Shunt Reactor Market Trends and Dynamics, Drivers, Competitive landscape and Future Opportunities

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 According to IMARC Group, the global shunt reactor market was worth US$ 2.7 Billion in 2018. The market to reach a value of US$ 3.6 Billion by 2024, registering a CAGR of around 5% during 2019-2024. A shunt reactor is a compact device that absorbs reactive power to increase the energy efficiency of a power supply system. It is usually connected to a substation busbar, often directly to the overhead transmission lines. Shunt reactors are commonly used to compensate power in high-voltage transmission lines and cable systems by transmitting energy directly to the power lines. It also consumes excess reactive energy generated by overhead lines under low load conditions and helps in improving the stability and efficiency of energy transmissions.

Shunt reactors find extensive application across various industries due to their low maintenance requirements and operational costs, and minimal fire hazard probabilities. The increasing need for efficient power systems that ensure an uninterrupted supply of power has further increased the demand for shunt reactors. Furthermore, governments of different countries are focusing on renewable energy projects to reduce carbon footprints. This has led to the growing need for modernization of transmission and distribution networks, which, in turn, is creating a positive impact on the market. Other factors, including the need for reduced losses in power transmissions, investments in smart grid technologies and increasing focus on research and development (R&D) activities, are further contributing to the market growth.

Request for a free sample copy of this report: https://www.imarcgroup.com/shunt-reactor-market/requestsample

Report Coverage:

  • Historical, Current and Future Market Trends
  • Market Breakup by Type:
    • Oil-Immersed
    • Air-Core
  • Market Breakup by End-User:
    • Electric Utilities
    • Industrial Verticals
  • Market Breakup by Application:
    • Variable Reactor
    • Fixed Reactor
  • Market Breakup by Region:
    • North America
    • Asia Pacific
    • Europe
    • Middle East and Africa
    • Latin America

Explore Healthcare Market Research Reports: https://www.imarcgroup.com/shunt-reactor-market

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being ABB, General Electric, Siemens, Nissin Electric, Zaporozhtransformator, Crompton Greaves, Alstom SA, Hyundai Heavy Industries, Mitsubishi Electric, Hitachi, Toshiba, Hilkar, Fuji Electric, TBEA, Trench Group, etc.

Browse Related Report

https://www.imarcgroup.com/almond-milk-market

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.


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