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

Asia Pacific Shunt Reactor Market Size

Asia Pacific Shunt Reactor Market size was valued at over USD 992.12 million in 2023 and is projected to expand at 7.7% CAGR from 2024 to 2032. The region's burgeoning demand for electricity, fueled by urbanization, industrialization, and population growth, has led to increased investments in power transmission and distribution infrastructure. Shunt reactors play a crucial role in maintaining grid stability and voltage control, making them essential for accommodating this growing energy demand.
 

Shift towards renewable energy sources, such as wind and solar power, has created a need for shunt reactors to manage the intermittent nature of these energy inputs. Moreover, ongoing technological advancements in shunt reactor design and manufacturing processes are enhancing their efficiency and reliability, further propelling Asia Pacific shunt reactor market growth. Government initiatives promoting grid modernization and energy efficiency are incentivizing the adoption of shunt reactors across the Asia-Pacific region, making it a vital market for this critical electrical component.
 

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the Asia Pacific shunt reactor market. In the early stages of the pandemic, a substantial disruption in the supply chain was observed, as manufacturing facilities were temporarily shut down, leading to delays in production and delivery of shunt reactors. However, as countries in the Asia-Pacific region gradually managed the pandemic and resumed economic activities, the demand for electricity and the need for grid stability remained high, driving a recovery in the shunt reactor market.
 

Asia Pacific Shunt Reactor Market Trends

Asia Pacific shunt reactor market has witnessed several notable trends in recent years. One key trend is the growing emphasis on grid stability and the integration of renewable energy sources into power grids. As countries in the region increasingly adopt renewable energy technologies, the need for shunt reactors to mitigate voltage fluctuations and maintain grid reliability has surged. Moreover, the demand for high-voltage shunt reactors has risen with the expansion of ultra-high voltage (UHV) transmission networks in countries like China and India, aiming to transmit power over long distances with reduced losses.
 

Asia Pacific Shunt Reactor Market Analysis

The adoption of three phase shunt reactors is rapidly increasing and is anticipated to grow at a CAGR of over 8% through 2032. The standard configuration of three-phase power systems in most power transmission and distribution networks necessitates the use of three-phase shunt reactors to compensate for reactive power, creating a steady demand for these products. Government initiatives and regulations aimed at enhancing power system efficiency, reducing losses, and promoting the integration of renewable energy sources are expected to further boost the adoption of three-phase shunt reactors.
 

The oil immersed shunt reactors market was valued at over USD 600 million in 2022 and is predicted to reach USD 1.2 billion by 2032, driven by the distinct advantages offered by the technology over air-core reactors, including a higher power handling capacity, enabling them to effectively manage larger amounts of reactive power within the power system. This capability aligns perfectly with the increasing energy demands across the region due to population growth and industrialization.
 

The Fixed shunt reactors market size exceeded USD 550 million in 2022 and is set to observe around 6.5% CAGR through 2032. The increasing demand for electricity due to population growth, urbanization, and industrialization is necessitating the expansion and modernization of power grids. Government initiatives and regulations focused on enhancing energy efficiency, reducing transmission losses, and integrating renewable energy sources into the grid are incentivizing the deployment of fixed shunt reactors.  As grid reliability and efficiency continue to be paramount, fixed shunt reactors Is likely to play a pivotal role in shaping the region's evolving power landscape
 

Electric utility segment captured around 70% of the market Asia Pacific shunt reactor market share in 2022. These utilities are playing a pivotal role in this expansion due to their critical need for grid stability and voltage control in the face of surging electricity demand. As urbanization and industrialization continue to drive increased power consumption, electric utilities are investing heavily in upgrading and expanding their transmission and distribution networks. Shunt reactors are essential components in these networks, as they help manage voltage levels, reduce line losses, and enhance overall grid efficiency.
 

China shunt reactor market is expected to witness 7.5% growth up to 2032, owing to the rapid industrialization, urbanization, and burgeoning population across the nation, which have further led to a substantial increase in electricity consumption, necessitating the expansion and upgrade of the country's power transmission and distribution infrastructure. Additionally, China's commitment to clean energy and renewable sources, such as wind and solar power, requires the integration of shunt reactors to manage the intermittent nature of these resources.
 

Asia Pacific Shunt Reactor Market Share

Major participants in the Asia Pacific shunt reactor market include:

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

Asia Pacific Shunt Reactor Industry News:

• In March 2022, JSHP has effectively implemented its internally produced testing transformer, which is capable of operating at 850kV with a capacity of 400MVA for three-phase applications. Presently, this transformer is in use at JSHP's specialized laboratory for the purpose of performing high-voltage shunt reactor tests. This new testing transformer's deployment has enabled JSHP to broaden its selection of shunt reactors, now encompassing models for three-phase 525kV as well as single-phase 765kV configurations.
   

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

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By Phase

• Single Phase
• Three Phase

By Insulation

• Oil Immersed
• Air Core

By Product

• Fixed
• Variable

By End Use

• Electric Utility
• Renewable Energy

The above information has been provided for the following countries:

• China
• India
• Japan
• Australia