Home > Energy & Power > Electrical Equipment > Shunt Reactors > North America Oil Immersed Shunt Reactor Market
North America Oil Immersed Shunt Reactor Market Size
- Report ID: GMI8784
- Published Date: Apr 2024
- Report Format: PDF
North America Oil Immersed Shunt Reactor Market Size
North America Oil Immersed Shunt Reactor Market size was valued at USD 247.4 million in 2023 and is projected to grow at a CAGR of 6.2% between 2024 and 2032, driven by factors including grid modernization initiatives, increasing demand for electricity, and the integration of renewable energy sources.
For instance, Canada has allocated USD 100 million through its Smart Grid Program to bolster the implementation of smart grid technologies and integrated systems. Additionally, rising investments in transmission and distribution infrastructure, coupled with the need for voltage stabilization and reactive power compensation, fuel market growth. Furthermore, government regulations promoting energy efficiency and grid stability contribute to the expansion of the oil-immersed shunt reactor market in the region.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Oil Immersed Shunt Reactor Market Size in 2023: | USD 247.4 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.2% |
| 2032 Value Projection: | USD 428.6 Million |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 84 |
| Segments covered: | Phase, Product, End Use |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
North America Oil Immersed Shunt Reactor Market Scope
