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Single Phase Variable Shunt Reactor Market Trends

Report ID: GMI11727
Published Date: Oct 2024
Report Format: PDF

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Single Phase Variable Shunt Reactor Market Trends

The single-phase variable shunt reactor industry is driven by technological advancements and evolving energy landscapes. Smart grid integration, renewable energy growth, and decentralized power systems are key factors boosting demand. Manufacturers focus on efficient, compact designs to meet regulatory standards and consumer expectations, thus proliferating the business landscape across the globe.

Utility companies are investing in advanced voltage control systems due to increasing energy efficiency awareness. For instance, State Grid Corporation of China announced plans to invest USD 350 billion in power grid infrastructure between 2021 and 2025, with a significant portion allocated to smart grid technologies and advanced power management solutions. This massive investment underscores the growing importance of technologies like single-phase variable shunt reactors in supporting grid stability and voltage regulation in rapidly developing energy markets across Asia Pacific.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The global market for single-phase variable shunt reactors was reached USD 336.2 million in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2032, driven by the increasing demand for efficient voltage regulation in power transmission systems.

The market for oil-immersed shunt reactors is expected to surpass USD 390 million by 2032, attributed to the rising demand for efficient voltage regulation in power transmission systems and the increasing integration of renewable energy sources.

The renewable energy segment is anticipated to grow at a CAGR of over 10% through 2032, due to the increasing integration of renewable energy sources, which necessitate effective voltage regulation to manage fluctuating power outputs.

The U.S. single-phase variable shunt reactor market is expected to surpass USD 50 million by 2032, propelled by the need for efficient voltage regulation and the integration of renewable energy sources.

Prominent players in the single-phase variable shunt reactor market include Coil Innovation, GE, GETRA, Hilkar, Hitachi Energy, Hyosung Heavy Industries, MindCore Technologies, Nissin Electric, Phoenix Electric, SGB SMIT, Shrihans Electricals, Siemens Energy, TMC Transformers, and Toshiba Energy Systems & Solutions.