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Air Core Three Phase Shunt Reactor Market Size
- Report ID: GMI11890
- Published Date: Oct 2024
- Report Format: PDF
Air Core Three Phase Shunt Reactor Market Size
The global air core three phase shunt reactor market was valued USD 211.9 million in 2023 and is estimated to grow at a CAGR of 9.8% from 2024 to 2032. This growth is driven by increasing power infrastructure investments, demand for efficient grid management, and rising electricity consumption. The shift to renewable energy sources necessitates improved grid stability, enhancing the need for shunt reactors to manage reactive power.
Expansion of transmission and distribution networks, particularly in emerging economies, fuels demand. According to the International Energy Agency, global electricity demand grew by 6% in 2021, the largest ever annual increase in absolute terms. Air core designs are preferred due to lower losses and reduced maintenance compared to oil-immersed alternatives, making them crucial in smart grids. Regulatory mandates for energy efficiency and cost reduction trends further support market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Air Core Three Phase Shunt Reactor Market Size in 2023: | USD 211.9 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 9.8% |
| 2032 Value Projection: | USD 495.9 Million |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 70 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Product, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Air Core Three Phase Shunt Reactor Market Scope
