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North America Shunt Reactor Market Size
- Report ID: GMI7297
- Published Date: Nov 2023
- Report Format: PDF
North America Shunt Reactor Market Size
North America Shunt Reactor Market was valued at USD 340 million in 2022 and is likely to showcase CAGR of 5.6% from 2032 to 2032. The increasing demand for electricity and the need to maintain grid stability and voltage regulation in the power transmission and distribution networks contribute to market growth. For instance, as per U.S. Energy Information Administration (EIA), the net generation in U.S. by renewable sources in 2021 equaled over 563,682 thousand MWh, which is over 190% more than the net generation in 2011
Additionally, aging infrastructure and the need for grid modernization projects drive the replacement and installation of shunt reactors. Moreover, the growing emphasis on energy efficiency and reducing power losses in transmission and distribution systems further propels market expansion. As North America continues to evolve its power infrastructure and address grid challenges, the market is expected to witness sustained growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| North America Shunt Reactor Market Size in 2022: | USD 347.2 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.6% |
| 2032 Value Projection: | USD 604.9 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 102 |
| Segments covered: | Phase, Insulation, Product, End Use |
| Growth Drivers: |
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North America Shunt Reactor Market Scope
