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

Air Core Fixed Shunt Reactor Market Size

Air Core Fixed Shunt Reactor Market was valued at USD 463.1 million in 2023 and is predicted to grow at a CAGR of over 6.7% between 2024 and 2032. These reactors play a crucial role in enhancing grid stability by compensating reactive power, mitigating voltage fluctuations, and improving power factor correction within electrical networks. The industry is anticipated to witness substantial demand as renewable energy sources like wind and solar become more prevalent.
 

Air core fixed shunt reactors aid in managing the variability of power generation, ensuring consistent grid operation, complementing its deployment across renewable sources. Growing demand for electricity and the necessity to extend transmission networks to accommodate urbanization and industrialization will boost the industry landscape. They offer high efficiency and reliability in reactive power compensation, making them indispensable for modern power systems aiming for improved efficiency and stable operations.
 

Air Core Fixed Shunt Reactor Market Trends

Shifting power transmission and distribution along with integration of renewable energy sources necessitates reactive power compensation devices, thereby enhancing the grid stability. Technological product advancements improves the efficiency, thereby further augmenting the business landscape. Shifting focus of the emerging economies to prioritize grid modernization will strengthen the product penetration.
 

Air Core Fixed Shunt Reactor Market Analysis

The three-phase shunt reactors market held around 61% of the revenue share in 2023, on account of their superior grid stability and voltage regulation. These units serve as vital elements for contemporary power networks, fueled by grid modernization and renewable energy integration. Three-phase reactors offer improved efficiency and reliability in power transmission and distribution systems, thereby enabling superior voltage regulation and grid stability. Their resilience and capacity to manage reactive power fluctuations position them as essential components of modern power networks. Progression of grid modernization along with growing renewable energy incorporation will stimulate the demand for three-phase air core shunt reactors.
 

The air core fixed shunt reactor market is set to grow at a CAGR of over 5% through 2032, driven by the rising electric utility demands. Key factors comprising enhanced power quality, improved voltage regulation, and grid stabilization along with increasing renewable energy integration, the demand for air core fixed shunt reactors has surged. These reactors play a critical role in compensating reactive power, managing voltage levels, and ensuring grid stability. Ongoing global transition towards clean energy sources along with expansion of electricity infrastructure will encourage utilities to invest significantly in upgrading and expanding their reactive power compensation systems, thereby propelling the electric utility sector.
 

Asia Pacific air core fixed shunt reactor market revenue to cross USD 375 million by 2032, while increasing at growth rate of 6.5% through2032, owing to the growing energy demand across the developing nations. According to the IEA, over the last twenty years, the energy consumption in Southeast Asia has shown an average annual growth rate of approximately 3%, which is to grow in the coming years. Growing industrialization and urbanization along with rising requirement for grid stability and power quality management will contribute to the business scenario.
 

The reactors play a pivotal role in regulating voltage levels and compensating reactive power, thereby addressing the requirements effectively, thus complementing the overall Asia Pacific shunt reactor market growth. Moreover, increasing investments in renewable energy integration and grid modernization initiatives, will augment the demand for air core fixed shunt reactors across the Asia Pacific region.
 

Air Core Fixed Shunt Reactor Market Share

Siemens Energy dominates the air core fixed shunt reactor industry with its advanced technology and extensive industry experience. Its superior product quality, innovative designs, and commitment to customer satisfaction have solidified its position as a market leader. Through strategic partnerships and continuous research and development, Siemens Energy consistently delivers reliable solutions tailored to meet evolving market demands, thus maintaining its significant market share in the air core fixed shunt reactor sector.
 

Air Core Fixed Shunt Reactor Market Companies

Eminent players functioning across the air core fixed shunt reactor industry are:

• Coil Innovation
• GE
• GETRA S.p.A.
• Hilkar
• Hitachi Energy Ltd.
• HYOSUNG HEAVY INDUSTRIES
• MindCore Technologies
• NISSIN ELECTRIC Co.,Ltd.
• Phoenix Electric Corp.
• SGB SMIT
• Shrihans Electricals Pvt. Ltd.
• Siemens Energy
• TMC TRANSFORMERS MANUFACTURING COMPANY
• Toshiba Energy Systems & Solutions Corporation
   

Air Core Fixed Shunt Reactor Industry News

• In November 2021, Siemens received a supply contract for seven shunt reactors from a consortium consisting of esteemed energy solution providers N1, Konstant Net, and Nord Energi in Europe. This will further support the company to expand its market share by continuously delivering innovative solutions that enhance grid reliability and efficiency.
   
• In June 2021, Hitachi Energy, Ltd. introduced an innovative shunt reactor technology alongside various transformer technologies tailored for floating offshore wind power applications. This technology is specifically engineered to tackle challenges inherent to deepwater and harsh marine environments, thereby improving the operational efficiency. It supports significant achievement in the company's ongoing pursuit of sustainable energy solutions for offshore wind power.
   

This market research report on air core fixed shunt reactor 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 Phase

• Single phase
• Three phase

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