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Oil Immersed Fixed Shunt Reactor Market Trends

Report ID: GMI8098
Published Date: Feb 2024
Report Format: PDF

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Oil Immersed Fixed Shunt Reactor Market Trends

The oil-immersed fixed shunt reactor industry is projected to observe substantial expansion shaping its trajectory including the growing deployment of low carbon energy sources into power grids necessitates efficient reactive power compensation solutions such as fixed shunt reactors to ensure grid reliability. For instance, according to REN 21, between 2012 and 2022, the proportion of renewables in Asia's electricity composition surged by 10%, climbing from 17% to 27%, primarily propelled by the escalation in solar and wind power generation.

Moreover, technological advancements such as the development of advanced materials, insulation techniques, and digital monitoring systems are enhancing the efficiency and performance of oil-immersed fixed shunt reactors, further driving their adoption.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of oil immersed fixed shunt reactor reached USD 791.8 million in 2023 and is set to witness 5.6% CAGR through 2032, led by the increasing demand for electricity, particularly across the emerging economies.

Electric utility segment is projected to record a CAGR of over 4% through 2032, favored by the efficiency and reliability of their power transmission and distribution networks.

Asia Pacific market was valued at USD 585 million revenue by 2032, attributed to rapid industrialization and urbanization in countries like China and India.

CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd., GBE S.p.A, GE, GETRA S.p.A., Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, NISSIN ELECTRIC Co., Ltd., Shrihans Electricals Pvt. Ltd., Siemens Energy, SGB SMIT, TMC TRANSFORMERS MANUFACTURING COMPANY, Toshiba Energy Systems & Solutions Corporation, and WEG.