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Asia Pacific Three Phase Shunt Reactor Market Trends

Report ID: GMI8927
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Three Phase Shunt Reactor Market Trends

The Asia Pacific Three Phase Shunt Reactor industry is witnessing significant growth driven by factors such as increasing demand for electricity, grid modernization initiatives, and expansion of renewable energy infrastructure. In 2022, China experienced a remarkable surge in renewable energy capacity, reaching nearly 1.2 terawatts, indicating a growth rate of around 14% compared to the previous year, as reported by IRENA. Key trends include the adoption of advanced technologies for improved efficiency and reliability, rising focus on power quality enhancement, and the integration of smart grid solutions. Additionally, factors such as government regulations promoting energy efficiency and the need to mitigate voltage fluctuations are further propelling market expansion in the region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for three phase shunt reactor was reached USD 595.7 million in 2023 and is set to exhibit 8.2% CAGR until 2032, driven by rising demand for electricity.

APAC fixed three phase shunt reactors market is set to grow at 7.5% CAGR till 2032, driven by grid modernization initiatives and the expansion of renewable energy installations.

China three-phase shunt reactor market held a decent revenue share in 2023 and is set to surpass USD 575 million by 2032, driven by ambitious infrastructure development initiatives.

Alstom, CG Power & Industrial Solutions Ltd, Fuji Electric Co., Ltd., GE, HYOSUNG HEAVY INDUSTRIES, Hitachi Energy Ltd., NISSIN ELECTRIC Co.,Ltd. among others.