Renewable Based Shunt Reactor Market Size - By Phase (Single Phase, Three Phase), By Insulation (Oil Immersed, Air Core), By Product (Fixed Shunt Reactor, Variable Shunt Reactor), & Forecast, 2023 - 2032

Renewable Based Shunt Reactor Market Size - By Phase (Single Phase, Three Phase), By Insulation (Oil Immersed, Air Core), By Product (Fixed Shunt Reactor, Variable Shunt Reactor), & Forecast, 2023 - 2032

Renewable based shunt reactor market size is projected to witness more than 10% CAGR from 2023 to 2032. The escalating integration of renewable energy sources like solar and wind necessitating grid stability and reactive power support is fueling the demand for different shunt reactors.

The rapid expansion of smart grids is prompting the higher need for efficient power transmission in the renewable energy sector. For instance, in August 2021, Transformers & Rectifiers Limited, a transformer manufacturing company, commissioned the world’s highest voltage 50 MVAr, 3 phase, 420 kV shunt reactor, filled with natural ester fluid to manufacture eco-friendly transformers & reactors. Additionally, the rising investments for upgrading power infrastructure and the increasing focus on grid reliability are enhancing the deployment of renewable-based shunt reactors. The ingress of government initiatives for promoting clean energy and grid resilience will also drive the industry growth.

The renewable based shunt reactor market is segregated into phase, insulation, product, and region.

The industry value from the single-phase segment is projected to rise at substantial CAGR through 2032. The growth can be attributed to the increasing adoption of renewable energy sources and the high demand for reactive power compensation in single-phase systems. The growing integration of shunt reactors for enhancing grid stability is also making them essential for supporting the expansion of renewable energy infrastructure.

Renewable-based shunt reactors market share from the fixed shunt reactors product segment is estimated to exhibit significant CAGR through 2032, owing to the rising need for reactive power compensation in power transmission systems. The increasing adoption of renewable energy and the surging grid stability requirements will also fuel the demand for fixed shunt reactors for supporting efficient and reliable power distribution.

Regionally, the Europe renewable-based shunt reactor industry is slated to expand at robust rate during 2023-2032. The growth is attributed to the increasing focus on renewable energy integration, the influx of grid modernization initiatives, and the rising need for reactive power compensation. The heightened government support for sustainable energy projects and the drive towards resilient and stable power infrastructure will boost the regional market.