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Oil Immersed Variable Shunt Reactor Market Trends

Report ID: GMI11525
Published Date: Sep 2024
Report Format: PDF

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Oil Immersed Variable Shunt Reactor Market Trends

The oil-immersed variable shunt reactor industry is driven by several factors. Environmental regulations push for eco-friendly designs. Digital technologies enhance operational efficiency. Manufacturers improve reactor reliability through advanced materials. The growing trend of hybrid power systems increases demand for shunt reactors. According to the International Energy Agency, global electricity demand is projected to grow by 2.4% annually from 2022 to 2024, necessitating robust transmission infrastructure. This growth fuels investments in transmission networks, especially in emerging economies, driving market expansion and the need for effective reactive power solutions.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of oil immersed variable shunt reactor reached USD 548.3 million in 2023 and is set to grow at 7.9% CAGR through 2032, owing to the investments in transmission infrastructure.

The three-phase shunt segment is projected to exceed USD 700 million by 2032, driven by the increasing integration of renewable energy sources.

Asia Pacific market is projected to surpass USD 590 million by 2032, due to rapid urbanization and industrialization.

CG Power & Industrial Solutions, Fuji Electric, GBE, GE, GETRA, Hitachi Energy, Hyosung Heavy Industries, Nissin Electric, SGB SMIT, Shrihans Electricals, Siemens Energy, and TMC Transformers Manufacturing Company.