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Single Phase Fixed Shunt Reactor Market Trends

Report ID: GMI8311
Published Date: Feb 2024
Report Format: PDF

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Single Phase Fixed Shunt Reactor Market Trends

The industry is experiencing notable growth owing to the expanding power infrastructure, particularly in emerging economies. Additionally, technological advancements in digital monitoring and control systems enable better real-time management of reactive power in power systems. Furthermore, regulatory initiatives emphasizing grid modernization and reliability further propel market growth. As industries and utilities focus on enhancing power quality and reducing losses, the single-phase shunt reactor market is poised for continuous expansion.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of single phase fixed shunt reactor was reached USD 485.6 million in 2023 and is expected to register over 5.1% CAGR from 2024 to 2032, owing to rising deployment of renewable energy sources including wind and solar into the grid, necessitating reactive power compensation worldwide.

The oil immersed segment held over 60% share of single phase fixed shunt reactor market in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to providing effective insulating windings, excellent dielectric properties, and prevention of electrical breakdowns.

Asia Pacific single phase fixed shunt reactor industry is expected to cross USD 340 million by 2032, due to rapid industrialization and urbanization, elevating electricity demand and necessitating infrastructure reinforcement in the region.

CG Power & Industrial Solutions Ltd., Fuji Electric Co., Ltd., GBE S.p.A, GE, GETRA S.p.A., HICO America, Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, NISSIN ELECTRIC Co., Ltd., and SGB SMIT, are some of the major single phase fixed shunt reactor companies worldwide.