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Single Phase Fixed Shunt Reactor Market Size - By Insulation (Oil Immersed, Air Core), By End Use (Electric Utility, Renewable Energy), regional Outlook & Global Forecast, 2024 – 2032

  • Report ID: GMI8311
  • Published Date: Feb 2024
  • Report Format: PDF

Single Phase Fixed Shunt Reactor Market Size

Single Phase Fixed Shunt Reactor Market was valued at USD 485.6 million in 2023 and is projected to expand at more than 5.1% CAGR between 2024 and 2032. The rising deployment of renewable energy sources including wind and solar into the grid necessitates reactive power compensation, driving the demand for efficient equipment.
 

Single Phase Fixed Shunt Reactor Market

As renewables integrate faster, the single-phase fixed shunt reactor market is set to expand, meeting the rising demand for grid stability and improved power quality. Moreover, increasing demand for electricity, especially in urban areas, fuels the need for efficient power transmission and distribution systems, where fixed shunt reactors play a significant role in voltage regulation and power quality improvement.

COVID–19 Impact

The COVID-19 pandemic disrupted the single-phase fixed shunt reactor market, causing project delays and supply chain disruptions. Reduced industrial activities led to deferred investments in power infrastructure, impacting product demand. However, the crisis emphasized grid resilience, prompting investments in reactive power compensation solutions. s economies recover and industries resume operations, the market is expected to gradually rebound, driven by initiatives focused on modernizing power grids and enhancing energy efficiency in the post-pandemic era.
 

Single Phase Fixed Shunt Reactor Market Trends

The industry is experiencing notable growth owing to the expanding power infrastructure, particularly in emerging economies. Additionally, technological advancements in digital monitoring and control systems enable better real-time management of reactive power in power systems. Furthermore, regulatory initiatives emphasizing grid modernization and reliability further propel market growth. As industries and utilities focus on enhancing power quality and reducing losses, the single-phase shunt reactor market is poised for continuous expansion.
 

Single Phase Fixed Shunt Reactor Market Analysis

Single Phase Fixed Shunt Reactor Market Size, By Insulation, 2022 - 2032 (USD Million)

The oil immersed fixed shunt reactors segment dominated over 60% of the market share in 2023 on account of their superior cooling capabilities compared to dry-type reactors. The use of oil provides effectively insulating windings, excellent dielectric properties, and prevention of electrical breakdowns. However, oil-immersed insulation ensures efficient heat transfer, superior thermal conductivity, compactness, and cost-effectiveness, making it an attractive choice in the single-phase fixed shunt reactor market.
 

Single Phase Fixed Shunt Reactor Market Share, By End Use, 2023

The electric utility segment will showcase 3% growth up to 2032. As utilities aim to enhance grid stability, manage reactive power, and improve voltage regulation, investments in fixed shunt reactors for transmission and distribution networks are increasing. Factors like urbanization, industrialization, and renewable energy integration further drive market expansion. In addition, grid modernization initiatives and the demand for reliable power supply stimulate investments in single-phase fixed shunt reactors by electric utilities. With a focus on enhancing grid efficiency and reliability, the market anticipates continued upward trajectory, offering manufacturers and suppliers opportunities to meet the growing demand efficiently.
 

Asia Pacific Single Phase Fixed Shunt Reactor Market Size, 2022 - 2032 (USD Million)

Asia Pacific single-phase fixed shunt reactor market is projected to surpass USD 340 million by 2032. Rapid industrialization and urbanization in countries like China, India, and Southeast Asia, elevating electricity demand and necessitating infrastructure reinforcement. India's 7.3% energy consumption increase in 2022, attributed to robust economic and urban expansion, underscores this trend. Additionally, the integration of renewable energy sources like solar and wind demands enhanced grid stability, fueling the adoption of fixed shunt reactors. Government initiatives to modernize power grids further accelerate market growth. Utilities' focus on energy efficiency and reliability also fuels investment in single-phase fixed shunt reactors, propelling market expansion in the region.
 

Single Phase Fixed Shunt Reactor Market Share

Global Company Market Share Analysis, 2023, (%)

Siemens Energy has emerged as one of the leading industry participants owing to its trusted reputation for reliability and quality engineering. Its global presence enables effective market penetration and strong partnerships with utilities worldwide. Moreover, Siemens Energy's dedication to deliver diverse range of innovative solutions along with research & development ensures continuous adaptation to industry needs, solidifying its leadership in the single-phase fixed shunt reactor market.
 

Single Phase Fixed Shunt Reactor Market Companies

Some of the prominent players operating across the single-phase fixed shunt reactor industry are:

  • CG Power & Industrial Solutions Ltd.
  • Fuji Electric Co., Ltd.
  • GBE S.p.A
  • GE
  • GETRA S.p.A.
  • HICO America
  • Hitachi Energy Ltd.
  • HYOSUNG HEAVY INDUSTRIES
  • NISSIN ELECTRIC Co., Ltd.
  • SGB SMIT
  • Shrihans Electricals Pvt. Ltd.
  • Siemens Energy
  • TMC TRANSFORMERS MANUFACTURING COMPANY
  • Toshiba Energy Systems & Solutions Corporation
  • WEG
     

Single Phase Fixed Shunt Reactor Industry News

  • In April 2022, Hitachi Energy introduced Oceaniq, a collection of pioneering solutions designed specifically for offshore environments. The Oceaniq series integrates cutting-edge technology and specialized knowledge to cater to the distinct challenges faced across offshore operations. Under Oceaniq, Hitachi Energy has launched Oceaniq transformers and shunt reactors in partnership with several floating offshore developers, aimed at enhancing the operational effectiveness of wind farms.
     
  • In May 2020, GE established a strategic partnership with the renowned international trade company American Roll-On Roll-Off Carrier Group. This collaboration enabled GE to successfully transport three shunt reactors to Texas, USA, destined for a grid modernization project in the Pacific Northwest. This project is a significant undertaking by the U.S. Department of Energy (DOE) to support the Bonneville Power Administration (BPA) in achieving its long-term strategic objectives in the region.
     

This single phase fixed shunt reactor market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD Million’ from 2019 to 2032, for the following segments:

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Market, By Insulation

  • Oil immersed
  • Air core

Market, By End Use

  • Electric utility
  • Renewable energy

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • South Africa
  • Latin America
    • Brazil
    • Argentina

 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of single phase fixed shunt reactor was reached USD 485.6 million in 2023 and is expected to register over 5.1% CAGR from 2024 to 2032, owing to rising deployment of renewable energy sources including wind and solar into the grid, necessitating reactive power compensation worldwide.

The oil immersed segment held over 60% share of single phase fixed shunt reactor market in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to providing effective insulating windings, excellent dielectric properties, and prevention of electrical breakdowns.

Asia Pacific single phase fixed shunt reactor industry is expected to cross USD 340 million by 2032, due to rapid industrialization and urbanization, elevating electricity demand and necessitating infrastructure reinforcement in the region.

CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd., GBE S.p.A, GE, GETRA S.p.A., HICO America, Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, NISSIN ELECTRIC Co., Ltd., and SGB SMIT, are some of the major single phase fixed shunt reactor companies worldwide.

Single Phase Fixed Shunt Reactor Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 259
  • Countries covered: 17
  • Pages: 210
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