The global shunt reactor market is projected to grow at a CAGR of 4.50% to reach the market size of US$3.204 billion by 2025 from US$2.460 billion in 2019. A shunt reactor is a compact device that acts as an absorber of reactive power and in turn, boosts the energy efficiency of the system. It is commonly used for reactive power compensation in long high-voltage transmission lines and in cable systems.
Shunt reactors are normally connected to substation bus-bar, often directly to the overhead transmission lines. They can also be connected to tertiary windings of power transformers. The shunt reactor market is continuously growing, facilitating new developments. Increasing non-convention power addition coupled with low power transmission lines is catalyzing the demand for these reactors across key geographic regions.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the shunt reactor value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the global shunt reactor market.
Major industry players profiled as part of the report are ABB Limited., General Electric Company, Nissin Electric Co. Ltd., Mitsubishi Electric, and Toshiba Energy Solutions Corporation among others.
|Market size value in 2019||US$2.460 billion|
|Market size value in 2025||US$3.204 billion|
|Growth Rate||CAGR of 4.50% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||ABB, 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|
|Customization scope||Free report customization with purchase|
The global shunt reactor market can be segmented based on type, end-user, and geography.
Frequently Asked Questions (FAQs)
Q1. What is the size of the global shunt reactor market?
A1. Shunt Reactor Market was valued at US$2.460 billion in the year 2019.
Q2. What will be the shunt reactor market size by 2025?
A2. The global shunt reactor market is projected to reach a market size of US$3.204 billion by 2025.
Q3. What are the growth prospects for the global shunt reactor market?
A3. The shunt reactor market is projected to grow at a CAGR of 4.50% over the forecast period.
Q4. Who are the major players in the global shunt reactor market?
A4. Major industry players profiled as part of the shunt reactor market report are ABB Limited., General Electric Company, Nissin Electric Co. Ltd., Mitsubishi Electric, and Toshiba Energy Solutions Corporation among others.
Q5. How is the global shunt reactor market segmented?
A5. The global shunt reactor market has been segmented by type, end-user, and geography.