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Asia Pacific Single Phase Shunt Reactor Market Trends

Report ID: GMI11433
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Single Phase Shunt Reactor Market Trends

The Asia-Pacific single-phase shunt reactor market is growing rapidly due to increased investments in power grid modernization and the expansion of renewable energy sources. Countries like China, India, and Japan are leading in renewable infrastructure deployment, necessitating efficient voltage control solutions like shunt reactors. For instance, according to the National Development and Reform Commission of China, the country invested over USD 100 billion in renewable energy projects in 2023.

The push for energy efficiency and reduced transmission losses is driving utilities to adopt advanced technologies. Additionally, the integration of smart grids and the demand for energy stability in urban and industrial regions are further propelling the market. Government policies supporting clean energy, rising electricity consumption, and efforts to strengthen transmission and distribution networks are shaping the market's trajectory across the region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific single phase shunt reactor industry was valued at USD 396.4 billion in 2023 and will register a 6.7% CAGR from 2024

The fixed single-phase shunt reactor segment will surpass USD 400 million by 2032. Fixed shunt reactors are increasingly preferred due to their ability to provide consistent voltage regulation and reduce transmission losses, ensuring grid stability.

China single phase shunt reactor industry is set to exceed USD 340 million by 2032, ushered by expanding power grid infrastructure and rising electricity demand.

Hitachi Energy, Hyosung Heavy Industries, Nissin Electric, Siemens Energy, Shrihans Electricals, and Toshiba, among others.