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Renewable Based Shunt Reactor Market Share

Report ID: GMI7479
Published Date: Nov 2023
Report Format: PDF

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Renewable Based Shunt Reactor Market Share

General Electric (GE) dominates the renewable based shunt reactor business with a major market share attributed to its innovative technologies and comprehensive solutions. GE's robust product portfolio, incorporating advanced variable shunt reactor designs tailored for renewable energy integration, has positioned the company as a frontrunner in the sector. Leveraging its expertise in grid solutions and renewable energy, GE offers tailored shunt reactor solutions that efficiently manage voltage fluctuations and reactive power flow, meeting the evolving demands of grid stability amidst the increasing adoption of renewable energy sources worldwide.

Some of the key market players operating across the renewable based shunt reactor industry are:

GE
Siemens Energy
Toshiba Energy Systems & Solutions Corporation
CG Power & Industrial Solutions Ltd.
Hitachi Energy Ltd.
HYOSUNG HEAVY INDUSTRIES
TMC TRANSFORMERS MANUFACTURING COMPANY
NISSIN ELECTRIC Co.,Ltd.
Fuji Electric Co., Ltd.
GBE S.p.A
WEG
SGB SMIT
GETRA S.p.A.
Shrihans Electricals Pvt. Ltd.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of renewable based shunt reactor crossed USD 600 million in 2022 and is expected to register over 10% CAGR from 2023 to 2032, due to the increasing integration of renewable energy sources into power grids worldwide.

Three-phase shunt reactor segment is expected to garner over 10.5% CAGR from 2023 to 2032, owing to the increasing integration of renewable energy sources into power grids.

Asia Pacific renewable based shunt reactor market size is expected to register over 10.5% CAGR from 2023 to 2032, due to the rapid transition towards renewable energy to address environmental concerns and meet escalating energy demands in the region.

GE, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., Hitachi Energy Ltd., TMC TRANSFORMERS MANUFACTURING COMPANY, and NISSIN ELECTRIC Co.,Ltd. are some of the major renewable based shunt reactor companies worldwide.