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North America Shunt Reactor Market Trends

Report ID: GMI7297
Published Date: Nov 2023
Report Format: PDF

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North America Shunt Reactor Market Trends

The burgeoning emphasis on the integration of renewable energy sources and grid modernization, which requires efficient reactive power compensation, driving the adoption of shunt reactors. There's a focus on reducing transmission and distribution losses, and shunt reactors play a crucial role in enhancing grid efficiency. Additionally, advancements in shunt reactor technologies, including digital monitoring and control systems, are enhancing operational performance and reliability. Despite these emphasis on environmental sustainability is driving the development of eco-friendly shunt reactors.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America shunt reactor was crossed USD 340 million in 2022 and is estimated to reach USD 600 million by 2032, due to the increasing demand for electricity and the burgeoning need to maintain grid stability and voltage regulation in the region.

The three phase configuration segment of the North America shunt reactor market is expected to register over 6% CAGR through 2032, due to crucial role in enhancing grid stability, voltage control, and power quality.

U.S. shunt reactor industry is expected to record over 5% CAGR from 2023 to 2032, owing to the growing emphasis on grid modernization and the integration of renewable energy sources, such as wind and solar energy.

Some of the influential North America shunt reactor market players are Hyosung Heavy Industries, General Electric, Siemens Energy, Toshiba Corporation, Fuji Electric Co., Ltd., Nissin Electric Co., Ltd., Hitachi Energy Ltd., Elgin Power Solutions, and Shrihans Electricals Pvt. Ltd., among others.