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Single Phase Shunt Reactor Market Trends

Report ID: GMI7402
Published Date: Nov 2023
Report Format: PDF

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Single Phase Shunt Reactor Market Trends

The single-phase shunt reactor industry is witnessing several noteworthy trends. Increasing integration of renewable energy sources into power grids is driving the demand for reactive power compensation, bolstering the adoption of single-phase shunt reactors. Technological advancements, including the development of more compact and efficient reactor designs, are enhancing their appeal for utilities seeking innovative solutions to optimize grid performance. Additionally, a heightened awareness of the importance of reactive power control for grid stability is influencing market dynamics, as utilities recognize the role of shunt reactors in managing voltage fluctuations and improving overall power system reliability.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of single phase shunt reactor was worth USD 760 Million in 2022 and is projected to grow at 6% CAGR through 2032, propelled by the increasing demand for electricity and power T&D infrastructure, particularly in developing regions.

The air core insulation segment is anticipated to witness 6.5% CAGR through 2032, driven by its offering of enhanced efficiency, reduced losses, and improved environmental sustainability.

Asia Pacific market for single-phase shunt reactor will showcase 6.5% growth rate up to 2032 on account of the to the dynamic expansion of the power sector and the increasing emphasis on enhancing grid reliability in the region.

General Electric, Toshiba, Hitachi Energy, Siemens Energy, WEG are some of the major industry contenders.