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Shunt Reactor Market Share

Report ID: GMI6614
Published Date: Sep 2023
Report Format: PDF

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Shunt Reactor Market Share

Major participants in the shunt reactor market include:

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
GBE S.p.A
WEG
HICO America
SGB SMIT
GETRA S.p.A
Shrihans Electricals Pvt. Ltd.

These companies are engaging in strategic partnership, collaborations and joint ventures with component manufacturers or other small scale manufacturers to gain a competitive edge in the industry.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of shunt reactor was exceeded USD 2.1 billion in 2023 and will be worth over USD 3.9 billion by 2032, driven by the rising global demand for electricity on account of the surging population growth, urbanization, and industrialization.

Three phase shunt reactor market size is anticipated to witness over 7.5% CAGR from 2023 to 2032, owing to the growing number of government initiatives and regulations focused on improving power system efficiency, reducing losses, and promoting renewable energy integration.

Demand for oil immersed shunt reactors surpassed USD 1.2 billion in 2022 and is poised to reach more than USD 2.4 billion by 2032, due to surging need for reducing noise levels generated during operations.

Asia Pacific shunt reactor market size is expected to witness over 7.5% CAGR from 2023 to 2032, owing to the substantial increase in energy consumption in the region.