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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:
Fixed
Variable
By Type:
Oil Immersed
Air Core
By End-user:
Electric Utility
Renewable Energy
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
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
3.1.1.1. Rapid augmentation and modernization of transmission and distribution networks
3.1.1.2. Surging demand for electricity
3.1.2. Market Challenges
3.1.2.1. Development of alternate technologies
3.1.2.2. Low-quality products
3.1.3. Market Opportunities
3.1.3.1. Flourishing growth of the renewable energy sector
3.1.3.2. 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
9.2.1.1. Product breakdown estimates & forecasts, 2019-2029
9.2.1.2. Type breakdown estimates & forecasts, 2019-2029
9.2.1.3. 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.)
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. 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

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Market driving trends and favorable economic conditions
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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.
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