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Air Core Single Phase Shunt Reactor Market Trends

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

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Air Core Single Phase Shunt Reactor Market Trends

The air core single-phase shunt reactor industry is driven by several key trends. Smart grid technology and digital substation adoption are enhancing grid stability and efficiency. Renewable energy integration, particularly wind and solar power, is increasing demand for shunt reactors to balance voltage fluctuations. The U.S. Department of Energy reports that in 2021, renewable energy sources accounted for about 20% of utility-scale electricity generation, highlighting the growing need for grid stabilization technologies like shunt reactors.

Manufacturers are focusing on compact, lightweight designs suitable for urban environments and renewable energy plants. Technological advancements in materials, such as high-temperature superconductors and improved insulation techniques, are boosting reactor performance and longevity. Sustainable energy solutions and grid modernization efforts in developing regions are further accelerating market growth.

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.