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Fixed Shunt Reactor Market Size
- Report ID: GMI6726
- Published Date: Sep 2023
- Report Format: PDF
Fixed Shunt Reactor Market Size
Fixed Shunt Reactor Market size was valued at USD 1.1 billion in 2022 and is set to observe around 6.1% CAGR from 2023 to 2032. Driven by the increasing incorporation of renewable energy sources into the electrical grid, which is necessitating fixed shunt reactors to stabilize voltage fluctuations and ensure grid stability amid intermittent energy generation. Enhanced grid reliability and quality demands further boost the market as fixed shunt reactors regulate voltage and minimize power interruptions.
The primary function of the technology is to absorb or generate reactive power to regulate voltage levels and improve power system stability. Fixed shunt reactors are primarily used to compensate for capacitive reactive power in the system. When the transmission or distribution line is lightly loaded or has a long length, it tends to exhibit capacitive characteristics, which can cause voltage levels to rise. By connecting a shunt reactor in parallel, it provides an inductive effect, absorbing the excess capacitive reactive power and thereby reducing the voltage levels.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Fixed Shunt Reactor Market Size in 2023: | USD 1.2 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.1% |
| 2032 Value Projection: | USD 2.1 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 290 |
| Tables, Charts & Figures: | 339 |
| Segments covered: | Phase, Insulation, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Fixed Shunt Reactor Market Scope
