Air Core Single Phase Shunt Reactor Market
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The global air core single phase shunt reactor market size was valued at USD 571.8 million in 2023 and is estimated to grow at a CAGR of 6.9% from 2024 to 2032. A key factor propelling the growth of the market is the increase in the demand for power transmission, integration of renewable energy sources, smart grids, and improvement in voltage stability. Investment in electricity consumption, modernization of government infrastructure, and construction of new grids accentuate market growth.
The need for clean technologies and power-efficient, maintenance-free devices contribute positively to the market growth. According to the U.S. Department of Energy, their modernization efforts have reduced the infrastructural gap through the installation of more than 103 million smart meters that cover 75% of the households and these figures highlight the advanced power management technologies adopted in the nation. From this, it can be gleaned the market's potential is substantial as the power systems get more advanced and sophisticated methods of reactive power compensation are needed.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Air Core Single Phase Shunt Reactor Market size in 2023: | USD 571.8 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6.9 |
| 2023 Value Projection: | USD 1 Billion |
| Historical Data for: | 2021-2023 |
| No of Pages: | 70 |
| Tables, Charts & Figures: | 10 |
| Segments Covered: | Product, End Use |
| Growth Drivers: |
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| Pitfalls Challenges: |
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There are multiple factors that accelerate the growth of single-phase air core shunt reactors. Enhanced stability and efficiency of the grid is achieved through the adoption of smart grids and digital substations. The integration of renewable sources of energy, especially solar and wind, enhances the use of shunt reactors as they balance the fluctuating voltage.
Manufacturers are now paying attention to sleek and portable models that can work in metropolitan settings and green energy facilities. The innovation of new materials, especially high-temperature superconductors and better insulation, increases the operability and lifetime of the reactors. In addition, developing countries seeking Sustainable energy initiatives and grid modernization are also contributing to market growth.
The fixed shunt reactor segment to reach USD 580 million in 2032. This growth is caused by the increasing requirements from the grid operators for controllable dynamic voltage management and adoption of renewable energy resources. Fixed shunt reactors help to limit the voltage change when there are fluctuations, which are common in high voltage networks.
There is also an increase in the construction of electrical networks in various developing nations and the improvement of old power generation infrastructure which further contributes to the increase in the market. The focus from the governments of various countries to improve energy efficiency and invest on technologies aimed at improving the performance of the grid systems is also expected to be of great assistance to this positive trend.
It is estimated that the renewable energy sector will contribute significantly to the growth of the air core single-phase shunt reactor market with a CAGR exceeding 10% through 2032. This development is associated with improved use of renewable energy sources, including wind and solar energy, that need proper integration into the power grid alongside effective voltage regulation.
The air core single-phase shunt reactors are crucial in the power systems for managing control of power voltage and now with renewable power installations and modernization of the power grids all around the world, the demand for the technology is further increasing. The global reduction of carbon emissions is also a very important factor contributing to the expansion of the market.
Shunt reactors play a vital role for the energy grids owing to the increasing focus towards renewable energy sources. Reportedly within the timeframe of 2024 to 2032, the U.S. air core single phase shunt reactors market will exceed USD 130 million, primarily driven from new technologies being deployed to the grid, government initiatives, as well as the incorporation of renewable energies.
The United States Department of Energy’s Grid Modernization Initiative has allocated USD 220 million towards financing the government’s grid modernization programs. The increasing demand for voltage control solutions such as air core single phase shunt reactors is best served by this investment. Further, adapting policies along with upgrading infrastructure and investing in smart grids shifts the focus of utilities to ensuring power systems are built to be stable and adaptive to changes in the future.
Cities and populations are drastically expanding in the Asia Pacific which is resulting in an increased reliance on renewable energy sources. This has strengthened the market for air core single-phase shunt reactors. Further, the Chinese and Indian governments are pushing for expansion of the power grid, which ultimately is benefitting businesses that offer innovative voltage regulation solutions that are reliable and efficient.
Siemens Energy continues to capture a large share of the single-phase air core shunt reactor industry owing to the development of more sophisticated voltage control and grid supporting solutions. The company has further reinforced this position owing to the global shift towards reliable voltage control for energy networks and smart grids and the need to integrate renewable energy sources and modernize power infrastructure.
Major players operating in the air core single phase shunt reactor industry are:
Market, By Product
Market, By End Use
The above information has been provided for the following regions and countries:
Major players in the air core single-phase shunt reactor industry include Coil Innovation, GETRA, GE, Hilkar, Hyosung Heavy Industries, Hitachi Energy, MindCore Technologies, Nissin Electric, Phoenix Electric Corp., Siemens Energy, Shrihans Electricals, SGB SMIT, Toshiba Energy Systems & Solutions Corporation, and TMC Transformers Manufacturing Company.
The renewable energy sector is fueling significant growth in the air core single-phase shunt reactor market, with a projected CAGR of over 10% through 2032, due to the increasing integration of renewable energy sources, such as wind and solar, which require advanced voltage regulation solutions to maintain grid stability.
The U.S. market for air core single-phase shunt reactor is expected to surpass USD 130 million by 2032, driven by renewable energy integration, grid modernization, and supportive government policies.
The market size for air core single-phase shunt reactor was reached USD 571.8 million in 2023 and is estimated to grow at a 6.9% CAGR from 2024 to 2032, driven by the augmentation and modernization of transmission and distribution networks.
The fixed shunt reactor segment is projected to exceed USD 580 million by 2032, led by the increasing demand for efficient grid voltage management and the rising focus on renewable energy integration.