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North America Three Phase Shunt Reactor Market Trends

Report ID: GMI9217
Published Date: Apr 2024
Report Format: PDF

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North America Three Phase Shunt Reactor Market Trends

In North America three phase shunt reactor industry, significant trends are influencing the industry landscape. Increasing focus on grid modernization efforts, spurred by imperative to improve grid stability and reliability which includes integration of advanced technologies augments the market growth. In addition, a rising priority lies in integrating renewable energy sources, as utilities strive to accommodate the expanding presence of renewable generation on their grids.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America three phase shunt reactor was valued at USD 253.4 million in 2023 and will grow at 6.2% CAGR between 2024 and 2032, driven by increasing demand for electricity.

North America fixed three phase shunt reactor market recorded steady growth in 2023 and will surpass USD 244 million by 2032, led by the increasing demand for grid stability.

U.S. three phase shunt reactor market held a decent share in 2023 and is set to exceed USD 315 million by 2032, owing to the need to maintain voltage stability.

ALSTOM SA, ABB, CG Power & Industrial Solutions Ltd., Elgin Power Solutions, General Electric, HICO America, Hyosung Heavy Industries, Hitachi Energy Ltd., and SGB SMIT among others.