Global Shunt Reactor Market: By Product Type (Oil-Immersed and Air-Core); By End-User (Electric Utilities and Industrial Verticals); By Region (2018-2025)

January 2019

 Pages: 135

 ERC 2772

 Formats*:  

Market Overview

Shunt reactors are used to protect transmission lines from high-voltage fluctuations. Reactive power is excess power due to high voltage along the line. Shunt reactors consume the reactive power, thereby stabilizing the voltage along the transmission line. Reactance, a characteristic of electrical or electronic equipment, opposes changes in electric current or voltage owing to inductance or capacitance.

The Global Shunt Reactor Market was worth USD XX billion in 2017 and is forecasted to reach USD XX billion by 2025, growing at a CAGR of XX% during the forecast period (2018-2025).

Market Dynamics

The major driving factor of the shunt reactor market is increased industrialization and the growing focus on grid reliability in developing countries. These factors have led governments worldwide to invest in the expansion of their existing T&D networks. These expansion projects will require high-voltage transmission lines, a fact that increases the risk of grid failures due to high-voltage fluctuations. Therefore, to protect T&D equipment as well as end-users, electrical utility companies will need shunt reactors.

Furthermore, Developing countries such as China, India, Russia, and South Africa are focusing on improving overall grid reliability. The use of shunt reactors not only ensures overall efficiency but also protects equipment and end-users. In the T&D process, one of the major concerns is high-voltage fluctuations, which can severely damage the entire grid. Shunt reactors provide the necessary protection against over-voltages by absorbing reactive power. These concerns should fuel the demand for shunt reactors globally.

Market Segmentation

By product type, the market is bifurcated into Oil-Immersed and Air-Core shunt reactors. Out of these, the air-core segment is likely to contribute to the growth of the market, owing to the increasing use of these devices in electrical test laboratory and research institutions. The other benefits of air-core type shunt reactors are that they are maintenance free and have no fire hazards owing to this factor, air-core dry sub-segmented is immensely contributing in the growth of global shunt reactor market.

Geographical Analysis

Geographically, the Global Shunt Reactor Market is segmented into North America, Europe, South America, Asia Pacific, and RoW. Among all the regions, Asia Pacific dominates the shunt reactor market due to the growing demand for electricity. Governments in emerging countries such as India and China have taken initiatives to meet industrial and residential requirements for electricity and to promote renewable energy generation.

Moreover, many power infrastructure reconstruction and expansion projects are in the pipeline. These projects will eventually drive the demand for shunt reactors, in order to increase grid reliability. The market is also seeing the use of efficient yet low-cost equipment used in renovations.

North America is ranked second in the market in terms of total order intake. The US, Mexico, and Canada are some of the largest operators of high-voltage and EHV networks for the T&D of electric power. Hence, shunt reactors find application because the grid's safety and reliability is always a priority. However, the market in the US is reaching its maturity, which poses a challenge to market growth.

Competitive Analysis

Leading industry players catering across the shunt reactor market includes ABB, CG, Siemens, Alben Industries, BPEG Reactors, GE, Fuji Electric., Mitsubishi Electric Power Products, Inc., Hyosung Corporation, and Elgin Power Solutions. The industry players are focusing on customization and continuous upgradation of technology to enhance the market presence.

In 2018, The Rwanda Energy Group (REG) has installed equipment intended to absorb reactive power for increasing the efficiency and stability of the power system and avert damages that might be caused by excess voltage.

In 2018, SNC-Lavalin has been awarded a US $70 mn contracts to provide engineering and procurement services for three substations at UAE-based Meydan Group’s project in Dubai.

Why purchase the report?

  • Detailed information of the Global Shunt Reactor Market products across each segment, in terms of end-user highlighting the critical commercial assets and players.
  • Recognize commercial opportunities in shunt reactor products market by analyzing key trends and development.
  • Extensive product benchmarking of all key players
  • On-demand excel sheets and data tables.

Target Audience

  • Raw Material Suppliers
  • Product Manufacturers
  • Industry Leaders/Investors/Key opinion leaders
  • Research & Education Institutes
  • Research Professionals
  • Emerging Companies & Organizations
Please fill in the form below to Request for Table of content Report
91
  
Your personal details are safe and secured with us. Privacy Policy

To request sample copy of this report, please complete the form below verified and secure

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report. This also includes a 30 minute free analyst discussion post report purchase.

  
Your personal details are safe and secured with us. Privacy Policy

    What Information does this report contain?

Purchase Options





Offers & Discounts

  • Chapter purchase
  • Historical market data
  • Country level data breakdown
  • Free customization*
  • Discounts for first time
  • Special pricing for
              non-business entities

Customize

  • We offer 20% free customization on every purchase.

Get in touch!

  +91-844-601-6060


  help@esticastresearch.com