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Renewable Based Shunt Reactor Market Trends

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

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Renewable Based Shunt Reactor Market Trends

Recent trends in the renewable-based shunt reactor industry highlight a shift towards enhanced grid stability and efficiency in tandem with the exponential growth of renewable energy installations. There's a notable surge in demand for shunt reactors due to the intermittent nature of renewable sources like solar and wind, necessitating effective voltage regulation and power quality management. Innovations in shunt reactor technologies, focusing on improved efficiency and scalability, are gaining traction to accommodate varying power flows from renewables. Additionally, market players are increasingly emphasizing environmentally sustainable solutions, aligning with the overall green energy transition, which is shaping the trajectory of the renewable based shunt reactor industry.

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.