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Air Core Shunt Reactor Market Trends

Report ID: GMI7254
Published Date: Nov 2023
Report Format: PDF

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Air Core Shunt Reactor Market Trends

The air core shunt reactor industry is witnessing several notable trends. One significant trend is the increasing deployment of air core reactors in power systems, driven by their environmental advantages as they eliminate the need for environmentally-harmful insulating oils. Additionally, the global shift towards renewable energy sources, such as wind and solar power, is boosting the demand for air core shunt reactors, which play a vital role in integrating these intermittent energy sources by providing reactive power support. As grid modernization efforts continue, there is a growing emphasis on grid stability and voltage regulation, further propelling the adoption of air core reactors.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of air core shunt reactor was surpassed USD 700 million in 2022 and is estimated to expand at over 8.5% CAGR from 2023 to 2032, owing to the rising demand for enhanced power system stability and voltage regulation driven by the increasing electricity consumption.

Three-phase air core shunt reactor market size is estimated to witness over 10.5% CAGR from 2023 to 2032, driven by increasing adoption for grid stability and to enhance the power quality in modern power systems.

Asia Pacific market for air core shunt reactors is set to exhibit over 10% growth rate from 2023 to 2032, attributed to the rising need for electricity in the region due to the rapid urbanization, industrialization, and the growing population.

Some of the key air core shunt reactor providers are GE, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, Hitachi Energy Ltd., TMC TRANSFORMERS MANUFACTURING COMPANY, NISSIN ELECTRIC Co., Ltd., Phoenix Electric Corp., MindCore Technologies, and GETRA S.p.A.