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North America Fixed Shunt Reactor Market Size
- Report ID: GMI9382
- Published Date: May 2024
- Report Format: PDF
North America Fixed Shunt Reactor Market Size
North America Fixed Shunt Reactor Market size was valued at USD 232.3 million in 2023 and is projected to grow at a CAGR of 6.2% between 2024 and 2032, supported by demand for electricity, and grid stability enhancement initiatives. For instance, Canada has allocated USD 100 million via its Smart Grid Program to bolster the implementation of smart grid technologies and integrated smart systems in 2022. With focus on improving power transmission efficiency and reducing network losses, utilities and grid operators are increasingly deploying fixed shunt reactors in their networks. Additionally, stringent regulatory standards regarding power quality and reliability further bolster market size.
Moreover, technological advancements in reactor design and manufacturing processes, coupled with integration of smart grid solutions, are enhancing performance and efficiency of products. Furthermore, region's strong industrial base and growing renewable energy integration initiatives contribute to market expansion. Major players in market are focusing on strategic collaborations, product innovations, and capacity expansions to gain a competitive edge in burgeoning market landscape.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Fixed Shunt Reactor Market Size in 2023: | USD 232.3 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 6.2% |
| 2032 Value Projection: | USD 402.5 Million |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 90 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Phase, Insulation and End Use |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
North America Fixed Shunt Reactor Market Scope
