Home > Energy & Power > Electrical Equipment > Shunt Reactors > Asia Pacific Fixed Shunt Reactor Market

Asia Pacific Fixed Shunt Reactor Market Size - By Phase (Single Phase, Three Phase), By Insulation (Oil Immersed, Air Core), By End Use (Electric Utility, Renewable Energy), Country Outlook & Forecast, 2024 – 2032

  • Report ID: GMI8878
  • Published Date: Apr 2024
  • Report Format: PDF

Asia Pacific Fixed Shunt Reactor Market Size

Asia Pacific Fixed Shunt Reactor Market reached a value of USD 571.7 million in 2023 and is forecasted to exhibit a CAGR of 5.9% until 2032. Increasing demand for electricity, driven by urbanization and industrialization, necessitates grid stabilization measures, which drives the product penetration.
 

Asia Pacific Fixed Shunt Reactor Market

To get key market trends   Download Free Sample

According to India's Ministry of Power, energy demand surged by 50.8% between 2013-14 and 2022-23. Growing investments in infrastructure development, particularly in emerging economies, fuel the adoption of shunt reactors to enhance power system efficiency. Additionally, advancements in technology, coupled with government initiatives promoting renewable energy integration, further contribute to the market's expansion by necessitating enhanced grid stability measures.
 

Asia Pacific Fixed Shunt Reactor Market Trends

The Asia Pacific market for fixed shunt reactor is witnessing steady growth due to increasing demand for electricity, driven by urbanization and industrialization. With a focus on improving power quality and grid stability, utilities are investing in infrastructure upgrades, including the installation of fixed shunt reactors. Additionally, renewable energy integration and the expansion of transmission networks are further propelling market growth.
 

According to IRENA, China's renewable energy capacity surged to almost 1.2 terawatts in 2022, marking a growth of approximately 14 percent compared to the preceding year. Key trends include the adoption of advanced technologies for efficient operation and the emergence of smart grid initiatives. Overall, the market is poised for continuous expansion in the Asia Pacific region.
 

Asia Pacific Fixed Shunt Reactor Market Analysis

Asia Pacific Fixed Shunt Reactor Market Size, By Phase, 2022 – 2032 (USD Million)
Learn more about the key segments shaping this market   Download Free Sample

Segmented by phase, the three-phase fixed shunt reactors currently dominate, expected to exceed USD 640 million by 2032. This growth is fueled by rising needs for voltage stabilization and reactive power compensation solutions within transmission and distribution networks. Furthermore, initiatives for grid modernization and the integration of renewable energy sources are boosting the uptake of fixed shunt reactors. Investments in upgrading aging infrastructure play a vital role in market expansion as utilities strive to bolster grid reliability and efficiency to accommodate the region's evolving energy demands.
 

Asia Pacific Fixed Shunt Reactor Market Revenue Share, By Insulation, 2023
Learn more about the key segments shaping this market   Download Free Sample

The Asia Pacific fixed shunt reactor market utilizing oil-immersed insulation is forecasted to achieve 5% CAGR through 2032. This growth trajectory is attributed to several advantages inherent to oil-immersed insulation for fixed shunt reactors, including superior cooling properties, enhanced dielectric strength, and improved thermal conductivity. Additionally, oil-immersed insulation offers better protection against environmental factors such as moisture and contaminants, thereby prolonging the lifespan and reliability of fixed shunt reactors in demanding operational conditions. Moreover, oil-immersed insulation facilitates easier maintenance and servicing, reducing downtime and overall operational costs for utilities.
 

China Fixed Shunt Reactor Market Size, 2022 – 2032 (USD Million)
Looking for region specific data?   Download Free Sample

The Chinese market for fixed shunt reactors is poised to exceed USD 450 million by 2032, due to the increasing demand for electricity in China's rapidly developing urban centers necessitates the enhancement of power transmission infrastructure, where fixed shunt reactors play a crucial role. Additionally, the government's initiatives to upgrade the power grid to accommodate renewable energy sources contribute significantly to the market expansion. Over the 2021-2025 period, China aims to revamp and enlarge its power grids through investments totalling USD 442 billion, which in turn aid in market growth. Moreover, ongoing industrialization and urbanization further fuel the demand for efficient power transmission solutions, fostering the market's growth trajectory.
 

Asia Pacific Fixed Shunt Reactor Market Share

Asia Pacific Fixed Shunt Reactor Company Market Share Analysis, 2023

General Electric commands a significant market share in the Asia-Pacific fixed shunt reactor market. This dominance stems from its extensive technological expertise, robust product portfolio, and established reputation for reliability. Additionally, General Electric's strategic partnerships and widespread distribution network across the region further solidify its position, enabling it to meet the growing demand for fixed shunt reactors in the dynamic Asia-Pacific market.
 

Asia Pacific Fixed Shunt Reactor Market Companies

Some of the major key players operating across the APAC fixed shunt reactor industry are:

  • Alstom
  • CG Power & Industrial Solutions Ltd.
  • Fuji Electric Co., Ltd.
  • General Electric
  • GBE S.p.A
  • HYOSUNG HEAVY INDUSTRIES
  • Hitachi Energy Ltd.
  • NISSIN ELECTRIC Co.,Ltd.
  • SGB SMIT
  • Siemens Energy
  • Shrihans Electricals Pvt. Ltd.
  • Toshiba Energy Systems & Solutions Corporation
  • TMC TRANSFORMERS MANUFACTURING COMPANY
  • TBEA
  • WEG
     

Asia Pacific Fixed Shunt Reactor Industry News

  • In April 2022, Hitachi Energy revealed Oceaniq, a tailored set of solutions for offshore applications, combining advanced technology and specialized expertise to tackle unique offshore challenges. Among its offerings are OceaniQ transformers and shunt reactors, developed in collaboration with floating offshore developers, to boost offshore wind farms operational efficiency. Leveraging Hitachi Energy's industry experience and offshore knowledge, Oceaniq aims to enhance efficiency, performance, and sustainability in the offshore sector.
     
  • In March 2022, JSHP successfully integrated its in-house developed testing transformer, operating at 850kV with a 400MVA capacity for three-phase applications. Currently utilized in JSHP's specialized laboratory for high-voltage shunt reactor testing, this transformer expansion has diversified JSHP's shunt reactor offerings, now including models for three-phase 525kV and single-phase 765kV configurations.
     

This Asia Pacific fixed shunt reactor market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report


Market, By Phase (USD Million)

  • Single phase
  • Three phase

Market, By Insulation (USD Million)

  • Oil immersed
  • Air core

Market, By End Use (USD Million)

  • Electric utility
  • Renewable energy

The above information has been provided for the following countries:

  • China
  • India
  • Japan
  • Australia

 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific fixed shunt reactor was reached USD 571.7 million in 2023 and is set to exhibit a 5.9% CAGR until 2032, driven by increasing demand for electricity, which necessitates grid stabilization measures.
Asia Pacific three-phase fixed shunt reactors market is set to reach USD 640 million by 2032, fueled by rising needs for voltage stabilization and reactive power compensation solutions.
China fixed shunt reactor market held a decent share in 2023 and is poised to exceed USD 450 million by 2032, driven by the need to enhance of power transmission infrastructure.
Alstom, CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd., General Electric, GBE S.p.A, HYOSUNG HEAVY INDUSTRIES, Hitachi Energy Ltd., NISSIN ELECTRIC Co.,Ltd., SGB SMIT, Siemens Energy among others.

Asia Pacific Fixed Shunt Reactor Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 108
  • Countries covered: 4
  • Pages: 120
 Download Free Sample
 Download Free Sample