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Variable Shunt Reactor Market Share

Report ID: GMI7010
Published Date: Oct 2023
Report Format: PDF

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Variable Shunt Reactor Market Share

General Electric (GE) has established a robust presence in the variable shunt reactor industry, holding a strong position due to its extensive expertise in electrical technologies and grid solutions. GE's reputation for innovation and reliability has made it a preferred choice for utilities and industries seeking efficient reactive power compensation solutions. Furthermore, GE's commitment to sustainability aligns with the increasing emphasis on environmentally friendly solutions in the power sector, further solidifying its market standing. Through a combination of technical excellence and a customer-centric approach, GE has earned a significant market share in the variable shunt reactor segment, ensuring reliable and efficient power management for its clients.

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

GE
Siemens Energy
Toshiba Energy Systems & Solutions Corporation
CG Power & Industrial Solutions Ltd.
Hitachi Energy Ltd.
HYOSUNG HEAVY INDUSTRIES
TMC TRANSFORMERS MANUFACTURING COMPANY
NISSIN ELECTRIC Co.,Ltd.
Fuji Electric Co., Ltd.
GBE S.p.A
WEG
SGB SMIT
GETRA S.p.A.
Shrihans Electricals Pvt. Ltd.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of variable shunt reactor was worth USD 869 million in 2023 and will register over 8.4% CAGR from 2024 to 2032, due to the increasing integration of renewable energy sources, such as wind and solar, into the power grids worldwide.

Variable shunt reactor market size from the three-phase segment is expected register over 9% CAGR from 2023 to 2032, on account of increasing demand in compensating for reactive power within standard three-phase power systems.

Asia-Pacific variable shunt reactor market is expected to register over 9.5% CAGR from 2023 to 2032, owing to the rapid economic growth and urbanization in the region.

GE, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, CG Power & Industrial Solutions Ltd., Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, and Fuji Electric Co., Ltd., are some of the major variable shunt reactor companies worldwide.