Global Shunt Reactor Market Size, Share, Opportunities, And Trends By Type (Oil-Immersed, Dry-Type), By End-User (Electrical Utilities, Industrial), And By Geography - Forecasts From 2024 To 2029

  • Published : Feb 2024
  • Report Code : KSI061611349
  • Pages : 150

A shunt reactor is a piece of electrical equipment used in high-voltage power transmission systems to stabilize the voltage during load variations. It is similar to a power transformer, but it has only one winding per phase as compared to a power transformer. In other words, shunt reactors are used to increase the power and energy system efficiency as they absorb and compensate for the reactive power in cables and long high-voltage transmission lines.

Market Drivers

  • Growing Urbanization-

Growing urbanization and increasing power consumption is anticipated to propel the market. Electricity is an indispensable part of the economy, as industries and households significantly rely on the uninterrupted supply of power. The emerging age of digitization and electrification is propelling the need for proper transmission of electricity more than ever before. In the coming era of high-speed trains/metro, smart cities, high-speed internet accessibility, and electric vehicles amongst others are heavily dependent on such reactors.

  • Upgrading the power grid-

 Many nations understand with the increasing need for electricity, investing in the upgradation and modernization of the power grid will serve strong pillar in the growth of the nations. The power and utility sector in developed nations like the United States, the United Kingdom, and Germany, have been relying on outmoded technologies which are insufficient for the current needs of power in the industrial districts. The International Energy Agency estimates that to reach net-zero emissions by 2050, yearly investments in energy sector infrastructure and technology will need to rise from the current level of more than $1 trillion to $4 trillion by 2030. According to Princeton University, the US electrical transmission network would need to double in size by 2030. Increasing digitization and rising needs for electricity pose a drastic change in the infrastructure, with this, the demand for the Shunt reactors is anticipated to increase in the coming year.

Shunt reactor market segmentation by type into oil-immersed and dry type-

The shunt reactor market is categorized by type into oil-immersed and dry type. Oil-immersed shunt reactors are characterized by high efficiency and effective heat dissipation, coupled with a compact design. On the other hand, dry-type shunt reactors are distinguished by being fire-resistant and environmentally friendly, exhibiting lower maintenance requirements, and being suitable for both indoor and outdoor installations.

APAC is anticipated to hold a significant share of the global shunt reactor market-

Electricity outreach programs by various governments to rural areas are also key drivers propelling the demand for shunt reactors, especially in the Asia Pacific region. Increasing disposable income in countries like India, China, South Korea, and Indonesia amongst others, are taking significant steps to spread the electricity grid.

Market Developments

  • December 2023- National Grid delivered a new shunt reactor to the Melksham substation during the week to guarantee that electricity supplies stayed secure and reliable for the local area. Weighing 131 tonnes and measuring over seven meters in length and almost four meters in height, the shunt reactor was comparable in size and weight to a super grid transformer. Its distinct purpose was to assist in efficiently managing reactive power and voltage levels on the network.
  • January 2022- The initiation of production for the world's first 500kV Dry-Type Shunt Reactor was announced by Trench Group.

Market Segmentation-

  • By Type
    • Oil-immersed
    • Dry Type
  • By End User
    • Electrical Utilities
    • Industrial
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Australia
      • Japan
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Shunt Reactor Market was valued at US$2.306 billion in the year 2020.
The global shunt reactor market is projected to reach a market size of US$3.243 billion by 2027.
The global shunt reactor market is projected to witness a CAGR of 4.99% over the forecast period.
Growing urbanization and increasing power consumption is anticipated to propel the shunt reactor market.
The Asia-Pacific region is showcasing robust growth in the shunt reactor market as economies like China and India is relentlessly expanding their power generation and undertaking high investment.

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key benefits to the stakeholder

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. SHUNT REACTOR MARKET BY TYPE

5.1. Introduction

5.2. Oil-immersed

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.2.3. Geographic lucrativeness 

5.3. Dry Type

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.3.3. Geographic lucrativeness 

6. SHUNT REACTOR MARKET BY END-USER

6.1. Introduction

6.2. Electrical Utilities

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.2.3. Geographic lucrativeness 

6.3. Industrial

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.3.3. Geographic lucrativeness 

7. SHUNT REACTOR MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Type

7.2.2. By End-User

7.2.3. By Country

7.2.3.1. United States

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Type

7.3.2. By End-User

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Type

7.4.2. By End-User

7.4.3. By Country

7.4.3.1. Germany

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. France

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. United Kingdom

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Italy

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Spain

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.4.3.6. Others

7.4.3.6.1. Market Trends and Opportunities

7.4.3.6.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Type

7.5.2. By End-User

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Israel

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects  

7.5.3.4. Others

7.5.3.4.1. Market Trends and Opportunities

7.5.3.4.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Type

7.6.2. By End-User

7.6.3. By Country

7.6.3.1. China

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. Australia

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. Japan

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. India

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. South Korea

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6.  Thailand

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Indonesia

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

7.6.3.8. Taiwan

7.6.3.8.1. Market Trends and Opportunities

7.6.3.8.2. Growth Prospects

7.6.3.9. Others

7.6.3.9.1. Market Trends and Opportunities

7.6.3.9.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisition, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Hitachi ABB Power Grids

9.2. Siemens AG

9.3. General Electric Company

9.4. Fuji Electric Co. Ltd.

9.5. Nissin Electric Co. Ltd.

9.6. Zaporozhtransformator

9.7. Mitsubishi Electric Corporation

9.8. CG Power and Industrial Solutions Limited

9.9. Toshiba Energy and Solutions Corporation

9.10. Hyosung Heavy Industries


Hitachi ABB Power Grids

Siemens AG

General Electric Company

Fuji Electric Co. Ltd.

Nissin Electric Co. Ltd.

Zaporozhtransformator

Mitsubishi Electric Corporation

CG Power and Industrial Solutions Limited

Toshiba Energy and Solutions Corporation

Hyosung Heavy Industries