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Oil Immersed Three Phase Shunt Reactor Market Trends

Report ID: GMI11864
Published Date: Oct 2024
Report Format: PDF

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Oil Immersed Three Phase Shunt Reactor Market Trends

The oil-immersed three-phase shunt reactor market is experiencing notable trends driven by the global shift toward renewable energy integration and modernization of power grids. Also, rise in wind and solar energy adoption is boosting demand for shunt reactors to stabilize voltage and improve power quality. For instance, as per the U.S. Energy Administration, in first half of 2022, renewable sources contributed 24% of U.S. electricity generation, led by wind and solar power. Moreover, technological advancements are enabling the development of more efficient and compact reactors, which are gaining popularity due to space constraints and cost considerations, shaping a positive future outlook.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The global oil-immersed three-phase shunt reactor industry was valued at USD 1.1 billion in 2023 and is estimated to grow at a 7.1% CAGR from 2024 to 2032, driven by rising demand for grid stability and energy efficiency.

The fixed shunt reactors segment is projected to exceed USD 1.1 billion by 2032, as they dominate the market and benefit from the integration of smart technology for real-time monitoring and diagnostics.

The U.S. oil-immersed three-phase shunt reactor industry is projected to exceed USD 250 million by 2032, driven by a focus on grid modernization and renewable energy integration.

Key players in the industry include CG Power & Industrial Solutions, Fuji Electric, GE, GBE, GETRA, Hyosung Heavy Industries, Hitachi Energy, Nissin Electric, and Shrihans Electricals.