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Air Core Fixed Shunt Reactor Market Size

Report ID: GMI8257
Published Date: Feb 2024
Report Format: PDF

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Air Core Fixed Shunt Reactor Market Size

Air Core Fixed Shunt Reactor Market was valued at USD 463.1 million in 2023 and is predicted to grow at a CAGR of over 6.7% between 2024 and 2032. These reactors play a crucial role in enhancing grid stability by compensating reactive power, mitigating voltage fluctuations, and improving power factor correction within electrical networks. The industry is anticipated to witness substantial demand as renewable energy sources like wind and solar become more prevalent.

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Air core fixed shunt reactors aid in managing the variability of power generation, ensuring consistent grid operation, complementing its deployment across renewable sources. Growing demand for electricity and the necessity to extend transmission networks to accommodate urbanization and industrialization will boost the industry landscape. They offer high efficiency and reliability in reactive power compensation, making them indispensable for modern power systems aiming for improved efficiency and stable operations.

Air Core Fixed Shunt Reactor Market Report Attributes
Report Attribute	Details
Base Year:	2023
Air Core Fixed Shunt Reactor Market Size in 2023:	USD 463.1 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.7%
2032 Value Projection:	USD 837.6 Million
Historical Data for:	2019 to 2023
No. of Pages:	240
Tables, Charts & Figures:	258
Segments covered:	Phase, End Use
Growth Drivers:	Augmentation & modernization of transmission & distribution networks Rising demand for electricity Upgradation of aging technology in developed nations High voltage transmission lines addition
Pitfalls & Challenges:	Development of alternate technologies Low quality products

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market value of air core fixed shunt reactor was reached USD 463 million in 2023 and is envisioned to record 6.7% from 2024 to 2032 as renewable energy sources like wind and solar become more prevalent.

The three-phase shunt reactors segment held approximately 61% of the market share in 2023 and will grow significantly through 2032 on account of the superior grid stability and voltage regulation they offer.

Asia Pacific air core fixed shunt reactor market revenue to cross USD 375 million by 2032, while increasing at growth rate of 6.5% through2032, owing to the growing energy demand across the developing nations.

Coil Innovation, GE, GETRA S.p.A., Hilkar, Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, MindCore Technologies, NISSIN ELECTRIC Co.,Ltd., Phoenix Electric Corp., SGB SMIT, Shrihans Electricals Pvt. Ltd., Siemens Energy, TMC TRANSFORMERS MANUFACTURING COMPANY, and Toshiba Energy Systems & Solutions Corporation.