor Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Shunt Reactor Market, by Product
6.1. Market Snapshot
6.2. Global Shunt Reactor Market by Product, Performance – Potential Analysis
6.3. Global Shunt Reactor Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. Shunt Reactor Market, Sub Segment Analysis
6.4.1. Fixed
6.4.2. Variable
Chapter 7. Global Shunt Reactor Market, by Type
7.1. Market Snapshot
7.2. Global Shunt Reactor Market by Type, Performance – Potential Analysis
7.3. Global Shunt Reactor Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
7.4. Shunt Reactor Market, Sub Segment Analysis
7.4.1. Oil Immersed
7.4.2. Air Core
Chapter 8. Global Shunt Reactor Market, by End-user
8.1. Market Snapshot
8.2. Global Shunt Reactor Market by End-user, Performance – Potential Analysis
8.3. Global Shunt Reactor Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
8.4. Shunt Reactor Market, Sub Segment Analysis
8.4.1. Electric Utility
8.4.2. Renewable Energy
Chapter 9. Global Shunt Reactor Market, Regional Analysis
9.1. Shunt Reactor Market, Regional Market Snapshot
9.2. North America Shunt Reactor Market
9.2.1. U.S. Shunt Reactor Market Product breakdown estimates & forecasts, 2019-2029 Type breakdown estimates & forecasts, 2019-2029 End-user breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Shunt Reactor Market
9.3. Europe Shunt Reactor Market Snapshot
9.3.1. U.K. Shunt Reactor Market
9.3.2. Germany Shunt Reactor Market
9.3.3. France Shunt Reactor Market
9.3.4. Spain Shunt Reactor Market
9.3.5. Italy Shunt Reactor Market
9.3.6. Rest of Europe Shunt Reactor Market
9.4. Asia-Pacific Shunt Reactor Market Snapshot
9.4.1. China Shunt Reactor Market
9.4.2. India Shunt Reactor Market
9.4.3. Japan Shunt Reactor Market
9.4.4. Australia Shunt Reactor Market
9.4.5. South Korea Shunt Reactor Market
9.4.6. Rest of Asia Pacific Shunt Reactor Market
9.5. Latin America Shunt Reactor Market Snapshot
9.5.1. Brazil Shunt Reactor Market
9.5.2. Mexico Shunt Reactor Market
9.5.3. Rest of Latin America Shunt Reactor Market
9.6. Rest of The World Shunt Reactor Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. GE (U.S.) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Siemens (Germany)
10.2.3. Toshiba Corporation (Japan)
10.2.4. CG Power and Industrial Solutions Limited (India)
10.2.5. Hitachi Energy (Switzerland)
10.2.6. Hyosung Corporation (Korea)
10.2.7. ABB (Switzerland)
10.2.8. Nissin Electric Co Ltd (Japan)
10.2.9. Fuji Electric Co., Ltd. (Japan)
10.2.10. GBE SpA (Italy)
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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