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Asia Pacific Utility Scale Shunt Reactor Market Size

Report ID: GMI11487
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific Utility Scale Shunt Reactor Market Size

Asia Pacific utility scale shunt reactor market size was valued at USD 669.5 million in 2023 and is expected to grow at a CAGR of 5.8% from 2024 to 2032. This growth is driven by increasing demand for reliable electricity infrastructure, rapid integration of renewable energy sources, government initiatives for power generation expansion, and ongoing grid modernization projects.

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Rising urbanization and industrialization in China, India, and Southeast Asia fuel the need for efficient transmission and distribution systems. The integration of wind and solar power necessitates reactive power compensation to stabilize voltage fluctuations and enhance grid efficiency.

Asia Pacific Utility Scale Shunt Reactor Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Utility Scale Shunt Reactor Market Size in 2023:	USD 669.5 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.8%
2032 Value Projection:	USD 1.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	50
Tables, Charts & Figures:	10
Segments covered:	Insulation, Product and Phase
Growth Drivers:	Augmentation & modernization of transmission & distribution networks Rising demand for electricity Upgradation of aging technology in developed nations High voltage transmission lines addition
Pitfalls & Challenges:	Development of alternate technologies Low quality products

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Government investments in upgrading aging transmission networks further propel market growth. The Indian government's ambitious target to achieve 500 GW of renewable energy capacity by 2030, as announced by the Ministry of New and Renewable Energy, exemplifies the region's commitment to clean energy integration, which in turn drives the demand for shunt reactors to manage grid stability.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific utility scale shunt reactor industry was valued at USD 669.5 million in 2023 and is expected to grow at a CAGR of 5.8% through 2032, driven by increasing demand for reliable electricity infrastructure, and rapid integration of renewable energy sources.

The three-phase segment of Asia Pacific utility scale shunt reactor market is expected to top USD 750 million by 2032, driven by the increasing need for efficient voltage control in high-capacity transmission networks, particularly as the region ramps up renewable energy integration.

China utility-scale shunt reactor market is projected to surpass USD 530 million by 2032, owing to extensive investments in power transmission infrastructure to support rapid urbanization and industrial expansion.

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