Single Phase Variable Shunt Reactor Market, By Insulation, By End Use, Growth Forecast 2024 – 2032

Single Phase Variable Shunt Reactor Market Size

The global single phase variable shunt reactor market size was valued at USD 336.2 million in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2032. The evolution in the design and construction of electric networks call for improved voltage regulation in power flow circuits. As the renewable energy sources develop, they will require significantly enhanced voltage control. Heightened attention to improving energy efficiency and power quality is driving interest in new reactor technology.
 

The development of the market is aided by governmental initiatives for infrastructure development and energy development. The office of grid deployment within the U.S. Department of Energy announced in 2023 a USD 10.5 billion funding initiative set to increase the resilience and efficiency of the power grid systems, which in return may increase the consumption of voltage regulation technologies, including shunt reactors. Further, the growing network of charging stations for electric vehicles will require more effective regulation of power use, which will also enhance the opportunities for single phase variable shunt reactors.
 

Single Phase Variable Shunt Reactor Market Trends

The single-phase variable shunt reactor industry is expanding due to the advancement of technology and changes in energy systems. The integration of smart grids, increase in renewable energy resources, and growth of distributed generation is driving the trend. To comply with the latest regulations and customer requirements, manufacturers are investing in effective and compact models, which in turn stimulates the growth of the business around the world.
 

The increasing awareness regarding energy efficiency has encouraged utility companies to begin investing in modern voltage control systems. For instance, between 2021 and 2025, the State Grid Corporation of China intends to invest USD 350 billion in the infrastructure of power grid which power management systems seem to account for a large part of such spending. Such investment signifies the high demand of single-phase variable shunt reactors, as other technologies are needed to ensure the proper stability and regulation of the voltage when the power market in Asia Pacific is maturing.
 

Single Phase Variable Shunt Reactor Market Analysis

The market for the single-phase variable shunt reactor, particularly oil-immersed shunt reactors segmnet is forecasted to reach over USD 390 million by 2032. This development is attributed to several factors such as the need of using efficient techniques of voltage control in power transmission systems and the increased use of renewable energy. These types of reactors are favored in most applications due to their enhanced thermal performance and better reliance. Additionally, the growing investment in smart grid technology and other infrastructure development projects is driving the growth of the market. Oil-immersed shunt reactors are likely to be one of the solutions that the utilities industry will use to strengthen the grid and lessen the energy loss problems.
 

The renewable energy segment of single phase variable shunt reactor market is projected is forecasted to grow more than 10% CAGR through 2032. Key drivers of this growth are the electric utilities that have increased integration of renewable energy sources that require high voltage regulation due to the increased variability in power outputs. In addition, increasing investment in sustainable energy infrastructure, together with government incentives for clean energy adoption, is increasing demand. With rising needs for proper management of wind and solar power solutions, the renewable energy sector of the shunt reactor market niche is experiencing rapid growth.
 

The U.S. single-phase variable shunt reactors market is projected to surpass USD 50 million by 2032. One of the key factors contributing to this is the need for better voltage management as well as incorporation of renewable power sources. As the U.S. incorporates wind and solar energies into its power mix, effective power management will be needed. Additionally, government programs for infrastructure development and smart grid projects increase US market development opportunities.
 

As per the U.S. Department of Energy, connected wind power generation increased by 12 % in 2022, implying a requirement of new developments in voltage control. The demand from utilities to reduce energy losses while improving grid stability is driving the development and deployment of new advances in shunt reactor technologies, which will ensure that the market continues to thrive.
 

Due to rapid industrial growth and expansion in energy consumption, the single-phase variable shunt reactor market in the Asia Pacific region is set to expand greatly. There is also increased investment towards renewable sources of energy which is especially seen in China and India and this coupled with the rising need from these countries for efficient power quality management solutions is expected to spur growth. Moreover, government policies focusing on infrastructure and power system of the country create additional avenues for the market. Due to the emphasis put by utilities on effective management of the grid, the trend towards using shunt reactors in the region is predicted to continue growing.
 

Single Phase Variable Shunt Reactor Market Share

General Electric holds a notable share with regards to the single-phase variable shunt reactor industry by utilizing its power management technologies. The company’s development of new technologies improves voltage regulation and grid stability in order to satisfy the excessive demands of utilities and other alternative energy projects. The drive for enhancement and effectiveness also boosts their market share relative to this segment.
 

Single Phase Variable Shunt Reactor Market Companies

Some of the key market players operating across the single phase variable shunt reactor industry are:

• Coil Innovation
• GE
• GETRA
• Hilkar
• Hitachi Energy
• Hyosung Heavy Industries
• MindCore Technologies
• Nissin Electric
• Phoenix Electric
• SGB SMIT
• Shrihans Electricals
• Siemens Energy
• TMC Transformers
• Toshiba Energy Systems & Solutions
   

Single Phase Variable Shunt Reactor Industry News

• Hitachi Energy received an important contract from Svenska kraftnät to improve Sweden's power system in August 2024. They are expected to provide transformers and shunt reactors which are critical in maintaining the voltage balance and increasing the proficiency of the grid. This enhancement promotes Sweden's transition to renewable energy sources while also addressing the rising energy needs. Hitachi Energy's technology is pivotal to the improvement of Sweden's power system.
   
• In June 2021, Hitachi Energy (previously known as Hitachi ABB Power Grids) introduced new floating offshore wind power shunt reactor and transformer technologies. These technologies provide solutions for deep water and rough seas where old models perform poorly. This step enhanced Hitachi Energy’s position in the offshore market and advanced their wind power green energy initiatives.
   

This single phase variable shunt reactor market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Insulation

• Oil immersed
• Air core

Market, By End Use

• Electric utility
• Renewable energy

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
• Latin America
  • Brazil
  • Argentina