The shunt reactor market is expected to grow at a CAGR of
4.56% from 2017 to 2022, to reach a market size of USD 3.19 billion by 2022.
The major drivers of the shunt reactor market include increasing demand for
electricity, upgradation of the aging technology, and modernization of the
T&D network.
Browse 70 Market
Data Tables and 32 Figures spread through 119 Pages and in-depth TOC on
"Shunt Reactor Market by Type (Oil-Immersed and Air-Core), Application
(Variable Reactors and Fixed Reactors), End-User (Electrical Utilities and
Industrial Verticals), and Region (North America, Europe, Asia Pacific, and
South America) - Global Forecast to 2022"
Key companies to provide shunt reactors are GE (US), Siemens (Germany), ABB
(Switzerland), Fuji Electric (Japan), Mitsubishi Electric (Japan), CG (India),
Nissin Electric (Japan), Zaporozhtransformator (Ukraine), TBEA (China), Toshiba
(Japan), and Hilkar (Turkey).
The key players in the shunt reactor market have been
indulged in various contracts & agreements to install, construct, develop,
or upgrade the shunt reactors. The companies supply shunt reactors to the
electric utilities and various industrial verticals. The demand for shunt
reactors increases with rise in demand for electricity, which in turn increases
the investment in T&D networks, which leads to increase in the shunt
reactor market. Thus, contracts & agreements is the major strategy adopted
by the companies.
The industrial verticals segment is expected to be the
fastest growing segment during the forecast period. The reactive power
component enters into the system and reduces the power factor, which is used to
measure the efficiency and quality of the power used. Thus, in the industrial
vertical segment, the shunt reactors are used to improve the power factor.
Growing industrialization in developing countries increases the investment in
the T&D infrastructure. The upgradation of the aging technology in various
industries leads to rise in investments in the T&D infrastructure which is
expected to increase the shunt reactor market during the forecast period. The
large investments in the T&D network would create an opportunity for the
manufacturers to supply shunt reactors to various private companies.
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The oil-immersed shunt reactor segment is expected to be
the fastest growing segment during the forecast period. Oil-immersed shunt
reactors are usually utilized for systems with a voltage profile of 72.5 kV
and above and are connected directly to the high-voltage busbar/transmission
network. Investments in the T&D infrastructure and upgradation of the aging
technology are taking place in the developing regions, where the oil-immersed
shunt reactors have a high growth. Asia Pacific and North America are estimated
to have a decent market growth for oil-immersed shunt reactors.
