Home > Energy & Power > Electrical Equipment > Shunt Reactors > Shunt Reactor Market

Shunt Reactor Market Trends

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

Download Free Sample

Shunt Reactor Market Trends

The shunt reactor market is witnessing several notable trends that are shaping its trajectory. The increasing integration of renewable energy sources into power grids is driving the need for improved grid stability and voltage control. Shunt reactors play a vital role in managing reactive power and maintaining voltage levels, making them essential for accommodating the fluctuations inherent in renewable energy generation. Additionally, the advancements in smart grid technology are leading to the deployment of intelligent shunt reactors that can dynamically adjust their reactive power compensation based on real-time grid conditions.

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.