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Three Phase Shunt Reactor Market Trends

Report ID: GMI6652
Published Date: Sep 2023
Report Format: PDF

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Three Phase Shunt Reactor Industry Trends

The three phase shunt reactor market has witnessed several notable trends in recent years. The growing demand for electricity in emerging economies, coupled with the need to upgrade and modernize aging power infrastructure in developed regions, has driven investments in three phase shunt reactors for grid enhancement. In addition, the shift towards smart grids and the digitalization of power systems have created opportunities for three phase shunt reactors equipped with monitoring and control capabilities, enabling real-time grid management.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of three phase shunt reactor was reached USD 1.3 billion in 2023 and is anticipated to cross USD 2.5 billion by 2032, driven by the increasing demand for electricity and the expansion of electrical grids.

Oil-immersed shunt reactors market was worth over USD 1 billion in 2022 and is projected to surpass USD 2 billion by 2032, as these reactors excel in power handling capacity compared to their air-core counterparts, enabling efficient compensation for reactive power demands within power systems.

The market for three-phase shunt reactor in Asia Pacific is poised for substantial growth, with a projected CAGR exceeding 8% through 2032, attributed to the increase in energy consumption driven by rapid urbanization, industrial expansion, and population growth.

Siemens Energy, TMC TRANSFORMERS MANUFACTURING COMPANY, Shrihans Electricals Pvt. Ltd., NISSIN ELECTRIC Co.,Ltd., HICO America, Hitachi Energy Ltd., GETRA S.p.A., Toshiba Energy Systems & Solutions Corporation, Fuji Electric Co., Ltd., and WEG among others.