Global Shunt Reactor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Shunt Reactor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Shunt reactor is an electrical device, which is used to stabilize the voltage in the whole range of load difference in high voltage transmission system. The working principle of shunt reactor is to act as reactive power absorber in energy system to improve system efficiency. Shunt reactors are extensively used for controlling the voltage throughout load differences in high voltage energy transmission systems. Based on the requirements of voltage, these reactors will operate to provide compensation of reactive power.

Market Overview:

The latest research study on the global Shunt Reactor market finds that the global Shunt Reactor market reached a value of USD 3180.36 million in 2022. It’s expected that the market will achieve USD 4034.18 million by 2028, exhibiting a CAGR of 4.04% during the forecast period.

Market Challenges

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages.

For the Shunt Reactor industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.

But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Hitachi Energy, Siemens Energy, TBEA Co. Ltd, with the revenue market share of 25.76%, 17.64%, 14.11% in 2020.

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. Hitachi Energy serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries.

In 2020, Hitachi and ABB's Power Grids' business came together in a joint venture to create a new global leader in pioneering and digital technologies.

Siemens Energy AG is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. Siemens Energy employs 91,000 people worldwide in more than 90 countries.

Segmentation Overview:

Among different product types, Oil-Immersed Reactor segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Electric Utilities segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Shunt Reactor market covered in Chapter 3:

Toshiba
Fuji Electric
Hyosung Corporation
Hyundai Heavy Industries Co. Ltd
TBEA Co. Ltd
Hitachi Energy
Zaporozhtransformator
GE
Siemens Energy

In Chapter 4 and Chapter 14.2, on the basis of types, the Shunt Reactor market from 2018 to 2029 is primarily split into:

Oil-Immersed Reactor
Air Core Dry Reactor

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Shunt Reactor market from 2018 to 2029 covers:

Electric Utilities
Industrial Verticals

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)