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Oil Immersed Shunt Reactor Market Trends

Report ID: GMI6686
Published Date: Sep 2023
Report Format: PDF

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Oil Immersed Shunt Reactor Market Trends

The oil-immersed shunt reactor market may witness significant growth up to 2032, impelled by growing emphasis on grid modernization and the integration of renewable energy sources into power systems. As electricity demand continues to rise globally, particularly in emerging economies, utilities are investing in grid infrastructure, providing opportunities for market growth. These trends collectively underscore the pivotal role of oil-immersed shunt reactors in optimizing power transmission and distribution networks for the future.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of oil immersed shunt reactor was reached USD 1.3 billion in 2023 and is anticipated cross USD 2.2 billion by 2032, owing to the expansion and modernization of power transmission and distribution networks.

Electric utility segment held a major market share of over 68% in 2022 and will continue to grow, backed by the rising global demand for electricity, and investments in upgrading their aging grid infrastructure.

Asia Pacific market for oil immersed shunt reactor is expected to witness a substantial growth at a CAGR of over 5.5% through 2032, owing to an increasing urbanization rate in many countries, leading to higher electricity consumption in urban areas.

CG Power & Industrial Solutions Ltd., WEG, Hitachi Energy Ltd., GETRA S.p.A., Fuji Electric Co., Ltd., TMC TRANSFORMERS MANUFACTURING COMPANY, HYOSUNG HEAVY INDUSTRIES, NISSIN ELECTRIC Co.,Ltd. and GE among others.