Global Shunt Reactor Market Highlights 2022 – 2030
The global shunt reactor market is estimated to garner a sizeable revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the requirement of protection solutions for sudden voltage spikes, and growing investments to upgrade existing transmission and distribution networks across the globe. Along with these, rising demand for power worldwide, and increasing development of high voltage transmission lines are also expected to drive significant market growth in the forthcoming years. About 23,000 billion KWh of electricity was consumed in 2018, up from more than 22,000 billion KWh in the year 2017. Furthermore, escalating adoption of smart grid technology, and high focus to minimize energy loss during transmission are projected to offer ample growth opportunities to the market in the near future.
.jpg)
Get more information on this report: Download Sample PDF
The market is segmented by type into oil-immersed, and air-core, out of which, the oil-immersed segment is anticipated to observe notable growth in the global shunt reactor market. This can be accounted to the high cost-effectiveness, and increasing investments in transmission and distribution infrastructure associated with oil-immersed shunt reactors. Additionally, on the basis of type, the variable shunt reactor segment is assessed to acquire the largest share during the forecast period owing to the growing utilization of high voltage energy transmission systems to stabilize voltage during load variations. Apart from these, surge in investments to increase the maximum regulation range of variable shunt reactors is also predicted to boost growth to the market segment in the future.
Major Macro-Economic Indicators Impacting the Market Growth
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Global Shunt Reactor Market Regional Synopsis
On the basis of geographical analysis, the global shunt reactor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth and grab the largest share over the forecast period on the back of the growing investments to improve the transmission and distribution network, and rising electricity demand from business and domestic sources in the region. In 2020, India and the rest of South Asia announced that it will invest USD 25.9 billion in smart grid infrastructure, with the aim to modernize power sector over the period 2020-2029. In addition, high manufacturing capacity of industries in India and China, whose energy needs are surging rapidly is also expected to boost the market growth in the region in the coming years. Moreover, the market in North America is projected to acquire a significant share during the forecast period ascribing to high technological advancements in the energy industry, and presence of major market players in the region.
Get more information on this report: Download Sample PDF
The global shunt reactor market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global shunt reactor market includes the following segments:
By Type
- Oil-Immersed
- Air-Core
By Form
- Fixed Shunt Reactor
- Variable Shunt Reactor
By Rated Voltage
- Less than 200kV
- 200kV-400Kv
- Above 400kV
Growth Drivers
- Requirement of Protection Solutions for Sudden Voltage Spikes
- Growing Investments to Upgrade Existing Transmission and Distribution Networks
Challenges
- Development of Alternative Technologies for Grid Stabilization
Top Featured Companies Dominating the Market
- ABB, Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Siemens AG
- General Electric Company
- Toshiba Corporation
- Mitsubishi Electric Corporation
- Fuji Electric Co.
- CG Power and Industrial Solutions Limited
- Nissin Electric Co., Ltd.
- TRENCH Group
- Hyundai Heavy Industries
