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Air Core Single Phase Shunt Reactor Market Size

Report ID: GMI11899
Published Date: Oct 2024
Report Format: PDF

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Air Core Single Phase Shunt Reactor Market Size

The global air core single phase shunt reactor market was valued at USD 571.8 million in 2023 and is estimated to grow at a CAGR of 6.9% from 2024 to 2032, driven by increasing demand for efficient power transmission, integration of renewable energy sources, adoption of smart grids, and the need for voltage stability. Investment in grid infrastructure upgrades, growing electricity consumption, and government modernization initiatives further propel market growth.

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Environmental considerations and demand for compact, low-maintenance solutions also contribute to market expansion. The U.S. Department of Energy reports that grid modernization efforts have led to the installation of over 103 million smart meters across the country, covering 75% of households, demonstrating the increasing adoption of advanced power management technologies. This trend underscores the market's potential as power systems continue to evolve and require more sophisticated reactive power compensation solutions.

Air Core Single Phase Shunt Reactor Market Report Attributes
Report Attribute	Details
Base Year:	2023
Air Core Single Phase Shunt Reactor Market Size in 2023:	USD 571.8 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.9%
2024 – 2032 Value Projection:	USD 1 Billion
Historical Data for:	2021-2023
No. of Pages:	70
Tables, Charts & Figures:	10
Segments covered:	Product, End Use
Growth Drivers:	Augmentation & modernization of transmission & distribution networks Rising demand for electricity Upgradation of aging technology in developed nations
Pitfalls & Challenges:	Development of alternate technologies

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size for air core single-phase shunt reactor was reached USD 571.8 million in 2023 and is estimated to grow at a 6.9% CAGR from 2024 to 2032, driven by the augmentation and modernization of transmission and distribution networks.

The fixed shunt reactor segment is projected to exceed USD 580 million by 2032, led by the increasing demand for efficient grid voltage management and the rising focus on renewable energy integration.

The renewable energy sector is fueling significant growth in the air core single-phase shunt reactor market, with a projected CAGR of over 10% through 2032, due to the increasing integration of renewable energy sources, such as wind and solar, which require advanced voltage regulation solutions to maintain grid stability.

The U.S. market for air core single-phase shunt reactor is expected to surpass USD 130 million by 2032, driven by renewable energy integration, grid modernization, and supportive government policies.

Major players in the air core single-phase shunt reactor industry include Coil Innovation, GETRA, GE, Hilkar, Hyosung Heavy Industries, Hitachi Energy, MindCore Technologies, Nissin Electric, Phoenix Electric Corp., Siemens Energy, Shrihans Electricals, SGB SMIT, Toshiba Energy Systems & Solutions Corporation, and TMC Transformers Manufacturing Company.