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Asia Pacific Shunt Reactor Market Trends

Report ID: GMI6757
Published Date: Sep 2023
Report Format: PDF

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Asia Pacific Shunt Reactor Market Trends

Asia Pacific shunt reactor market has witnessed several notable trends in recent years. One key trend is the growing emphasis on grid stability and the integration of renewable energy sources into power grids. As countries in the region increasingly adopt renewable energy technologies, the need for shunt reactors to mitigate voltage fluctuations and maintain grid reliability has surged. Moreover, the demand for high-voltage shunt reactors has risen with the expansion of ultra-high voltage (UHV) transmission networks in countries like China and India, aiming to transmit power over long distances with reduced losses.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of shunt reactor in APAC was worth USD 992.12 million in 2023 and is anticipated to reach over USD 1.9 billion by 2032, owing to burgeoning demand for electricity, fueled by urbanization, industrialization, and population growth.

Electric utility has been driving the product demand over the years and held a market share of over 70% in 2022, due to their critical need for grid stability and voltage control in the face of surging electricity demand.

China shunt reactor market is expected to witness a substantial growth at a CAGR of over 7.5% through 2032, owing to a substantial increase in electricity consumption, necessitating the expansion and upgrade of the country's power transmission & distribution infrastructure.

Fuji Electric Co., Ltd., HYOSUNG HEAVY INDUSTRIES, CG Power & Industrial Solutions Ltd., GE, SGB SMIT, WEG, Hitachi Energy Ltd., Toshiba Energy Systems & Solutions Corporation, and TBEA among others.