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Asia Pacific Fixed Shunt Reactor Market Trends

Report ID: GMI8878
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Fixed Shunt Reactor Market Trends

The Asia Pacific market for fixed shunt reactor is witnessing steady growth due to increasing demand for electricity, driven by urbanization and industrialization. With a focus on improving power quality and grid stability, utilities are investing in infrastructure upgrades, including the installation of fixed shunt reactors. Additionally, renewable energy integration and the expansion of transmission networks are further propelling market growth.

According to IRENA, China's renewable energy capacity surged to almost 1.2 terawatts in 2022, marking a growth of approximately 14 percent compared to the preceding year. Key trends include the adoption of advanced technologies for efficient operation and the emergence of smart grid initiatives. Overall, the market is poised for continuous expansion in the Asia Pacific region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific fixed shunt reactor was reached USD 571.7 million in 2023 and is set to exhibit a 5.9% CAGR until 2032, driven by increasing demand for electricity, which necessitates grid stabilization measures.

Asia Pacific three-phase fixed shunt reactors market is set to reach USD 640 million by 2032, fueled by rising needs for voltage stabilization and reactive power compensation solutions.

China fixed shunt reactor market held a decent share in 2023 and is poised to exceed USD 450 million by 2032, driven by the need to enhance of power transmission infrastructure.

Alstom, CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd., General Electric, GBE S.p.A, HYOSUNG HEAVY INDUSTRIES, Hitachi Energy Ltd., NISSIN ELECTRIC Co.,Ltd., SGB SMIT, Siemens Energy among others.