Home > Energy & Power > Electrical Equipment > Shunt Reactors > Variable Shunt Reactor Market

Variable Shunt Reactor Market Trends

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

Download Free Sample

Variable Shunt Reactor Market Trends

The variable shunt reactor industry is experiencing notable trends that reflect the changing landscape of the global energy sector. A key trend is the growing emphasis on grid stability and reliability, driven by the increasing integration of renewable energy sources. Additionally, advancements in digital technology, including sensors and monitoring systems, are enabling more precise control and operation of variable shunt reactors, optimizing their performance and efficiency. Energy efficiency and environmental concerns are also driving the adoption of variable shunt reactors, as they offer a cost-effective solution to manage reactive power, reduce transmission losses, and minimize environmental impact.

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.