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Oil Immersed Single Phase Shunt Reactor Market Size
- Report ID: GMI11963
- Published Date: Oct 2024
- Report Format: PDF
Oil Immersed Single Phase Shunt Reactor Market Size
The global oil immersed single phase shunt reactor market was valued at USD 249.9 million in 2023 and is estimated to grow at a CAGR of 4.1% from 2024 to 2032, driven by the demand for efficient power transmission, integration of renewable energy, and grid voltage stabilization for long-distance high-voltage lines. Rising electricity consumption in emerging economies spurs grid infrastructure investments, promoting shunt reactor adoption.
Grid modernization and government initiatives to reduce transmission losses further support market growth. For instance, the U.S. DOE reported that efforts toward grid modernization activities have led to a 30% reduction in power outages since 2015, highlighting the impact of such initiatives. The expansion of renewable energy systems, requiring reactive power compensation, also increases demand for oil-immersed shunt reactors, particularly in Asia-Pacific, Europe, and North America.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Oil Immersed Single Phase Shunt Reactor Market Size in 2023: | USD 249.9 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.1% |
| 2032 Value Projection: | USD 361.4 Million |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 70 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Product, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil Immersed Single Phase Shunt Reactor Market Scope
