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Oil Immersed Fixed Shunt Reactor Market Size
- Report ID: GMI8098
- Published Date: Feb 2024
- Report Format: PDF
Oil Immersed Fixed Shunt Reactor Market Size
Oil Immersed Fixed Shunt Reactor Market size was estimated at USD 791.8 million in 2023 and is expected to grow at over 5.6% CAGR from 2024 to 2032. The increasing demand for electricity, particularly across the emerging economies, is propelling the expansion of power infrastructure, which necessitates the deployment of effective power compensation solutions including fixed shunt reactors to enhance grid stability and efficiency. For instance, as per Enerdata, India witnessed a strong growth of 7.3% in energy consumption in 2022 owing to the strong economic growth in the nation.
Moreover, the rising adoption of renewable energy sources including wind and solar power requires effective reactive power management to mitigate voltage fluctuations, further boosting the demand for fixed shunt reactors in power transmission & distribution networks. Additionally, advancements in grid modernization efforts, coupled with the need for reliable power supply and reduced transmission losses, are driving utilities and grid operators worldwide to invest in reactive power compensation technologies, thereby fostering the growth of the oil-immersed fixed shunt reactor market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Oil Immersed Fixed Shunt Reactor Market Size in 2023: | USD 791.8 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.6% |
| 2032 Value Projection: | USD 1.3 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 195 |
| Tables, Charts & Figures: | 235 |
| Segments covered: | Phase, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil Immersed Fixed Shunt Reactor Market Scope
