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Utility Based Shunt Reactor Market Share

Report ID: GMI7458
Published Date: Nov 2023
Report Format: PDF

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Utility Based Shunt Reactor Market Share

Hitachi Energy stands as a dominant force in the utility-based shunt reactor market, commanding a significant market share. Renowned for its cutting-edge technologies and innovative solutions, Hitachi Energy offers a diverse range of high-quality shunt reactors that cater to the evolving needs of modern power systems. Leveraging extensive research, superior product engineering, and a robust global presence, the company has solidified its position as a key player. Hitachi Energy's commitment to reliability, efficiency, and tailored solutions has earned the trust of utility providers worldwide, cementing its stronghold and influencing the market landscape in the utility-based shunt reactor segment.

Some of the key market players operating across the utility based shunt reactor industry are:

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

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility based shunt reactor was worth USD 1.3 billion in 2022 and is expected to register over 5% CAGR through 2032, due to the increased global electricity needs spurred by rapid population expansion, urbanization, and industrial growth worldwide.

Three-phase utility based shunt reactor industry is expected to register over 5.5% CAGR from 2023 to 2032, owing to the need to address reactive power needs, aligning perfectly with the standard configuration for most power transmission and distribution networks.

Asia Pacific utility based shunt reactor market is expected to record over 5.5% CAGR from 2023 to 2032, due to the soaring energy consumption fueled by rapid urbanization, industrial expansion, and population upsurge in the region.

GE, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., Hitachi Energy Ltd., TMC TRANSFORMERS MANUFACTURING COMPANY, and NISSIN ELECTRIC Co.,Ltd. are some of the major utility based shunt reactor companies worldwide.