Home > Energy & Power > Electrical Equipment > Shunt Reactors > Asia Pacific Single Phase Shunt Reactor Market
Asia Pacific Single Phase Shunt Reactor Market Size
- Report ID: GMI11433
- Published Date: Sep 2024
- Report Format: PDF
Asia Pacific Single Phase Shunt Reactor Market Size
Asia Pacific Single Phase Shunt Reactor Market size was valued at USD 396.4 Million in 2023 and is expected to grow at a CAGR of 6.7% between 2024 and 2032. Urbanization and industrialization in emerging economies like India and China are driving the market.
The expansion of renewable energy infrastructure, such as solar and wind power, increases the need for shunt reactors to stabilize voltage fluctuations. Government initiatives to modernize aging power grids and investments in upgrading transmission and distribution networks further fuel market growth. For instance, India's Ministry of Power announced a $5 billion investment in 2023 to upgrade its transmission network.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Single Phase Shunt Reactor Market Size in 2023: | USD 396.4 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 6.7% |
| 2024 – 2032 Value Projection: | USD 718.7 Million |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 50 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Insulation, Product and End Use |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Rising energy efficiency standards and the integration of smart grids are also promoting the adoption of advanced electrical equipment, including single-phase shunt reactors, to optimize energy usage. Additionally, a focus on energy security and reducing transmission losses contributes to the market's expansion.
Frequently Asked Questions (FAQ) :
Asia Pacific Single Phase Shunt Reactor Market Scope
