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Fixed Shunt Reactor Market Trends

Report ID: GMI6726
Published Date: Sep 2023
Report Format: PDF

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Fixed Shunt Reactor Market Trends

The fixed shunt reactor market is witnessing several notable trends that are shaping its trajectory. Firstly, the increasing integration of renewable energy sources into power grids is driving the need for improved grid stability and voltage control. Fixed shunt reactors play a vital role in managing reactive power and maintaining voltage levels, making them essential for accommodating the fluctuations inherent in renewable energy generation. Moreover, the aging grid infrastructure in many regions is prompting utilities to invest in upgrading and modernizing their systems, which includes the installation of shunt reactors for enhancing grid reliability. The demand for energy-efficient solutions is also driving innovation in shunt reactor design, with a focus on reducing losses and optimizing performance.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of fixed shunt reactor was reached USD 1.2 billion in 2023 and will be worth over USD 2.1 billion in 2032, given the rapid integration of renewable energy sources into the electrical grid.

Why is the demand for three-phase fixed shunt reactors increasing?

Asia Pacific shunt reactor market will record over 5.5% CAGR till 2032, on account of rapid population growth, industrialization, and urbanization and the subsequent surge in electricity demand in the region.

Siemens Energy, Hitachi Energy Ltd., WEG, SGB SMIT, NISSIN ELECTRIC Co.,Ltd., Shrihans Electricals Pvt. Ltd., GE, GBE S.p.A, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd. and GETRA S.p.A. are some of the key firms.