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Three Phase Fixed Shunt Reactor Market Trends

Report ID: GMI8047
Published Date: Feb 2024
Report Format: PDF

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Three Phase Fixed Shunt Reactor Market Trends

The increasing adoption of renewable energy sources, such as solar and wind power, is one of the prominent factor driving the need for reactive power compensation solutions to maintain grid stability and voltage regulation. Additionally, the growing emphasis on energy efficiency and grid modernization initiatives is propelling the demand for fixed shunt reactors to enhance power transmission and distribution infrastructure. Despite these influx of investments across smart grid technologies and digitalization is facilitating the integration of fixed shunt reactors into advanced monitoring and control systems, optimizing their operation, and enhancing overall grid resilience.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of three phase fixed shunt reactor was reached at USD 769.4 million in 2023 and is set to grow at a CAGR of 6.6% through 2032, owing to the rising demand for electricity, driven by urbanization, industrialization, and infrastructure development.

Oil immersed shunt reactors is anticipated to witness 6% CAGR from 2024 to 2032, due to their superior cooling capability compared to dry-type reactors.

Asia Pacific market for three-phase fixed shunt reactors is witnessing remarkable growth, projected to achieve a CAGR of 6% through 2032, favored by the rapid pace of industrialization and urban development.

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. among others.