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Asia Pacific Oil Immersed Shunt Reactor Market Trends

Report ID: GMI6955
Published Date: Oct 2023
Report Format: PDF

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Asia Pacific Oil Immersed Shunt Reactor Market Trends

There is a growing emphasis on grid stability and voltage control as the region continues to expand its power infrastructure to meet increasing electricity demand. Shunt reactors are becoming integral components in enhancing power quality and transmission efficiency. Environmental concerns are pushing the market towards eco-friendly and energy-efficient shunt reactor designs. Many countries in the Asia Pacific region are investing in grid modernization to improve the reliability and efficiency of their power transmission and distribution networks. This includes the installation of shunt reactors to enhance voltage control. Furthermore, cross-border interconnection projects are on the rise in the Asia Pacific region to enhance regional grid connectivity and energy exchange, leading to increased demand for shunt reactors to support these initiatives.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for oil immersed shunt reactor was exceeded USD 608.7 million in 2023 and is projected to witness over 5.9% CAGR from 2024 to 2032, due to the increasing demand for electricity in the region driven by rapid industrialization and urbanization.

Demand for oil immersed fixed shunt reactors reached over USD 360 million in 2022 and will record over 5% CAGR up to 2032, owing to advantages, such as simplicity, reliability, minimal maintenance and prolonged service life.

China oil immersed shunt industry size is poised to witness over 5.5% CAGR through 2032, due to the rapid urbanization and industrialization along with the substantial increase in electricity demand across the nation.

Some of the prominent oil immersed shunt reactor market players include GE, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, and TMC TRANSFORMERS MANUFACTURING COMPANY.