Home > Energy & Power > Electrical Equipment > Shunt Reactors > Oil Immersed Three Phase Shunt Reactor Market
Oil Immersed Three Phase Shunt Reactor Market Size
- Report ID: GMI11864
- Published Date: Oct 2024
- Report Format: PDF
Oil Immersed Three Phase Shunt Reactor Market Size
The global oil immersed three phase shunt reactor market size was valued USD 1.1 billion in 2023 and is estimated to grow at a CAGR of 7.1% from 2024 to 2032. This growth is driven by rising demand for grid stability and energy efficiency across power transmission networks.
Growing investments in upgrading and expanding aging power infrastructure across various nations are boosting the market growth. For instance, the U.S. Department of Energy reported a 12% increase in grid modernization investments in 2022, highlighting the growing focus on power infrastructure enhancement. Moreover, shift toward higher voltage levels in power networks is driving the demand for advanced oil-immersed reactors, which offer enhanced cooling and insulation. As transmission lines are extended to support growing integration of renewable energy, shunt reactors are essential for regulating voltage levels and reducing reactive power losses. However, the market faces challenges from volatile raw material costs and environmental concerns associated with the use of oil in these reactors.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Oil Immersed Three Phase Shunt Reactor Market Size in 2023: | USD 1.1 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 7.1% |
| 2032 Value Projection: | USD 2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 70 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Product, End Use |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Oil Immersed Three Phase Shunt Reactor Market Scope
